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by dreamcompiler
429 days ago
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I wish there was a way to write a poison pill clause into a company's founding charter, such as "We will not be evil, and should the day arrive when we become evil, the company shall be liquidated and all its IP shall become open source under the MIT license. 'Evil' is described below..." and one of the many ways to be evil would of course be to require users to be online and/or to log into an account before using the service. Or to suddenly decide to make a profit after starting as a nonprofit, like OpenAI.
Such a clause would have to be completely understood by VCs and investors prior to investing. If no investors wanted to invest under these circumstances, so be it. This is the only kind of company I'd ever want to be a founder of. |
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The structure provides a way for leadership to refuse to act in ways that counter the company’s charter.
More here: https://en.m.wikipedia.org/wiki/Benefit_corporation