Elon Musk will withdraw bid for OpenAI's nonprofit if its board agrees to terms | TechCrunch
Elon Musk will withdraw bid for OpenAI's nonprofit if its board agrees to terms | TechCrunch
A lawyer for Elon Musk said the billionaire will withdraw his bid for OpenAI's nonprofit if OpenAI's board of directors agree to terms.
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This bid is an attempt at a threat because it overvalued the perceived value of the non profit side of openai.
Openai has a known perceived total value. (dont know how much exactly) Musk wants to lay the argument that by refusing his bid. Most of that value is in the non profits side and thus less in the for profit side.
This is a threat because the profit side is where openai partners, like Microsoft have their stake. So its lowering the perceived monopoly money of those shareholders.
Of course can be ignored. OpenAi has stated they can refuse on many other reasons unrelated to the bidding price.
Also OpenAi is a fascist collaborator just like musk.
Source: ai explained yt channel
Could they not refuse because they simply don't want to sell?
In a way they can but the rich live in a very weird world of pretend so depending on what their answer is there may be pretend consequences and altered perception of their worth.
Altman responded that simply their charter of "for benefit of all man kind" is enough reason to decline but he carefully mentioned that the actual bidding price would not matter to come to that decision. He is friends with fascists but not stupid.
Shareholders can sue if the board doesn't do the thing that will maximize shareholder value. Probably the basic underlying problem with companies that sell stock.
What shareholders?
This is not how the US works. Your assets belong to me now.
