Really sad to see. Emad pivoting to posting crypto nonsense on twitter made me think the writing is on the wall for Stability, but I still didn't expect it so soon. I expect they'll pivot to closed models and then fade away.
Emad Mostaque resigned as CEO of Stability AI
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Re: Emad Mostaque resigned as CEO of Stability AI
#22The underlying reason is that current AI businesses and models are failing to capture any significant economic value. We're going to get there, but it will take some more work. It won't be decades, but a few more years would be helpful
AI businesses/models are capturing economic value: the problem is that costs are increasing much faster than revenue.
Re: Emad Mostaque resigned as CEO of Stability AI
#23[flagged]
Re: Emad Mostaque resigned as CEO of Stability AI
#24Previous controversy involving the CEO (2023): https://www.forbes.com/sites/kenrickcai/2023/06/04/stable-di... “ In reality, Mostaque has a bachelor’s degree, not a master’s degree from Oxford. The hedge fund’s banner year was followed by one so poor that it shut down months later. The U.N. hasn’t worked with him for years. And while Stable Diffusion was the main reason for his own startup Stability AI’s ascent to pr…
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Re: Emad Mostaque resigned as CEO of Stability AI
#25[flagged]
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Re: Emad Mostaque resigned as CEO of Stability AI
#26The underlying reason is that current AI businesses and models are failing to capture any significant economic value. We're going to get there, but it will take some more work. It won't be decades, but a few more years would be helpful
AI businesses/models are capturing economic value: the problem is that costs are increasing much faster than revenue.
No, Stability isn't getting 99.99% of the money people are making from Stable Diffusion. Their (lack of a) business model is the problem.
Re: Emad Mostaque resigned as CEO of Stability AI
#27Looks like many AI startups are experiencing a bit of some turbulence and chaos in the recent months: First the OpenAI rebellion in November, then the Inflection AI acqui-hire from Microsoft not willing to pay the over-valued $4B and deflected that to $600M instead (after making $0 revenue) and now a bit of in-stability at Stability AI with the CEO resigning after many employees leaving. What does that say about the…
Wait you're telling me you can't make the next trillion dollar industry by incinerating capital while making no money?
Re: Emad Mostaque resigned as CEO of Stability AI
#28Really sad to see. Emad pivoting to posting crypto nonsense on twitter made me think the writing is on the wall for Stability, but I still didn't expect it so soon. I expect they'll pivot to closed models and then fade away.
> Really sad to see. Emad pivoting to posting crypto nonsense on twitter made me think the writing is on the wall for Stability
Open-source AI is a race to zero that makes little money and Stability was facing lawsuits (especially with Getty) which are mounting into the millions and the company was already burning tens of millions.
Despite being the actual "Open AI", Stability cannot afford to sustain itself doing so.
Re: Emad Mostaque resigned as CEO of Stability AI
#29Previous controversy involving the CEO (2023): https://www.forbes.com/sites/kenrickcai/2023/06/04/stable-di... “ In reality, Mostaque has a bachelor’s degree, not a master’s degree from Oxford. The hedge fund’s banner year was followed by one so poor that it shut down months later. The U.N. hasn’t worked with him for years. And while Stable Diffusion was the main reason for his own startup Stability AI’s ascent to pr…
He did provide thousands of GPUs for training all those open-source and open-weights models, no?
Re: Emad Mostaque resigned as CEO of Stability AI
#30The underlying reason is that current AI businesses and models are failing to capture any significant economic value. We're going to get there, but it will take some more work. It won't be decades, but a few more years would be helpful
AI businesses/models are capturing economic value: the problem is that costs are increasing much faster than revenue.
With the current limitations of AI in mind, it often looks like a solution looking for a problem. It's too unreliable, slow, dumb, and too expensive for a lot of the tasks companies would like to use it for.
And that becomes part of the problem because it's hard to sell unreliable technology unless you design the product in a way that plays well with the current shortcomings. We will get there, but it's still a few iterations away.