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OpenAI's Investors Don't Own It (bloomberg.com)
18 points by JumpCrisscross on Dec 11, 2023 | hide | past | favorite | 16 comments


There's some news here. The OpenAI org chart changed from listing Microsoft as a "minority owner" to a "minority economic interest".

There's also an idea that vesting OpenAI employees will get much better tax treatment:

> People receiving profit interests will be granted the units upon their vesting date at no additional cost. Because of that, there’s an additional key tax benefit in that they are tax-free upon issuance and vesting, so the only tax hit would be a capital gains tax when the profit is received or sold.


There is also the novelty of their hoped-for tax treatment: “People receiving profit interests will be granted the units upon their vesting date at no additional cost. Because of that, there’s an additional key tax benefit in that they are tax-free upon issuance and vesting, so the only tax hit would be a capital gains tax when the profit is received or sold.

In contrast, with a traditional Restricted Stock Unit (RSU) that you’d see at a MAANG level company, when the RSU vests, an employee will be taxed upon receiving their RSUs immediately. This is because the RSU is essentially a percentage of equity in the company and holds a value at whatever the market rate is for that company’s stock.”



It's also not open, making its very name a fraud.


It’s also not artificial intelligence.

It’s electron state in a synthetic machine which has learned nothing about the world through its own agency and curiosity but the “sit, stay” demands of organic intelligence.

Universe already made matter twinkle with consciousness. Humans should come up with something actually new


Artificial Intelligence has been an academic discipline since 1956. Don't get distracted by science fiction: what OpenAI do is absolutely part of that discipline.


Academics have no authority to demand others normalize to their opinions.

I went through academia. They wanted people to come up with ideas back then.

Now they want people to normalize to theirs.

It’s just people in rooms waving around prestige words. None of them have broken physics. They normalize descriptions of observation, often incorrectly at great cost to others

Characterizing them like popes and tribal shaman whose outputs are inviolable truth is really odd

The symbolic logic and leaky abstractions of academics are crude approximations, not accurate representations of reality for which even a tiny inch of space would require infinite logic to describe. The translation to human language always leaves even more detail out.

Academia is often peddling a marketing gimmick to sell society on. Academics are people looking to capitalize first


Microsoft isn't micro, making its very name a fraud


> Microsoft isn't micro, making its very name a fraud

No. The majority of their business for their entire history has been making soft for micros.


Given that OpenAI was named that way because it was meant to be open, a nonprofit, I think that your retort is not helpful.


So i if i add "legal services" to the name of my creative writing company (because our services are not illegal) no one should be surprised when the results don't work out well in court, right?


you ever licked an apple? tastes nothing like the fruit.

what’s sad is that it isn’t limited to tech.

papa johns? not for a while it hasn’t been.

the list goes on, but you better sit down first…


They make microcomputer software. Seems legit.


I don't know, the idea that you could produce a sophisticated business system that suddenly stops one day because you bet on OpenAI seems like a really bad idea and one that nobody will say you didn't see coming.


How much control over something is required until it becomes ownership?

The company of Theseus.


paywall




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