Re:Sam Altman is still trying to return as OpenAI CEO
by SilverBirch on Monday November 20, 2023 @02:30PM
(#38353194)
Is it even possible for that to happen? The entity that governs OpenAI is a registered charity with a well defined purpose, it would seem odd for it to be able to just say "Actually, screw our mission let's just sell everything valuable to this for-profit company". A big part of being a 501(c)(3) is being tax exempt, difficult to see the IRS being ok with this. Even if they were the anti-trust implications are huge, difficult to see MS getting this closed without significant risk of anti-trust enforcement.
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Re:Sam Altman is still trying to return as OpenAI CEO
by dragonwriter on Monday November 20, 2023 @02:37PM
(#38353312)
Yes, a charity can sell assets to a for-profit business. (Now, if there is self-dealing or something that amounts to gifting to a for-profit, that raises potential issues, as might a sale that cannot be rationalized as consistent with being the board's good faith pursuit of the mission of the charity.)
Re:Sam Altman is still trying to return as OpenAI CEO
by narinxas on Monday November 20, 2023 @02:31PM
(#38353209)
they already signed it over when their for-profit subsidiary made a deal with Microsoft
Re:Sam Altman is still trying to return as OpenAI CEO
by cma on Monday November 20, 2023 @02:35PM
(#38353280)
supposedly capped-profit, though if a non-profit can create a for-profit or a capped-profit, I don't see why it couldn't convert a capped-profit to fully for-profit.
Re:Sam Altman is still trying to return as OpenAI CEO
by rvba on Monday November 20, 2023 @02:41PM
(#38353372)
They can sell OpenAI to microsoft for 20 billion, fill the board with spouses and grandparents, then use 10 billion for salaries, 9 for acquisitions and 1 for building OpenAi2.
Mozilla wastes money on investments while ignoring firefox and nobody did anything to the board.
Oh and those 3 can vote that Ilya out too.