Slate Money A Second Gold Toilet!?
27 snips
Nov 1, 2025 The discussion kicks off with OpenAI's shift from non-profit to for-profit, sparking debates about public benefit and oversight. Rising Affordable Care Act premiums are dissected, revealing the harsh realities of escalating health costs. The spotlight also shines on Maurizio Cattelan’s gold toilet, with a second one uncovered and set for auction amid soaring gold prices. From art to healthcare, the hosts weave together a tapestry of cultural commentary and financial insights!
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OpenAI's New Hybrid Structure
- OpenAI reorganized from a 501(c)(3) nonprofit into a structure where a nonprofit holds ~25% and a for-profit PBC controls operations.
- That setup lets OpenAI raise large venture capital and prepare for an IPO while claiming public-benefit oversight.
PBC Label Offers Little Protection
- A public benefit corporation label is easy to adopt and easy to abandon, offering little hard constraint.
- A PBC status without independent certification doesn't reliably prevent profit-driven choices.
B Corp Certification vs. PBC
- B Corp certification (by B Lab) is a stricter third-party standard than PBC status.
- Felix and Elizabeth warn companies not to call themselves B Corps unless certified.