OpenAI’s history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.
The company’s board is considering a decision that would change the company into a public benefit corporation, according to a source familiar with the discussions who wasn’t authorized to speak publicly about them.
While OpenAI already has a for-profit division, where most of its staff works, it is controlled by a nonprofit board of directors whose mission is to help humanity. That would change if the company converts the core of its structure to a public benefit corporation, which is a type of corporate entity that is supposed to help society as well as turn a profit.
The use of “Open” in their name might be against consumer laws in Europe.
They should change the name to a single letter. Like Y.
“Open” doesn’t imply “non-profit.” In fact, it doesn’t imply much of anything In that way it’s like “Active” or “Direct” which are or were used as parts of a number of Microsoft product names.
No but it implies something is open. And it was actually already questionable from the start.