"Current and former OpenAI employees have grown increasingly frustrated by the fact that the company hasn't allowed them to donate their equity to charity in years. But OpenAI has finally seemed to bow to pressure, sending out an email from the company's equity team stating that current and former employees with eligible shares will be able to participate, according to a memo viewed by The Verge."
"A source familiar with the situation told The Verge that the company is about 18 months late in delivering on its promise, adding that it's especially concerning because charitable donation of equity is something that the company has used in the past as a way to attract new employees - especially as the AI talent wars heat up. OpenAI rival Anthropic offers optional equity donation matching at a 1:1 ratio, for "up to 25% of your equity grant," per its careers webpage."
OpenAI has informed eligible current and former employees that they can donate equity shares to charity after years of restrictions. The change follows employee frustration and comes approximately 18 months later than expected. Donating equity could enable employees who received large grants in 2019 to contribute millions to charity. The company previously used equity donation as a recruitment incentive while rivals such as Anthropic offer equity donation matching programs. The donation window comes with a quick-turnaround deadline for participants to decide on amounts and specifics, shorter than typical SEC-mandated time periods for similar transactions.
Read at The Verge
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