$30,000,000 AI Is Hiding a Scam

Coffeezilla

21 May 202417:10

Summary

TLDRThe video script discusses the controversy surrounding Rabbit R1, an AI tech product developed by Rabbit Incorporated, previously known as Cyber Manufacturer Co. The founder, Jesse, is accused of distancing himself from a previous project, Gamma, which was heavily invested in but failed to deliver on its promises. Gamma was an NFT project that raised millions but allegedly did not fulfill its ambitious plans, including a carbon-negative cryptocurrency and a clean energy grid. The Rabbit R1, which was supposed to be a multi-functional AI assistant, is criticized for being overhyped and non-functional. The video also highlights the company's history of broken promises and the potential for investor dissatisfaction. It suggests that those who invested in Gamma's NFTs should be refunded, and it questions the legitimacy of Rabbit's claims and the connection between the two projects.

Takeaways

📱 The Rabbit R1 is a tech product that was heavily hyped but has failed to deliver on most of its promises.
💸 The founder has raised tens of millions in venture capital but is now distancing himself from a previous scam.
👋 Jesse, the founder and CEO of Rabbit, introduces the R1 as a multifunctional AI assistant that can perform tasks like ordering food and planning trips.
🚫 Tech YouTube reviews have found the R1 to be largely non-functional, with features like ride-sharing failing to work properly.
🔍 The company behind R1, Rabbit Inc., has a suspicious history, having been previously registered as Cyber Manufacturer Co.
🛑 A significant name change occurred just two months before the official announcement of R1, which is linked to a different venture capital raise for an unrelated project.
🎮 The previous project, called Gamma, was about NFTs and gaming, not AI, and was heavily promoted with buzzwords like 'Gaming,' 'Community ownership,' and 'Web 3.0'.
🚫 Jesse denies any wrongdoing with Gamma, describing it as a 'fun little project,' despite evidence of substantial promises made to investors and the public.
🗣️ The founder's inconsistent statements and denials have drawn scrutiny from tech journalists and the community, with some claiming that Gamma was a scam.
💡 The Rabbit R1's overhyped promises echo the past with Gamma, raising concerns about the integrity of the company and its ability to deliver on its claims.

Q & A

What is the Rabbit R1 and what does it claim to do?
-The Rabbit R1 is a tech product developed by Rabbit Incorporated. It claims to be an AI assistant that can perform various tasks such as speaking or typing, calling a ride, ordering food, and executing more complex actions like planning a trip.
What is the controversy surrounding the Rabbit R1's launch?
-The controversy is that despite raising tens of millions in venture capital, the Rabbit R1 has been criticized for being non-functional or not delivering on its promises. Additionally, the founder is trying to distance himself from a scam associated with the product.
What was the original name of Rabbit Incorporated and what was its initial project?
-Rabbit Incorporated was originally registered as Cyber Manufacturer Co. Its initial project was focused on NFTs and was called Gamma, which was positioned at the intersection of gaming, community ownership, and web 3.
What is the connection between the Rabbit R1 and the Gamma project?
-The connection is that both projects are created by the same company, which changed its name from Cyber Manufacturer Co to Rabbit Incorporated shortly before the official announcement of the Rabbit R1. The company had previously raised venture capital for the Gamma project, which was unrelated to AI.
What were the promises made by Jesse, the founder of Rabbit, regarding the Gamma project?
-Jesse promised a series of developments for the Gamma project, including a metaverse, a groundbreaking idea about the Gamma verse, a clean energy versus gamma coin, and even a carbon-negative Bitcoin 2.0. He also mentioned that the project would involve AI in the future.
How did the tech community respond to the Rabbit R1's functionality?
-The tech community largely criticized the Rabbit R1 for being non-functional or not working as advertised. For example, it was unable to process an Uber ride request, which was one of the features it claimed to support.
What is the claim about the Rabbit R1's ability to plan a trip to London?
-The claim is that the user can describe their trip wishes in full to the Rabbit R1, and it would be able to plan the trip. However, this functionality has been questioned due to the overall criticism of the product's performance.
What was the ultimate goal Jesse mentioned for the Gamma project involving AI?
-The ultimate goal Jesse mentioned was to have each non-player character (NPC) in the project powered by AI algorithms, allowing users to interact with them using natural language and 'brain logic,' suggesting a level of immersion and interaction that was not clearly defined.
What are the allegations against Jesse and his team regarding the handling of the Gamma project?
-The allegations include overhyping the Gamma project, promising features that were not delivered, and potentially mishandling the funds raised from investors. There are also claims that Jesse is now trying to distance himself from the project and its failures.
What is the current stance of Rabbit Incorporated on the Gamma project and its promises?
-Rabbit Incorporated has attempted to distance itself from the Gamma project, denying that it ever promised certain features like the carbon-negative cryptocurrency. They claim that the project was open-sourced and that they delivered on their promises, which is in contradiction to the evidence and testimonies presented in the script.

Outlines

00:00

🤔 Introduction to Rabbit R1 and its Controversial Background

The video script introduces Rabbit R1, a tech product that has raised significant venture capital but has failed to deliver on its promises. The founder, Jesse, presents the R1 as a multifunctional AI assistant capable of performing various tasks like calling a ride, ordering food, and even planning complex actions. However, the script quickly points out that the product is late to ship and may be built on a scam. The founder is attempting to distance himself from a previous venture that is now under scrutiny. The video promises to delve into the company's history and the legitimacy of its claims.

05:01

🕵️‍♂️ Investigating the Rabbit R1's Precursor: The Gamma Project

This paragraph delves into the history of Rabbit Incorporated, which was previously known as Cyber Manufacturer Co. The company had raised venture capital for a different project called Gamma, which was focused on NFTs and gaming at the intersection of community ownership and web 3.0. The speaker expresses skepticism about the company's pivot from NFTs to AI and the founder's denial of any significant involvement with the crypto aspect of the Gamma project. The paragraph suggests that there is more to the story than what is being presented by the founder and sets the stage for further investigation into the legitimacy of the company's claims and past projects.

10:01

💸 Unraveling the Overhyped Promises of the Gamma Project

The script examines the grandiose promises made by Jesse regarding the Gamma project, which included not only NFTs but also a metaverse, a clean energy initiative, and a carbon-negative cryptocurrency. It is revealed that Jesse had promised a significant expansion of the project beyond NFTs, with plans for a comic book, TV show, MMO RPG, and even a brain logic control system for the metaverse. The speaker highlights the inconsistencies between the promises made and the actual deliverables, pointing out that many of the promised features, such as the clean energy grid and the carbon-negative coin, were never realized. The paragraph raises questions about the use of the funds raised from investors and the integrity of the company's leadership.

15:01

🚫 Denial and Deflection: The Rabbit Team's Response to Allegations

In this paragraph, the script discusses the responses from the Rabbit team regarding the allegations of unfulfilled promises and the connection between the Gamma project and Rabbit R1. The team denies that the carbon-negative coin was ever promised and claims that the metaverse was delivered as an Unreal Engine project file. They also deny any connection between the two projects, despite the same company being responsible for both. The speaker expresses frustration with the team's denials and attempts to rewrite history, suggesting that the company is engaging in gaslighting. The paragraph concludes with a call for accountability and transparency from the Rabbit team, particularly regarding refunds for Gamma NFT holders.

Mindmap

Keywords

💡Venture Capital

Venture capital refers to funds invested in startups and small companies with long-term growth potential. In the context of the video, the tech product 'Rabbit R1' has raised tens of millions in venture capital, indicating significant financial backing from investors who believe in the company's potential to grow and innovate in the tech industry.

💡SCAM

A scam is a fraudulent scheme designed to deceive people into giving away money or personal information. The video discusses the founder distancing himself from a scam that the company 'Rabbit' is built upon, suggesting that the promises made to investors and customers were not fulfilled, which is a central theme of the video's critique.

💡AI Assistant

An AI assistant is a software program designed to perform tasks or services that would typically require human intelligence, such as understanding natural language or learning from interactions. The video mentions Rabbit R1 as an AI assistant that can perform various tasks, but it is criticized for being non-functional or underperforming, which is a key point of the video's argument.

💡Non-functional

Non-functional refers to something that does not work or operate as intended. The video script describes the initial version of the Rabbit R1 as 'borderline nonfunctional,' highlighting the product's failure to meet the expectations set by its marketing and the disappointment of the tech community.

💡Crypto

Crypto, short for cryptocurrency, is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. The video discusses the company's past involvement with crypto through an NFT project called 'Gamma,' which is a significant part of the company's history and the basis for the video's allegations of deception.

💡NFTs (Non-Fungible Tokens)

NFTs are unique digital assets that represent ownership of a specific item or piece of content on the blockchain. The video mentions that the company 'Rabbit' initially raised capital for a project involving NFTs, which is a key part of the company's history and the scam narrative being discussed.

💡Overhyped

To overhype means to promote or praise something excessively, often beyond its actual value or capabilities. The video argues that both the Rabbit R1 and the Gamma NFT project were overhyped, with the company making grand promises that were not realized, which is central to the video's criticism.

💡Vaporware

Vaporware refers to products that are announced to the public but are not yet available, often with the intention of creating hype or securing funding without a working product. The video uses the term to describe the Rabbit R1 and the promises made by the company, suggesting that the product and its features are more imagined than real.

💡Gaming

Gaming refers to the activity of playing video games or participating in any form of interactive entertainment. The video mentions that the Gamma project was positioned at the intersection of gaming, community ownership, and web 3, indicating that it was intended to be a part of the gaming industry with a focus on community engagement and blockchain technology.

💡Clean Energy

Clean energy refers to energy sources that do not emit harmful pollutants and are considered environmentally friendly, such as solar, wind, and hydroelectric power. The video discusses a promise made by the company to create a clean energy grid as part of the Gamma project, which was never fulfilled, contributing to the narrative of deception.

💡Discord

Discord is a popular communication platform designed for creating communities, often used by gamers and tech enthusiasts. The video mentions Discord in the context of the Gamma project, where Jesse, the founder, communicated promises and updates to the community, which later became part of the allegations against him.

Highlights

The Rabbit R1 is a tech product that has raised tens of millions in venture capital but has delivered on almost none of its promises.

The founder is now trying to distance himself from a scam that the product is built on.

Rabbit R1 promises functionalities like speaking, typing, calling a ride, ordering food, and executing complex actions.

The product was supposed to have shipped by Easter 2024, but it is already past that date with no update on its status.

Tech YouTube reviews indicate that the AI assistant is borderline nonfunctional.

Rabbit Incorporated has a strange history, originally registered under the name Cyber Manufacturer Co.

The company changed its name 2 months before their official announcement.

Cyber Manufacturer Co raised venture capital for a completely different project focused on NFTs, not AI.

The NFT project called Gamma was promised to be at the intersection of Gaming, Community ownership, and Web 3.

Rabbit's founder Jesse claims they will never touch crypto, despite their past being built on crypto NFTs.

Jesse downplays his involvement with Gamma, describing it as a 'fun little project'.

Investigations by Emily Shepard and Ed Zitron reveal a different story about the Gamma project.

Jesse had promised a carbon-negative Bitcoin 2.0 and other groundbreaking ideas that never materialized.

The millions raised from customers for the NFT project seem to have disappeared without delivering on promises.

Rabbit team denies any connection between Gamma and Rabbit, despite being the same company.

The Rabbit team claims they delivered everything they promised, which contradicts the evidence and Jesse's own statements.

Gamma investors should be refunded, as suggested by Jesse himself in the past, but the team is refusing to do so.

The Rabbit team is accused of gaslighting by denying promises they made in videos and statements.

The Rabbit R1 project is also overhyped, with a history of abandoning investors, similar to the Gamma NFT project.