Investors Bet Billions on AI Startups with No Name, Customers, or Business Plan - Genius or Insanity?

Investors are pouring billions of dollars into AI startups even if the businesses have no name, customers, or business plan. Startups specializing in generative AI systems that can create human-like conversation, imagery, and computer code have become popular, and investors are betting big on them.

Even though most of Silicon Valley's venture capital ecosystem is in the doldrums, AI startups are still getting major investments. The investors hope that generative AI will change business activities from movie production to customer service to grocery delivery. However, there's a problem: it's not clear how these startups will make a profit.

As always, the sudden influx of capital encourages AI researchers to start their own companies, adding to the competition. But as Matt Turck, an investor specializing in AI at FirstMark, says, "As in prior hype cycles, a lot of this will not end well. The market cannot sustain, all of a sudden, a million different companies with half-baked ideas. It feels like the gold rush."

Rapid Rundown

• 💼 Investors bet big on AI startups without clear business plans, hoping generative AI will revolutionize industries.

• 🚨 However, market saturation and lack of profitability raise concerns about the sustainability of the AI startup hype cycle.

Bing Brings the Heat with AI-Generated Photos and ChatGPT-4: No Waitlist Needed!

Microsoft has just unleashed its AI power on Bing and Edge. You can now chat with ChatGPT-4, the smartest conversational agent ever, for free on Bing and Edge. No more waitlist!

But that’s not all. You can also create stunning AI-generated photos with Bing Image Creator. You can ask Bing to draw anything you want, in any language you want. And you can get more visual answers from Bing with charts and graphs. Plus, developers and third parties can use Bing’s platform to help you get things done.

Bing's chat feature has been a hit with users, with over half a billion chats in just 90 days. From finding travel destinations for pollen sufferers to documenting global volcanoes, Bing's got you. They've even spawned 200 million images with their Image Creator tool. With over 100 million daily users, Bing's mobile app is killing it. Who said Google had it all?

Rapid Rundown

• 🤖 Chat with ChatGPT-4 on Bing and Edge for free. No more waitlist!

  📷 Create stunning AI-generated photos with Bing Image Creator. Get visual answers with charts and graphs.

How Lululemon Turned the "Era of Fake Products" into a Marketing Opportunity: Swap Your Dupes for the Real Thing

Lululemon is taking on TikTok’s influencer dupe trend in a unique way: by embracing it. The company is holding swap events in different influencer hotspots. To get your hands on a genuine pair of Lululemon leggings, all you need to do is bring in your fake pair, and voila!

While some might think that owning a knockoff is cool and a "flex," Lulu is betting that knockoffs can raise the profile of the real thing. However, the strategy might not work in the "Era of Fake Products" where being spotted with a knockoff is no longer embarrassing, it's actually kinda cool.

But let's not forget that while dupes can be of high quality, many are less durable than the real deal and contribute to the worst parts of fast fashion. So, if you're a dupe lover, remember that you might not be saving money in the long run, but hey, at least you'll be able to flex in your trendy leggings.

Rapid Rundown

• 📰 Lululemon holds swap events for fake Align Pants to combat the TikTok dupe trend.

• 💡 Lululemon is betting that knockoffs can raise the profile of the real thing.

Tools & Apps

Twinr 3.0 -- Convert any website to mobile apps in minutes

Metering.ai -- Automated metering and billing for usage-based pricing

Antimetal -- Use AI to save up to 75% on your AWS bill

Per Diem -- Mobile ordering apps for restaurants and cafes

Cubiloon -- Say goodbye to tool overload with your personal COO

CoworkMaps -- A collaborative list of cool places to work around you

KomodoDecks -- Boost team productivity with unlimited screen recording & SOPs

Articles & Resources

Gen Z is the Hustle Generation — "It's very fluid, it's very freeing. You're not tied to a place; you're not tied to a cubicle. You can do this on the moon if you have WiFi," she said.

There Is No A.I. — There are ways of controlling the new technology - but first, we have to stop mythologizing it.

How 1970s California created the modern world — California played a crucial role in shaping the modern world.

Leveraging New Technologies: 3 Tips for Product People — Learn how to take advantage of new technologies and stay ahead of competitors.

You Probably Shouldn’t Work at a Startup — Working for a startup may not be as financially or emotionally rewarding as you think.