What to Learn from OpenAI?

As the still-unfolding saga of OpenAI, Sam Altman, Microsoft, and the now former board of directors at OpenAI, the More or Less podcast crew produced a terrific episode, a portion of which focuses on governance. Brit Morin, one of the commentators, offered these insights:

"I am surprised that Microsoft, Sequoia, and Thrive didn't do more due diligence when they invested all this money … The board is not adequate for the type of company this has become."

This started us thinking about fit-for-purpose boards and, by extension, governance practice. While much of the subsequent OpenAI discussion focused on finessing a nonprofit plus for-profit structure, we believe the fit-for-purpose board composition and structure issue is directly relevant to our clients in education. Does your composition and structure match the business you are in today and the strategic challenges that you face?