cm0002@lemmy.world to Technology@lemmy.worldEnglish · 3 days agoOpenAI abandons plan to become a for-profit companywww.theverge.comexternal-linkmessage-square28linkfedilinkarrow-up1279arrow-down110
arrow-up1269arrow-down1external-linkOpenAI abandons plan to become a for-profit companywww.theverge.comcm0002@lemmy.world to Technology@lemmy.worldEnglish · 3 days agomessage-square28linkfedilink
minus-squareAjen@sh.itjust.workslinkfedilinkEnglisharrow-up18·2 days 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.