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So he's not using his own money, and he has enough personal wealth that there is no impact to him if the company fails. It's just another rich guy enjoying his
by coldpie 11mo ago
So he's not using his own money, and he has enough personal wealth that there is no impact to him if the company fails. It's just another rich guy enjoying his toys. Good on him, I hope he has fun, but the responsibility for failure will be held by his employees, not him.
- daveguy 11mo agoLeCun's net worth is estimated between 5-10 million. Just for payroll of 10 AI researchers at 300k/yr would cost over $3 million per year. And his wealth probably isn't fully liquid. Given payroll + compute he would be bankrupt in a year. Of course he's not using just his own money. However, I expect he will be a major investor. Most founders prefer to maintain some control.
- IncreasePosts 11mo agoHe's been leading a large, important organization at Meta for 13 years. The stock has 10x'd in that time. He's almost certainly worth way more than that. Those random google sites that talk about net worth have no real idea what they're guessing at and are more akin to clickbait
- daveguy 11mo agoOk, great. So he'll only lose 10% of his net worth per year if it fails. Better for some VC to lose 1% of their net worth per year. The point is, VC money for an AI venture is not chump change even for someone with a $10-$100MM net worth. The point still stands, including his own expected investment.