Complicated - sure. But outside bids will be needed to properly assess the fair market value of OpenAI's assets and in that regard, Elon actually may have been helpful by putting a stake in the ground with a price tag.
To the extent that OpenAI continues down the path of converting to a public benefit corporation that could well be a major improvement over its current evolution as an unwieldy combination of nonprofit-plus-for-profit arrangement, but only if OpenAI uses this transition to tidy up some important things including:
-- Embedding genuine, specific, iron-clad public-benefit mandates into the new charter
-- Properly compensating the original nonprofit for its assets (thus funding the public benefit of the nonprofit's goals)
-- Implementing stronger organizational and policy governance that, among other things, delineates conflict-of-interest policies, and establishes transparent oversight
-- Locking in an ownership stake or mechanism that enables philanthropic aims to persist over time should AI valuations skyrocket in the future
In fact, all of that is true, regardless of what form of entity OpenAI ultimately takes (even if it keeps it current form) and regardless of who ponies up the dollars. One way or another they've got to fix the structural vulnerabilities and vague boundaries that led to the controversies, legal uncertainties, board upheavals and the current condition in the first place.
Hi Garrison - If OpenAI (the non-profit) does end up with >=$40 bn any idea what their mandate for disbursing these funds would be? To put that in perspective, that would make them similar in size to some of the largest foundations in the world.
Thank you! I very much appreciate your clear analysis of this fresh development. Never a dull moment now!
Thanks for this, very helpful
I used to think I would suffer from brain fog for the rest of my life..."𝐛𝐮𝐭" this changed everything.... https://t.co/PDWI6twO0u
Complicated - sure. But outside bids will be needed to properly assess the fair market value of OpenAI's assets and in that regard, Elon actually may have been helpful by putting a stake in the ground with a price tag.
To the extent that OpenAI continues down the path of converting to a public benefit corporation that could well be a major improvement over its current evolution as an unwieldy combination of nonprofit-plus-for-profit arrangement, but only if OpenAI uses this transition to tidy up some important things including:
-- Embedding genuine, specific, iron-clad public-benefit mandates into the new charter
-- Properly compensating the original nonprofit for its assets (thus funding the public benefit of the nonprofit's goals)
-- Implementing stronger organizational and policy governance that, among other things, delineates conflict-of-interest policies, and establishes transparent oversight
-- Locking in an ownership stake or mechanism that enables philanthropic aims to persist over time should AI valuations skyrocket in the future
In fact, all of that is true, regardless of what form of entity OpenAI ultimately takes (even if it keeps it current form) and regardless of who ponies up the dollars. One way or another they've got to fix the structural vulnerabilities and vague boundaries that led to the controversies, legal uncertainties, board upheavals and the current condition in the first place.
Hi Garrison - If OpenAI (the non-profit) does end up with >=$40 bn any idea what their mandate for disbursing these funds would be? To put that in perspective, that would make them similar in size to some of the largest foundations in the world.