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@simple@lemmy.world to Technology@lemmy.worldEnglish • 2 years ago

Co-founder of Stability AI, worth billions, says he was tricked into selling stake for $100

www.semafor.com

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Co-founder of Stability AI, worth billions, says he was tricked into selling stake for $100

www.semafor.com

@simple@lemmy.world to Technology@lemmy.worldEnglish • 2 years ago
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Co-founder of Stability AI, worth billions, says he was tricked into selling stake for $100 | Semafor
www.semafor.com
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Cyrus Hodes said he sold his 15% stake to CEO Emad Mostaque just before the firm raised $101 million at a $1 billion valuation.
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  • @mikkL@lemmy.world
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    17•2 years ago

    I can’t figure out, why you would ever accept such an low offer. $100 for something worth potentially more sounds ridiculous. How much did he need the money? 😅

    Am I missing something?

    • @simple@lemmy.worldOP
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      22•2 years ago

      It is ridiculous, but according the article the CEO hid stable diffusion from him and told him the company was failing.

      • @SinningStromgald@lemmy.world
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        11•2 years ago

        It all sounds very far fetched to be honest. There will either be a very hush hush settlement or a very public trial. And

    • @MKBandit@lemmy.world
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      6•2 years ago

      Yeah makes 0 sense. I would just ride to the death instead of $100

  • @electronicoldman@lemmy.fmhy.ml
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    14•
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    2 years ago

    a

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