Alex Heath

speaker

672 appearances 6 recordings 1 series first heard Oct 2025 last heard 3 Sep

Alex Heath’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 6 in all, peaking in Sep 2026 with 1.

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Prof G Markets · What OpenAI’s Restructuring Means for Microsoft, AGI — and a Future IPO · 29 Oct 2025 podcast

Um, and then OpenAI gets a little more flexibility, but not a ton, honestly.

They didn't get a ton of concessions from Microsoft on exclusivity.

They can use different cloud vendors, which they already were, but Microsoft still has, you know, exclusive rights to the IP through at least 20,000.

And I guess lastly, that would be the other top line is we are definitely going to get OpenAI calling AGI by 2030 because a key line in this is that uh basically by then they'll have the ability to back out of parts of the exclusivity arrangement with Microsoft if AGI is achieved.

Well, the reason this has taken so long for them to do this restructuring and why attorney generals have been looking into it, there's been lawsuits about it, Elon has been suing about it, is that OpenAI has been this whole time, even the last few years, legally a nonprofit in California.

And what they've been trying to do is create this public benefit corporation subsidiary, which they finally are now saying they have done to be able to offer equity like a normal company.

And for people to understand, I mean, the last time we were really reminded of OpenAI being a nonprofit was when Sam Altman was suddenly fired for a weekend a few years ago.

And it was because the nonprofit board had the ability to do that.

And they surprised him and did that.

Right.

Technically, that can still happen under this.

So the nonprofit, that was a key thing in the deliberations with uh the attorneys general and Dell.

Or in California, is that the nonprofit board is still, from a governance perspective, in control of the for-profit subsidiary.

So that hasn't really changed.

What's changed is that the people on that nonprofit board, I would say, are more friendly to Sam Altman than they were a few years ago.

Uh and obviously OpenAI was in a very different phase.

But uh that's a curious part of this, is like the governance isn't really changing, but for some.

Reason this is okay with regulators.

I mean, the nonprofit is getting a massive stake in open AI, you know, 26-ish percent stake worth a lot of money.

It's the most, you know, technically valuable nonprofit in the country by far.

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