$30,000,000 AI Is Hiding a Scam

Summary notes created by Deciphr AI



The tech product Rabbit R1, touted by its founder Jesse as a versatile AI assistant capable of tasks like ordering rides and food, has largely failed to deliver on its promises, with tech critiques revealing its non-functionality. Further investigation reveals Rabbit's murky origins as Cyber Manufacturer Co., which had previously raised venture capital for a different venture involving NFTs called Gamma. Despite Jesse's attempts to distance Rabbit from its crypto roots and downplay Gamma as a "fun little project," evidence suggests Gamma was ambitiously marketed as a multifaceted enterprise with promises of NFTs, a clean energy grid, and a carbon-negative cryptocurrency—none of which materialized. This pattern of overhyping and underdelivering raises concerns about Rabbit's credibility and accountability, especially as no refunds have been offered to Gamma's investors, despite Jesse's previous assurances.

Summary Notes

Introduction to Rabbit R1 and Founder's Presentation

  • Rabbit R1 is a tech product that has received significant venture capital funding.
  • The founder, Jesse, claims that R1 can perform various tasks such as speaking, typing, calling a ride, and ordering food.
  • R1 is also said to be capable of executing complex actions, like planning a trip.
  • The product was scheduled to ship Easter 2024.

"Hi everyone, my name is Jesse and I'm the founder and CEO of Rabbit. This 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 can order the R1 now at rabbit.. and we are shipping Easter 2024."

  • This quote introduces the Rabbit R1 and its capabilities as described by the founder, Jesse, who emphasizes its multifunctionality and advanced features.

Tech Community's Response to Rabbit R1

  • The tech community has criticized Rabbit R1 for being non-functional or incorrect in its operations.
  • Tech YouTube reviews indicate that the AI assistant does not perform as promised, with failed attempts at booking rides and other tasks.

"The thing that you get at the beginning is like borderline nonfunctional. Look in Uber to LT Labs, the ride share status is currently unavailable. Get me a ride. Apologies, the Uber ride request couldn't be processed. What is this you are holding a taco."

  • The quote reflects the actual performance of Rabbit R1 as experienced by tech reviewers, highlighting its inability to fulfill even simple tasks, contrary to the founder's promises.

Rabbit Incorporated's Shady Past and Name Change

  • Rabbit Incorporated was previously known as Cyber Manufacturer Co.
  • The company changed its name shortly before announcing the R1.
  • Cyber Manufacturer Co. was involved in a different venture related to NFTs, which was a serious industry in 2021.
  • The company's past involvement with NFTs contrasts with its current stance against crypto.

"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 was originally registered under a different name, Cyber Manufacturer Co. In fact, they changed their name 2 months before their official announcement."

  • This quote reveals the company's previous identity and hints at a potentially significant reason behind the name change, suggesting a desire to distance itself from past activities.

Founder's Disassociation from Previous Crypto Projects

  • Jesse, the founder, has a history with a project called Gamma, which was involved in the NFT space.
  • Despite Rabbit's current anti-crypto stance, Jesse's previous project was deeply involved in NFTs.
  • Jesse downplays his involvement with Gamma, referring to it as a "fun little project."

"Yes, Gamma 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."

  • Jesse attempts to minimize his past involvement with the NFT project Gamma, framing it as a casual endeavor despite its multimillion-dollar scale.

Conclusion and Founder's Denial of Crypto Involvement

  • Jesse's statements attempt to close the case on any allegations related to his involvement with crypto.
  • He emphasizes that his main work was on a space station themed game, not on Gamma's NFTs.

"Gamma was a fun little project I was involved with during early Co time. My main work is to build an Unreal Engine 5 space station themed game that I later open-sourced."

  • Jesse's quote is intended to clarify his priorities and shift focus away from the NFT project, portraying it as a side project compared to his main work on a game development project.

Unreal Engine and NFTs

  • Jesse Lou's involvement with Unreal Engine and NFTs suggests a connection to technology and digital assets.
  • Despite selling and buying NFTs, there are claims that the project is not a scam.
  • Ed Zitron's article presents a different story about the Gamma project, challenging Jesse's narrative.

"He may have sold a few NFTs, but he bought a few NFTs, so you know it's not a scam."

  • This quote implies that Jesse Lou's engagement with buying and selling NFTs is used to argue against the idea of a scam.

Gamma Project Controversy

  • In 2021, the Gamma project raised $6 million.
  • Jesse Lou made significant promises on Clubhouse about the project's potential.
  • There is a discrepancy between Jesse's description of Gamma as a "fun little covid project" and the grand promises made.

"I don't want to make GMA as a hype and dump program; this is a legit team with millions of dollars of funding behind it."

  • Jesse Lou attempts to distance the Gamma project from being seen as a quick profit scheme, emphasizing legitimacy and substantial funding.

Promises vs. Reality

  • Jesse Lou promised a comprehensive and evolving project with NFTs being only a fraction of it.
  • He envisioned the Gamma project including a Gamma verse and clean energy initiatives.
  • Jesse claimed that Gamma coin could become the first carbon negative Bitcoin 2.0.

"After NFT we have this huge groundbreaking ideas about Gamma verse, then after that we have this huge groundbreaking ideas about the clean energy versus gamma coin."

  • This quote outlines the ambitious plans for the Gamma project beyond NFTs, including a virtual world (Gamma verse) and clean energy solutions linked to a new cryptocurrency (Gamma coin).

Financial and Project Outcomes

  • There is skepticism regarding the execution of the promised Gamma project features.
  • Questions arise about the whereabouts of the millions raised from customers when the company transitioned to Rabbit.
  • The lack of fulfillment of the Gamma project's promises is highlighted.

"Where are those Millions, you know, the money raised from customers when the company changed to Rabbit, where did it go?"

  • This quote raises concerns about financial transparency and accountability following the shift from Gamma to Rabbit.

Company History and Investor Relations

  • The company's history includes overhyping projects and potentially abandoning investors, as seen with Gamma NFTs.
  • Jesse Lou encouraged supporters to overlook the details of the NFT mechanism, promising the continuation of the Gamma verse and related projects.

"I would suggest for our true supporters, do not pay too much detail about the current NFT mechanisms because that doesn't matter."

  • Jesse Lou reassures investors not to focus on the NFT specifics, implying that the broader Gamma project goals are more important.

Misrepresentation and Lies

  • Jesse Lou's past assurances about the Gamma project's future despite the NFT project's potential failure are now viewed as false.
  • The promises of a comprehensive Gamma project with a Gamma verse, clean energy, and Gamma coin did not materialize.

"I can safely say that even if the entire NFT project completely failed, which I don't think that's the case, we're going to still push the GMA verse."

  • This quote reflects Jesse Lou's commitment to the Gamma project's broader goals, despite the NFT project's success, which in hindsight, is seen as misleading.

Clean Energy Gamma Coin Project

  • The Gamma Coin project, presented by Jesse, was intended to be a new cryptocurrency, described as Bitcoin 2.0.
  • The coin was supposed to be generated 100% by clean energy.
  • Jesse claimed that owning over 1,800 M of clean energy generation would allow individuals to contribute excess electricity back to the city grid.
  • Ownership of a GMA NFT was equated to owning a proportional valuation of the clean energy grid and the power generated by it.
  • The power owned by the NFT holder would be used to generate Gamma Coins, creating a cycle of clean energy and cryptocurrency.

"GMA coin which is basically Bitcoin 2.0 that is 100% generated by Clean Energy and we did the math we did the calculations to where if you own over 1,800 M of clean energy generation that means you will have extra generated electricity that you can donate back to City grade."

The quote explains the concept behind the Gamma Coin and its unique selling point of being tied to clean energy generation and ownership.

Vision and Expansion of the Project

  • The project's vision included the creation of a clean energy grid that NFT owners would co-own.
  • It was proposed that owning the NFTs would not only give a stake in the clean energy grid but also in the generation of the clean tokens.
  • The project was described as ambitious, with plans to extend beyond cryptocurrency and clean energy into other ventures.

"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 the thing."

The quote reflects the skepticism around the feasibility of the project's vision of tying NFT ownership with the creation of a clean energy grid and the generation of a new cryptocurrency.

Additional Ventures and Promises

  • The Gamma Coin project was said to include a storefront on Fairfax Avenue in Los Angeles, a comic book, a TV show, and an MMORPG.
  • Jesse Lou claimed that in the future, control of the project would be through "brain logic."
  • The ultimate goal was to have each NPC in the MMORPG powered by AI algorithms, with interaction via natural language and brain logic.
  • Jesse promised that these advancements were not a 10-year plan but could be achieved in the next couple of years.

"The ultimate goal is that each NPC will be powered by AI algorithms and then you will interact directly with them using your natural language and your brain logic."

This quote outlines the ambitious goal of integrating AI and advanced user interfaces into the project's gaming aspect.

Criticism and Skepticism

  • There was a significant amount of disbelief and criticism towards the feasibility and reality of the project's goals.
  • The project was described as a "buzzword salad," with seemingly random additions of popular technology terms.
  • The podcast host jokingly suggested the project was becoming akin to the Matrix, with implications that actions in the metaverse could have real-life consequences.

"I mean why not just make it the Matrix while you're at it. I mean it surely is a matrix to my extent and to the original concept of the Matrix that you know you will be reborn with your alter identity in this metaverse and whatever you do in the real world matches the exact consequences in the digital world."

The quote captures the host's incredulity and the hyperbolic comparison of the project's promises to the science fiction concept of the Matrix.

Real-Life Implications and Consumer Impact

  • The host questioned the real-life implications of the project's promises, especially concerning the reality of risks and consequences in the metaverse.
  • There was a concern for the consumers who invested real money into the project, highlighting the potential for financial loss.

"Okay did this man just do the if you die in the game you die in real life unironically while selling NFTs the answer is yes."

The quote expresses the host's astonishment at the extreme claims made by Jesse regarding the consequences of actions within the metaverse, likening it to the stakes of a game with real-life death consequences.

"And my only follow-up question is if you get scammed in the metaverse do you get scammed in real life in this world too."

This quote shows the host's concern about the potential for scams within the metaverse and the implications for real-world financial security for investors.

Theme: Misleading Promises and Lack of Delivery by Gamma NFT Project

  • Gamma NFT project and Rabbit R1 are both considered overhyped with Rabbit R1 failing to deliver on promises.
  • The speaker advocates for refunds to Gamma NFT holders, echoing a suggestion by someone named Jesse in Clubhouse calls.
  • Jesse is willing to purchase NFTs from those who are disillusioned with the project.
  • The speaker attempted to follow up with Jesse regarding refunds but received no response.
  • The Rabbit team responded, stating that the project was not abandoned but open-sourced, contradicting earlier promises.
  • Discrepancies exist between what was promised by the Gamma team and what was delivered, particularly regarding the stages of the project.
  • The metaverse claimed to be created is not a true metaverse but an Unreal Engine project file with significant bugs.
  • Rabbit team denied ever promising a carbon-negative coin, despite evidence to the contrary.

"The minimum is that the Gamma NFT holders should be refunded the money they spent."

This quote underscores the speaker's opinion that refunds are the least that the Gamma NFT project owes its investors due to unmet promises.

"I will buy your NFTs. Okay. I will buy your gammas and get out."

Jesse offers to purchase the NFTs from dissatisfied holders, indicating a willingness to take responsibility at least on a personal level.

"The project was never abandoned it was actually op sourced."

The Rabbit team's response to the speaker's inquiry about refunds, suggesting that the project's direction changed rather than being abandoned.

"The three stages they gave me aren't the three stages they promised."

The speaker points out a discrepancy between what was initially promised by the Gamma project and what was actually delivered.

"The metaverse by the way they said they created to is not a metaverse it's an Unreal Engine project file that I downloaded to play."

The metaverse promised by the Gamma project is criticized for being nothing more than a basic Unreal Engine project, not a fully realized metaverse.

"The rabbit team denied gamma ever promised the carbon negative coin which they repeatedly promised."

Despite clear promises of a carbon-negative coin, the Rabbit team denies such a promise, which the speaker views as dishonest.

Theme: Contradictory Statements and Gaslighting by Rabbit Team

  • The Rabbit team's denial of the carbon-negative coin promise is seen as gaslighting by the speaker.
  • Evidence of the promise includes a video with a clear roadmap and mentions of a carbon-negative cryptocurrency.
  • The Rabbit team also claimed to have initiated clean energy initiatives like reducing gas fees, which does not align with their original promise of a clean energy grid.
  • Jesse made promises on Discord about Open Sea transactions funding land purchases for a clean energy grid, which contradicts the Rabbit team's later statements.
  • The Rabbit team attempted to disassociate from the Gamma project despite clear connections and shared company origins.

"I think it's amazing to have them say now we never promised that only to find a road map video with you promising in big letters carbon negative cryptocurrency."

The speaker expresses disbelief at the Rabbit team's denial of the carbon-negative coin promise, given the clear evidence to the contrary.

"These people are contradicting themselves in multiple languages."

The speaker points out the Rabbit team's inconsistencies across different platforms and languages regarding their promises.

"Gamma in our opinion and as stated in the fact sheet has no connection with Rabbit."

The Rabbit team's claim of no connection between Gamma and Rabbit is challenged by the speaker, given that the same company is behind both projects.

Theme: Lack of Accountability and Transparency

  • The speaker feels sympathy for Gamma investors due to the lack of accountability from the project's team.
  • There is suspicion about what else the team might be hiding, given their contradictory statements and failure to provide refunds.
  • The speaker's investigation suggests a pattern of misleading information and a lack of transparency from the Rabbit and Gamma teams.

"After realizing no accountability would be taken and no refunds would be given by this project I began to feel bad for gamma investors."

The speaker expresses empathy for investors who are unlikely to see accountability or refunds from the project.

"It made me wonder what else is this team hiding."

The quote reflects the speaker's growing suspicion about the integrity and transparency of the Rabbit and Gamma project teams.

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