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The thing you need to know about OpenAI, according to OpenAI, is that its sole purpose is to solve “the most important challenge of our time” to benefit all humanity and the whole world.
Continue to be the case, the organization said in a announcement on Friday, although it is restructuring from a corporation controlled by a non-profit corporation to a stand-alone corporation that happens to throw a lot of money at an affiliated non-profit corporation.
How does this restructuring help OpenAI fulfill its mission to benefit all humans and non-human things? Well, it’s simple. “OpenAI’s current structure does not allow the Board to directly consider the interests of those funding the mission.” Under the new structure, OpenAI’s leadership will finally be able to raise more money and pay attention to the needs of the billionaires and trillion-dollar technology companies that invest in it. Voila, everyone benefits.
Not mentioned in the press release is the fact that a year ago, the non-profit board that oversees OpenAI tried unsuccessfully to give CEO Sam Altman. “lots of lies” in ways that, according to former board member Helen Toner, made it difficult for the board to ensure that “the mission of the public good was primary of the company, came first – over profits, over the interests of investors and other things.”
With its new structure, OpenAI wants to maintain at least a facade of altruism. The for-profit company will be incorporated as a Delaware Public Benefit Corporation, which means that its board can consider how the company’s actions affect stakeholders such as employees and customers in addition to its fiduciary responsibility to the shareholders (Corporate law experts have he indicated that normal corporations are also perfectly free to do this).
Other publicly traded Delaware Public Benefit Corporations include Laureate Education, which operates a number of for-profit universities around the world, including one that has been sued. several times of students misled about the cost of their degree programs (Laureate sold Walden University before the university installation a class action lawsuit earlier this year for $28.5 million). Another is Lemonade Inc., an insurance company that once announcedand quickly apologized for, an AI feature it claimed could detect fraudulent customers by analyzing their faces.
Mixed with all the effective accelerator Salvatorism in the announcement of OpenAI, is the clear message that the new company plans to raise a ton more money to promote its push towards artificial general intelligence (AGI). According to the report from The informationOpenAI and Microsoft have defined AGI as systems that can generate at least $100 billion in profits. You know, the sign of intelligence.
What will become of the non-profit that currently oversees the company is less clear, although it certainly won’t be pinching pennies. It wasn’t a very traditional for-profit to begin with, having quickly earned $137 million in donation money from Elon Musk and other tech tycoons in addition to more than $100 million in free computing from Google, Microsoft and others to create generative. AI systems that now benefit for-profit corporations.
After the corporate transition is complete, the non-profit will have no supervisory functions in OpenAI, but will receive shares in the new for-profit company and will be “one of the best non-profit resources in history”, according to the press of OpenAI. liberation That will allow them to “pursue charitable initiatives in areas such as health care, education and science.”
Needless to say, it won’t be long before we all begin to benefit from his charity.
