Watch This Before Building an AI Startup
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- เผยแพร่เมื่อ 1 พ.ค. 2023
- In this video, we look at the risks of building an AI startup right now and what to do instead. While AI and ChatGPT are incredible, this may be the worst time to do an AI startup.
We look at the risks of building a feature instead of a product, building on an obvious missing feature in AI platforms or suites. With hyped technology, the new technology can often be a solution looking for a problem and it should be the other way around. Being too early, and competition from stupid money pouring in are also risks. There is also the fear of AI and how it could lead to regulation.
To mitigate these risks, you should either go big and build something revolutionary or go niche and create a blue ocean for yourself where the big platforms probably won't go.
Ultimately, timing is everything in startups and sometimes it's good to let others fight it out before entering the fray. Watch the video to learn more and get advice on building an AI startup.
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#ai #chatgpt #timing #startups
![Biggest Startup Failures of ALL TIME [2023 Edition]](http://i.ytimg.com/vi/E7QxYHipqag/mqdefault.jpg)
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I am a founder of an AI startup. We started Oct last year. Your points are totally valid, I wish I knew some of these stuff earlier, but I had to learn it the hard way, naturally as a founder. Thank you very much for making such great content. I would say I learned more practical things in your channel about startups then any other channels I had encountered.
Thank you very much for the kind words! I wish you the best with the startup, but no matter what happens you've learned a lot!
Thank you for sharing
That's awesome. How's your traction so far? We started about 3 months ago in Africa. There's a lot of interest in our products. Like... A lot. But clients become apprehensive to sign on the dotted line. Wondering if it's a price-point issue. I dunno.
Anyway, would love to know more about your journey.
Well done :)
We have done the first round of beta testing with 100 testers, got their feedback, now we are fixing it up and adding features that get menioned repeatedly by testers@@qupation7296
This is some great advice! We've seen a lot of companies set sail to be a product but ended up becoming a feature without thinking in the long term. This was an excellent presentation and will help out a lot of startups I'm sure!
Thanks, yes that happens a lot too!
I express my utmost gratitude for this remarkable video. Its sheer brilliance and informative nature have left me truly astounded. For quite some time, I have been pondering over a fitting concept for a startup endeavor. Regrettably, I find myself still uncertain about what truly constitutes a commendable idea. Nevertheless, I must acknowledge the immense value your channel offers, as it serves as an invaluable source of knowledge for my entrepreneurial aspirations.
Wow, thank you! Much appreciated!
This video is gold, invaluable points and it doesn't just apply to AI it applies to other hype technologies where it's possible they become features in a bigger existing product.
Thanks appreciate it, yes a lot of this is true for many over hyped technologies..
Awesome video, subscribed!
Best Advise anyone gave me over the past 6 months.
Thanks, very much appreciate it!
The pace of this video is on point! Taking notes.
Great thanks!
Interesting perspective, and I think many important points are mentioned. It's easy to get taken away and jump on the hype of a new tech quickly. This means that the risk of becoming obsolete due to the factors mentioned in the video could easily be overlooked
Lovely! Thanks for sharing this interesting journey.
Thanks, glad you liked it!
Very insightful and refreshing, thank you!
Thank you, glad you liked it!
go big or go niche. awesome! thank you!
Amazing video, thank you!
Very welcome, glad you liked it!
Great video. Someone finally speaking truth and making some valid points. The vast part is that this video will be valid for any new-tech in a future. I agree 100%.
I'm glad I found you. Being a founder is not easy
Good, yes it can be a rough job!
Great video. Thanks!
Glad you liked it!
“Now stop watching, build something “ very sweet inspirational words 😊
Yes! Now go Build Something!
Your video has been invaluable to me as a startup founder. We launched our AI-powered MVP just 6 months ago and have been iterating constantly. Surprisingly, our rapid progress has allowed us to develop cutting-edge technologies that are reminiscent of those seen in Black Mirror. Thanks for the guidance; it's definitely kept us on the right track!
Thank you very much, I very much appreciate the kind words! Good Luck with it 😎
Great Advice
The AI unalive grid is already in place and working...
AI=> 5G beamforming => jab nanocapsule valve release.
It's always amazing how little business people know about how the world really works.
But a great video series BTW !!
I'm actually working on a fintech app that has nothing to do with AI, but the advantage of being able to utilize AI to maximize time and produce marketing content has been incredibly valuable!
Yes and make sure you use that advantage
Great video. I wonder how many of these new startups or tools following the hype will be dead one year from now - probably most of them.
Yes, I'm afraid a lot of them will die, others will have great founders that will pivot the business in a direction for survival.
I would argue that a startup could pursue ‘writing’ related use cases as long as they do it better than the big tech companies. Calendly launched a simple tool that one could argue would be a feature for Google calendar and built a company valued $3b+. The approach would have to win a specific category which would likely require the company is able to build its own models. Many of the writing tools out there are built on OpenAI which makes it hard for them to differentiate…
That is a great point and I think Calendly is an example of something that is a bit out of the normal. They are really a successful one trick pony. It can happen, but it is rare and risky.
As a beginner starting out say for example, How is it actually possible for them to invent business plans that are unique to their competitors to help them stand out ? Because if you think about if top companies aren’t offering something that may seem appealing to beginners then they might think it is unique but actually there is a reason why they are perhaps not offering that feature if that makes sense. Essentially what I am trying to ask is how can a beginner actually pitch a unique idea that is unique and valuable to customers and better than competitors ?
Sorry I'm just not sure I understand the question. There are always things that haven't been done before or that the big guys won't build.
@@RawStartup okay, i know this may sound like a pretty silly example but I will use this. If I aspired to make a wine company better than yours then how would that be possible if you are the best in the world because you clearly offer products that satisfies customers needs. As a beginner I may see something that your not offering in ur business but actually there is a reason for that which isn’t critical for customers ?
Okay the thumbnails are getting really darn good 😅
Thanks, I got a serious thumbnail guy to help, he is darn good!
Early this year I was keeping up with all the AI tools (too many now), and yea there are so many "feature" products. Crypto is just getting ripe, the tools are getting easier and more robust. That being said, I think some of the best use cases for crypto are more about behind the scenes infrastructure tradeoffs that most customers don't care about. Like serverless infrastructure, most people don't know that Neflix switched to it for better reliability or that Amazon recently changed some of it's stuff away from serverless recently to save money based on a certain use case. It's a tech tool for nerds, like me.
Thanks, great perspectives!
As a beginner wanting to start a business as successfully business man, in this moment of time do you recommend me make an AI platform business or something different as they are still risks with AI in this moment of time?
There are so many ways this can go, an AI only business is risky right now, but maybe a business that uses AI.
the good thing about create a feature is that you can sell your "startup" to a bigger player, not for one million, but from 500k to 2 millions is very nice
True and that is all good for a bootstrapped Startup, but you cannot sell a funded Startup at that price.
sitting here thinking on your great points. I had this thought a few weeks ago: AI should not the product, it should be a feature/enhance your product.
If you are building your entire app based on OpenAI, you’re dumb. But look at Notion, they added AI as a feature of a larger offering.
If you do implement all AI, you need to do it in an extremely unique way like you mentioned.
Going niche is what 99% of people should probably do. And I’ve been a believer that this is the future of tech for the past few years with the advent of no code, and now even more so with AI
Yes agree, you can build incredible extensions to new our existing products with AI
Hello sir, this was very insightful as the recent hype makes people go towards something like people searching for gold. Sir my question is what will be the shovel in this situation. I think it is teaching people about AI. Sir I would like to connect with you on a platform any one is ok i'll be really glad if you do
Thanks yes what is the shovel, I'm honestly not sure, but it could be education.
@@RawStartup sir i want you as my mentor is there a way you can connect with me
Would this apply to me as someone wanting to create a keyword based prioritization feature for my personal inbox management tool with Gmail API access through chatgpt ? Do you have any tips?
Hard to say from here, but yes this does sound like a feature more than a product, sorry!
@@RawStartup cheers, just one more question, is the overall purpose of this video to encourage us beginners that we can perhaps use AI tools to help us but not be too reliant on it as it has its issues if that is your message you are trying to say?
Can you elaborate on what you mean by 'we become richer, not poorer'. this stood out to me and I'm very curious to understand your perspective.
Basically, when a computer does something for us we save money. Whatever that product is it will be less expensive for us to buy, hence we become richer. Maybe an Uber with a driver was $20, but the driverless Uber will be $10 for the exact same product and we do become richer. Some people will need to look for new jobs, but historically we've always managed to find other and often more interesting jobs for those people.
@@RawStartup Thank you
@@RawStartup Well explained!
Do you do consulting meetings? I would like to spend 30 min with you ASAP! :)
Thanks, but not something I do right now
Go big or go niche. The best words
Thanks!
After GPT PDF massacre tweets, I came across your video. And this make sense, Niche is the way to pivot
Thanks Heini, again a great video. Seems I'm rather the pioneer that gets slaughtered. At the time we built super-hype image recognition. Now we build AI tech to measure and track mental health. Need to become a settler.
Thanks, I guess you like the action of being a pioneer! No with Earkick you will be a settler.
"This was signed by a lot of thoughtful people ... and Elon Musk" 😂
We wouldn't want to mix him up with thoughtful people 😉
Herd of scaleai ?
What do u think about it
Sorry I don't know it well enough.
@@RawStartup no problem
What is the difference between a product and a feature? For beginners wanting to start a business with no money, how many features should we work on that eventually builds an overall product? 2,3?
Thanks, not that complicated, but still maybe I should make a video on that at some point. Basically a feature is something that belongs in a bigger product. A product usually has many features and therefore wort installing or buying.
@@RawStartup okay cheers? but do you have startup tips for beginners?
You are telling that We want to build an AI that changes the normal way of doing something.
Like creatimg an app with code to creating an app with text Is this crt?
Ok? Now I'm confused...
@@RawStartup Why?
I just don't understand what you mean
Instead creating an AI service, I simply added AI features to my site, and charge my users extra if they want that.
That could also work!
How do you add AI feature to your site?
"he still hasn't found it" 💀😂
Yup, I guess he is still looking!
Enterpeneurship asmr
😎
Technology Evolution
Yes that is how it goes!!!
The metaverse was doomed and failed the first time it was created - over a 15-year period by Jaron Lanier from 1985 to 1999. NEVER FOUND product-to-market fit
We saw Zberg start metaverse and thought "okay, he's too young to be aware of Jaron Lanier's slow, painful failure"
$14 billion dollars he's spent on that 'white elephant' metaverse. Good gawd
NFT is basically crashing down, Web3 turned into dust, Crypto & FTX is dead ,Clubhouse is dead,
basically every fad out there is dying.
with AI, AI will benefit the existing and established Platforms and Professional Tools the most.
AI is not good enough as a standalone, it's only good as an API to strengthen the existing product
We have to be very careful with any new tech because the hype is insane. I do believe this one will live up to some of the hype, but maybe not exactly as we expect.
I second this.
Counter point: Midjourney are raking in the money right now.
@@Sammi84 until when?
they're at the mercy of the law and regulation.
there are a lot of debate about the data that they used to train the AI.
they're getting sued left and right,
and Companies didn't want to risk of using a copyrighted image in their product.
After all, they're unnecessarily stole someone works.
and each of the artworks that they stole were actually taking those artists weeks to months to produce.
if you can't relate to the artist,
imagine if i take all of your years of work data from your laptop and claimed that all your data were mine.
how do you feel about that?,
years of works getting stolen like that,
and worse, i'm the one who was getting all the acknowledgement from your work.
that's how pissed they are and you can't blame them.
stealing their Artworks were unnecessary, because the real world is already full of great things to take photos, for free, and use it as data to feed the AI
you can just generate a photorealistic stuff, using an abundant of real world data legally for free.
instead, they decided to stole someone works.
AI can progress and improve well enough without having to stole someone elses works.
so the "halting the progress of AI" is just a lame justification.
is it not enough to use real photo to generate photorealistic stuff?
isn't photorealistic is even better than a cartoon?
or are you that insecure that you've to claim that you're the one that draw that AI generated Jpg on Twitter?
I disagree with your point of view. There’s a lot of opportunities in the market, specially at other countries than US, people still doesn’t know what GPT is. Maybe you’ll be dead in a year, but there’s ton of app developers making huge money (millions) just by providing a service with an API. And if I make hundreds of thousands in a year if it means I’m dead in the next, I’m all for it lol. It's like the 2000s internet boom, a LOT of people made huge sums of money from investors, etc. But now, you can also make from customers that need an easy access to a specific product, even if some big company build in the future, it will take some time for that to consolidate, in the meantime, you can capitalize on that market.
Thanks that is true and a valid point. I always think long term, so generally less interested in doing something short term. Agree though your strategy might well work.
Well, I think you are just trying to look smart, this video has a ton of insight for those who understands it (founders)
Great video as always, Heini. Is it possible to contact you privately in any way? I've been working on an idea of an app for some time now, and the same as Vivino, my app would be an info based app. I think you could really help me, as I have not found the answers in your videos.
Thanks try and find me on LinkedIn, I don't have much time these days, let's see.
@@RawStartup Thanks, I'll add you now!
@@RawStartup I followed you now, but my name is Ask Simensen. Maybe you could add me?
Hay I am from India
I build a Ai startup and this video is very very knowledgeable thk u soo much sir
If u are cruise about my Ai startup plz and a email
I need your help and guidance
And funding 🎉🎉🎉🎉
Thanks, good luck with it!
@@RawStartup how I contact u