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The framework for building AI startups from a product design genius
Manage episode 456205749 series 3009205
Join me as I chat with Mike Hudack, CEO of Sling Money, as we deep dive into AI startup strategy by discussing frameworks for building AI companies, product development approaches, and go-to-market strategies. The conversation covers practical advice for entrepreneurs considering AI ventures, from choosing between B2B and B2C models to pricing strategies and competition analysis. Hudack shares insights from his experience at Facebook and current venture Sling Money.
Timestamps:
00:00 - Intro
02:12 - AI agent framework and startup ideas
08:19 - Discussion of successful AI companies
16:20 - B2B vs B2C strategy
19:28 - Product development philosophy
25:20 - How to think about Competitors
28:40 - Go-to-market strategies
33:46 - Pricing and monetization discussion
39:16 - Mark Zuckerberg's Perspective on AI
Key Points:
• Framework for AI agents: single clear action, instant feedback, bounded decisions, zero friction
• Three promising AI companies discussed: Greenlight (fin-crime), Granola (note-taking), Gradient Labs (customer service)
• B2C vs B2B strategy: B2C has higher potential but higher risk, B2B offers more predictable outcomes
• Product development approach: focus on solving genuine pain points and building with meaning
1) On picking AI startup ideas:
Look for repetitive, time-consuming tasks that:
• Have clear actions
• Provide instant feedback
• Make bounded decisions
• Create zero friction
Examples: Flight booking, restaurant reservations, scheduling
2) The most promising AI companies right now:
• Green Lite - Automating financial compliance
• Granola - AI-powered collaborative note-taking
• GradientLabs - Next-gen customer service
• Domu - AI debt collection with empathy
All solving specific, manual problems with tight feedback loops.
3) Framework for choosing what to build:
Run a "regret minimization" exercise:
• Imagine yourself 5-10 years in the future
• Consider all possible outcomes
• Pick something meaningful you'd be proud to work on
• Must be excited to wake up for it every day
4) On B2B vs B2C products:
B2B:
• Easier to validate
• Clear path to revenue
• Lower failure rate
• Smaller outcomes
B2C:
• Bigger potential upside
• Harder to get right
• Need to catch lightning
• More glory (if it works)
5) On pricing AI products:
Formula:
(Human labor cost saved + Emotional damage prevented) × (20-50% discount) = Your price
Pro tip: You CAN raise prices later if you build something people truly love.
6) Go-to-market strategy for AI products:
• Build in public
• Create early waitlists
• Find your core believers
• Let them help shape the product
• Focus on native content for your audience's platform
7) On competition:
Don't be afraid to copy primitives (basic features everyone needs)
BUT:
• Stay true to your vision
• Keep a mental tab on competitors
• Don't get sucked into being reactive
• Maintain consistent narrative
Most important lesson: Build something YOU deeply care about. The most successful products come from genuine passion, not just market opportunity.
Notable Quotes:
"We don't make services to make money, we make money to make better services." - Mike Hudack (citing Walt Disney/Facebook)
"If you build a thing which is beautiful and people love and has a place in their lives, you can charge more for it later." - Mike Hudack
Want more free ideas? I collect the best ideas from the pod and give them to you for free in a database. Most of them cost $0 to start (my fav)
Get access: https://www.gregisenberg.com/30startupideas
LCA helps Fortune 500s and fast-growing startups build their future - from Warner Music to Fortnite to Dropbox. We turn 'what if' into reality with AI, apps, and next-gen products https://latecheckout.agency/
BoringAds — ads agency that will build you profitable ad campaigns http://boringads.com/
BoringMarketing — SEO agency and tools to get your organic customers http://boringmarketing.com/
Startup Empire - a membership for builders who want to build cash-flowing businesses https://www.startupempire.co/
FIND ME ON SOCIAL
X/Twitter: https://twitter.com/gregisenberg
Instagram: https://instagram.com/gregisenberg/
LinkedIn: https://www.linkedin.com/in/gisenberg/
FIND MIKE ON SOCIAL
Mike’s Website: https://hudack.com/
X/Twitter: https://x.com/mhudack
LinkedIn: https://www.linkedin.com/in/mhudack/
Sling Money: https://sling.money/
184 επεισόδια
Manage episode 456205749 series 3009205
Join me as I chat with Mike Hudack, CEO of Sling Money, as we deep dive into AI startup strategy by discussing frameworks for building AI companies, product development approaches, and go-to-market strategies. The conversation covers practical advice for entrepreneurs considering AI ventures, from choosing between B2B and B2C models to pricing strategies and competition analysis. Hudack shares insights from his experience at Facebook and current venture Sling Money.
Timestamps:
00:00 - Intro
02:12 - AI agent framework and startup ideas
08:19 - Discussion of successful AI companies
16:20 - B2B vs B2C strategy
19:28 - Product development philosophy
25:20 - How to think about Competitors
28:40 - Go-to-market strategies
33:46 - Pricing and monetization discussion
39:16 - Mark Zuckerberg's Perspective on AI
Key Points:
• Framework for AI agents: single clear action, instant feedback, bounded decisions, zero friction
• Three promising AI companies discussed: Greenlight (fin-crime), Granola (note-taking), Gradient Labs (customer service)
• B2C vs B2B strategy: B2C has higher potential but higher risk, B2B offers more predictable outcomes
• Product development approach: focus on solving genuine pain points and building with meaning
1) On picking AI startup ideas:
Look for repetitive, time-consuming tasks that:
• Have clear actions
• Provide instant feedback
• Make bounded decisions
• Create zero friction
Examples: Flight booking, restaurant reservations, scheduling
2) The most promising AI companies right now:
• Green Lite - Automating financial compliance
• Granola - AI-powered collaborative note-taking
• GradientLabs - Next-gen customer service
• Domu - AI debt collection with empathy
All solving specific, manual problems with tight feedback loops.
3) Framework for choosing what to build:
Run a "regret minimization" exercise:
• Imagine yourself 5-10 years in the future
• Consider all possible outcomes
• Pick something meaningful you'd be proud to work on
• Must be excited to wake up for it every day
4) On B2B vs B2C products:
B2B:
• Easier to validate
• Clear path to revenue
• Lower failure rate
• Smaller outcomes
B2C:
• Bigger potential upside
• Harder to get right
• Need to catch lightning
• More glory (if it works)
5) On pricing AI products:
Formula:
(Human labor cost saved + Emotional damage prevented) × (20-50% discount) = Your price
Pro tip: You CAN raise prices later if you build something people truly love.
6) Go-to-market strategy for AI products:
• Build in public
• Create early waitlists
• Find your core believers
• Let them help shape the product
• Focus on native content for your audience's platform
7) On competition:
Don't be afraid to copy primitives (basic features everyone needs)
BUT:
• Stay true to your vision
• Keep a mental tab on competitors
• Don't get sucked into being reactive
• Maintain consistent narrative
Most important lesson: Build something YOU deeply care about. The most successful products come from genuine passion, not just market opportunity.
Notable Quotes:
"We don't make services to make money, we make money to make better services." - Mike Hudack (citing Walt Disney/Facebook)
"If you build a thing which is beautiful and people love and has a place in their lives, you can charge more for it later." - Mike Hudack
Want more free ideas? I collect the best ideas from the pod and give them to you for free in a database. Most of them cost $0 to start (my fav)
Get access: https://www.gregisenberg.com/30startupideas
LCA helps Fortune 500s and fast-growing startups build their future - from Warner Music to Fortnite to Dropbox. We turn 'what if' into reality with AI, apps, and next-gen products https://latecheckout.agency/
BoringAds — ads agency that will build you profitable ad campaigns http://boringads.com/
BoringMarketing — SEO agency and tools to get your organic customers http://boringmarketing.com/
Startup Empire - a membership for builders who want to build cash-flowing businesses https://www.startupempire.co/
FIND ME ON SOCIAL
X/Twitter: https://twitter.com/gregisenberg
Instagram: https://instagram.com/gregisenberg/
LinkedIn: https://www.linkedin.com/in/gisenberg/
FIND MIKE ON SOCIAL
Mike’s Website: https://hudack.com/
X/Twitter: https://x.com/mhudack
LinkedIn: https://www.linkedin.com/in/mhudack/
Sling Money: https://sling.money/
184 επεισόδια
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