Startup Ideas Recap of My First Million 💵 Podcast Episode #94 | GTP-3 The Next Big Thing?

Here's a quick summary of the startup ideas Shaan Puri and Sam Par discussed on the July 22, 2020 episode, with time stamps

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10:30 GTP-3 (AI algorithm)

  • Like smarter Child Bot where you can ask it weather, etc but on steroids

  • The guy who was one of the leaders of Y-Combinator, quit Y-Combinator to become CEO of GTP-3

  • Algorithm where you can tell an AI bot to do stuff and it does it

  • For example: “Create a website with the Google logo and search engine”

  • Learnfromanyone.com (website down?): Ask questions to specific teachers in history and get answers from them. They computed all the data and writings from these people to try and answer any questions you might post to them.

  • AI is transformative technology. As AI progresses, it will be the next big “tech shift”. Previous tech shifts was PC, then internet, then smart phones. Now smart phones to AI.

  • Might be very narrow (facial recognition) or more general.

  • GTP-3 will be more general and therefore makes it more exciting (GAI, general artificial intelligence)

  • Sam asks if this technology is good or still basic and overhyped. Shaan replies it’s not good enough but it’s shockingly good.

  • A real venture capitalist started the first half of a blog post on how to run a board meeting, and GTP-3 finished the blog post for them. It was indistinguishable.

19:20 BNI is a business network for trades people to swap customers

  • Making $50M per year

  • ~10,000 chapters. 270,000 members. 12.2M referrals generating over $7.4 billion

  • For each chapter there will be one financial planner, one plumber, etc. Self-employed people.

  • EX: a financial advisor joins a chapter. When/if the finical advisor has a friend or acquaintance that needs a lawyer, the financial advisor will refer them to the lawyer in chapter he’s in.

  • And vice versa: If someone in the chapter knows someone who needs a financial planner, they will refer that person to the financial planner in their chapter.

24:00 Erotic newsletter currently making $6,000/month (Hinged Club)

  • A listener of MFM podcast posted an erotic newsletter two months ago and now is making $6,000/month.

  • Uses pornhub.com as an acquisition channel

  • Sam: Women are absolutely willing to buy this

  • Sam: Largest category on Kindle? Most engaged category

  • Sam: This is like porn for women

  • You sign up and get an erotic story every month

  • Hinged Club - Erotica for black women

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26:50 Employee on-boarding at a company

  • Every company on-boards new employees

  • Every company makes their own process, not really a seamless way to do it

  • “talk to HR guy to get hooked up with this, talk to IT guy to get this…etc”

  • Rippling is trying in a way, but are there other angles?

  • What about the human side: welcome employees, show them the company culture, indoctrination, etc.

  • People really care about the culture, the origin story.

  • Shaan thinks this is a problem. There’s only a few OGs left now, so history may be being lost.

  • As the company grows, it’s hard to get everyone familiar with the history, culture, etc of the company when it was small. How could you retain this?

  • Can you simplify this to a link?

  • More people working from home so even harder to learn culture

  • Maybe similar to an email “drip” campaign for internal companies

30:50 “Show your work”: Document what you’re doing day-to-day like building a company. Post on blogs, videos, Hacker News, etc

  • You will get a halo affect: people will want to work there, etc

  • It’s fun, it’s simple and in your control

  • Don’t need to look for some genius, external ideas

  • You showing how you built your business, improves customer interest. Or maybe a portion of your audience will love you which is really good too.

  • Just write what you are learning and post it on hacker news and some of them might work.