They're selling shares but it doesn't look like they're cashing out to me. Dario is going from 3.6% to 3.2% and then also losing 2% of his voting power.
Sure, he's putting aside the possibility of being a 10 trillionaire in exchange for merely being a billionaire and then maybe being a 100 billionaire later. But, I mean at some point there's diminishing returns on having a mountain of cash that would make a dragon blush.
EDIT. Despite evidence to the contrary, I remain bearish on frontier models. However, unless I'm missing something the evidence also shows that Dario et al remain bullish. Except they're taking the reasonable route of also having a giant pile of money.
Unless of course I'm missing something.
I just think it sends the wrong message. The only people who get to sell any stock at the opening are the 7 musketeers… and given how poorly IPOs have been doing it seems extremely unfair.