raised $500M+ from investors including Microsoft and QIA, riding a hyped-up story about an “AI app builder” powered by their assistant “Natasha.” They claimed their system could auto-build software. In reality it was 700 humans in India doing the work while the founders sold the illusion of automation.
They faked revenue, investors started pulling out and now it’s in bankruptcy. The $2.5B valuation is now 0.
Full-scale scam packaged as “AI.”
I don’t believe we are in an AI bubble but I do expect a lot of bs to die off.
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raised $500M+ from investors including Microsoft and QIA, riding a hyped-up story about an “AI app builder” powered by their assistant “Natasha.” They claimed their system could auto-build software. In reality it was 700 humans in India doing the work while the founders sold the illusion of automation.
They faked revenue, investors started pulling out and now it’s in bankruptcy. The $2.5B valuation is now 0.
Full-scale scam packaged as “AI.”
I don’t believe we are in an AI bubble but I do expect a lot of bs to die off.