Scott

Just a few reasons why it's meaningless. One, Public benefit corporation, as you say, this is a seriously bullshit concept. It's the same as ESG in the sense that it's all talk, no action. It's this new legal entity that was formed in the 2010s. I think it should never have existed. But you basically just say that you are pursuing a social goal.

Just a few reasons why it's meaningless. One, Public benefit corporation, as you say, this is a seriously bullshit concept. It's the same as ESG in the sense that it's all talk, no action. It's this new legal entity that was formed in the 2010s. I think it should never have existed. But you basically just say that you are pursuing a social goal.

and you show a little bit of evidence that you're trying to do that, some annual report saying, look, we're trying to benefit society. And if you do that, then you qualify legally as a PBC, a public benefit corporation. Any company could qualify. If Exxon wanted to be a public benefit corporation, it could be. They could just explain how they're fighting for climate change, whatever it is.

and you show a little bit of evidence that you're trying to do that, some annual report saying, look, we're trying to benefit society. And if you do that, then you qualify legally as a PBC, a public benefit corporation. Any company could qualify. If Exxon wanted to be a public benefit corporation, it could be. They could just explain how they're fighting for climate change, whatever it is.

and you show a little bit of evidence that you're trying to do that, some annual report saying, look, we're trying to benefit society. And if you do that, then you qualify legally as a PBC, a public benefit corporation. Any company could qualify. If Exxon wanted to be a public benefit corporation, it could be. They could just explain how they're fighting for climate change, whatever it is.

So that's the first thing. The second thing is they're getting rid of the cap profit structure. The third thing that I would point out, as I've said before, SoftBank said they would cut their investment if OpenAI didn't become a full for-profit by the end of the year. So I was very interested to see when this news came out what SoftBank would do.

So that's the first thing. The second thing is they're getting rid of the cap profit structure. The third thing that I would point out, as I've said before, SoftBank said they would cut their investment if OpenAI didn't become a full for-profit by the end of the year. So I was very interested to see when this news came out what SoftBank would do.

So that's the first thing. The second thing is they're getting rid of the cap profit structure. The third thing that I would point out, as I've said before, SoftBank said they would cut their investment if OpenAI didn't become a full for-profit by the end of the year. So I was very interested to see when this news came out what SoftBank would do.

Would they cut the investment from $30 billion to $20 billion like they said they would? And what do you know? They're not cutting their investment. Why aren't they doing that? Why are they keeping their original $30 billion? Because they got rid of the cap profit clause. So their issue is resolved now. They can still make a ton of money, and it's just a regular investment.

Would they cut the investment from $30 billion to $20 billion like they said they would? And what do you know? They're not cutting their investment. Why aren't they doing that? Why are they keeping their original $30 billion? Because they got rid of the cap profit clause. So their issue is resolved now. They can still make a ton of money, and it's just a regular investment.

Would they cut the investment from $30 billion to $20 billion like they said they would? And what do you know? They're not cutting their investment. Why aren't they doing that? Why are they keeping their original $30 billion? Because they got rid of the cap profit clause. So their issue is resolved now. They can still make a ton of money, and it's just a regular investment.

So that's the third point. The fourth and final point that I would say here, the only thing that makes OpenAI even slightly resemble a nonprofit is the fact that the board of the nonprofit entity technically governs them. But if OpenAI wanted to just go full steam ahead and print money, there's no chance in hell that that board is going to get in the way.

So that's the third point. The fourth and final point that I would say here, the only thing that makes OpenAI even slightly resemble a nonprofit is the fact that the board of the nonprofit entity technically governs them. But if OpenAI wanted to just go full steam ahead and print money, there's no chance in hell that that board is going to get in the way.

So that's the third point. The fourth and final point that I would say here, the only thing that makes OpenAI even slightly resemble a nonprofit is the fact that the board of the nonprofit entity technically governs them. But if OpenAI wanted to just go full steam ahead and print money, there's no chance in hell that that board is going to get in the way.

And the reason I say that is because this has already been tested. Back in 2023, when the nonprofit board thought that Sam Altman was there, they had a loss of faith in the CEO, Sam Altman, and they tried to fire him. And what happened? Sam Altman was just reinstated. And then they just installed an entirely new board of people who weren't against him. So all of this is to say,

And the reason I say that is because this has already been tested. Back in 2023, when the nonprofit board thought that Sam Altman was there, they had a loss of faith in the CEO, Sam Altman, and they tried to fire him. And what happened? Sam Altman was just reinstated. And then they just installed an entirely new board of people who weren't against him. So all of this is to say,

And the reason I say that is because this has already been tested. Back in 2023, when the nonprofit board thought that Sam Altman was there, they had a loss of faith in the CEO, Sam Altman, and they tried to fire him. And what happened? Sam Altman was just reinstated. And then they just installed an entirely new board of people who weren't against him. So all of this is to say,

None of this news actually matters. This is all just bullshit corporate speak to make you think that OpenAI is some like nonprofit. It's just a company. It's like any other company, which by the way, is not a bad thing. Like I think companies are great and they can do great things, but I'd love if they could just be honest about that recognize upfront, yeah, our goal is to make money.

None of this news actually matters. This is all just bullshit corporate speak to make you think that OpenAI is some like nonprofit. It's just a company. It's like any other company, which by the way, is not a bad thing. Like I think companies are great and they can do great things, but I'd love if they could just be honest about that recognize upfront, yeah, our goal is to make money.

None of this news actually matters. This is all just bullshit corporate speak to make you think that OpenAI is some like nonprofit. It's just a company. It's like any other company, which by the way, is not a bad thing. Like I think companies are great and they can do great things, but I'd love if they could just be honest about that recognize upfront, yeah, our goal is to make money.