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AI giant Anthropic commits 5% of shares to ‘public benefit’ fund (www.aljazeera.com)

submitted 16 hours ago* (last edited 16 hours ago) by supersquirrel@lemmy.ca to c/techtakes@awful.systems

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Such heroes! If only everyone were so generous!

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[–] rhamph@awful.systems 10 points 14 hours ago (2 children)

I expected the beneficiary would be some EA outfit, but it’s actually an entirely new company (and not any kind of charity or nonprofit) called the “Anthropic Public Benefit Fund”, which I’m sure will not at all be managed by EAs (and who would definitely not determine that the most effective altruism is sending money to Anthropic).

I like this:

Subject to stockholder approval, 5% of Anthropic’s shares will be committed today, with an additional 2% added at the board’s discretion for every 50% increase in the company’s value above a set baseline.

You like the public benefit, don’t you? Make sure you invest strongly in Anthropic and pump that valuation even higher, because there’s no other way we could choose to offer more support.

Anyway here’s their blog post on the matter, strangely not linked in the article as far as I can tell: https://www.anthropic.com/news/public-benefit-fund

[–] robjwells@awful.systems 2 points 1 hour ago* (last edited 1 hour ago)

Is this just a slightly altered repeat of when LLM companies (or was it some boosters?) argued they were so dangerous and so potentially profitable the best thing would be for the government to buy 50% - 1 of their shares?

an additional 2% added at the board’s discretion for every 50% increase in the company’s value above a set baseline

Exceedingly optimistic to suggest that they haven't already peaked in private valuation (perhaps apart from any IPO pop).

[–] BestBouclettes@jlai.lu 7 points 14 hours ago

The "totally not a scam company" creating the "absolutely not a scam corp", to definitely not scam people