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Ask HN: Have any of you left a startup that was selling snake oil?

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41–46 of 46 posts

Re: Ask HN: Have any of you left a startup that was selling snake oil?

#41
post #36

Your CEO's job is to build vision and hype. He's supposed to look toward the future - the eventuality of what you guys are working towards. This is so facepalm/cringe and typical of engineers who think they know better and everyone is an idiot lol.

Theranos agrees!

Re: Ask HN: Have any of you left a startup that was selling snake oil?

#42

I was hired on to a company in midtown looking to build out an HPC environment for analytics. I live pretty low in the stack, so my time was spent head down building a system with filesystem and network performance to the lead dev's spec. The CEO had experienced a major exit in dotcom v1, and was funding the new venture himself. Lead dev was one of CEO's generals from the bubble win. Money was basically unlimited. Th…

Still sounds like it was a fun lark for a while.

Re: Ask HN: Have any of you left a startup that was selling snake oil?

#43
post #17

You seem to have a capable CEO that is able to bring in the funding. Unless he is blatantly lying I'd say what you are experiencing is pretty standard. Throwing in some buzzwords is not selling snake oil. It used to be "big data", now it's "AI", next it'll be "blockchain".

> the CEO is going to investors pitching the fact that we've built/are building some deep learning engine that can be applied to all problems. > there is no 'engine'; we're a consulting company. This is pretty close to fraud. There's a huge difference in return to investors between skilled data scientists doing one-offs, and an engine that does the work on its own. If they're not even trying to build a generic AI eng…

More importantly, an AI engine is IP that could make the company an attractive acquisition target at a higher price.

Talented consultants not so much, because they may not stick around after the acquisition.

Re: Ask HN: Have any of you left a startup that was selling snake oil?

#44
"The company is really just a consulting firm that deploys custom solutions for clients: this is totally fine by me, because it's really interesting and fun. But, the CEO is going to investors pitching the fact that we've built/are building some deep learning engine that can be applied to all problems."

Sounds like IBM Watson.

Re: Ask HN: Have any of you left a startup that was selling snake oil?

#46
post #16

Earlier quoted context omitted.

isn't deep learning engine a set of scripts to solve some problems anyway? Are they trying to build PyTorch and TensorFlow? If they are proving solutions for customers, it does exist. Sometimes developer don't see the value of things because they are dealing with it everyday. For us it is scripts, for other people, it could be magic.

Quoting OP: > the CEO is going to investors pitching the fact that we've built/are building some deep learning engine that can be applied to all problems. > If they are proving solutions for customers, it does exist. From the perspective of a client with a particular project, provided the client's needs are met at a reasonable price, they are happy. It does not matter if their needs are met by application of some sta…

Actually, I agree.

Pitching this to investors is fraud if you don't have it or are not planning to build it.

I misread, and was more thinking of it from perspective of a customer buying a solution, and getting an AI solution in the end.

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