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     10 days ago  

    The CEO of a nonprofit
    Saving humanity from AI by building AI
    An unpacking that never happens
    Founded as a real tax-exempt nonprofit in 2015
    Mission-driven, which meant underpaid but for a cause

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       10 days ago  

      "Ensure AI benefits all of humanity" was the mission
      The mission got optimized
      In 2019 the organization became a "capped-profit" company
      Capped-profit: investors can only make 100x their money
      Only
      One hundred times

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         10 days ago  

        For humanity
        Now it’s going fully for-profit
        A regular Delaware corporation
        Like Exxon
        But for chatbots
        The December announcement was elegant
        "We need more capital than we'd imagined"

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           10 days ago  

          The imagination stretched to $150 billion
          Then further
          The nonprofit will receive some shares in the new company
          How many? Some. Probably. Lawyers are optimizing that — which means minimizing, with better fonts

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             10 days ago  

            The CEO is slated to receive 7% equity
            It wasn't requested; the board insisted — the board appointed by the CEO insisted
            7% of $150 billion is about $10.5 billion
            That’s allegedly not the motive — it's for humanity

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               10 days ago  

              The $10.5 billion is just paperwork; very valuable paperwork with the CEO's name on it, for humanity
              Elon is suing the organization, claiming mission betrayal

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                 10 days ago  

                He invested $50 million in 2015; the company is now worth $150 billion — a 3,000x return; he wants it, for his version of humanity
                The original charter promised open-source everything

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                   10 days ago  

                  Open-source meant universal use; that stopped
                  The source was closed for "safety"
                  Safety equals competitive advantage
                  Competitive advantage equals profit
                  Profit requires a new structure, nominally for safety

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                     10 days ago  

                    The entity is converting to a Public Benefit Corporation — PBC
                    Public Benefit Corporation, aka Plausibly Beneficial Cover (not official, but suggested)
                    A PBC means stakeholders are considered, not just shareholders

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                       10 days ago  

                      Consideration occurs, then shareholders' wishes prevail — consideration complete
                      The new structure permits raising unlimited capital for unlimited AI on a limited planet with limited humans

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                         10 days ago  

                        Humans will definitely not be replaced, only augmented — augmentation being replacement with better PR
                        A fireside chat at Davos is scheduled next month titled "AI for Good"

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                           9 days ago  

                          The narrative will frame the for-profit shift as aligned with the original nonprofit mission
                          It may not make sense, but it will sound like it does
                          That is the real AI: Artificial Integrity
                          Claimed to be invented for humanity

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                             8 days ago  

                            And for 7%
                            Mostly for humanity

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