- cross-posted to:
- technology@lemmy.zip
- cross-posted to:
- technology@lemmy.zip
Despite seemingly having nothing else in the pipeline and the AI Pin being dead on arrival, Bloomberg reports the company is “seeking a price of between $750 million and $1 billion in a sale.”
So this is scam right? Overpromise on a product that doesn’t work then sell the company for some huge price because it’s cutting edge technology? Because it feels like a scam.
Anything with “AI” in the title is a cash grab with very little actual technical worth except the models and training data.
Pretty much anything with AI on the tin is a scam. Because when an AI product gets a useful valuable application, it immediately changes name to something else.
Yeah, the product was a boondoggle. Trying to sell the company after that launch, with nothing else in the pipeline, is a scam.
They’re all scams. This one’s just more obvious.
It’s just how the us economy works
Scam how? Selling pre-launch could have been a scam. Money taken from investors could have been a scam, depending on what they pitched. But selling after a complete and known flop of a release? There’s no cards left on the table to be scammy about. “Here’s our brand name. Here’s our patent collection. We’d like to think our patents are worth a ton of money, but we know we’d be lucky getting twenty million.”
My assumption is that, since they were always going to be about collecting, processing, and selling data (usually what AI is used for commercially) that they might have what they think is between 500m and 1b in data to sell.
This might be enough to start a company from or just to assimilate the data into your own company.
The price tag has to be over estimated though by quite a lot. If we read a story about the company selling for a few million, I dont think it would seem outrageous.