126
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 21 Nov 2023
126 points (95.7% liked)
Technology
59242 readers
3194 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
Incorrect. OpenAI LLC (the traded company) does not have a board of directors. The board of directors actually belong to the parent company, simply "OpenAI", which is a nonprofit organization -- the only thing that they're beholden to is the OpenAI company charter.
Here's a simplified breakdown:
Board of Directors =[controls]=> OpenAI (non-profit) =[controls]=> OpenAI LLC =[employs]=> OpenAI CEO
OpenAI LLC is obligated to act in the best financial interest of their shareholders, but OpenAI LLC does not actually have control over who sits in the CEO chair. That power goes to the non-profit "OpenAI" parent company -- a company beholden to their board, not shareholders.
Aah! That's more than I knew. Thanks for the lesson! Then it definitely makes sense that they wouldn't have a case.