Silicon Valley has not changed that much since Mike Lynch was in his pomp

Mike Lynch has already experienced a humiliating fall from the dizzy heights of the 2011 sale, having spent the past 10 months in the US wearing a GPS ankle bracelet, under armed guard. Photograph: Yui Mok/PA

Now, over a decade on, the multibillionaire stands accused of 16 counts of wire fraud, conspiracy and securities fraud by US government authorities, following his extradition from the UK. His defence team argues that he is innocent and wasn’t aware of any accounting improprieties as financial management was delegated to managers and not closely overseen by Lynch.

Lynch has already experienced a humiliating fall from the dizzy heights of the 2011 sale, having spent the past 10 months in the US wearing a GPS ankle bracelet, under armed guard. It could get far worse, with a possible 25 year prison sentence ahead. And yes, it was always questionable. Whatever may or may not have happened in terms of Autonomy’s own record keeping or any alleged fraudulent activity by Lynch , the Autonomy purchase was viewed with much incredulity at the time, by analysts, shareholders and, dare I say, journalists.and poor decision-making: “ Apotheker’s bid to buy UK analytical search company Autonomy at a substantial premium to current share price… perturbed the market and analysts.

Looking more closely at the company and Lynch now, both chime in curiously familiar ways with our current times. Lynch’s background before setting up Autonomy was in adaptive pattern recognition, an early stage of what we’d now call AI, and he’d already developed software for fingerprint, facial and auto licence recognition – use cases of ongoing controversy today.

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