AI & Tech
Luca Ferrari recalls failed AI start-up left founders with $40,000
All-In Podcast
Luca Ferrari, Bending Spoons CEO: The $40K Start, Buying Product-Market Fit & Beating Private Equity
What was said
"They told us, "You guys keep it. We'll sell our shares to you for $1, like nominal value, and you go and get nice vacation." Uh we're clearly a little bit sick in the head. And so we took the money and enthusiastically turned it into uh seat financing for Benny's phones."
Luca Ferrari says an AI start-up he co-founded in 2010 failed after about three years, leaving roughly $40,000 in venture capital. He says the investor avoided liquidation and agreed to sell its shares back to the founders for $1. Ferrari says the remaining money became seed funding for Bending Spoons in 2013.
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Attributed speaker claim
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Source and context
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- Speaker
- Luca Ferrari · guest
- Programme
- All-In Podcast
- Episode
- Luca Ferrari, Bending Spoons CEO: The $40K Start, Buying Product-Market Fit & Beating Private Equity
- Clip time
- 2:36
- Original source
- Watch the source segment →
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