In an internal all-staff letter addressing recent market volatility, MiniMax founder and CEO Yan Junjie said the company’s long-term direction is unchanged. Effective immediately and until the company achieves AGI, Yan will receive no salary. Over the next four years he will allocate from his personal holdings shares equal to 4% of the company’s total share capital to incentivize long-term team members, and set aside 1% to establish a dedicated fund to support related open-source communities.