AI startups are inflating a key revenue metric to win VC attention, says this founder
Founders are blurring ARR with future contract revenue to boost headline numbers, according to Spellbook CEO Scott Stevenson.
Thousands of AI startups are fighting for the VC funding needed to win a slice of the enterprise market. But according to Scott Stevenson, cofounder and CEO of the legal AI startup Spellbook, many are inflating their real revenue to get it. In a viral tweet on April 17, Stevenson called out these fledgling companies for perpetuating a “huge scam” in their metric reporting.
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