1mo ago

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

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

The website for Builder.ai says, "We believe the power of software can unlock every human’s potential." Unfortunately, that credo apparently didn't work

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

50 comments

Most honest AI company.
- Not only that, it provided job for people rather than cutting them

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.
- Model growth company right there. They forgot the block chain and some NTFs, then everything would surely have worked out....
- Isn’t this the model Capitalist?
  No, because it paid its workers.

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.
- 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!
- The eco friendly AI. They give you an incorrect wall of bullshit but don't need a dedicated power plant to make it happen.
- AI -> Actually Indians

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"?
  
  I've seen it as "An Indian"
  
  Altogether Infosys

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.
- We had 100+ classifying text by hand for a customer on India. The costumer thought it was Deep Learning back then.
- Also see the "autonomous taxi" services that, when encountering anything outside the limited scope their programming can handle, are remotely operated by human drivers.

AI is a fucking buzzword
- It's really good at something. The MBAs just haven't figured it out yet.
  
  Like anything with hype, it can funnel money
- AAI
- The good thing is there are some nice Als out there, I suggest go talking to one even the weird polka one

Reject tech, return to mechanical Turk
- I expected the Turk mentioned earlier here, thanks
  
  I too felt the compulsion

all humans, no intelligence
Maybe hire smart humans instead of dumb ones 🤷🏻‍♂️

The planet is healing.

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.
  
  Just rename Estonia to EstoniAI and people will apparently send you $1.5 billion no questions asked.
- wo needs loved ones when you have money?
- You don't get to investor levels of money with empathy.

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 !

"All humans, no intelligence"
Yeah seems like it bud

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

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

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.