Sam Altman, Greg Brockman and others to join Microsoft

Re:Sam Altman, Greg Brockman and others to join Microsoft by jampekka on Monday November 20, 2023 @07:03AM (#38346804)

Individual companies of course can and do do all kinds of things that may not be most profitable, but in the long run it's survival of the most profitable. Those get the most capital and thus have the most power of towards which goals resources are allocated.

Also companies, especially public companies, are typically mandated by law to prioritize profit.

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Re:Sam Altman, Greg Brockman and others to join Microsoft by Eggpants on Monday November 20, 2023 @10:13AM (#38349337)

There is no such law, ChatBLT told me so. But seriously, there isn’t because it so vague. Short term vs long term profits alone produces so much wiggle room alone that if such a law existed it would be meaningless.

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Re:Sam Altman, Greg Brockman and others to join Microsoft by Eggpants on Monday November 20, 2023 @10:14AM (#38349343)

There is no such law, ChatBLT told me so. But seriously, there isn’t because it so vague. Short term vs long term profits alone produces so much wiggle room that even if such a law existed it would be meaningless.

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Re:Sam Altman, Greg Brockman and others to join Microsoft by jampekka on Monday November 20, 2023 @11:11AM (#38349904)

The term of the profit is of course a difficult matter of interpretation, but the charter is still profit, instead of e.g. ethics or benefits for mankind, on some time scale.

I'm not versed in US law, and common law is quite a thing to verse for a layman. But e.g. here's a non-layman's quite clear view: https://www.wakeforestlawreview.com/2012/04/our-continuing-s...

At least in Finnish law it's very plainly clear: "The purpose of a [limited liability] company is to make profit for shareholders, unless otherwise indicated in the bylaws."

("Yhtiön toiminnan tarkoituksena on tuottaa voittoa osakkeenomistajille, jollei yhtiöjärjestyksessä määrätä toisin." Osakeyhtiölaki, luku 1 pykälä 5)

Edit: For contrast, the purpose of universities (and thus, at least in theory, university researchers) is by law to "promote free research and scientific and cultural enlightenment, give highest education based on research and raise [their] students to serve the fatherland and mankind". [pardon for some awkward to translate phrases]

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