So the non-profit retains control but we all know that Altman controls the board of the non-profit and I'd be shocked if he won't have significant stock in the new for-profit (from TFA: "we are moving to a normal capital structure where everyone has stock"). Which means that regardless of whether the non-profit has control on paper, OpenAI is now even better structured for Sam Altman's personal enrichment.
No more caps on profit, a simpler structure to sell to investors, and Altman can finally get that 7% equity stake he's been eyeing. Not a bad outcome for him given the constraints apparently imposed on them by "the Attorney General of Delaware and the Attorney General of California".
No more caps on profit, a simpler structure to sell to investors, and Altman can finally get that 7% equity stake he's been eyeing. Not a bad outcome for him given the constraints apparently imposed on them by "the Attorney General of Delaware and the Attorney General of California".