“印度电诈”就离谱！整整八年，AI全靠人、收入全靠刷，微软纳德拉被老乡“杀猪盘”了

Core Insights - Builder.ai, once valued at $1.5 billion and backed by major investors like Microsoft and SoftBank, collapsed in May 2025 due to a massive fraud scheme involving fake AI capabilities and financial misrepresentation [1][19] - The company's marketing claimed to simplify app development using AI, but it was revealed that much of the work was done manually by Indian engineers, undermining the legitimacy of its AI claims [7][11] Company Overview - Founded in 2016 by Sachin Dev Duggal, Builder.ai aimed to revolutionize app development by making it as easy as ordering pizza [2][4] - The company quickly gained traction in the investment community, becoming a prominent player in the no-code and AI space [6][7] Financial Misconduct - In 2024, Builder.ai projected revenues of $220 million, but internal audits revealed actual revenues of only $55 million, leading to a 300% exaggeration of sales figures [13][14] - The company engaged in "round-tripping" with VerSe Innovation to artificially inflate sales data, resulting in significant financial discrepancies [13] Leadership and Operational Issues - Sachin Dev Duggal stepped down as CEO in early 2025, adopting the title "Chief Wizard" as the company faced impending collapse [15] - The new CEO, Manpreet Ratia, discovered that $37 million in company funds were frozen, leaving only $5 million available for operations [16] Market Impact and Lessons - The collapse of Builder.ai serves as a cautionary tale about the risks of "AI washing," where companies falsely claim AI capabilities to attract investment [20] - The incident highlights the dangers of FOMO (fear of missing out) among investors, leading to inadequate due diligence and oversight [20]