"Despite being one of the most valuable companies in the world, OpenAI is still technically a nonprofit. That structure was designed back in 2015 to keep investors from steering artificial intelligence onto paths that could harm humanity. It's also what set the stage for the dramatic board coup in 2023 that briefly ousted Sam Altman as CEO. And now, OpenAI is trying to shake its nonprofit structure so it can raise even more money and, eventually, go public."
"I'm joined today by Catherine Bracy, CEO of TechEquity, and Orson Aguilar, CEO of LatinoProsperity. They help run EyesOnOpenAI, a coalition of advocacy groups that's challenging OpenAI's attempted restructuring. As you'll hear, Catherine and Orson argue that OpenAI has enjoyed the advantages of being a nonprofit while drifting away from its mission. It's a complicated and fascinating story that cuts to the heart of how the most important AI company in the world is structured and the impacts of that structure."
OpenAI remains technically a nonprofit despite becoming one of the world's most valuable companies. The nonprofit structure was created in 2015 to prevent investor influence from steering AI toward harmful outcomes. That structure helped set the stage for a 2023 board coup that briefly ousted Sam Altman as CEO. OpenAI now seeks to change its structure to raise more capital and potentially go public. EyesOnOpenAI, led by TechEquity and LatinoProsperity leaders, challenges the restructuring, arguing OpenAI has benefited from nonprofit status while drifting from its mission. OpenAI pointed to a May blog post from Sam Altman claiming the restructuring will still create the "largest and most effective nonprofit in history," fueling public and regulatory scrutiny.
Read at The Verge
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