Key Structure Changes:
- Abandoning the "capped profit" model (which limited investor returns) in favor of traditional equity structure - Converting for-profit LLC to Public Benefit Corporation (PBC) - Nonprofit remains in control but also becomes a major shareholder
Reading Between the Lines:
1. Power Play: The "nonprofit control" messaging appears to be damage control following previous governance crises. Heavy emphasis on regulator involvement (CA/DE AGs) suggests this was likely not entirely voluntary.
2. Capital Structure Reality: They need "hundreds of billions to trillions" for compute. The capped-profit structure was clearly limiting their ability to raise capital at scale. This move enables unlimited upside for investors while maintaining the PR benefit of nonprofit oversight.
3. Governance Complexity: The "nonprofit controls PBC but is also major shareholder" structure creates interesting conflicts. Who controls the nonprofit? Who appoints its board? These details are conspicuously absent.
4. Competition Positioning: Multiple references to "democratic AI" vs "authoritarian AI" and "many great AGI companies" signal they're positioning against perceived centralized control (likely aimed at competitors).
Red Flags:
- Vague details about actual control mechanisms - No specifics on nonprofit board composition or appointment process - Heavy reliance on buzzwords ("democratic AI") without concrete governance details - Unclear what specific powers the nonprofit retains besides shareholding
This reads like a classic Silicon Valley power consolidation dressed up in altruistic language - enabling massive capital raising while maintaining insider control through a nonprofit structure whose own governance remains opaque.
A lot of HN readers conceptualize the forces attacking the integrity of the search results as just some isolated people taking occasional potshots, and then maybe slinking away if their trick gets blocked.
It is probably a lot more accurate to visualize the SEO industry as a Dark Google. Roughly as well resourced, with many smart people working on it full time, day in, day out, with information sharing and coordination. It isn't literally one company, but this conception is probably a lot closer then the one in the heads of most people reading this. Dark Google is motivated, resourced, and smart.
And then, once I started thinking of it that way for this post, I realized that increasingly.... Google is increasingly at beck and call of Dark Google. They're increasingly the real customers of Google and the real source of money. It's why Google just seems to be getting worse and worse for us... it's because we're not the real customers any more. Dark Google rules.
And if Dark Google has not yet figured out how to scam AI... it is only a matter of time. Dark Google is where Google gets its money now. When Dark Google turns its attention to AI fully, OpenAI will be no more able to resist its economic incentives than Google did.
Can't wait for the first screenshot of someone searching for the impact of the battle of Gettysburg on the civil war and seeing the AI do its subtle best to slide an add for Coca Cola into it in some semantically bizarre manner.
I can already show up at a US embassy or consulate anywhere in the world and provide them my passport serial number to have a new one cut in an hour if I've lost mine, the gap to close is not big policy wise. Otherwise, we're relying on "magic government credential" which can be held hostage to hold a human hostage. Silliness.
(India maintains the largest biometrics ID system in the world, Aadhaar, containing the records of 1.3B people: https://www.csmonitor.com/World/Asia-South-Central/2022/0425...)
Do you have any sources to confirm this?