Meta urges California attorney general to block OpenAI’s conversion, WSJ says

Meta is urging California’s attorney general to block OpenAI’s planned conversion to a for-profit company, arguing it would set a dangerous precedent of allowing startups to enjoy the advantages of nonprofit status until they are poised to become profitable, Jessica Toonkel, Keach Hagey, and Meghan Bobrowsky of The Wall Street Journal reports. In a letter, Meta wrote, “If OpenAI’s new business model is valid, non-profit investors would get the same for-profit upside as those who invest the conventional way in for-profit companies while also benefiting from tax write-offs bestowed by the government.”