Why did OpenAI go from non-profit to a capped-profit company? Sam Altman explains
OpenAI CEO Sam Altman has explained the logic behind the San Francisco-based startup's decision to transition from a nonprofit to a for-profit company in 2020.
OpenAI CEO Sam Altman has explained the reason why the San-Francisco based startup pivoted from a non-profit company to a capped-profit company in 2020. Founded in 2015 by notable names in Silicon Valley including Sam Altman, Elon Musk and LinkedIn cofounder Reid Hoffman, OpenAI was a non-profit company until 2020. The current structure allows investors to earn upto 100 times on their investment but nothing over that.