OpenAI’s history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.
The company’s board is considering a decision that would change the company into a public benefit corporation, according to a source familiar with the discussions who wasn’t authorized to speak publicly about them.
While OpenAI already has a for-profit division, where most of its staff works, it is controlled by a nonprofit board of directors whose mission is to help humanity. That would change if the company converts the core of its structure to a public benefit corporation, which is a type of corporate entity that is supposed to help society as well as turn a profit.
This was so predictable. It seems they only care about profits now, and also positioning themselves to be a monopoly, so they really haven’t been compatible with the non-profit model for a while. Especially since they just raised more than $6 billion.
It’s truly amazing to me that a “non-profit” that has disingenuously represented itself from day one, and is based almost entirely on the theft of intellectual property that would get normal individuals prosecuted out the ass, can continue to rake in absurd amounts of cash. I really dislike this company.
The government should just nationalize them