Builder.ai collapse exposes dangers of ‘FOMO investing’ in AI

The collapse of Builder.ai exposes the growing threat of “FOMO investing,” according to an expert in tech growth intelligence. Builder had become one of Britain’s best-funded startups, but is now filing for bankruptcy due to financial problems. Big-name backers including Microsoft and Qatar’s sovereign wealth fund had poured a total of over $500mn into the startup, which aimed to simplify software development with AI. “This isn’t the first case of disastrous FOMO we’ve seen over the years, either — Zymergen, Frank, and Theranos are all famous examples. And as AI washing continues, this won’t be the last case.”The future of AI will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam.