Nick Lafakis’ Post

Follow the money, they say 🤠. We all know that AI is hot 🔥 , but something in the Dealroom's State of AI in 2024 report caught my attention... Many of my VC friends hesitate to invest in the GenAI Application Layer because what is your proprietary IP if you built a ChatGPT app? 🤷♀️ I found this very interesting: • The most competition is in the application layer of GenAI - is it turning into a red ocean? • The majority of investment money and earnings come from computing and the fundamental layer. • Commercially, over 90% of Gen AI profits are generated at the non-application layer. • Major players like Google, Microsoft, Amazon, and Nvidia are hyperscaling their AI investments. This reminds me of the paid media landscape a lot. 90%+ of startup marketing budgets go to Google, Meta, LinkedIn, TikTok, and other social media giants. In other words, the house always wins. We need to differentiate and add value to have a fighting chance. Announcing "We have AI-powered______" no longer secures investment money and traction. We are beyond this. For adoption and investments. Where do you think the most significant opportunities in the AI Space are for startups? How can we stand out? Let's discuss this in the comments. This is going to be an interesting one.

A few men in Silicon Valley and Wall Street think they will determine the future of AI and impose their will on humanity. We strongly disagree. We are a group of ethical and fair-minded UHNW and HNW entrepreneurs and investors. We see the future of AI as including, but not limited to, the following attributes: 1-Any entity (brand, celebrity, author, etc, etc) and individual controls their digital identity, data assets and digital relationships. 2-Each individual controls their data (medical, financial, lifestyle, consumption, location, etc, etc) within their own Private Personal Cloud where their data is safely and continuously stored and replenished. 3-Within their Private Personal Cloud, each individual controls their Private AIs, which generate real-time, continuous actionable insights and recommendations, and act solely to protect, enhance and promote the best interests of each data owner. 4-Individuals can choose to license their attention, intention and relevant insights to brands and entities they trust for fair value and true personalization. 5-Smart, ethical brands will love eliminating the costs and risks of holding the raw, incomplete and expired data of customers. They will love being able to personalize and build trusted customer relationships like never before. A beautiful paradox. 6-Individuals develop and evolve a High Trust Digital Private Network of other individuals and entities from which they get authentic, verifiable reviews, recommendations and services (anonymous or identified). Verifiable Trust and Reputation are everything in the The of Age of AI. While no one can imagine all the breakthrough innovations that will emerge, we are certain of one thing: Original Content Creators will take control of the data assets while Algorithms become commodities. At least in Free America and Free Europe. We call that a future empowered by Creator Empowerment Technology. There will be multiple solutions in each space. Many incompetent and dodgy startups will die quickly so we have Plan A, B, C, D, etc. Ideas are a dime a dozen. If you have a real solution for a startup, are trustworthy, and share our ethics and values, please let’s connect. This is a multi-trillion dollar opportunity.

Shaq, Will.i.am's Early Investments in Google, ChatGPT & AI #TechInnovators 🤝 Follow us on Discord 🔜: https://lnkd.in/gt823Zd3 _ ❇️ Summary: NBA star Shaquille O'Neal and music producer Will.i.am have both become prolific investors in the AI industry. Shaq a backer of Google and other tech unicorns, while Will.i.am has stakes in Open AI and its rivals. They shared their investment stories in Silicon Valley and how they became involved in the AI boom. Shaq, in particular, values the advice of his friend and early backer, Ron Conway. Both celebrities see AI as a game-changer and hope to make a difference with their investments, including helping children with literacy and leveling the playing field. Hashtags: #chatGPT #TechPioneers #InnovationTrailblazers

Let the fun begin. As with all bubbles, we’ll see a lot of failures, but those companies with solid business plans will come out strong. Those startups that use AI to solve a real problem, or to supply the core capabilities they are offering, can still survive. The fun part will be finding out which of those businesses models are strong and which of those startups performed their customer discovery properly. And make no mistake, there will absolutely be amazing applications for AI going forward. https://lnkd.in/g6c9MKW6

Artificial intelligence plunged into the mainstream in 2023 with popular tools like ChatGPT and Dall-E, but 2024 so far has seen buzzy startups facing the stark realities of actually building AI: excessive energy demands, never-ending data dilemmas and expensive infrastructure. With investors plowing billions of dollars into AI startups, companies are now grappling with the most basic question: Can these tools make money?

About this time last year, an amazing technology was just beginning to unfold – artificial intelligence. It held the promise of making our lives easier, more productive and much more efficient. And since then, this new software has gone through the typical cycle of wonder and promise, followed by caution and reflection, and now hesitation, and with good cause. We’ve been through this same cycle before with wonderous inventions that were doted on as technological marvels that would solve so many of our problems. But a new reality is setting in. Discoveries are made and technology matures only to be replaced by an even bigger and better thing, and AI is no exception. The flurry of hype surrounding artificial intelligence has subsided in recent months and the reality of what it can and cannot do is setting in. The myth and the promise of this technology no longer match what’s in front of us and that’s leading to a more cautious and measured approach by many management teams and stakeholders. Investors, users and tech support specialists are now looking at these developments with some serious reservations. And now that the buzz and sensationalism have subsided, reality is setting in and we should expect to see that caution unfold in the financial markets, in company annual forecasts, and in organizational planning. Here’s a great article that looks at where we stand today and where things may land tomorrow. Read on for more. #techevolution #agingtechnology #marketimpact #litrendingtopics “Red Flags - Less than a year into the AI boom and startups are already grappling with what may become an industry reckoning. Take Jasper, a buzzy AI startup that raised $125 million for a valuation of $1.5 billion last year — before laying off staff with a gloomy note from its CEO this summer. Now, in a provocative new story, the Wall Street Journal fleshes out where the cracks are starting to form. Basically, monetizing AI is hard, user interest is leveling off or declining, and running the hardware behind these products is often very expensive — meaning that while the tech does sometimes offer a substantial "wow" factor, its path to a stable business model is looking rockier than ever.”

🚨 TECH UPDATE 🚨 Britain's antitrust watchdog is scrutinizing Google's partnership with AI startup Anthropic, examining its impact on market competition. Stay tuned for more updates on this developing story! 🕵️♂️🤖 #prestigeitconsulting #informationtechnology #technews #Antitrust #Google #AI #Innovation #MarketWatch

It’s another day where we welcome our connections and followers to not be afraid of integrating AI. If you don’t know where to begin. Try the new plug-and-play FREE Llama 3 model. Many have been discussing the reasons as to why it’s available to everyone. But if you think about it, bypassing their industry positioning objectives on the AI landscape, sharing this knowledge is the ultimate win-win. Many developers, startups and affiliate companies are now tweaking and improving the model for the sake of the public and intellectual causes. So let’s introduce introduce a little bit of AI into our lives. It’s not really replacing us soon. Or is it? To discuss it on our next webinar! #llama3 #lyrise #AI #Meta