OpenAI’s new for-profit plan leaves many unanswered questions

Openai has left the controversial reset plan. Dramatic reverse, company Monday said He no longer won’t try to separate the profit from the non-profit board from the contensator. “We decided to decide for non-profit and contact constructive dialogue with the offices of the Delaware Prosecutor General and the California Prosecutor General and the constructive dialogue,” he said.

Openai defended the non-profit organization of the existing structure to do not allow the non-profit organization to work more than managing for profit. In addition, he said he needed more money, two months later The new investment is $ 6.6 billion. “We have to raise more capital than we imagine again,” the company wrote in December. “Investors want us to return us, but in this scale of capital need conventional capital and less structured attachment.”

Openai’s previous plan for a non-profit plan for a non-profit plan, calling for the absolute control for profit, the amount of the exchange made through the exchange process

This was the controversial part of Openai’s plan, including former workers. Labor and non-commercial groups And even Elon muskThe proposal expressed the opposition. Now the company says that there will be a non-profit non-profit control and will be “big shareholder in PBC.”

“How are your non-profit management? How will this goal be developed?” asks Jill HorwitzA professor of visitors at Northwestern University. “We know that the press planned to appoint members of the board of Opende. This will happen forever? Who will be?

Another way sheep, Openai, did not tell the exact structure that intends to implement it. According to Professor Michael DorffExecutive Director of the Lowell Milken Institute of Law and Politics Institute in UCLA, the company can accept one of several different choices.

“If you had a vote on a share, if you get a department, they would choose a plaque. Only the majority of their shares can be nonprofom, and then choose the majority of the board. Therefore, at least for a while.

“More stable management regulations, nonprofit subjects will be in a classroom or super voting shares, and say that there are the right to choose a part of a more or a better part and choose the majority of the board.”

In short, the company did not say that he planned to provide his non-profit non-profit control. Non-profit, there may be a “great” share to start, but there are several different ways for distribution. Although now, the company can now give aside the idea of ​​an IPO, the company can still give new shares or exercise a stock splitting. If Openai does not have non-profit non-profit rights, this is weakened by the company’s control.

According to BloombergMicrosoft has not yet signed an Openai’s offer. The company was approximately Opeinai $ 14 billion. According to the terms of the October financing period, Openai had two years to become a profit. If he could not do this, it will be a $ 6.6 billion debt provided. Of course, we do not know, but the issue of control, the company’s financial future is the front and center in the negotiations between the company’s financial future and Microsoft and Openai. The complex issues are the fact that any initiative of the two initiatives, California and Delawaver are sealed by the state lawyer.

“We look forward to progressing in the details of this plan in a continuous conversation [the state AGs]Microsoft and our newly designated non-profit commissions wrote in Altman’s letter.

The parts of the previous plan of Openai remain unchanged. As before, the company will reorganize its subsidiary for its earnings Social benefit Corporation. Thus, Openai still plans to eliminate the current closed profit structure that restricts the return of the investor to 100x, the current indoor profit structure that restricts the excessive profit for non-profit. Openai should still record a profit; As last year, the company was registered around $ 5 billion casualties.

“It’s not selling, but the simpler thing is the change in something,” he said. “Instead of our existing complex capacity, we may have a dominant Agi effort, but not in a world of many Greater Agugi, but not everyone’s shares.”