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Harsh Dwivedi

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Medial • 1m

Builder Ai went from unicorn to bankruptcy in 9 years. > founded in 2016 > promised to make apps ā€œas easy as ordering pizzaā€ > claimed to use AI to automate development > actually ran large teams of Indian coders behind the scenes > rebranded from Engineer ai to Builder ai > raised $500 million+ over multiple rounds > backed by Microsoft, SoftBank, Qatar, etc > got a $250 million Series D at $1.3 billion valuation > founder was the poster boy of Indian AI named to Fortune 40 Under 40 > gave TED talks on no-code and democratising tech > claimed $220 million revenue in 2024 > internal audit revealed real number: just $55 million > marketing promised AI, delivery relied on humans > whistleblowers exposed inflated sales and fake automation > lawsuits filed in India over loan fraud and money laundering > cofounder under investigation > then quietly stepped down as CEO in early 2025 > took a bizarre title: "Chief Wizard" > new CEO tried layoffs and cost cuts > $85M owed to AWS, $30M to Microsoft > creditors froze cash reserves > company couldn't pay employees > filed for insolvency in May 2025 Gave some real WeCrashed vibes.

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