this post was submitted on 21 May 2025
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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Of course, it has long been known that some private investors would buy shares in any company just because its name contains letters like “.com” or “blockchain”. However, if a company invests half a million in an ".ai" company, shouldn't it make sure that the business model is actually AI-based?
Maybe, if we really wanted to replace something with AI, we should start with the VC investors themselves. In this case, we might not actually see any changes for the worse.
Edit: Of course, investors only bear part of the blame if fraud was involved. But the company apparently received a large part of its funding in 2023, following reports of similar lies in as early as 2019. I find it hard to imagine that tech-savvy investors really wouldn't have had a chance to spot the problems earlier.
The Register said in its Builder.AI obit that the company is really into making its devs use AI coding. lol.