$1.5 Billion AI Company That Reportedly Used No Actual AI Goes Belly Up
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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.
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Reject tech, return to mechanical Turk
I expected the Turk mentioned earlier here, thanks
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I expected the Turk mentioned earlier here, thanks
I too felt the compulsion
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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.
Microsoft gets shafted
lol. lmao even.
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Don't forget softbank if there's money to piss away they are always first in live
But but Masayoshi Softbank was put on this earth to bring about AI Singularity!
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A billion dollars is a worthless amount of money, apparently. Do investors have no loved ones?
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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Isnt it "actually Indians"?
Altogether Infosys
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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.
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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OpenAI supremo Sam Altman says he 'doesn't know how' he would have taken care of his baby without the help of ChatGPT
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