$1.5 Billion AI Company That Reportedly Used No Actual AI Goes Belly Up

Comments

• Deflated0ne@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Most honest AI company.

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  • cmgvd3lw@discuss.tchncs.de ⁨3⁩ ⁨weeks⁩ ago

    Not only that, it provided job for people rather than cutting them

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• ininewcrow@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

  Isn’t this the model Capitalist?

  It doesn’t matter what they offer. It doesn’t matter what they build. It doesn’t matter if it’s real or not. It doesn’t matter if it is beneficial or not. It doesn’t matter if it is ethical or not. It doesn’t matter if it is moral or not. It doesn’t matter if it is respectful or not.

  All that matters is that it made money.

  That is the sign of a true Capitalist.

  Congratulations on winning that contest.

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  • nodiratime@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Model growth company right there. They forgot the block chain and some NTFs, then everything would surely have worked out…

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  • Initiateofthevoid@lemmy.dbzer0.com ⁨3⁩ ⁨weeks⁩ ago

    dared to falsely report 300% revenue for investors

    I mean, they specifically didn’t make as much money as they claimed to make, so no. That’s pretty much the one mortal sin you can actually commit as a capitalist - accept the capital of other capitalists under false pretenses and then fail to generate returns on their investments.

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    • ininewcrow@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

      They play the game as long as possible.

      It’s like a religion at this point in history.

      If you have enough people who blindly believe in the whole thing, no matter how absurd, everything continues to grow and expand. Once enough people lose faith, then the whole system comes crashing down.

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  • UnderpantsWeevil@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Isn’t this the model Capitalist?

    No, because it paid its workers.

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• UnderpantsWeevil@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  AI company

  Uses no AI

  Honestly, the smartest thing they could do

  Bilks investors for $1.5B and then just walks off with the money

  Incredible. Who did they bilk?

  Microsoft

  Lolz.

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  • Tangent5280@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Microsoft gets shafted

    lol. lmao even.

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  • Jimmycakes@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Don’t forget softbank if there’s money to piss away they are always first in live

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    • boonhet@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

      But but Masayoshi Softbank was put on this earth to bring about AI Singularity!

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  • hypeerror@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    The eco friendly AI. They give you an incorrect wall of bullshit but don’t need a dedicated power plant to make it happen.

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• andybytes@programming.dev ⁨3⁩ ⁨weeks⁩ ago

  AI is a fucking buzzword

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  • cantstopthesignal@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    It’s really good at something. The MBAs just haven’t figured it out yet.

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    • Ebber@lemmings.world ⁨3⁩ ⁨weeks⁩ ago

      Like anything with hype, it can funnel money

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  • ChickenLadyLovesLife@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    AAI

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  • supersquirrel@sopuli.xyz ⁨3⁩ ⁨weeks⁩ ago

    The good thing is there are some nice Als out there, I suggest go talking to one even the weird polka one

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• markstos@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Years ago there was a voice to text transcription service sold as automated that worked by people listening to your voicemails and typing them out.

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  • barneypiccolo@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

    That still exists, they run TV ads all the time. The ads even have print that says that someone listens to the callers and types out what they say.

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  • Railcar8095@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

    We had 100+ classifying text by hand for a customer on India. The costumer thought it was Deep Learning back then.

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  • Lyrl@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

    Also see the “autonomous taxi” services that, when encountering anything outside the limited scope their programming can handle, are remotely operated by human drivers.

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• Gradually_Adjusting@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Reject tech, return to mechanical Turk

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• Kolanaki@pawb.social ⁨3⁩ ⁨weeks⁩ ago

  all humans, no intelligence

  Maybe hire smart humans instead of dumb ones 🤷🏻‍♂️

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• tabular@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  A Billion dollars is a worthless amount of money, apparently. Do investors have no loved ones?

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  • boonhet@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

    1.5 billion is enough to give everyone in my country about a grand. Won’t change most people’s lives, but I bet it would help thousands of people out of a debt cycle and a lot of people could pull the trigger on some appliance or maybe a car repair that they’ve been putting off. Estonia isn’t poor, but it’s far from rich, even after all those startups.

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    • Hobo@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      Just rename Estonia to EstoniAI and people will apparently send you $1.5 billion no questions asked.

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  • desktop_user@lemmy.blahaj.zone ⁨3⁩ ⁨weeks⁩ ago

    wo needs loved ones when you have money?

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  • ArchmageAzor@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    You don’t get to investor levels of money with empathy.

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• TomMasz@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  The planet is healing.

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• _cnt0@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

  To be fair, intelligence isn’t found in anything marketed as “AI”. This one being a scam using humans, actually featured intelligence.

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• misterdoctor@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Can’t wait for the investigative podcast that explains how fucked up this place was

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  • emergence_trailblazer@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    Make it a Netflix series like the one on Elisabeth Holmes, and I’m in !

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• brown567@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

  “All humans, no intelligence”

  Yeah seems like it bud

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• dinckelman@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  That’s just the reality of half of these companies. Inflated revenue reports, no actual work done, and at best they are just a shit chatGPT wrapper

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• PixelatedSaturn@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Funny. I’m thinking some people made a lot of money.

  On the other hand, I think Lemmy folks would be pleased, that an ai company didn’t harm the environment 😀

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  • MCasq_qsaCJ_234@lemmy.zip ⁨3⁩ ⁨weeks⁩ ago

    I don’t know how Lemmy users would react if Helion Energy achieves its goal before 2028.

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• RememberTheApollo_@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Somebody might actually get in trouble here for pissing off rich people. Regardless, the common investor will just get hosed.

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• brown567@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

  Cool motive, still investment fraud XD

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• 4shtonButcher@discuss.tchncs.de ⁨3⁩ ⁨weeks⁩ ago

  Archive Link or alternative source? This crappy site refuses to load due to my AdBlock

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  • Occhioverde@feddit.it ⁨3⁩ ⁨weeks⁩ ago

    web.archive.org/…/ai-company-builder-bankrupt/

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  • kirk781@discuss.tchncs.de ⁨3⁩ ⁨weeks⁩ ago

    Which Adblock are extension are you using ( Adblock Plus by any chance?)? I just tried on mobile Firefox with uBlock Origin and rendered fine.

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    • 4shtonButcher@discuss.tchncs.de ⁨2⁩ ⁨weeks⁩ ago

      Interestingly it loads today. I have AdAway on my phone and PiHole in my home network

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• toastmeister@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

  Reminds me if Upstart

  m.youtube.com/watch?v=E_YIZyVzymA

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