Let's see how this plays out. PBC effectively means nothing - just take a look at Xai and its purchase of Twitter. I would love to listen reasoning explaining why this ~33 billion USD move is benefiting public.
There was never a coherent explanation of its firing the CEO.
But they could have stuck with that decision if they believed in it.
Then things went unexpectedly well, people were valuing them at billions of dollars, and they suddenly decided they weren't open any more. Suddenly they were all about Altman's Interests Safety (AI Safety for short).
The board tried to fulfil its obligation to get the nonprofit to do the things in its charter, and they were unsuccessful.
But they found themselves alone in that it turns out the employees (who were employed by the for-profit company) and investors (MSFT in particular) didn't care about the mission and wanted to follow the money instead.
So the board had no choice but to capitulate and leave.
Right; so, "Worker Unions" work.
Not being snarky here, like what is the purported thesis behind them?
Some founders truly believe in structuring the company for the benefit of the public, but Altman has already shown he's not one of them.
This is true for literally any transaction. Actually, it's true for any rational action. If you're being tortured, and you decide it's not worth it to keep your secrets hidden any longer, you get more than you give up when you stop being tortured.
edit: to be clear, it's not a bad thing - we should want companies that create consumer surplus. But that's the default state of companies in a healthy market.
It’s called prisoners dilemma when even the government is propping this up.