$1.5 Billion AI Company That Reportedly Used No Actual AI Goes Belly Up
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Much of “AI” is labour arbitrage, delegating the work to workers in countries with lower wages and weaker labour protections while pretending that the machine that interposes between them is doing it. There’s a joke that AI stands for “absent Indians”.
Isnt it "actually Indians"?
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
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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Can’t wait for the investigative podcast that explains how fucked up this place was
Make it a Netflix series like the one on Elisabeth Holmes, and I'm in !
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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.
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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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
Cool motive, still investment fraud XD
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
"All humans, no intelligence"
Yeah seems like it bud
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
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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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
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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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.
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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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
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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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.
Isn’t this the model Capitalist?
No, because it paid its workers.
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
A billion dollars is a worthless amount of money, apparently. Do investors have no loved ones?
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A billion dollars is a worthless amount of money, apparently. Do investors have no loved ones?
wo needs loved ones when you have money?
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
all humans, no intelligence
Maybe hire smart humans instead of dumb ones
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Isnt it "actually Indians"?
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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.
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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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.
Don't forget softbank if there's money to piss away they are always first in live
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not only created a fake AI company that was ‘all humans, no intelligence,'” he also “dared to falsely report 300% revenue to investors.”
Name: builder.ai
AI is a fucking buzzword
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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
I don't know how Lemmy users would react if Helion Energy achieves its goal before 2028.
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AI is a fucking buzzword
It's really good at something. The MBAs just haven't figured it out yet.
