ChatGPT maker OpenAI could soon be restructured into the design of a regular profit-generating company.
The news comes after its CEO Sam Altman is said to be having thoughts along those lines and how the firm might perform better if it was like every other organization in the works today.
The findings were first published through a new report by The Information which says an unnamed source confirmed the matter after having a personal discussion with Altman.
For those who might not be aware, the tech giant continues to run as a capped-profit firm where its profitable arm is governed by a nonprofit.
Remember, in March of 2019, we saw an article rolled out that spoke more on this front and how OpenAI wanted to get rid of its status of being a nonprofit in design. The goal was simple: to provide more means of safer AI that the global community could benefit from.
They hoped to enhance their capabilities of raising more funds while still making sure they stayed true to their goals without having any legal model that existed. This would help in striking the right balance and make sure OpenAI would function in a hybrid design that it referred to as capped profit.
Reps for OpenAI failed to generate a response on this front and requests for comments were not entertained either. But from what we’ve seen so far, the company under the leadership of Altman and support from Microsoft has witnessed its fair share of controversies.
We saw how the CEO was sent out of the company for a short while when the board agreed he wasn’t consistent in terms of his conversations.
He was accused of misrepresenting data and not releasing information to the board that really hindered them from doing their job in the right manner. Some of the allegations went as far as Altman getting accused as a liar.
Former employees referred to him as deceiving and hiding information on several occasions and that includes not being transparent about ChatGPT’s release date as well.
The fact that the board figured out the existence of the popular AI tool like the rest of the world was a huge slap in the face as they were notified about Altman’s Tweet in this regard and nothing more than that.
If that’s not enough, he was even accused of lying about what financial interests he had in the organization.
More reports on this front added how OpenAI had a Startup Fund that again was kept in the dark by the company’s directors. This is even though Altman made claims of his presence as an independent board member who didn’t have any financial interests in the organization.
So yes, there was actually a venture capital fund designed to finance AI-based startups.
Then in March, we saw OpenAI unveil through a new filing how Altman no longer had ownership or control of that particular venture capital fund. There was a statement generated on this front where the initial ownership was designed to be temporary and involved no kind of investment or interest from the CEO.
However the company’s chairman was not happy to see so much personal detail shared with the world and therefore condemned the behavior of former employees for going to this extent to defame the organization and its current CEO through a podcast.
The focus right now seems to be linked to moving ahead and ensuring OpenAI stays true to its mission of making Generative AI safe and accessible for the world to use.
Image: Solen Feyissa/Unsplash
Read next: Instagram Rolls Out New Updates To Protect Younger Users Including A Useful ‘Limits’ Feature
The news comes after its CEO Sam Altman is said to be having thoughts along those lines and how the firm might perform better if it was like every other organization in the works today.
The findings were first published through a new report by The Information which says an unnamed source confirmed the matter after having a personal discussion with Altman.
For those who might not be aware, the tech giant continues to run as a capped-profit firm where its profitable arm is governed by a nonprofit.
Remember, in March of 2019, we saw an article rolled out that spoke more on this front and how OpenAI wanted to get rid of its status of being a nonprofit in design. The goal was simple: to provide more means of safer AI that the global community could benefit from.
They hoped to enhance their capabilities of raising more funds while still making sure they stayed true to their goals without having any legal model that existed. This would help in striking the right balance and make sure OpenAI would function in a hybrid design that it referred to as capped profit.
Reps for OpenAI failed to generate a response on this front and requests for comments were not entertained either. But from what we’ve seen so far, the company under the leadership of Altman and support from Microsoft has witnessed its fair share of controversies.
We saw how the CEO was sent out of the company for a short while when the board agreed he wasn’t consistent in terms of his conversations.
He was accused of misrepresenting data and not releasing information to the board that really hindered them from doing their job in the right manner. Some of the allegations went as far as Altman getting accused as a liar.
Former employees referred to him as deceiving and hiding information on several occasions and that includes not being transparent about ChatGPT’s release date as well.
The fact that the board figured out the existence of the popular AI tool like the rest of the world was a huge slap in the face as they were notified about Altman’s Tweet in this regard and nothing more than that.
If that’s not enough, he was even accused of lying about what financial interests he had in the organization.
More reports on this front added how OpenAI had a Startup Fund that again was kept in the dark by the company’s directors. This is even though Altman made claims of his presence as an independent board member who didn’t have any financial interests in the organization.
So yes, there was actually a venture capital fund designed to finance AI-based startups.
Then in March, we saw OpenAI unveil through a new filing how Altman no longer had ownership or control of that particular venture capital fund. There was a statement generated on this front where the initial ownership was designed to be temporary and involved no kind of investment or interest from the CEO.
However the company’s chairman was not happy to see so much personal detail shared with the world and therefore condemned the behavior of former employees for going to this extent to defame the organization and its current CEO through a podcast.
The focus right now seems to be linked to moving ahead and ensuring OpenAI stays true to its mission of making Generative AI safe and accessible for the world to use.
Read next: Instagram Rolls Out New Updates To Protect Younger Users Including A Useful ‘Limits’ Feature
