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00:00:0000:00:00 How Firmus went from Australia’s AI ‘fairytale’ to flop - Full Story podcast It was supposed to be an Australian business success story. Just over a week ago local AI company Firmus was preparing to hit the market with a value that would put the startup in the same league as Woolworths. But last Friday, everything fell apart. At the centre was Firmus co-founder Oliver Curtis, an entrepreneur trying to rebuild his reputation after spending time in prison for insider trading. Curtis said the collapse was down to Australia’s ‘mantra of disbelief around entrepreneurs’. Business editor Jonathan Barrett speaks to Matilda Boseley about the hubris of the firm’s founders and what this says about the future of the AI investment bubble Read more: From boom to bust in five days: how Firmus’s much-hyped Australian stock market listing imploded ‘These guys are just coming from nothing’: questions over multibillion-dollar Firmus float amid datacentre backlash Composite: CEO photo Explore more on these topics Business Full Story AI (artificial intelligence) More on this story More on this story The biggest threat from AI is the sense that we have no say in it. To that I say game on Card surcharge ban used as ‘cover’ for larger price increases by Australian businesses, experts say Australia may risk a diplomatic spat with the Trump administration if it limits the viewing of a US execution Egg ‘cartel’ of a dozen suppliers manipulated Australian market for years, regulator alleges ‘BYD effect’: electric vehicle boom becomes unexpected tool to combat inflation Dystopian and dehumanising: that’s what it felt like when I was interviewed by an AI assistant From boom to bust in five days: how Firmus’s much-hyped Australian stock market listing imploded Rent-tech platforms sidestepping credit card surcharge ban with new fees and paid ‘memberships’ Firmus pulls biggest ASX float since Telstra amid investor doubt about datacentre company More part-time bosses and co-CEOs could keep women in leadership and narrow Australia’s pay gap Most viewed Most viewed