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Is there a thorough analysis of OpenAI's for-profit restructuring? Surely, a Delaware lawyer who specializes in these types of conversions has written a blog somewhere.
I don't believe there are any details about the restructuring, so a detailed analysis is impossible. There have been a few posts by lawyers and quotes from lawyers, and it is about what you would expect: this is extremely unusual, the OA nonprofit has a clear legal responsibility to sell the for-profit for the maximum $$$ it can get or else some even more valuable other thing which assists its founding mission, it's hard to see how the economics is going to work here, and aspects of this like Altman getting equity (potentially worth billions) render any co... (read more)