Re:Microsoft is a minority owner of OpenAI Global LLC
by yieldcrv on Saturday November 18, 2023 @08:57AM
(#38319641)
I don’t see anything inherently challenging about that, only the board seats at the non profit being limited to natural persons occupying one seat each. The LLCs being managing members of other LLCs is fine and flexible enough. The PPU thing is manageable. The profit caps are dumb.
A C-Corp with multiple share classes where the CEO is also a Chair with multiple seats will be superior in that affect
Neither structure really removes the profit incentives, but for people that believe that you can literally say anything to those people. You can say “our bylaws say” or “we made a B Corp because we like to be socially driven” or “we’re a non profit!”, these are emotional tugs than any legal reality
A C-Corp with multiple share classes where the CEO is also a Chair with multiple seats will be superior in that affect
Neither structure really removes the profit incentives, but for people that believe that you can literally say anything to those people. You can say “our bylaws say” or “we made a B Corp because we like to be socially driven” or “we’re a non profit!”, these are emotional tugs than any legal reality