# The Firmus 'flop' warning for the AI bubble

An episode of [ABC News Daily](https://invisiblenetwork.ai/podcast/1349523628), 14 Oct 2026, 15 min.

Audio: https://mediacore-live-production.akamaized.net/audio/02/pe/Z/65.mp3

It was meant to be the biggest ASX listing since the privatisation of Telstra, but last week the initial public offering for Firmus was dramatically pulled before a single share was traded. The co-founder of the AI startup, Oliver Curtis has since lashed out - blaming Australians for failing to support people prepared to take a risk. Today, columnist at the Australian Financial Review Mark Di Stefano on whether he could be right or if it's an early sign of a bursting AI bubble. Featured: Mark Di Stefano, Australian Financial Review columnist

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