5 ms·
Based on what I've read it is allowed for a non profit to own a for profit asset. So I'm assuming the game plan here is to adjust the charter of the non profit
by imranhou 2y ago
Based on what I've read it is allowed for a non profit to own a for profit asset.
So I'm assuming the game plan here is to adjust the charter of the non profit to basically say we are going to still keep doing "Open AI" (we all know what that means), but through the proceeds it gets by selling chunks of this for-profit entity, so the essence could be the non-profit parent isn't fulfilling its mission by controlling what openai does but how it puts the money to use it gets from openai.
And in this process, Sam gets a chunk (as a payment for growing the assets of the non-profit, like a salary/bonus) and the rest as well....?
- SkyPuncher 2y agoI went through something similar with a prior startup. Though, it wasn't anything nefarious, like this. Basically, the plan was to create a new for-profit entity then have the not-for-profit license the existing IP to the for-profit. There were a lot of technicalities to it, but most of that was handled by lawyers drawing up the chartering paperwork.