First of Many?

Here is an interesting equation:

Microsoft Backing + AI Startup + $½ Billion venture funding = Bankruptcy

Builder.ai, the British artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had seized most of its cash.

Viola Credit, which provided $50 million in debt to the software firm last year, has seized $37 million from Builder.ai’s accounts, leaving the company with $5 million, Builder.ai Chief Executive Officer Manpreet Ratia said in an interview Tuesday, without giving a clear reason for the seizure. Viola didn’t immediately respond to a request for comment left after business hours.

The company, which operates in five jurisdictions — the UK, the US, India, the United Arab Emirates and Singapore — will file for bankruptcy in due course, following each region’s process, Ratia said.

I am old enough to remember the Dot Com crash of the early aughts, where the VCs made money until they ran out useful idiots to sell their garbage to.  (I also remember LP records, rotary phones, manual typewriters, turning the knob to change the channel, payphones, the Sears catalogue, and Star Trek's original run.  F%$# I'm Old!)

While the internet did eventually produce useful things, in its early days, it was a morass of fraud and stupidity.

So is Large Language Model Artificial Intelligence.