Tensions are rising in Silicon Valley over startup stock sales
Sohail Prasad, an entrepreneur, launched a fund called Destiny Tech100 in March. The fund owns shares of tech start-ups such as payments company Stripe, rocket maker SpaceX and artificial intelligence company OpenAI.Few people have the opportunity to invest in these private companies since their shares are not openly traded. Mr Prasad's intention with Destiny was to let the rest of the world receive a share of it through his fund.But soon after Destiny's debut, two tech startups — Stripe and Plaid, a banking service — said the fund didn't legally own their shares. One contestant criticized Destiny as "too good to be true." Robinhood, the stock trading app, stopped allowing investors to buy into the fund, saying it had been added to its app in error.Mr Prasad was not surpris...