Founded in 2012 by Sean Lane and Jeremy Yoder, Olive AI, a healthcare startup, looked to boost operational efficiency by using AI. Over the years, the company raised significant funding from high-profile investors and reached a peak valuation of $4 billion in 2021.
The initial success was promising, with over 900 hospitals adopting this technology. However, rapid, unsustainable growth and strategic miscalculations led to OliveAI’s shutting down in late 2023. “The lack of focus, coupled with the champagne and cocaine mentality brought on by easy VC money totalling almost $1 billion, is what killed yet another AI health startup, Olive AI,” author Sergei Polevikov said.
