zlacker

Also, the board made a decision without the board's chairman - Greg Brockman - involved. Also, it looks like the board didn't follow it's own internal rules about meetings.

>>norsur+(OP)
Also, the investors were not informed. It’s insane their largest investor and partner MSFT was blindsided by this. Anyone with just a little bit business sense knows this.

>>stingr+g3
This is the board of the non-profit. It has no investors. The board does not answer to anyone.

>>MacsHe+m4
And how does this non-profit pay for its immense server costs?

>>Boiled+B4
All corporations are basically Russian dolls at this point.

>>Boiled+B4
The point still stands, the board does not have "investors". Microsoft knowingly donated to the for profit entity of the non profit. Open AI isn't a PBC, it's a 501c non profit. So the board can act that way, without the knowledge of the investors.

That being said, this is a case of biting the hand that feeds you. An equivalent would be if a nonprofit humiliated its biggest donor. The donor can always walk away, claiming her future donations away, but whatever she's donated stays at the nonprofit.

>>stingr+g3
It's crazy how fast OpenAI put up the blog post

>>fakeda+W6
I hope IRS is watching this ;)

>>Boiled+B4
Non-profits still earn money recorded as net assets. They do not retain earnings at the end of the accounting period to store in shareholder’s equity because there are no shareholders that own the non-profit.

>>Boiled+B4
It seems that OpenAI had switched to pre-paid billing. If anyone is interested helping, they can go and pre-pay. And support the non-profit.

I'd guess, OpenAI without Sam Altman and YC/VC network is toothless. And Microsoft's/VC/media leverage over them is substantial.

>>lsh123+cb
Watching what? A 501c3 being publicly pressured to make key governance decisions for the commercial benefits of investors in the 501c3's for-profit indirect subsidiary rather than the board's good-faith interpretation of its charitable purpose?

Why would they care about that?

>>stingr+g3
These board members are either not serious people or they let their perceived power over a ground breaking company go to their collective heads. Either way has been quite the misplayed checkers move.

>>norsur+(OP)
where did you read about their internal rules?

>>sotix+7c
You’re interpreting it as a lawyer would, rather than considering the real-world implications of this.

>>stingr+5T
I’m interpreting it as a CPA