dcrazy
Joined 2 years ago
Joined 2 years ago
Google is already feeling pain from this.
It was meaningless to Musk for all of about a week, when he came off his ketamine binge and realized what a stupid offer he’d made. But it was a done deal by that point.
According to Reddit[0], it might not have been meaningless to employees with unvested RSUs. They lacked an acceleration clause, so instead of immediately becoming 100% vested at $54.20, the schedule remained intact with a cash payout instead of stock. If the cash payout was relative to current company value, then it was a massive hit.
[0]: https://www.reddit.com/r/Twitter/comments/yykn1e/if_you_work...
The valuation crashing back to reality after going private, and therefore being measured by its intrinsic worth rather than whatever the latest trader paid for a share of it, was an inevitable but meaningless consequence.
Though Anthropic is claiming that the compromised package was published solely to Cursor’s marketplace, not not Microsoft’s.