Xanadu quantum computing startup gets $32M

A reader sends this blog post:

In a previous blog post, I commented about Xanadu AI:

Xanadu.ai, a quantum computing Theranos, will never make a profit

The latest news about the Xanadu Ponzi scheme is that they just got an extra CAN$32 Million (This raises their total funding so far to CAN$41M, according to TechCruch). This company has practically zero chance of succeeding. Their quantum computing technology, using squeezed light, is **far inferior** to the ones (ion trap, squids, optical, anyons, quantum dots) being pursued by a crowded field of well funded startups (Rigetti, IonQ, PsiQ, and many others) and giant monopolies (IBM, Google, Microsoft, Intel, Alibaba, Huawei, …).

The latest 32 million was reported in the Globe and Mail:

Toronto startup Xanadu raises $32-million to help build ‘world’s most powerful computer’

Excerpts in boldface:

But Xanadu needs to take “three giant steps,” before it can fully commercialize its technology, said Massachusetts Institute of Technology mechanical engineering and physics professor Seth Lloyd, a leading expert in quantum computing who advises the startup:

“They need to improve the squeezing by a significant amount and show they can get many pulses of this squeezed light into their device, and then control these pulses … [then] show you can actually do something that’s useful to people with the device. Given what they’re trying to do, they’re on schedule. Any one of those things could fail, which is the nature of science and life and being a startup.”

I don't know anything about this company, but they all seem like scams to me. As long as there is investor money for these projects, they will continue, no matter how many giant steps are needed for commercialization.