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0 pointsseizethecheese1y ago0 comments

“Decoupling” is such a strange euphemism for removing an asset worth north of $100b from a nonprofit.

0 comments

OpenAI Global LLC is the $100b asset. It’s not being removed, the nonprofit will still own all the shares it owns now until it decides to sell.

The shares will be diluted - the LLC used to be 100% owned by the non-profit; and now there's no bottom.

Normally shareholders aren’t ok with that.

j / k navigate · click thread line to collapse

0 pointsseizethecheese1y ago0 comments

“Decoupling” is such a strange euphemism for removing an asset worth north of $100b from a nonprofit.

OpenAI Global LLC is the $100b asset. It’s not being removed, the nonprofit will still own all the shares it owns now until it decides to sell.

The shares will be diluted - the LLC used to be 100% owned by the non-profit; and now there's no bottom.

Normally shareholders aren’t ok with that.

j / k navigate · click thread line to collapse