3 ms·
Like you mention, they acquired legitimate companies, but as far as I can gather, their own tech was fraudulent through and through. This is an account of someo
by missedthecue 5y ago
Like you mention, they acquired legitimate companies, but as far as I can gather, their own tech was fraudulent through and through. This is an account of someone who went on a roadshow with the Lernout & Hauspie sales team in the 1990s.
"They
had this room with a whole
wall of computers and you
talked into a microphone and
the computers would do the
speech recognition. Then they
put your sample through a
translation program, and the
program would convert it to
another language. They were
demonstrating the Holy Grail
of speech recognition in 1999.
It turned out all that was done
by a man behind the curtain,
literally the Wizard of Oz. The
man behind the curtain just
typed it in; everything else was
an illusion."
From page 37 of this columbia.edu PDF.
https://www8.gsb.columbia.edu/valueinvesting/sites/valueinvesting/files/Graham%20%26%20Doddsville_Issue%2036_vF_0.pdf https://www8.gsb.columbia.edu/valueinvesting/sites/valueinve...