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