Jack Dorsey's Block Under Federal Scrutiny
$479M Lost By Over 140K Traders In Liquidations, Tether Reports Record Q1 $4.52B Profit
A developing story: Rabbit, Inc. founder was accused of crypto grifting.
Rabbit, Inc. is a hardware company building human-machine interface tiny pocket AI devices with its own RabbitOS operating system. Rabbit advertises OS personalization via natural language, push-to-talk, USB and SIM slots.
The Rabbit devices were made to support basic functions like music, search, rideshare, food orders, computer vision, generative AI, notes, translation, great privacy, and more.
The company has had quite some hype on Twitter, having created its account in January 2023 and already gained over 85K followers. Rabbit was founded in 2020, developed for 4 years, and the first device was announced in January 2024.
From a bird's eye view, Rabbit, Inc. appears to be a small hardware innovator with big-name backers and support from the community because of its something fresh look, trend-setting, and user focus.
But someone posted an interesting paragraph on Twitter about the past of Rabbit's founder, Forbes 30 Under 30, Jesse Lyu. Following, it, posts on Reddit appeared revealing his history further. Lyu's biography video and summary can be found here.
Andy Parackal of AIIA discovered and shared that Lyu was previously part of an NFT/AI project Gama (Cyber Manufacture Co) that promised advanced AI non-playable characters powered by a Quantum Engine AI for Gama NFT holders.
A Reddit post showed an old Discord message from Lyu, where he said to his NFT holder community that he delivered an AI service and that more products were to come. Allegedly, the customers never got the AI service and that Gama disappeared completely just months after.
A large list of comments from Rabbit customers followed, with some expanding on Lyu's Gama project's endeavors and debating, and others saying they've cancelled their Rabbit device orders after reading. One comment even noted that Lyu teased an appearance from Elon Musk on their GAMAverse panel.
One Tweet showed a found Gama NFT team’s address, with around $900K. One Reddit comment described very well how Gama really played out:
Andy Parackal said that Lyu and the Gama team have deleted every YouTube video featuring Lyu, except for one interview from another Chinese content creator's channel. and that Parackal himself was very skeptical about Rabbit from the very beginning. His post also said that he'd upload the full video with subtitles.
Thanks to Redditors and Tweeters for their research.
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