Facebook post repackages old video to hawk cryptocurrency promise

A recent Facebook post aimed at people who want "to use virtual currency" to grow their wealth features a video of Twitter owner Elon Musk and Alibaba Group co-founder Jack Ma. 

"Elon Musk and Jack Ma presented a new software called ‘Quantum AI," reads text appearing at the bottom of the video, in which Musk and Ma appear sitting on a stage holding microphones. "Their algorithm makes $1,500 in 5 hours on the rise and fall of cryptocurrencies." 

Graphics appear between both men that say "Quantum AI" and "$1500 in 5 hours." 

The video then urges people to click "learn more" in the post, which was flagged as part of Meta’s efforts to combat false news and misinformation on its News Feed. (Read more about our partnership with Meta, which owns Facebook and Instagram.)

Here’s why. 

Featured Fact-check

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stated on March 24, 2024 in a Instagram post

Video shows Russian President Vladimir Putin saying Biblical figures were “all Black.”

First, this video footage is old. It shows Musk and Ma in August 2019, when they appeared at the World AI Conference in Shanghai.

Second, neither man discusses a new software called "Quantum AI." Rather, they debate the potential risks and rewards of artificial intelligence, with Musk warning that the technology was evolving faster than humans’ ability to understand it, the BBC reported. 

Third, the video has been doctored to make it appear as though the Quantum AI graphic, among others, appeared onstage with the men. Original footage of the event shows that didn’t happen. 

Lastly, anyone who clicked on the "learn more" button in the Facebook post would be disappointed to discover a page that mentions not Ma, Musk or Quantum AI, but rather a site called "lollipoop.top."

We rate this post False.