this post was submitted on 23 Mar 2024
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This is the best summary I could come up with:
Stability AI founder and chief executive Emad Mostaque has stepped down from the top role and the unicorn startup‘s board, the buzzy firm said Friday night, making it the second hot AI startup to go through major changes this week.
Stability AI, which has been backed by investors including Lightspeed Venture Partners and Coatue Management, doesn’t have an immediate permanent replacement for the CEO role but has appointed its COO Shan Shan Wong and CTO Christian Laforte as interim co-CEOs, it said in a blog post.
He additionally asserted that it was his decision to step down from the top role as he held the most number of controlling shares.
In a post on X last year, he expressed his amusement at the generative AI companies’ “strange focus on revenue” even as “the technology is useful but far from vaguely mature as new breakthroughs happen almost daily.” He cited several examples, including MagicLeap, which spent billions before generating revenue.
“The payoffs on proper generative AI R&D are clearer and faster to market than just about anything we’ve seen.
It’s going to create way more economic value than self driving cars for example, the total investment in that has been $100b with no revenue pay off,” he wrote.
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