How AI marketing start-up Metigy took investors for a ride
Court proceedings delve into an artificial intelligence house of cards, where staff, went for months without pay even as investors believed everything was rosy.
Early last year, the artificial intelligence marketing start-up Metigy was on fire, and its chief financial officer, Stephen Robinson, couldn’t understand why his boss David Fairfull seemed to be sitting around fiddling.
The company was rapidly running out of money. With Fairfull having taken a majority of Metigy’s capital for a $7.7 million loan to buy two luxury homes, it would not last long without more capital.
Nick BonyhadyTechnology writerNick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com
