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OpenAI to become for-profit company

reuters.com

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Re: OpenAI to become for-profit company

#81

Post by latexr »

upwardbound wrote: post #51

Relatedly, dalant979 found this fascinating bit of history: https://old.reddit.com/r/AskReddit/comments/3cs78i/whats_the... Yishan Wong describes a series of actions by Yishan and Sam Altman as a "con", and Sam jumps in to brag that it was "child's play for me" with a smiley face. :)

> and Sam jumps in to brag

I never read that as a brag, but as a sarcastic dismissal. That’s why it started with “cool story bro” and “except I could never have predicted”. I see the tone as “this story is convoluted” not as “I’ll admit to my plan now that you can’t do anything about it”.

That’s not to say Sam isn’t a scammer. He is. It just doesn’t seem like that particular post is proof of it. But Worldcoin is.

https://www.buzzfeednews.com/article/richardnieva/worldcoin-...

https://www.technologyreview.com/2022/04/06/1048981/worldcoi...

Re: OpenAI to become for-profit company

#87

Post by HarHarVeryFunny »

sandwichmonger wrote: post #15

Then why keep the name OpenAI?

This would have been the perfect time to change it, but maybe soon if not at same time as any official announcement.

It's hard to say if there is much brand value left with "OpenAI" - lots of history, but lots of toxicity too.

At the end of the day they'll do as well as they are able to differentiate and sell their increasingly commoditized products, in a competitive landscape where they've got Meta able to give it away for free.

Re: OpenAI to become for-profit company

#88

Post by bbor »

freedomben wrote: post #57
csomar wrote: post #41

Earlier quoted context omitted.

I am not a tax specialist but from my understanding a non-profit is a for-profit that doesn't pay dividends. Why would the government care?

No, a non-profit is one in which there are no shareholders. The non-profit entity can own a lot and be extremely successful and wealthy, but it cannot give that money to any shareholders. It can pay out large salaries, but those salaries are scrutinized. It doesn't prevent abuse, and it certainly doesn't prevent some unscrupulous person from becoming extremely wealthy with a non-profit, but it is a little more compli…

Yes: non-profits usually have members, not shareholders.

And, most importantly: non-profit charities (not the only kind of nonprofit, but presumably what OpenAI was) are legally obligated to operate “for the public good”. That’s why they’re tax exempt: the government is basically donating to them, with the understanding that they’re benefiting the public indirectly by doing so, not just making a few people rich.

In my understanding, this is just blatant outright fraud that any sane society would forbid. If you want to start a for-profit that’s fine, but you’d have to give away the nonprofit and its assets, not just roll it over to your own pocketbook.

God I hope Merrick Garland isn’t asleep at the wheel. They’ve been trust busting like mad during this administration, so hopefully they’re taking aim at this windmill, too.

Re: OpenAI to become for-profit company

#89

Post by cenamus »

tsimionescu wrote: post #61
allie1 wrote: post #55

Earlier quoted context omitted.

We haven't even heard about who gets voting shares, and what voting power will be like. Based on their character, I expect them to remain consistent in this regard.

Consistent here meaning, I guess, that all voting power will go to Sam Altman personally, right?

Well, he is the one that did most of the actual research and work, riiiiight?

Re: OpenAI to become for-profit company

#90

Post by alan-hn »

jsheard wrote: post #29
vrighter wrote: post #24

Earlier quoted context omitted.

What money? Aren't most (all?) AI companies are operating at a loss?

The ones selling the shovels are doing well, but otherwise yeah nobody is making any money. For the true believers that's just a temporary setback on the way to becoming trillionaires though.

I think the people getting salaries are doing just fine
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