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.worldEnglish
    181·
    1 year 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.worldOPEnglish
      22·
      1 year ago

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

      • SinningStromgald@lemmy.worldEnglish
        11·
        1 year 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