291–300 of 1001 posts
Not a lawyer but those contracts aren't legal. You need something called "consideration" ie something new of value to be legal. They can't just take away something of value that was already agreed upon. However they could add this to new employee contracts.
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I had to login because I haven’t seen anybody reference this in like a decade. If I remember correctly the author unsuccessfully tried to get that purged from the Internet
You're thinking of something else (and "purged from the internet" isn't exactly an accurate account of that, either).
Is this some thing about an obelisk?
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If I have equity in a company and I care about its value, I’m not going to say anything to tank its value. If I sell my equity later on, and then disparage the company, what can OpenAI hope to do to me?
From what other people have commented, you don't get equity. You get a profit sharing plan. You're chained to them for life. There is no divestiture.
I got laid off by a different company and can't disparage them. I can tell the truth. I'm not signing anything that requires me to lie.
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> if 7 years have elapsed since they were granted, they are now worthless Once vested, RSUs are the same as regular stock purchased through the market. The company cannot claw them back, nor do they "expire".
No, this is not true. That's the entire point I'm making. An RSU that is vested, for a private company, is not a share of stock, it's an entitlement to receive a share of stock tied to a liquidity event. > same as regular stock purchased through the market You cannot purchase stock of a private company on the open market. > The company cannot claw them back The company cannot "claw back" a vested RSU but they can can…
Submission title mentions NDA but the article also mentions a non disparagement agreement. "You can't give away our trade secrets" is one thing but it sounds like they're being told they can't say anything critical of the company at all.
They can't even mention the NDA exists!
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Personally, I think catastrophic global warming and climate change will happen before we get AGI, possibly in part due to the pursuit of AGI. But as the saying goes, yes the planet got destroyed. But for a beautiful moment in time we created a lot of value for shareholders.
Want to share your model? Or is this more like a hunch?
I have some experience with rich people who think they can just put whatever they want in contracts and then stare at you until you sign it because you are physically dependent on eating food every day. Turns out they're right, they can put whatever they want in a contract. And again, they are correct that their wage slaves will 99.99% of the time sign whatever paper he pushes in front of them while saying "as a cond…
Isn't that the reason more competent lawyers put in the royal lives[1] clause? It specifies the contract is valid until 21 years after the death of the last currently-living royal descendant; I believe the youngest one is currently 1 year old, and they all have good healthcare, so it's almost certainly will be beyond the lifetime of any currently-employed persons.
So part of their compensation for working is equity, and when they leave thay have to sign an additional agreement in order to keep their previously earned compensation? How is this legal? Mine as well tell them they have to give all their money back too. What's the consideration for this contract?
That OpenAI are institutionally unethical. That such a young company can be become rotten so quickly can only be due to leadership instruction or leadership failure.
The most dishonest leadership.