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by asb 938 days ago
> Here’s the reality of the matter, though: whether or not you agree with the Sutskever/Shear tribe, the board’s charter and responsibility is not to make money. This is not a for-profit corporation with a fiduciary duty to its shareholders; [...] to the extent the board believes that Altman and his tribe were not “build[ing] general-purpose artificial intelligence that benefits humanity” it is empowered to fire him; they do, and so they did.

I would quibble with this slightly. They do have a right to fire, but they're doing a poor job of working in the not-for-profit's interests if they do so in a way that collapses the value of their biggest asset (the for-profit), especially when other options are potentially available. e.g. a negotiated exit, providing proper warning to their investors etc etc.