this post was submitted on 13 Dec 2024
48 points (100.0% liked)

TechTakes

1481 readers
364 users here now

Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.

This is not debate club. Unless it’s amusing debate.

For actually-good tech, you want our NotAwfulTech community

founded 1 year ago
MODERATORS
dgerard@awful.systems
48
SF tech startup Scale AI, worth $13.8B, accused of widespread wage theft (archive.md)
submitted 5 days ago by swlabr@awful.systems to c/techtakes@awful.systems
8 comments fedilink hide all child comments
 

original link

you are viewing a single comment's thread
view the rest of the comments
[–] Dhs92@programming.dev 12 points 5 days ago (2 children)

How is it still a startup if it's worth almost $14b

[–] Architeuthis@awful.systems 13 points 5 days ago (1 children)

If you never come up with a marketable product you can remain a startup indefinitely.

[–] Soyweiser@awful.systems 10 points 5 days ago* (last edited 5 days ago)

Also calling yourself a startup makes it a lot easier to abuse your naive young techworkers. "This is just how things go with a startup mindset, your partner and kids will be fine you saw them last month"

E: another startup thing (saw Eat Just from the vatmeat thing did this, but also see Trump/Musk as notable examples), just dont pay or pay your suppliers extremely late.

[–] swlabr@awful.systems 10 points 5 days ago (1 children)

It's probably worth 14B in the way a fire that you feed 14B of cash into is worth 14B

[–] Soyweiser@awful.systems 7 points 5 days ago

Yeah that we just go "this is what the stocks are worth if we sold them all now" never feels correct as a valuation of companies for me. It is all so illiquid.