Co-founder of Stability AI, worth billions, says he was tricked into selling stake for $100 | Semafor
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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.
@mikkL@lemmy.world
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91Y

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?

@MKBandit@lemmy.world
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51Y

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

@simple@lemmy.world
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131Y

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

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

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