Today in Equity, we take a look at some of the news you may have missed over the US holiday weekend. We start with the recent OpenAI security breach. While we don't think we need to worry too much about what the hackers actually accessed, the fact that it happened is notable. TechCrunch's Devin Coldeway argues that AI companies are treasure troves of data, making them likely to be easy targets for hackers. Companies partnering with major AI companies should beware.
We also gave an update on Fisker's bankruptcy: The EV startup asked the bankruptcy court for permission to sell its remaining inventory for $14,000 per vehicle, a significant reduction from the $70,000 Fisker was originally seeking, which has some worried that the Chapter 11 case could turn into a Chapter 7 bankruptcy.
Finally, we have seen an emerging trend of venture funds letting seed investors exercise pro rata rights to avoid diluting their shareholding. It is good for smaller funds to have the means to retain their shareholding, but the pro rata rights debate can be contentious and bringing in more capital doesn't necessarily help.
Equity will have a fascinating conversation on Wednesday between Mary Ann and angel investor and Floodgate co-founder Mike Maples Jr. We'll catch up then!
Equity is TechCrunch's flagship podcast, produced by Theresa Loconsolo and posted every Monday, Wednesday, and Friday. Subscribe on Apple Podcasts, Overcast, Spotify and allcasts.
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