Openai CEO Sam Altman becomes a unicorn unicorn. In just 10 years, he created a $300 billion company, in which he provided a new technology with potential impacts in the world. And he has to do this under the control of the Openai nonprofit. This is a Silicon Valley dream come true, but it is also a nightmare for capitalists.
After previous moves turned Openai into a for-profit enterprise, Altman today revealed “a growing update plan [the company’s] structure. “In an open letter to OpenAI employees, the CEO confirmed that OpenAI nonprofits will retain control of for-profit LLC, a huge victory for OpenAi critics.
OpenAI’s nonprofit status has become one of the biggest controversies in Silicon Valley in recent years, thanks in large part to the lawsuit against the company by Elon Musk. Last year, Musk sued the Chatgpt maker for breach of contract based on his transition to a for-profit business. Musk was one of the original supporters of OpenAI, but after he left the company in 2018, Altman set up a “top-up” for-profit LLC. Musk is very critical of the decision, as are the attorney generals in California and Delaware and the Legion of AI Skeptics.
As a result, Openai maintains a strange corporate structure, with its nonprofit division controlling its for-profit LLC. Openai said LLC will now transition to public welfare companies, or “purpose-driven corporate structures that must take into account the interests of shareholders and tasks.” According to this arrangement, Openai will be When providing AI products, there is a legal obligation to consider more than just profit motivation.
Mixable light speed
“We decided that nonprofits retain control of OpenAI after listening to the voice of citizen leaders and having constructive conversations with the offices of the Delaware Attorney General and California attorney general,” Bret Taylor, a member of the OpenAI Board of Directors, wrote in a blog post. “We thank both offices and we look forward to continuing these important conversations to ensure that Openai can continue to pursue its mission to benefit AGI effectively. Sam wrote this letter for our employees and stakeholders to understand why we are so excited about this new direction.”
In an open letter to OpenAI employees, Altman said he hopes to accomplish three things through the company’s growth: First, allow the company to attract new investments, create “the largest and most effective nonprofit organization in history” and “providing beneficial AGI.”
AGI or artificial universal intelligence is a loosely defined concept with a transfer door post, but according to Openai, it means “a AI system that is usually smarter than humans.”
To achieve this feat, Ultraman says Openai may need Trillions of dollars Among other resources.
“We want to be able to operate and access resources in a way we can provide a wide range of services to all humanity, which currently requires hundreds of millions of dollars and may end up with trillions of dollars. We believe this is the best way for us to achieve our mission and create huge benefits for each other through these new tools,” Altman wrote.
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