Privacy Guides @lemmy.one ForgottenFlux @lemmy.world 6 mo. ago

Proton is transitioning towards a non-profit structure

proton.me Proton is transitioning towards a non-profit structure | Proton

To ensure our mission always comes first, Proton is transitioning to a non-profit structure and formalizing our promise of people before profits.

9 comments

This is great news
Just renewed at $200 for a 2 year subscription. Wonder if I can make it tax deductible.
- I never thought of that. Thanks for the idea
  
  For it to be tax deductible it needs to be a donation to a registered 501(c)(3) where no goods or services were received in exchange for the donation.
Mmm...I haven't read the article yet (will do!), but why should the owner of a profitable company make it unprofitable? 🤔
- This is the important paragraph on the article
  
  Because Proton has no venture capital investors, we can take this additional step to secure the future. Swiss foundations do not have shareholders, so Proton will no longer be dependent upon the goodwill of any particular person or group of persons. Instead, Swiss foundations and their board of trustees are legally obligated to act in accordance with the purpose for which they were established, which, in this case, is to defend Proton’s original mission. As the largest voting shareholder of Proton, no change of control can occur without the consent of the foundation, allowing it to block hostile takeovers of Proton, thereby ensuring permanent adherence to the mission.
  
  This is an unexpected benefit of being in Switzerland. Here I was thinking it was more or less a marketing thing
- Being a non-profit is only "unprofitable" in so much as it won't enrich anyone. But they do usually operate in the black. The original owner(s) just aren't interested in selling out/cashing in, so they have reworked the company so that all profits are reinvested into the mission.

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