Intro

This chapter explores the shocking shutdown of the social messaging startup IRL, which was exposed for having 95% of its claimed user base as fake. The discussion highlights the implications of misleading metrics and the broader effects on the startup ecosystem and investor responses to such fraud revelations.

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Episode notes

This Week in Startups is presented by:

Notion just launched Notion Projects, which includes new, powerful ways to manage projects and leverage the power of their built-in AI features too. Try it for free today at notion.com/twist.

LinkedIn Jobs. A business is only as strong as its people, and every hire matters. Go to LinkedIn.com/TWIST to post your first job for free. Terms and conditions apply

Fin can’t burn its mouth on hot pizza. Or wave at someone who wasn’t waving at them. Fin can resolve half of your customer support tickets instantly before they reach your team. Meet Fin. A breakthrough AI bot by Intercom – ready to join your support team today. Visit https://intercom.com/fin

Today’s show:

Jason is joined by Vinny Lingham to break down IRL shutting down after faking 95% of users (1:12), ZIRP fraud (12:59), Databricks acquiring MosaicML for $1.3B, and some AI demos! (1:02:31)

Check out Waitroom: https://waitroom.com/

Follow Vinny: https://twitter.com/vinnylingham

Time stamps:

(0:00) Vinny joins Jason

(1:12) IRL's 19M fake users

(5:45) Twitter bots and the fake account problem

(11:50) Notion - Try it for free today at https://notion.com/twist

(12:59) Diligence in early-stage startups

(20:59) Databricks acquires MosaicML for $1.3B

(27:02) LinkedIn Jobs - Post your first job for free at ⁠https://linkedin.com/twist

(33:09) Testing Google’s new generative search

(37:47) Fin - Try Fin, Intercom's new AI customer support chatbot, at ⁠https://intercom.com/fin⁠