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How does this change their organizational model now they have VC money? > “Nobody has any voting rights except our employees — no billionaires, big funds, gove
by pantojax45 4y ago
How does this change their organizational model now they have VC money?
> “Nobody has any voting rights except our employees — no billionaires, big funds, governments or anyone else with control of the company or the communities we support. We’re completely independent,” Mostaque told TechCrunch in a previous interview. “We plan to use our compute to accelerate open source, foundational AI.”
- vasco 4y ago> We’re completely independent After taking $100 million of other people's money, were they born yesterday?
- sytelus 4y agoNew way of founding allows founders to retain 100% control. Facebook and Google are examples in their early years.
- vasco 4y agoOwning voting shares is quite different from being independent. Investors had plenty of influence on those companies regardless of the founders setting up dual class shares. If you think a startup with investors operates the same way as one without, and that it can be independent the same way, I'm not sure what to say.