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I think it could have easily been predicted just from the initial announcements. You can't create a public charity simply from the donations of a few wealthy individuals. A public charity has to meet the public support test. A private foundation would be a better model but someone decided they didn't want to go that route. Maybe should have asked a non-profit lawyer?

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Maybe the vision is to eventually bring UBI into it and cap earn outs. Not so wild given Sam’s world coin and his UBI efforts when he was YC president.

The public support test for public charities is a 5-year rolling average, so "eventually" won't help you. The idea of billionaires asking the public for donations to support their wacky ideas is actually quite humorous. Just make it a private foundation and follow the appropriate rules. Bill Gates manages to do it and he's a dinosaur.

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