Earlier quoted context omitted.
Corporations exist at the pleasure of government do they not? They are not some naturally-existing thing.
I would think that sort of framing implies that the government gives them permission to exist. Rather than, the natural state is that they exist unless they do something bad enough to be shut down. Unless you mean, they need the government's "permission" to even file to become a corporation... But even in that case, you aren't asking for permission, you're doing the old school equivalent of signing up for a domain, y…
OpenAI’s promise to stay in California helped clear the path for its IPO
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Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#32It used to be that you could find an IPO underwriter after 100M in revenue and growing YoY above others in the competitive basket. I’m not sure that’s true anymore, I think you still need the revenue, but just need attention. everything else is just whatever because you can’t predict 10 year outcomes for any business at this point with any level of confidence, and there’s nothing to compare it to other than extremely…
Depends how you look at it but at DO we shot for 50, ended around 55. (25 % growth + 30 % profitability)
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#33Earlier quoted context omitted.
Can someone explain to me what Sam Altman is doing to be so far ahead of everyone else in terms of navigating these high stakes roles? This happened at YC and a number of other places too, he goes into situations with nothing and comes out on top despite all odds. Is he that skilled an operator, negotiator, or manipulator or something?
I can only speculate so take it with a spoon of salt... But people who are really good at sussing out other people's wants can find ways to make more people happy. It's like a maze of interests and I guess he's just really motivated and good at navigating and aligning them (at least among the rich and powerful). He also seems to understand something about power and perception, in that he takes calculated risks that s…
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#34Earlier quoted context omitted.
Corporations exist at the pleasure of government do they not? They are not some naturally-existing thing.
> Corporations exist at the pleasure of government do they not? No. “At the pleasure of” means total discretion. The government can’t just stop letting businesses incorporate because it doesn’t like how a county voted.
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#35Earlier quoted context omitted.
Can someone explain to me what Sam Altman is doing to be so far ahead of everyone else in terms of navigating these high stakes roles? This happened at YC and a number of other places too, he goes into situations with nothing and comes out on top despite all odds. Is he that skilled an operator, negotiator, or manipulator or something?
I can only speculate so take it with a spoon of salt... But people who are really good at sussing out other people's wants can find ways to make more people happy. It's like a maze of interests and I guess he's just really motivated and good at navigating and aligning them (at least among the rich and powerful). He also seems to understand something about power and perception, in that he takes calculated risks that s…
When he was fired from OpenAI, his use of employee manipulation to regain his position is not a risk; it is the only option he had. It was his bond maturing, of carefully cultivated loyalty he had accrued over years. Gaining that loyalty was not really a risk. It was smart politics.
One risk he took is: signing away such a large portion of the company to Microsoft. I'm not sure whether that is working out.
Another risk he took is: neglecting and sidelining the "safety" portion of his organization. This caused a talent exodus and led to the formation of many competitors. I'm not sure whether that is working out either.
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#36Earlier quoted context omitted.
> threatening economic damage to California. whoa there. corporations have the right to move to the best location for them. California does not have the eternal right to OpenAI's taxes and employee base. think about what you're implicitly assuming here. if one company simply leaving causes concerning "damage" then perhaps it is the government that is the problem, not the corporation driving economic growth.
Corporations used to not have that much political power
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#37How can a non-profit IPO? I know that technically OpenAI is a for-profit company that is owned by a non-profit, but I still don't get it.
you can IPO the for-profit subsidiary. done before. the main tricky part is resolving the tax issues since as a non profit you are exempt, but obviously a for profit is not exempt from paying taxes
As do many gift shops attached to non-profit museums and art galleries.
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#38Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#39How can a non-profit IPO? I know that technically OpenAI is a for-profit company that is owned by a non-profit, but I still don't get it.
Re: OpenAI’s promise to stay in California helped clear the path for its IPO
#40Prediction for the future: OpenAI IPO's lots of money changes hands, it chugs along for a while, hits a hard spot and then is taken private for pennies on the dollar by Microsoft.