zlacker

>>isaacf+(OP)
Nice grift by Sam Altman taking all the donations and good will a non profit gets just to flip 180.

He probably would have done the same with his crypto scam startup worldcoin if it would not have failed in every way before he could scam.

>>Lionga+rg
It's weird to me that this is even possible legally (turning a nonprofit into a for-profit).

>>olalon+Xn
They technically didn’t get rid of the non profit but instead formed a partially owned for profit subsidiary.

In theory non profits are subject to oversight by the state of incorporation’s attorney general. In practice it’s mostly a free for all.

>>bradle+yw
This is the loophole. It's what Mozilla did (Foundation created Corporation, and moved employees there), and even IKEA is technically owned by a nonprofit (Stichting INGKA Foundation).

>>tapoxi+wF
The IKEA situation is far more complicated, exploiting gaps in how the laws of several different countries interact.