[flagged]
I was thinking the same thing. I submitted the link only to find this thread.
Musk-led group makes $97B bid for control of OpenAI
191–200 of 1001 posts
Re: Musk-led group makes $97B bid for control of OpenAI
#192> to buy the nonprofit that controls OpenAI What does it mean to buy a nonprofit? Who owns it now? Does anyone?
Nonprofits generally have to break out unrelated business income [1] into for-profit companies that pay tax and pass the post-tax profit to the non-profit. In this case OpenAI the nonprofit owns OpenAI Global, LLC which is the entity that operates their API/ChatGPT and receives the investments from Microsoft et al.
Other examples include Mozilla Foundation and Mozilla Corporation, which receives the payments from Google for default search engine placement and hires Firefox engineers, and the Smithsonian museum gift shop. It’s a very common corporate structure for nonprofits that run some kind of business because it derisks accounting and management.
Musk is offering to buy the forprofit from the nonprofit, which would mean a $97.4 billion endowment for the latter to carry out their mission. It’s not necessarily a bad deal because it converts an optimistic VC valuation into hard assets, unless the rumored new round at a $300 billion valuation with Softbank is true.
[1] https://www.irs.gov/charities-non-profits/unrelated-business...
Re: Musk-led group makes $97B bid for control of OpenAI
#193[flagged]
I came here via the front page, and with 200 comments and over 200 points, how do you think people found this submission?
Re: Musk-led group makes $97B bid for control of OpenAI
#194Earlier quoted context omitted.
Elon's response: https://x.com/elonmusk/status/1889062013109703009 > Swindler In another tweet chain: https://x.com/elonmusk/status/1889063777792069911 > Scam Altman
wow I had no idea the level of discourse on that x website was so low, has it always been like this?
Reading the other comments in this Twitter thread it seems like it's gotten much worse than in the years before. It's seems so much more political and radicalized now.
Re: Musk-led group makes $97B bid for control of OpenAI
#195Good it was reprehensible that tech attention or gullible government/bank money would be going to something that isn't owned by Elon. Only he can save us
Re: Musk-led group makes $97B bid for control of OpenAI
#196With first mover advantage disappearing for OpenAI and very good alternatives appearing, one wonders how long they can sustain a multi billion dollar per year loss[0]. The launch of ChatGPT was earth shaking, but what have they done since that impacts or excites the average consumer? Does their revenue even come from the average consumer, or primarily from API users that will lift and shift to a viable competitor? I…
Don't you think that the brand is huge though? It has become a household name and it's synonymous with artificial intelligence. They're also supposed to get grotesque amount of investments which is supposedly more than twice the value of what Musk offered(They have %40 stake in the project Stargate, which is supposedly $500B thing).
You talk numbers, so let me ask you a numbers question: at their current valuation, if the brand is 60% of the value that’s top 5 estimated brand value.
Is OpenAI really one of the five most valuable brands in the world?
Re: Musk-led group makes $97B bid for control of OpenAI
#197Earlier quoted context omitted.
I absolutely hate how much CEOs acting like children / influencers has become the norm. Maybe they were always like this, and twitter has just given us a window into it, but I for one would wholeheartedly welcome a return to "respectability" norms for business and civic leaders.
That would require the death of social media.
Fingers crossed!
Re: Musk-led group makes $97B bid for control of OpenAI
#198> to buy the nonprofit that controls OpenAI What does it mean to buy a nonprofit? Who owns it now? Does anyone?
Nonprofits generally have to break out unrelated business income [1] into for-profit companies that pay tax and pass the post-tax profit to the non-profit. In this case OpenAI the nonprofit owns OpenAI Global, LLC which is the entity that operates their API/ChatGPT and receives the investments from Microsoft et al. Other examples include Mozilla Foundation and Mozilla Corporation, which receives the payments from Goo…
Honest question. What's happens to Microsoft's investment then?
Re: Musk-led group makes $97B bid for control of OpenAI
#199Re: Musk-led group makes $97B bid for control of OpenAI
#200Earlier quoted context omitted.
Yes and no. Yes the level of discourse was always that bad, but previously the people posting at that level were Internet randos, not the President of the United States and the executives of our most important businesses. I do wonder if these clowns appreciate the long-term consequences of shattering the mystique of business executives. It's all memey fun and games in the moment, but later on when you have to make th…
"let them eat cake"
vive le rasoir national!