zlacker

I'm also interested in how this corporate structure relates to a b-corp (or technically, a PBC)

> OpenAI LP’s primary fiduciary obligation is to advance the aims of the OpenAI Charter, and the company is controlled by OpenAI Nonprofit’s board. All investors and employees sign agreements that OpenAI LP’s obligation to the Charter always comes first, even at the expense of some or all of their financial stake.

One of the key reasons to incorporate as a PBC is to allow "maximizing shareholder value" to be defined in non-monetary terms (eg impact to community, environment, or workers).

How is this structure different from a PBC, or why didn't you go for a PBC?

>>floatr+(OP)
We needed to custom-write rules like:

- Fiduciary duty to the charter - Capped returns - Full control to OpenAI Nonprofit

LP's have much more flexibility to write these in an enforceable way.

>>gdb+H
How do you actually define "Fiduciary duty to the charter"? Since charters tend to be vague, and are definitely not legal documents, almost anything can be said to be aligned with the charter.

Similarly, what's stopping an investor from implicit control by threat of removing their investment?