A $450 million AI startup just went bankrupt after lying about their revenue - and this might be just the beginning of the AI apocalypse.

In this episode of Bricks, Bucks & Bytes, Owen, Martin, Dustin, and Patrick dive deep into the shocking collapse of Builder AI and what it reveals about the entire AI industry. From fraudulent revenue claims to human workers disguised as AI, this cautionary tale exposes the dark side of Silicon Valley's latest obsession.

Key topics discussed:

• Builder AI's spectacular $450M bankruptcy and 25% revenue overstatement

• Why 90-95% of AI companies are headed for failure according to VCs

• OpenAI's questionable $6.5 billion acquisition of Johnny Ive's design firm

• How construction companies are getting fed up with AI promises

• The deadly mistakes founders make with venture debt

• Why hiring "missionaries" beats "mercenaries" every time

• The real cost of delayed hiring decisions on cash burn

• Why Ivy League credentials might actually hurt you in construction tech

• The truth about TAM calculations and industry sizing myths

"I talked to a VC yesterday, and we were guesstimating... 90% to 95% of AI companies are just going to go to zero." - Dustin DeVan

Tune in for unfiltered insights on AI hype, hiring secrets, and what really matters in construction tech.

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Chapters

00:00 Intro

01:13 Welcome Back and Conference Insights

04:12 AI in the AEC Industry: Challenges and Opportunities

07:11 Builder AI: A Case Study in Failure

10:15 The Impact of AI on Communication and Critical Thinking

13:21 Navigating Debt and Financial Stability in Startups

16:21 The Future of Software in Construction

19:08 The Role of Communication in a Tech-Driven World

33:39 Navigating Venture Debt and Equity Financing

39:18 Understanding Annual Recurring Revenue (ARR) and Its Implications

47:16 The AI Hype: Reality vs. Expectations

53:18 Evaluating the Impact of Emerging Technologies

01:05:30 The Role of Data in AI Development

01:12:23 The Future of AI and Its Limitations

01:18:19 Hiring Strategies in the AEC Tech World

01:21:59 Understanding Talent Acquisition and Onboarding

01:31:33 The Impact of Backgrounds on Hiring Success

01:38:54 Assessing the True TAM of the Construction Industry

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Sponsors:

BuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.io

4M Analytics - Instant, reliable utility data you can trust and verify - https://www.4manalytics.com/