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1. dannyk+Ea[view] [source] 2019-03-11 17:02:32
>>gdb+(OP)
Yes or no: will you remain a registered non-profit organization (401/501-type orgs or similar), or were you ever? It's fine to call your self non-profit but if you don't have to abide by the rules of them then you aren't, period.

I think all of us here are tired of "altruistic" tech companies which are really profit mongers in disguise. The burden is on you all to prove this is not the case (and this doesn't really help your case).

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2. sonnyb+Hc[view] [source] 2019-03-11 17:15:07
>>dannyk+Ea
'Do no evil'

'We're connecting everyone'

I admire the will to want to do things differently, but the lack of self awareness of some drinking the koolaid bothers me - I don't know the word for it exactly.

A 100x cap on returns is simply not a non-profit, point blank. Any investor, with any risk profile, in any industry, at any stage - would be super happy with a 100x return.

I also don't doubt the 'market reality' of needing to have such a situation in order to attract investment, I mean, it'd be very hard to bring in money without providing some return ....

... but this is called 'capitalism'.

i.e. the reality of the market, risks etc. are forcing their hand into a fairly normative company profile, with some structural differences which facilitate mostly PR spin.

Companies are not 'for profit' because they are inherently greedy, it's just a happy equilibrium for most scenarios: you need investors? Well, they want risk-adjusted returns.

Also implicit in the 100x capped returns is the implication that the company gets to keep the money! The money goes into more staff, capex, higher prices to suppliers, or lower prices to consumers. But within that framework is just massive payouts to employees as well, in a very cynical take.

I love the motivation, but I wish we would be more objective in terms of 'what things really are' these days. Photos of 'families with babies' don't make a company 'better'. We all have families that we love, workmates we like (or not sometimes).

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