This is corporate trolling. Open AI is trying to go public soon, and Elon did this to fuck with that.
Massive oversimplification but basically:
In the United States, you are required to take the best offer when selling a company, unless you can argue in court that you had reasons not to sell to whomever placed the highest bid.
Because of this offer, as open AI attempts to go public, they will have to either to be close to Elon’s bid, forced to sell to him, go to court and fight him ther, or be forced to remain private.
Lmao, musk is on record as making absurd offers and then trying everything he can to back out of them. I’m not sure why he offered this himself instead of getting a consortium of investors together to do so on his behalf without any involvement from him.
Yes, they could remain private but they are attempting to go public. This action is a legal speedbump that they must now work really hard to maneuver around.
This is corporate trolling. Open AI is trying to go public soon, and Elon did this to fuck with that.
Massive oversimplification but basically: In the United States, you are required to take the best offer when selling a company, unless you can argue in court that you had reasons not to sell to whomever placed the highest bid. Because of this offer, as open AI attempts to go public, they will have to either to be close to Elon’s bid, forced to sell to him, go to court and fight him ther, or be forced to remain private.
I feel like “look at twitter” is probably enough of a defence to decline president musk.
It would probably need to be wordier for court proceedings.
Lmao, musk is on record as making absurd offers and then trying everything he can to back out of them. I’m not sure why he offered this himself instead of getting a consortium of investors together to do so on his behalf without any involvement from him.
Isn’t this what he did with Twitter and the courts forced him to honor the offer?
But they aren’t required to sell though.
Yes, they could remain private but they are attempting to go public. This action is a legal speedbump that they must now work really hard to maneuver around.