- Published on November 28, 2024
- In AI Trends
Dear Investors, Our Failure is on You: Startup Founders
Over the last five years, 706 AI startups have failed, of which 54 are from India.
Image by Nalini Nirad
- By Vandana Nair
Founded in 2012 by Sean Lane and Jeremy Yoder, Olive AI, a healthcare startup, looked to boost operational efficiency by using AI. Over the years, the company raised significant funding from high-profile investors and reached a peak valuation of $4 billion in 2021.
The initial success was promising, with over 900 hospitals adopting this technology. However, rapid, unsustainable growth and strategic miscalculations led to OliveAI's shutting down in late 2023. “The lack of focus, coupled with the champagne and cocaine mentality brought on by easy VC money totalling almost $1 billion, is what killed yet another AI health startup, Olive AI,” author Sergei Polevikov said.
It’s perplexing to think that even with backing from trustworthy investors, a startup can fold due to misc
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Vandana Nair
As a rare blend of engineering, MBA, and journalism degree, Vandana Nair brings a unique combination of technical know-how, business acumen, and storytelling skills to the table. Her insatiable curiosity for all things startups, businesses, and AI technologies ensures that there's always a fresh and insightful perspective to her reporting. She now hosts her tech segment 'Point Break' on AIM Tv.
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