Perhaps most salient is the suit filed last month by Stability AI cofounder Cyrus Hodes, who claimed the CEO convinced him to sell his 15 percent stake in the company for $100 after insisting that the company is “essentially worthless”
How bad did he need $100!? That is essentially worthless in the context of any company, even a small business. I would imagine “essentially worthless” in a company is much closer to 100k
Yeah that seems really weird. $100 is so little money that you might as well hold onto it even if it were indeed worthless.
That would only make sense if there was something external forcing the sale or some kind of liability that you could escape through selling. And I can’t see either applying here
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oof
Always remember…if someone tells you something is worthless, but they still want it, it ain’t worthless…
Persuasion level 100
How bad did he need $100!? That is essentially worthless in the context of any company, even a small business. I would imagine “essentially worthless” in a company is much closer to 100k
Yeah that seems really weird. $100 is so little money that you might as well hold onto it even if it were indeed worthless.
That would only make sense if there was something external forcing the sale or some kind of liability that you could escape through selling. And I can’t see either applying here