I'd counter that at this level of capital, if the CEO doesn't well align with the capital, then super-control shares will be overpowered by super-lawyers and if there is need some super-donations. OpenAI was a public interest company...
I'd counter that at this level of capital, if the CEO doesn't well align with the capital, then super-control shares will be overpowered by super-lawyers and if there is need some super-donations. OpenAI was a public interest company...
Not at all. Especially at that level of capital. It’s the equity equivalent of „if you owe a bank a million dollars, you’re in trouble. If you owe a bank a billion dollars, the bank is in trouble”.
Capital is extremely fungible. Typically extremely overleveraged. Lawyers are on the other hand extremely overprotective. They won’t generally risk the destruction of capital, even in slam-dunk cases. Vide WeWork.
This is fundamentally incorrect.