cm0002@lemmy.world to Technology@lemmy.worldEnglish · 1 month agoOpenAI abandons plan to become a for-profit companywww.theverge.comexternal-linkmessage-square30fedilinkarrow-up1284arrow-down110
arrow-up1274arrow-down1external-linkOpenAI abandons plan to become a for-profit companywww.theverge.comcm0002@lemmy.world to Technology@lemmy.worldEnglish · 1 month agomessage-square30fedilink
minus-squareAjen@sh.itjust.workslinkfedilinkEnglisharrow-up16arrow-down2·1 month agoNo, those were the terms when the company was “for profit.” Now that they’re “nonprofit” the investors can make unlimited profit. The billions of dollars the company raised in its last two funding rounds were contingent on successfully removing this limit on investor returns.
No, those were the terms when the company was “for profit.” Now that they’re “nonprofit” the investors can make unlimited profit.