Remember IRL, the social media startup that faked everything?

I'm gonna unlock this memory for you.

About two years ago, IRL went bust.

It was a social media startup which, at some point, raised hundreds of millions of dollars.

By 2021, it had reached a valuation of $1.17 billion, which means it was a unicorn.

For reference, a unicorn startup is a startup that reaches a $1 billion status or more.

Nice.

Except for the fact that as, it turns out, around 95 percent of its users were fake and bots.

And the best part?

The founder and former CEO is still living his best life in Hawaii, apparently.

Oh yeah no doubt they're chasing him for the money, they want their money back, and he was charged with fraud.

But, at the time of writing, there are still 'ongoing legal proceedings'.

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