Elon wants another project. You're listening to Motley Full Money.

I'm Mary Long, joined today by Jason Moser.

Jamo, always a pleasure to have you here.

Mary, thanks so much for having me.

Another day, and we have before us another Elon Musk-related news item.

The world's richest man made an unsolicited offer yesterday to buy Open AI for 97.4 billion bucks.

Altman rejected it on X.

The two kind of had a war of words play out on the social platform.

I think that there is an interesting thought experiment attached to the story, so maybe

we'll start there.

Open AI notoriously has a pretty wacky business structure. It's got a non-profit

arm, some for-profit operations. It does eventually want to transition to being a fully

for-profit company, but it's not yet there. And this is where the thought experiment comes in.

The board of a publicly traded company has an obligation to shareholders. That responsibility

is a lot murkier when you've

got a setup like that, which OpenAI has. To whom is the board of OpenAI responsible?

Well, that I think is a good question. So I dug in a little bit, and according to the National

Council of Nonprofits, all right? So we're getting this right from the source. Board members are the

fiduciaries who steer the organization towards a sustainable future by adopting sound, ethical,

and legal governance and financial management policies, as well as by making sure the nonprofit

has adequate resources to advance its mission. And so ultimately, that is the role

of the board plays in regard to a nonprofit. And I think it's also interesting to note that

...