Oops, when I heard about it I’d gotten the impression that this had been adopted by at least one AI firm, even a minor one, but I also can’t find anything suggesting that’s the case. Thank you!
It looks like OpenAI has split into a nonprofit organization and a “capped-profit” company.
The fundamental idea of OpenAI LP is that investors and employees can get a capped return if we succeed at our mission, which allows us to raise investment capital and attract employees with startup-like equity. But any returns beyond that amount—and if we are successful, we expect to generate orders of magnitude more value than we’d owe to people who invest in or work at OpenAI LP—are owned by the original OpenAI Nonprofit entity.
OpenAI Nonprofit could act like the Future of Life Instutute’s proposed Windfall Trust, and a binding commitment to do so would be a Windfall Clause. They could also do something else prosocial with those profits, consistent with their nonprofit status.
Oops, when I heard about it I’d gotten the impression that this had been adopted by at least one AI firm, even a minor one, but I also can’t find anything suggesting that’s the case. Thank you!
It looks like OpenAI has split into a nonprofit organization and a “capped-profit” company.
OpenAI Nonprofit could act like the Future of Life Instutute’s proposed Windfall Trust, and a binding commitment to do so would be a Windfall Clause. They could also do something else prosocial with those profits, consistent with their nonprofit status.