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OpenAI scuttles for-profit transformation (www.axios.com)

submitted 22 hours ago by Architeuthis@awful.systems to c/techtakes@awful.systems

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Kind of sounds like ultimately it would have been very illegal to do.

"We made the decision for the nonprofit to retain control of OpenAI after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California," OpenAI board chairman Bret Taylor said in a statement.

Asked about Musk's suit on a call with reporters, Altman said, "You all are obsessed with Elon, that's your job — like, more power to you. But we are here to think about our mission and figure out how to enable that. And that mission has not changed."

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[–] froztbyte@awful.systems 8 points 13 hours ago

(caveats: ianal, and not familiar enough with US corp law)

took a brief look at this last night and no, don’t think it entirely kills it. they’re changing two notable things: one is converting from whatever they are into a Public Benefit Corp, and the second is turning their weirdo ownership thing into actual stock

while those AG paragraphs do indeed indicate that they got told to get fucked, perverse incentives still apply and saltman still needs to try find a way out of the squeeze they’re in. don’t think they’d be doing either of those changes if they didn’t see a possible path to exploiting it