$30,000,000 AI Is Hiding a Scam - バイリンガル字幕
The Rabbit R1 is a tech product that has raised tens of millions in venture capital,
promised the world and delivered on almost none of it.
Worse though, it's built on a scam that the founder is now trying to distance himself from, but hey.
Where are my manners?
I'm trying to be more positive in 2024, so let's let this company introduce themselves at least before we say anything negative about them.
is the Rabbit R1.
I can speak or type with R1.
I can also use R1 to call a ride.
I can also use R1 to order food.
I can also make R1 to a set of more complex actions.
For example, if I want to plan a trip to London, I can just describe what I wish in full to R1.
You Well there you go.
That's not so bad.
You got yourself a standard tech guy and a black shirt promising the world apple keynote background what could go wrong.
Oh, and I guess it's past Easter 2024, so the product should have shipped.
So before we talk about the scam angle, let's briefly check in with Tech YouTube for how this AI assistant is...assistenting?
The thing that you get at the beginning is like borderline non-functional.
Book an Uber to LTT Labs.
The ride share status is currently unavailable.
Get me a ride.
Apologies.
The Uber ride request couldn't be provided.
you're holding a taco oh that's not good I could give them a few lessons on positivity turns out Basically,
everyone in the tech sector tagged team this product for being non functional or plain wrong about things that rabbit said the R1 could handle things just weren't working.
What if I told you that wasn't the biggest scam that this company is built on something much worse?
And now that I've been so cheery and positive, let's go down the rabbit hole and see what's under the hood.
Yes, it's a bunch of rabbit jokes.
So the first thing we need to do is go to their web page.
The R1 is created by something called Rabbit Incorporated.
But this company has a strange history.
It originally registered under a different name, CybermanufactureCo.
In fact, they changed their name two months before their official announcement.
And it turns out that name change is pretty significant because CybermanufactureCo Shell company,
or the same company under a different name, they had separately raised venture capital for a completely different project.
die, it was for NFTs.
Now, before you laugh, remember, this is 2021, when people took NFTs very seriously.
According to a press release, the project was called gamma, and it was at the intersection of gaming, community ownership, and web three buzzwords.
What does that have to do?
Well, not really much.
Conversely, Rabbit today also sort of wants nothing to do with crypto.
Their Jesse, announces for Rabbit, let me be clear, quote, we will never touch crypto.
Never.
Okay, well that's pretty strong, but given their whole past is built on crypto NFTs, it's a little strange.
Now, when Gama is brought up, Jesse doesn't really deny that he ran the project, he
sort of makes it sound like it was no big deal, just kind of a thing of the past.
Quote, Gama was a fun little project I was involved with during early COVID time, my main
work is to build a Unreal Engine 5 space station themed game that I later opened sourced.
Yes, Gama released NFTs and I bought a bunch myself just for fun.
Never trade, never released any token or crypto coins, and I left that project once the game was open-sourced.
Well, there you go.
painters.
It was a fun little multi-million dollar project he did.
He just built it on Unreal Engine.
He have sold a NFTs, but he bought a few NFTs, so, you know, it's not a scam.
Please don't look into this.
Please do not look into this.
This is not a scam.
Oh.
some people may have looked into it.
First, Emily Shepard and then the writer and podcaster Ed Zittron jumped in the fray with a great article.
And I spoke to Ed and he told me a very different story than Jesse about this gamma project.
It's so weird and it's the same company.
And in 2021, they raised this 6 million.
And then Jesse Lou across several hours of Clubhouse, I subjected myself to, promised the world and more.
I the world and more is slightly inconsistent with fun little COVID project.
So I decided I needed to listen to these recordings of Jesse talking about Gamma myself back in
the day and find out who was really telling the truth.
Jesse?
Or I don't want to make it.
make gama, for none of us want to make gama, as a hype and dumb program.
This is a legit team with millions of dollars of funding behind.
Basically, we're dumping millions of money into it just to make sure that it will be a next level experience.
Okay.
I have to admit.
Definitely.
Sounds like Ed is right.
This sold as whatever the opposite of a quick NFT hype and dump project is, and this is where things get much weirder.
So NFT is only just the beginning, the very beginning of this.
We probably think that the NFT part will only take,
you know, no more than 20% of the entire weight of this entire BAGAMA project.
So after NFT, we have this huge groundbreaking ideas about GAMAverse.
And that, we have this, again, huge groundbreaking ideas about the clean energy versus GAMA coin.
And that,
you know,
the chances that got not only carbon neutral,
but actually carbon negative crypto 2.0, Bitcoin 2.0, I think that's complete the entire gamma story.
Hopefully, now you're starting to see why I think it's strange for Jesse to claim that gamma was a fun little project.
Where he never released these tokens or crypto coins when that's sort of what he promised
He told people who's gonna release a carbon negative Bitcoin 2.0 and look I know it sounds stupid now,
but again 2021 was a different time and remember Jesse had millions in backing.
It's hard to see how people took him seriously He said it didn't matter how the NFTs did.
He was going to execute.
But where are those millions, you know, the money raised from customers?
When the company changed to Rabbit, where did it go?
Did it go to develop Rabbit, a completely different project?
I don't know.
I'd love to sit down with Jesse and find out.
What I do know, though, is that so many of the promises of Gamma didn't.
happen, and this is relevant to the R1, not just because this project is built on the skeleton of that scam project.
It's also because the R1 was overhyped in a similar way as a do-it-all device, but this same company isn't some history.
company.
They have a history of abandoning investors like they did with gamma NFTs.
I mean, Jesse even told people who were worried about the NFTs.
Don't pay attention to that.
You know, it's all going to work out.
You just got to be a true supporter.
do not pay too much detail about the current NFT mechanisms, because that doesn't matter, you know?
Like, I can safely say that even if the entire NFT project completely failed, which I don't think
that's the case,
we're gonna still push the gamma-verse and we'll still push the clean energy happened using our phones I cannot emphasize enough that was a lie that never happened the
clean energy gamma coin never got published or built or launched even though Jesse said they
were gonna do it they had the money by the way we all know it's vaporware but I think it's important
really hear him sell it because this is the same guy who wants you to take him seriously
when he sells you the future of AI.
Take a listen to the whole vision really laid out.
And we did the math,
we did the calculations to where if you own over 1,800 milliwatts of clean energy generation,
that means you will have extra generated electricity that you can donate back to celebrate.
So the general concept is Let's say if you own a gamma NFT,
that means you own the equal portion in valuation of your NFTs at that moment of that clean energy grid that we started building in the real world.
That means you own that power, that portion of the clean energy grid.
energy solar panels that generates that power and that means you own that power and that
also means that you own that portion of that power and that power will be used to generate
gamma coins that means you can earn your gamma coins out of this entire uh, cringy cycle.
All right.
Let's try to suspend our disbelief for a second here and figure this out.
Basically, he's saying buying NFTs somehow would build a clean energy grid, which you would sort of co own, which would make clean tokens, sort of a thing.
And, and A little insane, but the funny thing is it's sort of the most sensible part of this project
because as I learned,
that wasn't even close to the end of It they were saying there was going to be a storefront on I think Fairfax Avenue across from Supreme in LA
They were going to do a comic book.
They claimed there's a disco look Yeah,
they said a comic book a TV show an MMORPG and I know yes And then Jesse Lou at one point said that the future of this thing you would control using your brain logic
It is insane.
Am I the only one who doesn't know what brain logic control?
Look, when I first heard this, I thought this cannot be right.
This is already crypto plus NFTs plus clean energy plus comic books.
Surely they aren't going to wrap in AI as well, right?
The ultimate goal is that each NPC will be powered by AI algorithms and then you will
be interacting directly with them using your natural language and your brain logic and
think that will be the ultimate goal and when I say ultimate goal, I don't think that's like a 10 years plan.
I in the next couple of years we might have a very good chance to achieve it.
Oh, oh he did, he promised it in two years.
Okay.
Why not toss in AI to the buzzword salad?
In fact, I guess it maybe relates it more to rabbit.
Maybe we do have the connection.
right?
The brain logic interface is the connection.
I mean, why not just make it the matrix while you're at it?
I mean,
it surely is a matrix to my,
to my extent,
and to the original concept of the matrix that, you know, you will be reborn reborn with your alter identity in this matter first.
And whatever you do in the real world matches the exact consequences in the digital world.
Okay, did this man just do the if you die in the game, you die in real life?
life, unironically, while selling enough teas?
The answer is yes.
And my only follow-up question is, if you get scammed in the metaverse, do you get scammed in real life in this world?
Look, I'm not here to stump for the big wig venture capitalists who lost their faces on this.
At the end of the day, these are both consumer facing businesses.
They got real people to invest real money into both the $200 RABIDAR 1 and into this gamma NFT project.
Both are over hyped.
One just already didn't deliver what they promised.
While the other is working on So, what can be done here?
Well, for one, the minimum is that the gamma NFT holders should be refunded the money they spent.
I mean, this isn't even my crazy wacky suggestion.
Jesse suggested it himself in those clubhouse calls.
And I better pay,
My money to collect your NFT back,
if you think this is just an NFT hype and dump project, I have to say that, so the communities will have my money.
words, anyone that is not envisioning the gamma to the stage two or three, just want
to make a couple of ease out of stage one, reach out to me, I will buy your keys.
Okay, I will buy your gammas and get a cow.
All right.
All right, we'll take you up on that.
So I reached out again to Jesse about these refunds, but he didn't respond again.
The rabbit team did though They told me Jesse would not refund investors.
The quote was out of context.
The project was never abandoned.
It was actually Open-sourced What does that mean?
Well claims the gamma team delivered everything they promised in three stages The one problem is the three stages they gave me aren't the three stages
They promised the metaverse by the way they said they created two is not a metaverse
It's an unreal engine project file that I downloaded to play.
It's based on a starter game called Lyra You can see the starter assets here and the things gamma did do made the game so buggy that it crashed every minute
But it gets worse the rabbit team denied gamma ever promised the carbon negative coin,
which they repeatedly promised The coin you referred to never materialized nor was it ever promised or delivered.
Obviously, I thought I had a stroke.
Here I was listening to Jesse promise it.
But he even put it in a video saying, explaining gamma with our roadmap.
Ultimately, our efforts will lead to the gamma total.
I don't know how they could have been more clear.
I it's amazing to have them say now.
Only to find a road map video with you promising in big letters carbon-negative crypto
currency It's just gaslighting at this point to pretend otherwise What is funny is that rabbit also mentions clean energy initiatives.
They they did like reducing gas fees But again, that's not what they promised.
They a clean energy grid Jesse also promised it on discord His post was in Chinese,
but he's clearly talking about open sea transactions being used to buy land To build the clean energy grid,
which is gonna help mine gamma coins,
which is exactly what he said on Clubhouse I mean these people are contradicting themselves in multiple languages
So I'll let you decide at the end of the day if the rabbit team is being honest here towards the end.
They try to tell me that gamma in our opinion and as stated in the fact sheet has no connection with rabbit.
But the fact sheet they're talking about they sent me in a document called gamma project fact sheet.
You can't just declare your own facts when it's the same company who made both things, the rabbit and the gamma project.
How can you say there's no connection?
But after realizing no accountability would be taken and no refunds would be given by this project, I began to feel bad for gamma investors.
It me wonder, what else is this team hiding?
Well?
I decided to find out.
Thanks for watching!
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