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  • ChatGPT is too powerful and not friendly to startup companies

    LingLingFa.Gavin
    3 replies
    ChatGPT is too powerful and not friendly to startup companies, as they can create limited value based on ChatGPT. Let me share a case study. In the past, there were two very successful companies in the United States: Grammarly, which focuses on automated grammar correction, and Jasper, which was one of the earliest users of ChatGPT and used it for automatic marketing copy generation. Both companies quickly became unicorns. However, with the release of ChatGPT-4, these companies may soon become obsolete and unable to sustain themselves. Their value proposition is too weak, making it difficult for them to monetize their services. In China, there is also a company that provides automatic meeting summaries for Tencent Meetings and distributes follow-up tasks to attendees' schedules. It took a thousand-person team one year to achieve an accuracy rate of only 60%. Now, ChatGPT can achieve 90% accuracy, thereby delivering a significant blow. While ChatGPT is incredibly powerful, it is not beneficial for startup companies. On the contrary, it benefits existing players in various industries. Players who already have use cases can easily integrate ChatGPT to add artificial intelligence functionalities to their products. For example, in HR departments, there are usually a few individuals dedicated to answering employee benefit questions. Today, all of these people can be replaced by ChatGPT.

    Replies

    Ivan Ralic
    Collabwriting
    Collabwriting
    I mean, if you are a unicorn and someone can destroy you this fast you are doing something wrong. I was very surprised about Grammarly being so slow to adapt. Both companies have great AI people working in there, so not being able to predict something like this is extremely strange. ChatGPT was available years before it actually launched. On the other hand, Microsoft is just getting started...
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    Austin Nguyen | Afforai
    I mean the Luddites were also mad when the mechanized looms came. Not trying to say that there is no suffering when old companies and start-up gets replaced by new technology, but that is just the fact of the free market. Technology comes -> obsolete companies get replaced -> new competition arrives -> technology becomes available for everyone -> more opportunity emerges