[upwardbound]

Does that amount to making a false forward-looking financial statement? (Specifically his claim that he wasn’t interested in getting equity in the future.)

This claim he made was likely helpful in ensuring the OpenAI team’s willingness to bring him back after he was temporarily ousted by the board last year for alleged governance issues. (Basically: “don’t worry about me guys, I’m in this for the mission, not personal enrichment”)

Since his claim likely helped him get re-hired, he can’t claim it was immaterial.

I really hope someone from the SEC scrutinizes him someday. The Singularity is too important to let it be run by someone with questionable ethics.

[jacobsimon]

My unprofessional take: The SEC is concerned primarily with protecting investors. If anything, changing to a normal for-profit structure and removing the cap on returns would be viewed as more investor/market-friendly than their current structure, which is partly to blame for what unfolded last year.

[theGnuMe]

It’s not a public company? Not sure why the sec would get involved.

[WrongAssumption]

Because the SEC regulates private companies.

https://www.sec.gov/resources-small-businesses/capital-raisi...

[throwawaymaths]

This. Though the secretary of state wherever it's domiciled might get involved.