OpenAI's Investors Don't Own It

https://www.bloomberg.com/opinion/articles/2023-12-11/openai-s-investors-don-t-own-it

by JumpCrisscross • 3 years ago

18 16 3 years ago

bloomberg.com

ycombinatrix• 3 years ago

paywall

ioblomov• 3 years ago

https://archive.ph/HDEgt

ShadowBanThis01• 3 years ago

It's also not open, making its very name a fraud.

stillwithit2• 3 years ago

It’s also not artificial intelligence.

It’s electron state in a synthetic machine which has learned nothing about the world through its own agency and curiosity but the “sit, stay” demands of organic intelligence.

Universe already made matter twinkle with consciousness. Humans should come up with something actually new

simonw• 3 years ago

Artificial Intelligence has been an academic discipline since 1956. Don't get distracted by science fiction: what OpenAI do is absolutely part of that discipline.

keep_reading• 3 years ago

Microsoft isn't micro, making its very name a fraud

stonogo• 3 years ago

They make microcomputer software. Seems legit.

zizee• 3 years ago

Given that OpenAI was named that way because it was meant to be open, a nonprofit, I think that your retort is not helpful.

tivert• 3 years ago

Microsoft isn't micro, making its very name a fraud

No. The majority of their business for their entire history has been making soft for micros.

endofreach• 3 years ago

So i if i add "legal services" to the name of my creative writing company (because our services are not illegal) no one should be surprised when the results don't work out well in court, right?

catchnear4321• 3 years ago

you ever licked an apple? tastes nothing like the fruit.

what’s sad is that it isn’t limited to tech.

papa johns? not for a while it hasn’t been.

the list goes on, but you better sit down first…

kaycebasques• 3 years ago

There's some news here. The OpenAI org chart changed from listing Microsoft as a "minority owner" to a "minority economic interest".

There's also an idea that vesting OpenAI employees will get much better tax treatment:

People receiving profit interests will be granted the units upon their vesting date at no additional cost. Because of that, there’s an additional key tax benefit in that they are tax-free upon issuance and vesting, so the only tax hit would be a capital gains tax when the profit is received or sold.

JumpCrisscross• 3 years ago

There is also the novelty of their hoped-for tax treatment: “People receiving profit interests will be granted the units upon their vesting date at no additional cost. Because of that, there’s an additional key tax benefit in that they are tax-free upon issuance and vesting, so the only tax hit would be a capital gains tax when the profit is received or sold.

In contrast, with a traditional Restricted Stock Unit (RSU) that you’d see at a MAANG level company, when the RSU vests, an employee will be taxed upon receiving their RSUs immediately. This is because the RSU is essentially a percentage of equity in the company and holds a value at whatever the market rate is for that company’s stock.”

aeternum• 3 years ago

How much control over something is required until it becomes ownership?

The company of Theseus.

vaxman• 3 years ago

I don't know, the idea that you could produce a sophisticated business system that suddenly stops one day because you bet on OpenAI seems like a really bad idea and one that nobody will say you didn't see coming.

OpenAI's Investors Don't Own It

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