Among many other impacts, one that I worry may be longer lasting is the suppression effect on philanthropic work more generally. But nonprofits are filled with courageous people with deep moral conviction, so they all may just double down!

And this is why Paul Weiss should never have settled. The firm is a distressed target for everyone now. In fairness, Trump’s foul EO may simply have made the end of PW an inevitability, just a matter of time. But at least they would’ve gone down riding on principles and with reputations intact.

Look at this beauty! #bloomscrolling #dahlias

Immigration judges are not real judges (they’re part of the Administration), but their rulings can have profound and devastating effects on people’s lives

This is quite powerful. Heart-wrenching stories about our cruel immigration system.

I feel for Jerry. The intent was solid. But, no offense, that “unique merger agreement” was very poorly drafted, and it set up the “Independent Board” for its ultimate failure and this result. Not only were the IB’s mission terms too vague to have real strength, but it’s structure was unsustainable.

This is also the reason cited by Brad Karp — major clients depend on a functioning relationship with the federal government and if Trump’s feud with PaulWeiss threatens those relationships then the clients themselves have a fiduciary duty to find new counsel that can work with the Trump government.

I deleted an earlier post (too much swearing) where I basically say the same thing … There’s a common misconception that law (fiduciary duties) requires corp directors/ officers to make money for stockholders. But in fact the profit pressure comes from the markets, and quarterlies are part of it.

What the attorneys had to go through to get Covid protections enacted in detention centers is an untold story

Wow. Incredibly disappointed in UC Berkeley. I hope no one was involved from @ucberkeleylaw.bsky.social

This knowledge is basically staying siloed in law firms and philanthropic / investment orgs. Despite my (and others) efforts to get it out to the public. The world’s wealthiest clients pay insane rates for this info, and I’m just skeeting it out for free?! 😘 Lmk where to send the bill lol

I will add, the reason OpenAI is in this mess is because this area of law is SO complicated — counsel at the time (no names) thought they could wing it and ended up creating this monstrosity. So the real experts have stepped in to try to clean it up. But it’s like putting the milk back in the jar :)

Important read for nonprofit counsel!

The whole responsible investing movement was spearheaded by some badass nuns :) and they continue to be major leaders in the space

Words as beautiful as they are painful

Same scene when I teach about for-profit/non-profit tandem entities and students ask me about OpenAI

Good thread on OpenAI. This is not obvious to most corporate people. :) This is a highly specialized area of corporate law that most practitioners never touch and most academics don’t understand. I have a few quibbles (lawyer!), but basically I agree with the good professor. Link below to my 🧵💚

lol we should all just pick up and move our charitable assets out of the state to avoid private benefit scrutiny

This whole OpenAI restructuring project just seems like a scheme to move charitable assets into private hands, impermissibly enriching insiders cc @agrobbonta.oag.ca.gov

Isn’t this pulling assets from the c3?

Help protect the Roadless Rule! 👇

This is the way.

Someone give Ed the cap table please

When I tell people I attend fiddle camp, they look at me like huh?? But look at this absolute army of fiddlers!

UCSC undergrad enrollment numbers are down and the school may be hiding even worse grad student figures

This reminds me of how anthropologists talk about myths

No joolia see it’s a 501c3

Nice. Would love to see a chapter on philanthropy!

I’m like an old guy with a banjo about this, I only know one tune 🪕

OpenAI cannot “convert” from a for-profit to a non-profit. It wants to move its assets from the non-profit to the for-profit. That is very difficult to do for legal reasons. And it may not succeed. Re-upping earlier thread below 🧵👇

What does it say about the state of philanthropy that OpenAI is ostensibly controlled by a public charity? 🙁

this is how we bring in the notary

fine I’ll do it

This reminds me of the time I owned and operated a diamond mine…

For current and former* fact-checkers everywhere. *Once a fact-checker, always a fact-checker

Mother Jones publishes outstanding photo essays.* This one is powerful! *And I’m not just saying that bc they’ve published my photo essays before!

So then at your kid’s fancy school do they teach about scarcity mentality and the perils of a minority elite hoarding a majority of the resources?

Enjoy randomly running into a “self-licking ice cream cone” metaphor irl. I always get odd looks when I deploy it.

Love to see healthy local media bringing back “the town square” for important community discussions

I’ll raise, with a sunrise over the Keweenaw Peninsula, Michigan

Abolish ICE

Just there. The monkey stole my dad’s glasses and held them for ransom. They seem proud of their bartering abilities and won’t return your items until you offer something yummy.

Great UHNWI reputation rehabilitation opportunity just sitting right there!

Climmigration or Climigration ?

Interesting! Wonder what a list looks like for local news orgs that don’t publish a physical paper. Or if this list changes at all if it includes any non-paper or digital-only news orgs. (I imagine some local public radio stations get good traffic?)

It’s possible to structure a Public Benefit Corporation as publicly traded, but that doesn’t seem to be the intent

“taps the sign” as they say bsky.app/profile/jess...

Periodically reminded that many small farmers are deeply progressive idealists working in a very hard business

Well, I’m excited to read this new book “The Women Are Not Fine” by my wife’s coolest cousin who lives in Budapest @hopereese.com :)

My memory is that The Count of Monte Cristo was written as a weekly serial so the chapters are cleverly structured to hook you so you want to read the next week