Don't forget to jargon check your AI
This week on Equity, Alex was joined by Nathan Baschez, the CEO and founder of Lex, an AI-infused online writing tool that recently raised capital. Together, we're talking through a few key topics that have been top of mind in recent months:
How many AI-powered, or AI-using writing tools can the market support?
How far into the generative AI moment we are, and how much we should anticipate in the form of technology improvements?
And then we discussed the nuts and bolts aspects of pricing an AI-powered service and other financial matters related to building a service today that leans on artificial intelligence.
The last question is far from idle. Recall that back in 2020 there was conversation amongst venture players about the economics of AI startups, with the perspective at the time indicating that while the cohort might have more difficult early economics, that their numbers (gross margins, really) would improve over time. But what about when a startup is using, say, an OpenAI API for its core AI work? Will similar efficiencies bloom?
Equity is back into its regular groove now that Disrupt is behind us — more to come!
And before we go: Check out the UpFlip Podcast where you get to unravel how great businesses are built, how they are run behind the scenes and how their success can be replicated. We think you'll love episode 79 where they featured this guest who transformed his passion for gardening into a $7.3 million-a-year venture. You can find the podcast on Youtube or where ever you listen to podcasts.
For episode transcripts and more, head to Equity’s Simplecast website.
Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more!
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
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(TWTR SPC) Every.to And Mac Studio
We talked to Nathan Baschez and Dan Shipper, the founders of the media startup Every.to. We talked to them about the realities of being two years in as a modern, from the ground up media company, the shifting landscape in the “creator economy” (remember that?) And a lot about Substack and its business model and philosophy. Around the hour mark, Chris and I have a lengthy conversation about the Mac Studio, my purchasing of one, my cancelling of my order for a Studio Display. And also, Chris has a very interesting 8 dimensional chess theory about where Apple is headed as a company.
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#219 – How to Make Your Business Model a Win-Win-Win - with Dan Shipper and Nathan Baschez of Every
My guests today have a really exciting business model and strategy that I want to dig into. Dan Shipper (@danshipper) and Nathan Baschez (@nbashaw) are the founders of Every, a bundle of business focused newsletters. By structuring Every as a "collective," the writers are happier, the readers are getting better content, and Every is profitable. I want to find out how they get readers, how they get writers, and how "bundling" can be strategic for indie hackers.
Subscribe to Every: https://every.to/
Follow Nathan on Twitter: https://twitter.com/nbashaw
Follow Dan on Twitter: https://twitter.com/danshipper
Reverse Interview: Acquired Strategy, with Nathan Baschez of Divinations (& former Gimlet Media + Substack)
“There’s no real secret to making the stuff we make. It’s not something where you have to be crazy talented. The thing is, you just spend a little bit longer on it than is reasonable. Most people would give up, and then you just keep going on it for three more hours making it better, doing more research, whatever the thing is that makes it better. Wherever most people would say, yea, that’s good enough, you just keep going for a little while longer. Not an eternity longer, just a bit longer.” -Nathan, quoting Alex Blumberg, Gimlet Media
Ben and David agree to have the tables turned in a great interview by friend and longtime Acquired supporter Nathan Baschez, who was formerly the Head of Product at both Gimlet Media and Substack, and now writes the excellent Divinations newsletter on tech and business strategy.
This episode originally came about because one of Nathan’s first articles at Divinations kindly focused on Ben and Acquired, which you can read in full here: https://divinations.substack.com/p/ben-gilbert-on-how-acquired-launched
The core Divinations newsletter is free for everyone, but if you’d like special access to any of their paywalled content, Nathan shared this discount link for all Acquired LPs: https://divinations.substack.com/acquired . Check it out!
Sponsors:
Sierra: https://bit.ly/acquiredsierra
Be sure to follow the Acquired Podcast:
Acquired.fm
@AcquiredFM
Show Links:
Nathan Baschez
The Morning Show (AppleTV)
Thinking Fast and Slow Summary
Willpower Summary
Marshmallow Experiment
How I Built This
Startup
Serial
Invest Like The Best
The No-Code Movement
Diggnation
Joe Rogan Show