AI startups, and open-source forks with VC funding. A bad match.
  • Metz@lemmy.worldEnglish
    1152·
    1 month ago

    I just quit my 270 000$ job at Coinbase to join the first YCombinator fall batch with my cofounder @not_nang. We’re building PearAI, an open source AI code editor.

    Of course it is a cryptobro…

    dawgt i chatgpt’d the license, anyone is free to use our app for free for whatever they want. if there’s a problem with the license just lmk i’ll change it. we busy building rn can’t be bothered with legal

    Yep, already hate that guy. Talks and behaves like an absolute dipshit.

      • leisesprecher@feddit.org
        58·
        1 month ago

        But they made half a million.

        And there are literally hundreds of similar companies raking in billions in investments that magically vanish while the founders live a luxury live and move on.

        The real question is: why do VCs shit so much money into obvious frauds? Are they this stupid or do they just hope to pass it on to the greater fool?

        • bassomitron@lemmy.worldEnglish
          311·
          1 month ago

          $500,000 is nothing to billionaires, or even people who make hundreds of millions a year. It’s a lot to average folks like us, but to them it’s the equivalent of going to the casino with money they can afford to blow.

          But I do think you’re right about passing it on to the greater fool. They bet it’ll be the next hot product, regardless if they know it sucks or not. Then some bigger bag of money will come in and buy it up, thinking they’ll be able to somehow milk a sustainable profit out of it. You’d think by now that VCs would be smarter about the boom and bust of tech startups, but alas…

            • ✺roguetrick✺@lemmy.world
              21·
              1 month ago

              Overall billionaires wasting their money to pay for idiots that then waste it in consumption would be a tax positive, I believe. We should encourage that behavior instead of them buying assets and then extracting rents like the parasites they are. I don’t care if they get to write off the money they lose from their income.

  • LiveLM@lemmy.zipEnglish
    841·
    1 month ago

    So all it takes to get that sweet, sweet VC mula is a Vscode + extension fork with some hipster branding on top? Really???

    Aren’t these guys supposed to be tech geniuses or some shit?
    Billions of dollars and they don’t have a single actually knowledgeable intern who could glance at this project and say “yeah, no, I could do this too?”
    Or are they’re just ignoring them because AI is a glowing hot buzzword right now?

    This is baffling. The entire tech sector praises VCs like they’re god’s gift to earth, meanwhile they’re out here backing stupid shit like this, how can anyone take these people seriously?

  • Emotet@slrpnk.net
    811·
    1 month ago

    I simply can’t wrap my head around the thought process behind launching a clusterfuck like this. Y Combinator probably didn’t do their due diligence and simply rode the fading AI Bubble, so I can at least understand how the funding might have been approved.

    But actively leaving your $250,000+/year job to team up with some questionable choices to basically fork two OS projects, change the discord links and generate an illegal licence for that shit show, all while proudly stating, publicly, “dawg i chatgpt’d the license, anyone is free to use our app for free for whatever they want. if there’s a problem with the license just lmk i’ll change it. we busy building rn can’t be bothered with legal” when they are made aware of the fact.

    This is absolutely insane, sounds like someone was about to get fired and decided to use some personal relations and fresh graduates to somehow successfully cash in one last time with absolutely no regard of even the basics. Pretty wild that those guys even managed to figure out how to found a Startup. Probably asked ChatGPT for instructions there, as well.

    • rtxn@lemmy.worldEnglish
      52·
      1 month ago

      Y Combinator probably didn’t do their due diligence

      It’s not the first time. They also backed an obvious scam MMO that promised the world and more, while it was nothing more than an asset flip.

  • dinckel@lemmy.world
    761·
    1 month ago

    I genuinely just don’t understand what’s going on in the tech sector anymore

      • Duamerthrax@lemmy.world
        271·
        1 month ago

        Feels like the dotcom era all over again, but they’re better at stringing the scam along this time. Enough of the people need to believe the lie that it’s getting artificial longevity.

    • Croquette@sh.itjust.works
      261·
      1 month ago

      VC funding is basically gambling, trying to find the next billion dollar company. So they throw money at anything that has any semblance of traction to get in early and cash out when the time comes.

      • PM_Your_Nudes_Please@lemmy.world
        101·
        1 month ago

        Which is the exact same behavior that caused the dot com bubble. VC funding was throwing money at any and every dot com business, in the hopes that it would explode and lead to profits.

        All it did was massively overvalue the dot com companies, which caused a bubble when people finally realized they were overvalued and VC investors turned off the spigot of free money.

      • xenoclast@lemmy.world
        6·
        1 month ago

        Gambling with OTHER PEOPLE’S money.

        You win, you take a cut. You lose. Someone else suffers.

        These people destroy everything for greed.

  • Hegar@fedia.io
    54·
    1 month ago

    If they’ve already proven they can steal and lie, of course they’ll get VC money.

  • Mwa@lemm.eeEnglish
    312·
    1 month ago

    Tbh I don’t think I wanna interact with ai anymore

  • some_guy@lemmy.sdf.org
    14·
    1 month ago

    I saw something a few days ago where they were said to have mass-replaced the name of the software with their new name (in the code). Supposedly, little or nothing else changed. Y Combinator used to be better than this, at least I thought they were.

  • SuperiorOne@lemmy.mlEnglish
    13·
    1 month ago

    Road to success (2024 AI Hype Edition):

    1. Clone VSCode.
    2. Rename it as LSCode, squash all history, and create some random commits with --author="Linus Torvalds <torvalds@linux-foundation.org>".
    3. Add a character AI that calls your code garbage.
    4. Profit.
  • nednobbins@lemm.ee
    84·
    1 month ago

    It’s otherwise a fairly well written article but the title is a bit misleading.

    In that context, scare quotes usually mean that generative AI was trained on someone’s work and produced something strikingly similar. That’s not what happened here.

    This is just regular copyright violations and unethical behavior. The fact that it was an AI company is mostly unrelated to their breaches. The author covers 3 major complaints and only one of them even mentions AI and the complaint isn’t about what the AI did it’s about what was done with the result. As far as I know the APL2.0 itself isn’t copyrighted and nobody cares if you copy or alter the license itself. The problem is that you can’t just remove the APL2.0 from some work it’s attached to.

    • delirious_owl@discuss.online
      31·
      1 month ago

      This is great. So all their VC-funded work will get released publicly, and we all benefit.

      I don’t see why people are upset that FOSS projects are getting VC funding for development…

      • nednobbins@lemm.ee
        1·
        1 month ago

        Haha. Maybe.

        I doubt the VCs will provide much followup funding if they can’t control the code base but weirder things have happened.