3 ms·

> used "round trip" transfers of investor and lender funds -- meaning they sent money to purported customers, who then returned it to iLearning -- to manufactur

> used "round trip" transfers of investor and lender funds -- meaning they sent money to purported customers, who then returned it to iLearning -- to manufacture revenue. They should’ve instead “bought stake” in the customer companies and then asked them to use that money to buy their “product” like the normal trillion dollar companies do.

wrqvrwvq 6mo ago
There is probably some phrase for describing this type of business activity. "If it's sophisticated it's actually legal" (no fault settlement). As a limited legalist this is actually the way it works and it's somewhat normal. A better lawyer provides better advice and steers company activity towards more defensible practice. If all the major ai players want to set money on fire for totally unmaintainable hobbies then so be it.
- arikrahman 6mo ago
  They should've asked their iLearningEngine AI to learn how to sophisticate their process.
stevenwoo 6mo ago
This was kind of the scam in season four of Industry which was loosely based on Wirecard scandal. Obligatory New Yorker story: https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled https://www.newyorker.com/magazine/2023/03/06/how-the-bigges...
- alsetmusic 6mo ago
  I completely missed that s4 aired earlier this year. I'm so glad I saw this comment.
  - stevenwoo 6mo ago
    After you watch the entire season if you are into the behind the scenes there were some pretty good interviews with the creators and performers talking about it - stop reading now and come back cause even the text in the links is spoilery If you are not into the UK dance scene, this explains some of the music choices https://www.gq.com/story/how-industry-curated-the-best-soundtrack-on-tv https://www.gq.com/story/how-industry-curated-the-best-sound... https://variety.com/2026/tv/news/industry-season-4-episode-7-max-minghella-interview-1236668640/ https://variety.com/2026/tv/news/industry-season-4-episode-7... https://www.avclub.com/industry-interview-myhala-and-marisa-abela-on-season-4-finale https://www.avclub.com/industry-interview-myhala-and-marisa-... https://www.avclub.com/surreal-watching-industry-epstein-fallout-hbo https://www.avclub.com/surreal-watching-industry-epstein-fal... https://www.indiewire.com/features/interviews/industry-season-4-finale-last-shot-whitney-explained-1235181956/ https://www.indiewire.com/features/interviews/industry-seaso...

wrqvrwvq 6mo ago

There is probably some phrase for describing this type of business activity. "If it's sophisticated it's actually legal" (no fault settlement). As a limited legalist this is actually the way it works and it's somewhat normal. A better lawyer provides better advice and steers company activity towards more defensible practice. If all the major ai players want to set money on fire for totally unmaintainable hobbies then so be it.

arikrahman 6mo ago
They should've asked their iLearningEngine AI to learn how to sophisticate their process.

stevenwoo 6mo ago

This was kind of the scam in season four of Industry which was loosely based on Wirecard scandal. Obligatory New Yorker story: https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled https://www.newyorker.com/magazine/2023/03/06/how-the-bigges...

alsetmusic 6mo ago
I completely missed that s4 aired earlier this year. I'm so glad I saw this comment.
- stevenwoo 6mo ago
  After you watch the entire season if you are into the behind the scenes there were some pretty good interviews with the creators and performers talking about it - stop reading now and come back cause even the text in the links is spoilery If you are not into the UK dance scene, this explains some of the music choices https://www.gq.com/story/how-industry-curated-the-best-soundtrack-on-tv https://www.gq.com/story/how-industry-curated-the-best-sound... https://variety.com/2026/tv/news/industry-season-4-episode-7-max-minghella-interview-1236668640/ https://variety.com/2026/tv/news/industry-season-4-episode-7... https://www.avclub.com/industry-interview-myhala-and-marisa-abela-on-season-4-finale https://www.avclub.com/industry-interview-myhala-and-marisa-... https://www.avclub.com/surreal-watching-industry-epstein-fallout-hbo https://www.avclub.com/surreal-watching-industry-epstein-fal... https://www.indiewire.com/features/interviews/industry-season-4-finale-last-shot-whitney-explained-1235181956/ https://www.indiewire.com/features/interviews/industry-seaso...