captainastronaut@seattlelunarsociety.org
on 06 May 02:47
nextcollapse
“Previously, investors in OpenAI’s commercial entity were capped at making 100 times their money before the rest of its profits flowed back to the nonprofit.
With the new PBC subsidiary, OpenAI spokesperson Steve Sharpe tells me that investors and employees will own regular stock with no cap on how much it can appreciate. “
They got exactly what they want anyway. This is no victory.
NoSpotOfGround@lemmy.world
on 06 May 02:58
nextcollapse
This doesn’t make sense to me. The ultimate value of shares is in the dividends they represent, no? If there are no dividends ever, what are they sharing in? Is it just a postponement until future dividends? A share in control of activities?
I get that there’ll be speculation that will keep values increasing, and selling can net a profit, but what does the last share-holder get?
Once the bubble pops they’ll rugpull the same way they do crypto. Either that or it will grow so large that they convince someone to aquire them wholesale
threaded - newest
Great news.
“we can make enough money without it”
“Previously, investors in OpenAI’s commercial entity were capped at making 100 times their money before the rest of its profits flowed back to the nonprofit.
With the new PBC subsidiary, OpenAI spokesperson Steve Sharpe tells me that investors and employees will own regular stock with no cap on how much it can appreciate. “
They got exactly what they want anyway. This is no victory.
This doesn’t make sense to me. The ultimate value of shares is in the dividends they represent, no? If there are no dividends ever, what are they sharing in? Is it just a postponement until future dividends? A share in control of activities?
I get that there’ll be speculation that will keep values increasing, and selling can net a profit, but what does the last share-holder get?
en.wikipedia.org/wiki/Greater_fool_theory
Once the bubble pops they’ll rugpull the same way they do crypto. Either that or it will grow so large that they convince someone to aquire them wholesale
This is just every economic endeavour in existence nowadays, the issue with cryptocurrency is that it contains no guard rails (+ environmental issues)
Unless you work for a corporation, ask your employer what their exit strategy is.
Technology and intellectual property, including patents. These are only put up for sale if the company is liquidated or declared bankrupt.
This doesn’t sound like a nonprofit.
They should never be allowed to call this a “non-profit” (and probably even get tax exemptions?)
What a dirty lie in the first place!
Oh, thanks for pointing that out… my head was just going “Fuck Sam Altman … Fuck Sam Altman … Fuck Sam Altman … Fuck Sam Altman … Fuck Sam Altman …” —
So they’re slowly admitting genAI is unprofitable…
Their current structure is still profit-oriented. You should read the article maybe.
The structure of OpenAI is quite strange and curious.
<img alt="" src="https://lemmy.world/pictrs/image/bfc3cd86-d6f1-4cb6-9573-9b088f1cd098.png">
They asked chatGPT for a business plan and it gave them hallucinations and half a business plan for a non-profit coalmining organization.