If this article is correct about XAI being less than 20% of the valuation of the combined entity, after having already been diluted by the Twitter merger, the XAI cofounders and top talent that recently left had a pretty good reason to be dissatisfied with the deal. On top of which, the merger supposedly doesn't trigger change of control provisions, which if the cofounders had accelerated vesting, screws them out of being able to cash out at the merger.