Anthropic Puts 5% of Its Shares Into a Public Benefit Fund

Anthropic says roughly 20% of its shares are now committed to the public good.

Anthropic announced the Anthropic Public Benefit Fund on October 18. It is a new wholly owned entity “dedicated entirely to the public benefit,” the company says, and it will start with 5% of Anthropic’s shares.

For every 50% increase in the company’s value over a set baseline, Anthropic can contribute up to an extra 2%, subject to its board’s discretion. @kimmonismus adds that the plan is subject to shareholder approval.

Anthropic says its co-founders have already pledged to donate 80% of their equity. Around half its employees donate a portion of their equity through a donation matching program the company has run since its founding.

What the fund will pay for is still open.

@kimmonismus quotes the company: the fund “will have increased flexibility and scale,” and Anthropic “might explore large donations to traditional nonprofits or direct distributions to specific populations.”

In his reading, the fund could support nonprofits or make direct payments to specific groups affected by AI, but it is not a commitment to universal basic income. He also reports that Elon Musk supports the idea and is calling for more direct payments to the general population.

The Rundown AI led its Monday roundup with the story, under the line “Anthropic designs a pay package for the public.” The same roundup lists “Anthropic data shows junior employees losing ground.”

The fund follows a remark by Anthropic co-founder Jack Clark that @kimmonismus quoted on Sunday: “I believe that this year, we’ve gained convincing evidence that it [The Singularity] has now begun.” His read: “Even if you don’t believe that we have entered the singularity, Anthropic assumes that we have.”