It’s a tough funding environment right now and although we’ve often reminded founders that some of the most successful companies launched during the toughest times in funding, that fact often gets lost in the tough-times funding headlines.

The current exception seems to be if/when founders have ‘AI’ someone front and center in their pitches. As we all know at this point because the hype machine/tech press impresses it upon us every two or three headlines, AI is going to change the world, replace most jobs, eliminate entire professions.

Including coding itself, if Devin is any indication. Devin is “An AI startup that’s not even 6 months old says it’s worth $2 billion Cognition Labs is building an AI tool for writing code — and seeking a valuation six times its current level,” said Quartz.

Parent company (and YCombinator alum) Cognition Labs, “launched what it calls “the world’s first fully autonomous AI software engineer,” Devin, in March, reportedly started working on the product only last year, and currently doesn’t generate any real revenue. According to the startup, its product “can plan and execute complex engineering tasks requiring thousands of decisions,” and has been equipped with developer tools such as code editor and browser — “everything a human would need to do their work.”

The Hype Machine Is Alive and Well

Except, it’s not true. Debunking Devin: “First AI Software Engineer” Upwork Lie Exposed, Hacker News reported. As one wag noted in the comments, “You are supposed to make it before you get caught faking it.”

Speaking of AI overhype, the $699 Humane AI Pin is  now on the market. As Gear Patrol opined, The First Major AI Gadget Launch in History Is a Dumpster Fire It looks like smart brooches won’t be replacing our smartphones quite just yet.

To refresh your memory, “it initially made waves as a possible future replacement for smartphones thanks to a TED talk presentation from the company’s co-founder, Imran Chaudhri, delivered almost a year ago, dubbed The Disappearing Computer – and a World Where You Can Take AI Everywhere. By pushing our primary interaction with technology away from screens, we could be free again to fully take in the life happening right in front of us.”

Speaking of hands-free, reviews were a resounding thumbs down:

From Engadget: “The Humane AI Pin is the solution to none of technology’s problems.”

From The Verge: “Humane AI Pin review: not even close.”

From The Washington Post: “Humane A.I. Pin review: A promising mess you don’t need yet.”

From Wired: “Humane Ai Pin Review: Too Clunky, Too Limited.”

Maybe it’s a first step but, like Apple’s Vision Pro, it has issues. Like the fact that it gets too hot for wearers to use for any length of time.

“These are not complaints about “little detail(s)” or early learning bumps on the eventual road to mastery. These are the core services the Humane AI Pin is supposed to provide consumers who choose to pay $699 for the hardware and $24 in monthly subscription fees, and at least right now, it appears the AI Pin doesn’t offer these promised benefits effectively or consistently,” Gear Patrol noted.

In other words, between Humane AI, Apple’s still kludgy Vision Pro and yes, even Devin – and note that the former two do come with hefty price tags – while first generation products are often buggy – and pricey – it seems Silicon Valley might have reached a new level of releasing products way before their time or without beta testing in the wild – or at all – or dare we suggest it: charging early-adopters/fan boys for a product that’s not yet ready for prime time and allowing them to pay for the privilege of essentially being beta-testers. Time-limited refunds available.

Gear Patrol suggested another factor at play, which we’ve personally been hearing more and more:  that “having to meet an irrational investor’s timelines – for why the company launched a product that was so clearly not ready.”

So much for slow and steady winning the race and why beta test when paying customers, what to speak of those who’ll pay a monthly subscription fee for the honor of doing so as well – will do it for you? Or as we noted last week re tech going beyond ‘ask forgiveness’ and overstepping the laws themselves, why stop there?

And just when you thought that the dating app vertical couldn’t get more saturated, never underestimate the power of AI:  The market cap for Match Group is $9B. Someone will build the AI-version of Match Group and make $1B+.

“Him: “Some people play video games, I play with AI girlfriends… I get to customize my AI girlfriend. Likes, dislikes etc. It’s comfort at the end of the day.” There are a few platforms he likes but he prefers candy dot ai and kupid dot ai “It’s kinda like dating apps. You’re not on only one.”

Well, if it’s completely customizable and AI solves all problems, why would you need to be on more than one?

AI certainly has its place in the world, but before it becomes a blanket that every founder uses, you do need to ask that most basic of questions that’s front and center in every investor pitch deck: what problem are you solving? And note to self: developing a solution in search of a problem doesn’t work the same way by a longshot, with AI dating being a perfect example. One might find companionship and all well and good and cha-ching, the developers and investors, but at the end of the day, it’s not a marriage made in heaven. Onward and forward.