Last month, Scott Stevenson, co-founder and CEO of the legal AI startup Spellbook, took to X in an effort to expose what he called a “ huge scam ” among AI startups: inflation of the revenue figures that they announce publicly. “The reason many AI startups are crushing revenue records is because they are using a dishonest metric. The biggest funds in the world are supporting this and misleading journalists for PR coverage,” he wrote in his tweet. Stevenson isn’t the first to claim that annual r…
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