industry MoviePass CEO Admits Fraud

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Can you believe it? That someone would use 'artificial intelligence' as a buzzword to mislead investors?

Schitts Creek Comedy GIF by CBC


[Farnsworth] concealed that MoviePass’ subscription model was a money-losing gimmick and falsely claimed that they used artificial intelligence to monetize MoviePass’ subscriber data, among other misrepresentations.


[his] tactics included directing MoviePass employees to “throttle” subscribers who most frequently used the service to buy movie tickets, thereby inhibiting their ability to use the MoviePass service.

We all knew this was happening 😆 "unlimited" movies was a lie.
It's wild someone would commit such blatant fraud.

He faces a maximum penalty of 20 years in prison on the securities fraud count and five years in prison on the conspiracy to commit securities fraud count. A sentencing hearing will be scheduled at a later date.
 
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A bit off the point, But it's infuriating to see massive investment and funding constantly thrown at the dumbest person they can find. A hobbyist could build an ai that ran a movie pass in 72 hours flat for less than $300. Why does this guy even need to lie about it? Is it so much to ask to expect someone making millions of dollars a year to do the amount of work and study I do over a weekend for no pay?

Why do consumers keep falling for stuff like this? If I told you you could buy a milk ticket for $200 and just pick up a gallon of milk from any grocery store in the country as often as you wanted for a year, you would know that was a lie right?

I've never even considered throttling the labyrinth when I build it. Of course it's very easy to do, But that's cheating. Any business just wins automatically if they dynamically adjust the odds so that the house always wins. (I'm looking at you United Healthcare)

This is why free market economics doesn't work in practice, Because the less ethics you have the more money you make. A person like Bernie Madoff that can just lie with a straight face all day can become wealthy fast and then engineer odds in their favor. Most honest small business owners struggle for years just to get into the black. I hope this guy goes to jail.

Once many years ago there was this very popular video game named Bloodborne. 10s of millions played it and for many it was their favorite game. As the years passed sony Megacorp received tens of thousands of letters per year for over a decade asking for one very small change to be made in the code so that it could run 60 frames per second instead of 30. From their grand skyscrapers, Limousines filled with year end bonus checks, and towering office buildings around the world, They flew Lear jets to meetings to discuss what to tell the public about this constant surge of requests about this tiny code error. First they tried silence, Just acting aloof as though there were too important to answer a question they were being asked 10 or 20,000 times a year. Then in an attempt to quiet the constant onslaught of requests, They hired an executive to appoint a manager to hire a spokesperson to open a Twitter account where after four or five years they wrote a paragraph explaining that it was all just too difficult and not really a priority. Fed up, A single young unpaid hacker cracked their system and fixed the error in one single night. Sony filed a legal injunction against him and threatened him with life destroying repercussions if he continue to distribute the small piece of code that fixed the problem. I honestly cannot understand what the hell is going on out there. People are always saying idiotic things to me such as "the cream rises to the top", But you really don't have to look too far to see an enormous amount of contradictory evidence. I feel almost 100% certain that if that kid who cracked the code applied for a low level job at Sony, They would sneer at him and tell him he wasn't good enough to be able to earn money or have any place in the world. But 3000 people inside that skyscraper couldn't do what he did in one night in 10 years.

As to "its wild that someone would commit such blatant fraud", Have you seen the new apple ads? "Iphone 16 is built from the ground up to run AI", Which Apple has the godawful temerity to call Apple intelligence. I hope everyone knows that ai is just code requiring no special hardware of any kind. I hope everybody knows that these idiot corpos are calling it ai when you pull the pencil out of the pencil sharpener and it stops turning. If you had any idea how many high school kids know more about ai science then executives at corporations it would blow your mind.
 
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