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SF tech startup Scale AI, worth $13.8B, accused of widespread wage theft (archive.md)

submitted 1 week ago by swlabr@awful.systems to c/techtakes@awful.systems

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[–] Dhs92@programming.dev 12 points 1 week ago (2 children)

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

[–] Architeuthis@awful.systems 12 points 1 week ago (1 children)

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

[–] Soyweiser@awful.systems 9 points 1 week ago* (last edited 1 week 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 1 week 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 1 week 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.