“If OpenAI were to retroactively remove profit caps from investments, this would in effect transfer billions in value from a non-profit to for-profit investors,” Jacob Hilton, a former employee of OpenAI who joined before it transitioned from a nonprofit to a capped-profit structure.
I’m sure the investors weren’t selling him on the idea that if they got a bigger return he would as well, surely.
Ok, so a business loan, no big deal. Oh … what’s this?
Well that doesn’t sound good, I would like some reassurance. Constellation, what say you?
Ah good. A company that for sure is going to hold to its word and not shaft the state or tax payers. Great!
Super, a for profit company worth 3.11 trillion USD (as of 1:25pm EDT) that just needs government handouts for it’s business based on choices it has made to further its own worth. That sounds great, I’m sure taxpayers will get a return on that investment right? Right??
OK, so $3 billion minus $1.6 billion equals $1.4 billion, minus whatever Microsoft gets as a handout (likely equal to or more than $1.6 billion) equals potential negative billions? Yay capitalism! I’m so happy that the US is willing to help small businesses like this.