#AI #GenerativeAI #OpenAI #AIHype #AIBubble: "If OpenAI does away with the profit cap, it would be redirecting a huge amount of money — prospective billions of dollars in the future — from the nonprofit to investors. Because the nonprofit is there to represent the public, this would effectively mean shifting billions away from people like you and me. As some are noting, it feels a lot like theft.
“If OpenAI were to retroactively remove profit caps from investments, this would in effect transfer billions in value from a non-profit to for-profit investors,” Jacob Hilton, a former employee of OpenAI who joined before it transitioned from a nonprofit to a capped-profit structure. “Unless the non-profit were appropriately compensated, this would be a money grab. In my view, such a thing would be incompatible with OpenAI’s charter, which states that OpenAI’s primary fiduciary duty is to humanity, and I do not understand how the law could permit it.”
But because OpenAI’s structure is so unprecedented, the legality of such a shift might seem confusing to some. And that may be exactly what the company is counting on."
https://www.vox.com/future-perfect/374275/openai-just-sold-you-out