How Firmus went from Australia’s AI 'fairytale' to flop - podcast
It was supposed to be an Australian business success story. Just over a week ago local AI company Firmus was preparing to hit the market with a value that would put the startup in the same league as Woolworths. But last Friday, everything fell apart. At the centre was Firmus co-founder Oliver Curtis, an entrepreneur trying to rebuild his reputation after spending time in prison for insider…
Firmus, an Australian AI startup, had been poised to achieve a business success story similar to that of Woolworths. However, everything unraveled last Friday. The story's focal point was Oliver Curtis, one of Firmus' co-founders. Curtis, a once-promising entrepreneur, had served time in prison for insider trading. He attributed the company's collapse to Australia's skepticism towards entrepreneurs.
Business editor Jonathan Barrett spoke to Matilda Boseley about the founders' hubris and what this incident reveals about the future of AI investment.
Written by urgent.news from The Guardian Australia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
