Re:OpenAI staff threaten to quit unless board resigns
by jfim on Monday November 20, 2023 @12:44PM
(#38351359)
Some non profits have very well remunerated CEOs.
Re:OpenAI staff threaten to quit unless board resigns
by username332211 on Monday November 20, 2023 @12:46PM
(#38351383)
One of the reason why companies distribute dividends is that when a big pot of cash starts to accumulate, there end up being a lot of people who feel entitled to it.
Employees might suddenly feel they deserve to be paid a lot more. Suppliers will play a lot more hardball in negotiations. A middle manager may give a sinecure to their cousin.
And upper managers can extract absolutely everything trough lucrative contracts to their friends and relatives. (Of course the IRS would clamp down on obvious self-dealings, but that wouldn't make such schemes disappear. It'll make them far more complicated and expensive instead.)
Re:OpenAI staff threaten to quit unless board resigns
by guhcampos on Monday November 20, 2023 @01:01PM
(#38351681)
If you don't have to turn a profit to investors, you suddenly can pay yourself an (even much more astronomically high) salary.
Re:OpenAI staff threaten to quit unless board resigns
by s1artibartfast on Monday November 20, 2023 @01:16PM
(#38351933)
They usually pile up in a bank account of stocks and bonds or real estate assets held by the non-profit.
Re:OpenAI staff threaten to quit unless board resigns
by icedchai on Monday November 20, 2023 @01:22PM
(#38352031)
They call it "budget surplus" and often it gets allocated to overhead. This eventually results in layers of excess employees, often "administrators" that don't do much.
Re:OpenAI staff threaten to quit unless board resigns
by s1artibartfast on Monday November 20, 2023 @03:58PM
(#38354640)
Or it just piles up in an endowment, which becomes a measure of the non-profit's success, in a you make what you measure, numbers go up sort of way. "grow our endowment by x billion becomes the goal" instead of questioning why they are growing the endowment instead of charging patients less.
Then where do these profits go?