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Month: February 2023

Charge!

Charge!

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Image by mohamed_hassan from Pixabay

We recall back in the day when Facebook hit the zeitgeist in a huge way, it was suggested that the company charge a nominal fee for the service, and we believe it was a dollar a month. Easily affordable in most countries, and why not to bring family and friends closer. Of course, there are countries where a dollar a month is quite steep, and the company opted for eyeballs uber payment and they’d make their money via tracking you and offering up adverts.

As a note to self and a cautionary tale to founders: best to bake in the revenue model/premium services early in the game, as did, say, LinkedIn, who, when they hit a tipping point long ago – a year or two after funding – the company did maintain a free version, but also introduced a premium model and people were willing to ante up. It seems to have worked. We do believe that the company is still around. And with multiple revenue spokes. Also a good idea.

Re Facebook. Well, times change, as has Apple’s advertising policies: the company’s anti-tracking protections cost Facebook, now Meta, some $10B in ad revenue last year. Read More...

The Product Point that Every Single Founder Overlooks

The Product Point that Every Single Founder Overlooks

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Image by Silvia from Pixabay

Every two weeks, we host an online breakfast with a single investor, and a small, self-selecting group of entrepreneurs. Other investors – angels and VCs – sometimes attend as well. We keep them small to make sure everyone has a chance to participate, ask questions, and learn. You’d be amazed at how many founders have found investment – just by showing up and participating.

And hearing first-hand, precisely what investors are looking for – and we don’t simply mean the verticals in which they invest – but what they look for in a pitch deck, and how they read it.

We know you’ve heard it all before. As we’ve said over and over, in our opinion, the #1 reason why startups fail is that founders don’t listen. Read More...

Software Is Cheating the World

Software Is Cheating the World

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Photo by Thought Catalog on Unsplash

For some time now, the members of the tech synod have been considered to be the smartest guys in the room. They seem to just know what’s best for the world on all fronts and never mind that there is a difference between science and computer science.

For example, a Mexico-based startup will next week launch sulfur particles into the stratosphere in a “rogue” move to create a “mini-volcano” effect it says could help cool the planet…But experts in geoengineering say the launches set a dangerous precedent for private companies or governments to interfere with the planet’s atmosphere,” MSN reported (Climate change activist goes rogue releasing ‘mini volcanoes’ to cool atmosphere (msn.com)).

Well, consider volcanoes. Massive volcanic eruptions spew billowing clouds of chemicals into the atmosphere and block out the sun, as these ‘scientists’ are attempting to do – which tends to lead to failing crops and starvation. Read More...

Web 2 Oh, It’s Not Over Yet: The Era of the Fakes

Web 2 Oh, It’s Not Over Yet: The Era of the Fakes

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Image by Clker-Free-Vector-Images from Pixabay

Despite all of the discussion about Web 3, it has been eclipsed of late by Generative AIs such as ChatGPT, which, according to many an article we’ve seen, is going to make a lot of white-collar workers redundant, as the Brits say. Artificial Intelligence Passes MBA Exam (given by a Wharton professor, FYI) and New ‘Robot’ Lawyer to Represent Defendant in US Court. ChatGPT even passed the US Medical Licensing exam. As we know, it’s also being used to write news articles, tweets and who know what else in startup land, giving new meaning to the term, ‘fake it till you make it.’

When we first got wind of the Generative AI, knowing that it was scraping the internet and well aware of the rampant censorship that has been and is being practiced by the social networks, all of whom have had a stranglehold on the conversation for quite some time, including the pre-Musk Twitter, YouTube and Facebook, we knew this would be a problem. And lest we forget, the programs tend to be written by programmers who have a certain bias, or whose C-Level has a certain bias, and in case you missed it:  The damage done to the credibility of AI by ChatGPT engineers building in political bias is irreparable. The AIs will always have human biases, because it’s humans who are creating it.

Generative AI isn’t the only thing that’s faking it. Getting more sophisticated and no doubt soon to hit that same tipping point are the Deepfakes, both visual and audio. For how many years has Big Tech been capturing your face and voice?  “With no barriers to creating AI-synthesized text, audio and video, the potential for misuse in identity theft, financial fraud and tarnish reputations has sparked global alarm,” the Japan Times reported. Read More...