LessWrong (Curated & Popular) “Why Did Elon Musk Just Offer to Buy Control of OpenAI for $100 Billion?” by garrison
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Feb 11, 2025 Elon Musk makes waves with a staggering $97.4 billion bid to control OpenAI, stirring debate over the switch to a for-profit model. The implications for AI governance and the valuation of OpenAI's assets are dissected. Tensions rise as Musk's legal challenges surface, raising critical questions about board responsibilities and AI safety. Amidst this chaos, responses from key players like OpenAI's CEO reveal a mix of jest and seriousness, highlighting the high stakes in the evolving landscape of artificial intelligence.
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Musk's Bid for OpenAI
- Elon Musk offered $97.4 billion to acquire OpenAI's non-profit's assets, including control over its for-profit arm.
- This bid aims to disrupt OpenAI's restructuring into a fully for-profit company.
Control Premium and AGI Valuation
- OpenAI's non-profit board's control and fiduciary duty to humanity complicate the valuation of its assets.
- Michael Dorff highlights the difficulty in pricing control over AGI, given its potentially infinite value.
OpenAI's For-Profit Conversion
- OpenAI's conversion to for-profit involves transferring control and removing investor return caps.
- This shift raises concerns about prioritizing profits over the non-profit's original mission.
