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   Kevin Beaumont (gossithedog@cyberplace.social)'s status on Tuesday, 20-May-2025 22:31:09 JST Kevin Beaumont

   Another one bites the dust https://www.ft.com/content/9fdb4e2b-93ea-436d-92e5-fa76ee786caa

   • Embed this notice
     Kevin Beaumont (gossithedog@cyberplace.social)'s status on Tuesday, 20-May-2025 22:47:48 JST Kevin Beaumont

     in reply to

     The builder.ai story is wild. Microsoft put almost half a billion dollars into them (and lost it all). Everything crumbled when the Financial Times did a tiny amount of research on them, and realised their accounts were signed off a friend of the CEO. As soon as they hired a real auditor, they collapsed.

     https://sifted.eu/articles/builder-ai-auditor-founder-news

     Mr. Bill repeated this.
   • Embed this notice
     Andrew Golding (huronbikes@cyberplace.social)'s status on Tuesday, 20-May-2025 22:56:16 JST Andrew Golding

     in reply to

     @GossiTheDog may the light of a giant burning pile of money guide us to the promised future.

   • Embed this notice
     Kevin Beaumont (gossithedog@cyberplace.social)'s status on Saturday, 24-May-2025 14:05:07 JST Kevin Beaumont

     in reply to

     After hiring a real auditor, the auditor found builder.ai faked three quarters of its sales. https://www.ft.com/content/926f4969-fda7-4e78-b106-4888c8704bda

   • Embed this notice
     Kevin Beaumont (gossithedog@cyberplace.social)'s status on Saturday, 24-May-2025 14:09:37 JST Kevin Beaumont

     in reply to

     A journalist investigating this told me they’re looking at various other AI companies off the back of this - and all share similar close links to their auditors so far.

     So strap in, and prepare to be shocked dot GIF.

   • Embed this notice
     CatSalad🐈🥗 (D.Burch) :blobcatrainbow: (catsalad@infosec.exchange)'s status on Saturday, 24-May-2025 14:21:15 JST CatSalad🐈🥗 (D.Burch) :blobcatrainbow:

     in reply to

     @GossiTheDog Vibe accounting

   • Embed this notice
     Katrina Katrinka :donor: (katrinakatrinka@infosec.exchange)'s status on Saturday, 24-May-2025 14:29:25 JST Katrina Katrinka :donor:

     in reply to

     • shaun

     @shaun @GossiTheDog
     Arthur Anderson was part of the Big 6.

     We're down to the Big 4 for a reason.

   • Embed this notice
     shaun (shaun@mastodon.xyz)'s status on Saturday, 24-May-2025 14:29:26 JST shaun

     in reply to

     @GossiTheDog

     “The company said it had now engaged a Big 4 internal audit firm” — yeah, probably Arthur Andersen…