Sam Altman

There is a subsidiary capped profit so that our investors and employees can earn a certain fixed return.

And then beyond that, everything else flows to the nonprofit.

And the nonprofit is like in voting control, lets us make a bunch of nonstandard decisions, can cancel equity, can do a whole bunch of other things, can let us merge with another org, protects us from making decisions that are not in any like shareholder's interest.

So I think as a structure, it has been important to a lot of the decisions we've made.

It was really like,

To do what we needed to go do, we had tried and failed enough to raise the money as a nonprofit.

We didn't see a path forward there.

So we needed some of the benefits of capitalism, but not too much.

I remember at the time someone said, you know, as a nonprofit, not enough will happen.

As a for-profit, too much will happen.

So we need this sort of strange intermediate.

where apple and these and meta are playing we can't control what other people are going to do um we can try to like build something and talk about it and influence others and provide value and you know good systems for the world but they're going to do what they're going to do now i i think right now there's like

extremely fast and not super deliberate motion inside of some of these companies but already i think people are as they see the rate of progress already people are grappling with what's at stake here and i think the better angels are going to win out can you elaborate on that the better angels of individuals the individuals and companies but you know the incentives of capitalism to create and capture unlimited value

I'm a little afraid of, but again, no, I think no one wants to destroy the world.

No one wakes up saying like today, I want to destroy the world.

So we've got the Malik problem.

On the other hand, we've got people who are very aware of that.

And I think a lot of healthy conversation about how can we collaborate to minimize some of these very scary downsides.

And even then, like, we're on a team of many.

There'll be many teams.