OpenAI announced a new structure in which its nonprofit will maintain control over its newly designated public benefit corporation (PBC). This allows the nonprofit to be a significant shareholder, potentially enhancing its capacity to pursue its mission alongside shareholders. The Delaware attorney general expressed support for retaining nonprofit control, while others, like Public Citizen's Robert Weissman, voiced concerns about the absence of limitations to ensure the for-profit aligns with the nonprofit's humanitarian goals. These changes come as OpenAI's valuation reaches $300 billion.
The nonprofit will control and also be a large shareholder of the PBC, giving the nonprofit better resources to support many benefits.
I intend to review it for compliance with Delaware law by ensuring that it accords with OpenAI's charitable purpose.
This leaves us where we are, which is with a nonprofit purportedly controlling a for-profit but exercising no visible restraint.
Our mission remains the same, and the PBC will have the same mission.
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