The Antifraud Company

We're fighting fraudsters.

[The Antifraud Company @AntifraudCo]

And we're live!

[Alex Shieh @alexkshieh]

Introducing The Antifraud Company (@AntifraudCo) 🧵

We raised over $5M from @AbstractVC, @BrowderCapital & @dunevc to build a private-sector DOGE, where we use AI and investigative journalism to track down those who defraud American taxpayers.

[The Antifraud Company @AntifraudCo]

@tbpn @alexkshieh Based.

[TBPN @tbpn]

Thiel Fellow and cofounder of The Antifraud Company @alexkshieh explains how his company is using AI to identify and collect bounties on fraud:

"There are essentially two steps here. The first is that a lot of this data is unstructured. A lot of it is documents. So LLMs really speed that up — getting structured entities out of the unstructured data."

"And then we ontologize it. 'This company has this contract, has this relationship with this employee,' etc. We build this ontology knowledge-graph-like thing."

"And then we have the second layer. The rules model, essentially. My cofounders are both lawyers. They have a legal background. They've been working on the fraud issue in the legal sphere, and so they know what that looks like."

"With their input and expertise, we're able to develop this rules model, compare that to what we're seeing in the real world, and flag things that look like violations in real time."

[The Antifraud Company @AntifraudCo]

@tbpn @alexkshieh 🎯

[TBPN @tbpn]

Thiel Fellow and cofounder of The Antifraud Company @alexkshieh says he's building the Palantir of fraud detection:

"People have always been able to find fraud manually. But usually they either luck into it or they have a tip from an insider.

"We're trying to eliminate that bottleneck. We want to find the fraud using AI."

"We're tapping into all these sources of data. And once we have a good idea of what's going on, we send out human investigators to go talk to sources."

"But we want to be going outbound. We don't want to have to wait for people to come to us. Because that's just less efficient. When there's $600 billion in fraud, you're not going to get tips for most of it. And if you want to solve it, this is the way you have to go."

[The Antifraud Company @AntifraudCo]

Congrats to our co-founder Alex Shieh!

[Alex Shieh @alexkshieh]

I guess I'm a Thiel Fellow now?!

I'm building AI models at @AntifraudCo to catch fraudsters who defraud the American taxpayers. We're qui tam laws to sue the fraudsters directly, and keep 15-30% of the recovery.

Today, some fraudster's day got a bit worse... (also we're hiring!)

[The Antifraud Company @AntifraudCo]

@thielfellowship @VictorWBoyd Congrats Alex!

[The Antifraud Company @AntifraudCo]

@alexkshieh Congrats Alex!

[The Antifraud Company @AntifraudCo]

@alexkshieh 👆🚨

[Alex Shieh @alexkshieh]

Qui tam laws like the False Claims Act gives whistleblowers 15-30% of money the recover from fraudsters the US Government.

If you find billions in fraud, that’s a lot for the government and the whistleblower. @AntifraudCo is automating this with AI.

[The Antifraud Company @AntifraudCo]

@alexkshieh

[The Antifraud Company @AntifraudCo]

@alexkshieh Like, maybe fraud is bad.

[The Antifraud Company @AntifraudCo]

@alexkshieh

[The Antifraud Company @AntifraudCo]

@twistartups @alexkshieh @Jason Let's make fraud unprofitable and preventing fraud profitable.

[This Week in Startups @twistartups]

Worried about government fraud? Go profit on it!

@alexkshieh , Founder of @AntifraudCo , breaks down for @Jason how his team will systematically uncover millions of dollars of fraud — and receive 30% under the False Claims Act.

Anyone can do find fraud, but @alexkshieh is building an automated fraud discovery engine.

PLUS

@alex and @MarcBenBrotman take a look back on @Jason interview with @bscholl back in 2016 when @boomsupersonic was just getting off the ground.

THEN @jason takes live Q/A from Founder University Tokyo! 🇯🇵

🎥 Watch the full episode here 👇

[The Antifraud Company @AntifraudCo]

@alexkshieh @kevinnbass We think healthcare is about helping people.

[Alex Shieh @alexkshieh]

.@kevinnbass says >20% of healthcare spending (>$1T) is fraud.

@AntifraudCo is filing qui tam (pronounced "key tam") suits against big pharma, insurers, PBMs, etc, who defraud taxpayers.

If we win, we get to keep 15-30% of the recovery to offset expenses + profit. If fraud is as high as Kevin says, then @AntifraudCo is on track to become a unicorn that saves taxpayers billions.

[The Antifraud Company @AntifraudCo]

@alexkshieh @kevinnbass Say "no" to fraud.

[The Antifraud Company @AntifraudCo]

@alexkshieh @kevinnbass 🇺🇸

[The Antifraud Company @AntifraudCo]

@alexkshieh @elonmusk 🇺🇸

[The Antifraud Company @AntifraudCo]

@alexkshieh @DOGE @VP Capitalism is the answer