If they were to go public, rather than being purchased by Microsoft, I’d guess that this cap would go away. Wall Street isn’t know for caring about poor people.
“But any returns beyond that amount… are owned by the original OpenAI Nonprofit entity.”
Sorry I still don’t get it. If a private equity investor has shares and another investor wants to buy them off of him at 200x they can do that right? Are they obliged to give any excess returns to the non profit? Can’t they just sell the shares at 50x and then buy them back (perhaps through some other entity) to get around that trivially?
Or does this refer to return from dividents?
But if your returns from the stocks are capped at 100x your share value, an efficient market would mean you share value never grows 200x.