- Billionaire investor Jim Chanos, who predicted and profited from the collapse of Enron, warned financial fraud is already on the rise as a result of the AI boom. He holds the theory that a cycle of fraud follows a cycle of financial success and expects more companies to break promises to investors about the capabilities of AI.
In 2020, billionaire short-seller Jim Chanos told the Financial Times we were in the “golden age of fraud,” the result, in part, of Silicon Valley’s “fake it till you make it” attitude and a surge in eager retail investing as a result of the pandemic.
