Earlier quoted context omitted.
Isn’t everything securities fraud though
Even this comment?
Probably, as I’m not optimizing shareholder value
Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
471–480 of 1001 posts
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#472This suit claims breach of the "Founding Agreement". However, there is no actualy Founding Agreement, there are email communications claimed to be part of a "Founding Agreement". IANAL, but I would suspect that these emails don't matter for much now that there are Ariticles of Incorporation. Those articles are mentioned, but the "Founding Agreement" implied by emails is mentioned more.
The suit also seems alarmist by stating that GPT4 is AGI.
It seems like Elon could win a suit to the extent that he could get all of his donations back based on the emails soliciting donation for a purpose that was then changed.
But Elon's goal in this suit is clearly to bring back the "Open" in "OpenAI"- share more information about GPT4 and newer models and eliminate the Microsoft exclusive licensing. Whether this would happen based on a suit like this seems like it would come down to an interpretation of the Articles of Incorporation.
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#473Earlier quoted context omitted.
Yeah - Had you donated the funds as "restricted funding" in the nonprofit parlance, they would have a legal requirement to use the funds as you had designated. It seems that Musk contributed general non-restricted funding so the nonprofit can more or less do what they want with the money.. Not saying there's no case here, but if he really wanted them to do something specific, there's a path for that to happen and tha…
> (...) but if he really wanted them to do something specific (...) Musk pledged donating orders of magnitude more to OpenAI when he wanted to take over the organization, and reneged on his pledge when the takeover failed and instead went the "fox and the grapes" path of accusing OpenAI of being a failure. It took Microsoft injecting billions in funding to get OpenAI to be where it is today. It's pathetic how Elon Mu…
This is a tangential point, but at least in American English the expression “sour grapes” is a shorthand for the fable you’re referring to.
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#474Earlier quoted context omitted.
The replies that say "well the profits go to the non-profit, all's good" miss the reality of these high profit nonprofits: the profits invariably end up in the pockets of management. Most of those are essentially scams, but it doesn't mean that OpenAI isn't just a more subtle scam. The hype and the credulity of the general public play right into this scam. People will more or less believe anything Sam the Money Gushi…
The reality was that nobody could have predicted the A.I breakthroughs when OpenAI first got started. It was a moonshot. Thats why Musk gave $50m dollars without even asking for a seat at the board. OpenAI had to start as a non profit because there was no clear path forward. It was research. Kind of like doing research with the goal of curing cancer. The unexpected breakthroughs came a bit quicker than anticipated an…
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Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#475If OpenAI became a non-profit with this in its charter: “resulting technology will benefit the public and the corporation will seek to open source technology for the public benefit when applicable. The corporation is not organized for the private gain of any person" I don't think it is going to be hard to show that they are doing something very different than what they said they were going to do.
yeah, the lawyers will have the whole case on those two words: "where applicable"
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#476A NY Times article says "Though Mr. Musk has repeatedly criticized OpenAI for becoming a for-profit company, he hatched a plan in 2017 to wrest control of the A.I. lab from Mr. Altman and its other founders and transform into a commercial operation that would work alongside his other companies, including the electric carmaker Tesla, and make use of their increasingly powerful supercomputers, people familiar with his…
Yet interestingly kept donating to openai until september 2020 according to the document.
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#477[flagged]
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#478Earlier quoted context omitted.
This is not a for-profit company. The shareholders don't get any of the money that OpenAI makes by law, so its purpose is not to make a profit.
So Musk's arguing that they had duty to protect his investment in OpenAI from being used for profiteering, and they didn't do that. How's that going to float in an industry whose philosophy is that profit is a very useful abstraction for social benefit?
That philosophy doesn't really exist in legal terms when you have a for-profit corporation. There are B-corporations (eg Anthropic) which try to balance those goals, but I'm not sure there's a ton of existing law around that.
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#479There is a lot in here but turning a non-profit into a for-profit definitely should be challenged. Otherwise why wouldn't everyone start as a non-profit, develop your IP, and then switch to 'for-profit' mode once you got something that works? You don't pay income taxes and your investors get write offs.
The replies that say "well the profits go to the non-profit, all's good" miss the reality of these high profit nonprofits: the profits invariably end up in the pockets of management. Most of those are essentially scams, but it doesn't mean that OpenAI isn't just a more subtle scam. The hype and the credulity of the general public play right into this scam. People will more or less believe anything Sam the Money Gushi…
Also it /doesn't/ all go back to openAI. Microsoft for example will make 100X ROI.
Re: Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]
#480[dead]