Stability AI’s board has appointed Shan Shan Wong, the chief operating officer, and Christian Laforte, the chief technology officer, as interim replacements for Mostaque while they search for a permanent CEO.
Mostaque founded Stability AI in 2020 and self-funded the company initially. The company gained popularity with the release of its open-source text-to-image generation model called Stable Diffusion in 2022. Stability AI later secured outside investment of $101 million at a valuation of $1 billion.
The Stable Diffusion models have been used by various companies to build and launch their own applications, resulting in hundreds of millions of downloads and countless AI images on the web. The boom in AI image generators and AI imagery would not have been possible without Stable Diffusion.
However, Stability AI has faced challenges and controversy during Mostaque’s tenure. Forbes magazine conducted an investigation that suggested Mostaque had exaggerated his resume and role in founding the Stable Diffusion models. Mostaque denied these allegations but admitted to not technically having degrees from Oxford as listed.
Stability AI has also faced legal issues. Co-founder Cyrus Hodes sued the company, claiming that Mostaque deceived him about the company’s value when Hodes sold his stake. The company is also involved in a lawsuit by artists alleging copyright violations.
Despite these challenges, Stability AI has continued to develop and release new models. Most recently, they introduced Stable Video 3D. Mostaque has faced personal attacks on social media, describing a campaign against him to paint him as unreliable and suggesting a “paid campaign” against him.
In conclusion, Emad Mostaque’s resignation from Stability AI marks a significant change for the company. As they search for a new CEO, Stability AI will continue to navigate the challenges they have faced and work towards their mission of decentralized AI. The impact of Stable Diffusion and the company’s models cannot be denied, as they have played a crucial role in the development of AI image generators. Despite controversy and legal issues, Stability AI has persevered and delivered new and impressive models. Only time will tell what the future holds for Stability AI and the field of AI as a whole.
