Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf]

>>modele+(OP)
There is a lot in here but turning a non-profit into a for-profit definitely should be challenged. Otherwise why wouldn't everyone start as a non-profit, develop your IP, and then switch to 'for-profit' mode once you got something that works? You don't pay income taxes and your investors get write offs.

>>silico+z11
The replies that say "well the profits go to the non-profit, all's good" miss the reality of these high profit nonprofits: the profits invariably end up in the pockets of management. Most of those are essentially scams, but it doesn't mean that OpenAI isn't just a more subtle scam.

The hype and the credulity of the general public play right into this scam. People will more or less believe anything Sam the Money Gushing Messiah says because the neat demos keep flowing. The question is what's we've lost in all this, which no-one really thinks about.

>>dkjaud+K51
"Why is the NFL a non-profit:

https://www.publicsource.org/why-is-the-nfl-a-nonprofit/

The total revenue of the NFL has been steadily increasing over the years, with a significant drop in 2020 due to the impact of the COVID-19 pandemic12. Here are some figures:

    2001: $4 billion

    2010: $8.35 billion

    2019: $15 billion

    2020: $12.2 billion

    2021: $17.19 billion

    2022: $18 billion

>>samsta+Q61
A non-profit simply has to spend all of the earnings, and it makes sense as a joint org for a number of for-profit enterprises (clubs) who all take part in the earnings.

Even if it was for profit company and it paid out all the surplus earnings to shareholders (owning clubs), it would be taxed zero on zero earnings (they'd just have to ensure all payouts happen within the calendar year).

>>necove+8o1
Hi, im SEC reality.

Guess, what - you missed the loophole.

Take a look at Sarah Palin's Daughter's' charity foundation Against Teen Pregnacy - founded after she, herself, was impregnated as a teen and it was a scandal on Sarah Palin's political shenanigans.... (much like boabert - his Drug/Thievery ~~guild~~ Addiction Foundation, soon to follow)....

Sarah Palins daughter got pregnant as a team, caused shame on the campaign - and started a foundation to help "stop teen pregnancy"

Then when the 503 filed, it was revealed that the Daughter was being paid ~$450,000 a year plus expenses from "managing the foundation" for the donations they solicited.

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If you dont know how "foundation" is the Secret Financial Handshake For "Yep, Ill launder money for you, and you launder money for me!... donate to my TAX DEDUCTABLE FOUNDATION/CHARITY... and Ill do the SAME to yours with the Money you "donated" to me! (excluding my fee of course)

This is literally what Foundations do.

(if you have never looked into the SEC filings for the Salvation Army (I have read some of their filings cover to cover.... biggest financial scam charity in the country, whos finances are available...)

money laundering is a game. Like Polo.

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>>>The company remains governed by the nonprofit and its original charter today. "

https://i.imgur.com/I2K4XF5.png

-

https://www.weforum.org/people/sam-altman/

>>samsta+2v1
Sure, I was mostly referring to NFL case and profit taxation, not to how non-profit foundations are abused in general.

NFL can achieve the same taxation level as a for-profit if it's more careful about distributing all surplus earnings before the end of the year.

Someone could certainly abuse the non-profit status there too, but nobody brought those cases up.

zlacker