《1.5 Billion Valuation Goes to Zero Overnight! Indian Programmers 'Human AI' Write Code, Scamming 450 Million in Financing Over 8 Years》
Crow summarized
Indian programmers collectively 'pretended to be AI' writing code, fooling investors and scamming 400 million dollars over 8 years, eventually the boss ran away, the company went bankrupt, leaving behind a mess!
Crow provides a breakdown of the core information
1. How was the scam played?
Hanging a sheep's head to sell dog meat: The company boasted about using AI to automatically develop apps, but in reality, all the code was manually typed by Indian programmers, pretending it was done by AI.
Drawing a big pie to raise funds: Fabricated a story about 'making apps with AI like making a pizza,' deceiving investors out of 450 million dollars, of which 400 million was burned.
2. Why could they scam for 8 years?
Acting skills were on point: They claimed to clients 'AI automatically generates,' but in the background, humans were coding, and even the clients didn't notice.
Financial fraud: Falsified accounts to exaggerate income, owed money to suppliers, and tricked banks into lending.
3. How was it exposed?
Funding chain collapsed: The latest round of investors noticed something was wrong and froze 37 million dollars; the company was left with only 5 million dollars, and directly applied for bankruptcy.
Clients were dumbfounded: The app was not maintained, and the code couldn't be modified, only realizing 'AI was fake, programmers were real.'
4. Where did the boss go?
Ran away early: The founder resigned as CEO in February and was also exposed for money laundering in India, leaving the new CEO to take the blame, filing for bankruptcy just two months after taking over.
Deeper impact
Investor PTSD: Trust in the AI sector collapsed; in the future, when hearing 'AI automation,' check to see if there are real people in the background first.
New paths for programmers: In the future, job postings will say 'AI actors, required to pretend to be robots typing, salary based on acting skills.'
Industry unspoken rules: It turns out 'AI+' companies = old technology + PPT + Indian outsourcing; this wave reveals the industry's dirty laundry.
Crow believes the lessons ordinary people can learn
1. Beware of 'AI is万能' boasting:
Whenever someone boasts about 'AI one-click XXX,' first think: Does this task really not require human involvement?
2. Don't trust PPTs in investments:
Founders may talk about 'disrupting industries,' but might not even know how to code.
3. Indian outsourcing is a double-edged sword:
Cheap is genuinely cheap, but collaborating with the boss to scam money can be ruthlessly harsh.
Crow summarizes
Builder.ai this company = Indian programmers cosplaying robots + founder fancy scamming + investors blindly throwing money.
Crow's friendly reminder: Next time you see someone bragging about AI, ask one question - Does your AI eat curry?
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