Artificial Intelligence Podcast: ChatGPT, Claude, Midjourney and all other AI Tools

AI Acceleration with Joseph Konijn

• Jonathan Green : Artificial Intelligence Expert and Author of ChatGPT Profits • Episode 332

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Welcome to the Artificial Intelligence Podcast with Jonathan Green! In this episode, we dive into the dynamic world of AI accelerators with our special guest, Joseph Konijn, an expert in the field of startup acceleration and global expansion.

Joseph provides a thorough understanding of what accelerators entail, shedding light on the difference between acceleration and incubation programs. He emphasizes the current trend where accelerators are adding 'AI' to their offerings without necessarily incorporating true AI expertise. Joseph shares his candid insights on why 90-95% of accelerators might not provide the value startups seek, calling for a more genuine and tailored approach.

Notable Quotes:

  • "VC money is like heroin... it's a Ponzi scheme." - [Joseph Konijn] 
  • "Investing is all about saying no to companies." - [Joseph Konijn] 
  • "The second it feels disingenuous, AI-written content turns off investors." - [Joseph Konijn] 

Joseph discusses the various models of accelerators, including those driven by VCs, private companies, and government programs. He introduces the innovative 'Build Accelerator' model, which focuses on delivering done-for-you solutions, allowing startups to concentrate on their core competencies rather than ancillary tasks.

Connect with Joseph:
LinkedIn: https://www.linkedin.com/in/yossik/
Website: https://www.investable.solutions/

Connect with Jonathan Green

AI acceleration with today's special guest, Joseph Kne, Today's episode is brought to you by the bestseller Chat, GPT Profits. This book is the Missing Instruction Manual to get you up and running with chat g bt in a matter of minutes as a special gift. You can get it absolutely free@artificialintelligencepod.com slash gift, or at the link right below this episode. Make sure to grab your copy before it goes back up to full price. Are you tired of dealing with your boss? Do you feel underpaid and underappreciated? If you wanna make it online, fire your boss and start living your retirement dreams now. Then you can come to the right place. Welcome to the Artificial Intelligence Podcast. You will learn how to use artificial intelligence to open new revenue streams and make money while you sleep. Presented live from a tropical island in the South Pacific by bestselling author Jonathan Green. Now here's your host. I'm really excited to have you here, Joseph, because you've written some really interesting stuff about accelerators and I think a lot of people outside that world don't even realize. There are so many acceleration programs out there, and they're all different from each other. There's really small ones where you live in the person's house and really big ones that have a lot of different connections, and I'm sure there are a lot of pros and cons and for people looking at. The outside world, it seems like whenever there's a trend. There becomes a bunch of those systems in the accelerator. So when everyone was thinking that it was gonna be 3D glasses or the meta universe, suddenly there's a bunch of those. And then when NFTs is everything, every single product launch has crypto or blockchain or something, and they all cycle through the accelerators. And it seems like that's what's happening with AI right now. Suddenly every single program, whether they have a or not, has added AI to their name in the accelerators. So I'd just love to start with your perspective on that. First of all, I want to thank you for having me here. And I'm happy that someone reads my article articles. That's great. So yeah. The word acceleration has a lot of meanings to different people. It's a catchall phrase for programs for startups. It could be acceleration, it could be incubation. No one really understands what it means. They like to use that word for any type of program that somehow helps startups. But first of all, from my perspective, an accelerator is someone who helps a company, a startup, go from point A to point B faster than they would by themselves. What that point A and what that point B is really dependent on the company and the program. There are all these types of accelerators. Some of them are very famous, like Y Combinator plug and play, all these these programs that essentially mostly focus on teaching. If I look at most of accelerators around the world, they focus on teaching entrepreneurs. Sometimes it's how to. Validate their business. Sometimes it's how to raise funds. Sometimes it's how to scale up. But they mostly teach the good ones also have a good network of business connections, investors, et cetera, that they can connect to. So the alumni or the companies in the cohort are able to tap into that network and go in, I'd say, and this is someone who's in the industry, and I'm shooting myself in the leg here, that about 90, if not 95% of accelerators are a waste of time for companies. So in order to make themselves be relevant, they have to like be less investors. A lot of times they have to follow the trends. They don't lead trends. They follow trends because they need companies to come in and say, I want to be part of your program. Someone has to pay for those companies to come in. So that's a business model, right? They have, someone has to come in and in order to get companies to come in, they need to promise them that at the other side of the accelerator, they'll get most likely funding. Funding meets means meeting investors, right? So in order to get both the companies coming in and the investors interested, you have to. Trendy. You have to say the right words. If it's AI or crypto, or meta Web3, whatever that word of the day is, you have to say it. Does that mean that they actually do anything in ai? Probably not. There are some that definitely will, like I said it's a big space. The top five to 10% are doing an amazing job and are really helping in doing stuff. But the other 90% are not. And most likely they'll just add another mentor that says, I have an AI company, or I understand an ai, or I know something in ai. Everyone will tell them what they're doing wrong and they have an AI program. So for someone who's starting a startup. What's the decision making process like to decide, first of all, even if they need an accelerator?'cause it seems like a lot of the things you learn in a scale an accelerator, are single use skills. Like you learn how to raise money, which you're only gonna do once, or you learn how to design a business plan, which you're only gonna do the one time. So a lot of the things you learn to do are single use tasks. So instead of spending time. Improving your code or growing the software, getting more customers, you're learning these skills that are part of the game.'cause it seems like there really is an art to pitching and fundraising. A lot of fundraising from what I've seen on the outside is do they like you? Is your pitch tech organ deck organized in the way you want? Does it have the right type of information? And if it's done the right way, that really works. It almost seems like that stuff is more important for the first phase. Due diligence is where you actually look at the company and see if it does what you want. But the slides is like the cover of the book where it doesn't matter if the inside of the book is good if no one likes it, right? So if you don't have good slides, you don't have a good presentation, or you. Something goes wrong on the day, you lose that connection. So how much of investing really is about that first meeting, the personality fit, if they like your style? I I'll say it like this, investing is all about saying no to companies. It's very easy to say yes. So investors look for any reason to say no. The barrier for no is very low. If you fail one of the tests that they have, one of the red flags, they'll just say no. There are a thousand like you in the end. Every investor invest about in about 1% of the companies they meet. So they have to get them, off the list, off the pipeline. I saw them. I found the reason not to invest in them next. The companies that actually do get the investment will get it either because they've been able to surpass all the hurdles along the way, and the pitch deck is the first hurdle. Or because they came from the side based on personal connections. And then the pitch deck is not interesting because they go to the top of the list. Someone knows 'em, someone knows someone who knows them. They get a personal recommendation, they get a different type of process. The run of the mill startup, but the regular startup, the one that doesn't have a connection, that is not a serial entrepreneur, that does not know the VCs personally, et cetera, they need to go through a process. And that first process is opening the door, and the door opening is done through the deck. That's your communication. That's like a CV when you send to a workplace, if your CV does not look good, then it's very easy to disqualify you. It's even done by AI today. Your CV doesn't have the right words, it doesn't have the right picture. Whatever it is, there are red flags there. No one's really interested. No one wants to go in depth at this level, so you're disqualified automatically. You might have an amazing technology, you might have lifesaving technology, but because you miscommunicated it you're not on track to meet that investor. On the other side, companies are also, when they raise funds, it's also a numbers game. So they have to pitch to a hundred, 200 sometimes more investors in order to get the one investor actually understands them even regardless of the communication problems and is interested in what they offer. It's most likely that. Can look beyond just a nice deck going forward. But again, if you want to get to, if you wanna play the numbers, you need to get, it's like a pyramid, right? It's like a funnel, hundreds of investors in the beginning, you send them your pitch deck or you get intros to cold, warm intros, whatever it is you wanna get to the next product where they're interested. So those who understand the. Or the industry or the need will be interested even if your deck is not amazing, those who are not that certain or generic or give the associates the the option to filled, incoming deals will be. Subject to will approve you subject to how your deck looks. And not just visuals, but in terms of the messaging it gives in terms of conveying what it is that you do in terms of showing that you're a serious person. Because like when you go to a restaurant, if they give you the first meal and it looks like crap, you probably won't eat there and you'll never come back again. But if it's a nice looking meal and you take a picture and you put it on Instagram, et cetera, then it creates this interest where you say, I, you know what? I wanna check more. I wanna see more. And then you go to the next level. And beyond that, the deck is no longer interesting. You will probably have to pitch it several times, but you pass that point. Beyond that point usually comes the real issues. Do you have a business case? Do you have afin a usage case for your technology? Do you know how to execute all those things that are important? But you won't get to that stage if you don't surpass the first hurdle. That's it. Most goal, most accelerators, the promises you go through. Our program will teach you how to make your deck, how to strategize your business, how to make a business plan. We'll teach you all of these skills that you need for the presentation, for going through d diligence in exchange. Do all of them take a percentage of the company? Is that the business model for all accelerators? There are different business models for different accelerators. It really depends who runs them, right? There are private accelerators who are financed by a company, for example, who says, okay, I will take, I will put money into an accelerator. I'll put, let's say a million dollars a year. Have the staff to offices. Get a bit of equity from the incoming companies, and hopefully within a few years I'll start making money out of this. Those mostly fail just to be told. Those mostly fail because it's trying to invest without actually investing and. Pick not necessarily the best companies, 'cause you only pick the ones who actually come to your accelerator. So you're picking from a specific crop of companies that might not necessarily be the best companies you want to invest in. So the next type of company of accelerators, actually accelerators run by VCs that used to be very popular for them. Investing in this process saves the money later on, on actually the selection process on the due diligence because. You get for a relatively low ticket price, you get to know those companies in depth. So once the companies knows there's a VC behind the VC behind this they're more likely to sign up. Once they sign up they'll be vetted and then you get to work with them. And I can't tell you how many times I've worked with companies who look amazing. When I first met them in the first meeting, even in the second meeting, I thought, this is like a killer team. This is like a killer pro product, et cetera. And then we started working with them and we discovered it's bs. They don't have anything there. The company does not know how to execute. They just sell a good pitch. There's nothing really behind it. So for that if I was an investor and I would go through just a due diligence of, is there a pitch? Okay, is there a usage case here? Maybe yes, no. Talk to people and say, this looks like a good team and invest, I would lose a lot of money. Or because I spent three months with 'em and I understood the company in depth, then I knew, even though everything here looks fine. This is not the team to execute. And I wouldn't invest in them if I had like a gazillion dollars. They're not the team. Also the reverse. I've met companies who were horrible at pitching and were not able to communicate and I thought there, there's no real relevance to their product. And I started working with them and with just a few tweaks, you suddenly discover there's gold mine, there's a goldmine there, and they've become amazing companies. So this time to work with'em gives you an insight into the company itself, which is more important than anything because if you ask most investors, what do you invest in, they'll answer you. The team, the rest is interchangeable, but the team is the most important part. So that way you get to know how the team, so for VCs to set up an accelerator gives 'em this option of knowing better and who they're investing in actually. After a while they'll know how to pick the best of the cohort they're in that they got. Then you have government programs for government programs, and this is where my company falls in mostly government programs or programs run by big organizations. These are. Usually have a specific niche if you wanna be medical, bio, ai, whatever, and they're trying to generate activity in that field. So this is the way to put in money to put, to give help without actually investing.'cause most governments do not invest directly. They give grants, they give resources, but they will not invest directly. So this is their way. Of giving their support to the companies and hoping that more companies will make it past the various values of death that occur during a startup's life. And then they take professionals from the outside. To help run those programs and those professionals. Again, this is my company's business model. We just get paid to run the program. We don't take equity, we don't invest or anything. Although we do have the option if we want to but we just give professional services to those companies in one form or another. For me, this is, I think, the best model because. The companies get a lot out of it. They don't give out almost anything. This is like free money. And usually these programs enable them to continue working on their product in parallel. They're not just in the program like the whole team. They're not, they're obligated, but they're not all in, in terms of their set. They. I'm finding a hard way of explaining this, but it gives them an ability to continue the development. You get the CEO working, you get the CMO, but working maybe on the on the accelerator, but the rest of the team continues working and doing. Also governments support, then there's a lot of ability to bring in outside networks to, in the later stages, if it's meeting with meetings with the, I don't know, I'll take medical, which is where we specialize. It's easier for me to bring in hospitals, universities medical device distributors, et cetera, because they know we come from an unbiased place where the government is actually the part that wants to support. They will be more inclined to help also mentors, et cetera. That was a long answer for a short question. That was a great answer. One of the other things I've noticed from the outside looking in is that sometimes taking outside investment kind of makes things worse. So I see the thing where someone like, you're bootstrapping so you're a hundred percent focused, and then suddenly you have a massive investment and it's what am I gonna go shopping for? Let's get ping pong tables and fair trade coffee and electric bikes, and there's all these investments that are all around company culture. Which are change the direction and it's the same thing I see happening for entrepreneurs. A huge dip in entrepreneurship happens when you make enough money to quit your full-time job. Suddenly you go from two hours a day to eight hours a day and you get less done and more time.'cause you say to yourself, I have so much runway and you, it's a hump that everyone has to go through. That's why a lot of people quit their jobs then go back three months later because they didn't break through that particular valley of death. And I see that. Happening to a lot of companies, suddenly they have too much money, which means they're not making decisions as lean. And maybe another way of saying this is that it's very different to spend your own money than to spend someone else's money. Like it feels really different. Definitely it's different. There's also and this, I've been vocal about this and I think I've made some I enemies, but people who don't, like I've been saying this. VC money is like heroin. It's VCs are actually a Ponzi scheme. That's what I think. Not, again, not all of them. I have to put an asterisk about everything I say. There are good people in the VC world. There're amazing companies that invest and do a lot of good work for those companies. But a majority of VCs work on a model that is a Ponzi scheme. What does that mean? They invest in a company at, let's say, seed stage. So they have a valuation of, I'm just throwing a number here, a million dollar for the company. Now a year has passed. They have their investors, their LPs coming in and saying, okay, in the past year, how much of the companies you've invested in improved? What is the what is the size of your portfolio in terms of valuations? If no reevaluation of the portfolio has been made, then it's static. That's, say the company that you invested in last year that was worth an valuation of a million dollars is still worth a million dollars. How do you get a valuation up? You get someone else, or yourself and someone else to reinvest in the company at a higher valuation. So a year has passed. You say, this company has made a lot of progress. Now I think their valuation is $5 million. I invest in a valuation of 5 million.$500,000 I gave them before. Now I'm giving them two and a half million. Again, I'm just throwing numbers. They don't really make sense in terms of the math. Two and a half million dollars and their valuation went up to 5 million. And look at my portfolio. It's bigger. I've made amazing progress in that year. I've tripled the size of my portfolio by investing. And this they do over and over again until the company is big enough that they can offload it. To someone else. The end of the line of the Ponzi scheme. It might be an IPO, and then you offload it to the public. The biggest dumb customer available. Or it could be some big corporation that has money to spend in order to get some tax cuts. So they spend a lot of money in order to get the, that technology or that startup. And mostly I don't know if you know the statistics, I don't know the exact number, but. More than 60, if not 70% of m And as in that sense failed. So a lot of startups are bought out. There's a great, there's a lot of hype, there's a great article in the newspaper. Everyone is happy, the entrepreneurs, the founding the founders hopefully got money. The investors definitely got money. And after a couple of years that business unit from the corporation is closed out and the technology is thrown in the trash, this is the VC model, but in order to convince the startup that it needs to raise more money, because the VC needs to raise valuation, they need to spend money. So if you give a, a company a million dollars and that company is good enough and uses that money efficiently and has a runway of three years. And God forbid, becomes profitable and doesn't need to raise more money, you're screwed. You're screwed because now you have to wait five more years until your, the valuation is high enough that you can sell them and get those off your books. No, you don't want them to be efficient. You want 'em to spend money, you want 'em to buy stupid things. You want 'em to hire too many people. You want 'em to need more money so they can raise. 5 million, 10 million, 20 million in the next round and raise their valuation and then LPs will be happy. So it seems like the big win is when you do an IPO and then it's just strangers left holding the bag. It's musical chairs where the music stops and you wanna make sure it's all people you don't know holding the bag or stuck.'cause I see a lot of companies, I'm very aware of this guy watch I AI companies, especially so many AI companies last year and you put AI in quotes, they changed their stock ticker to AI and did an IPO usually via spac and it feels every time there's a spac, it crashes in value 99% within one week. So they do this launch. Everyone goes, oh, a new AI company, AI's hot. I jump in on it. Turns out the company has no AI elements. They just added AI to the end of the name and. You're left with a massive loss. And is that kind of the end game for most of these? I've seen companies even I think Uber did 80 raises before they iPod and then of course the value, it's really high on that first day. So the owners, the original people only care about the first day value, right? Because that's when they're selling off all their stock or all of their stuff to the world. Is that correct? There, there's usually a lock in period where they have to maintain their stock. The initial people. Who bought the stock at the IPO are not allowed to offload immediately. This is why, by the way, why SPAC is so loved, because with the spac, you can offload the next day with a regular IPO you have a lock in period. It could be six months, it could be a year where you're not allowed to sell those initial offered stocks, but. Even within that means you just need to con maintain the hype for a certain period of time before you can offload it and get someone else in. And Uber just, led money for years and I think they actually had their first quarter of break even only last year or something like that, or this year. And no one is actually sure that their business model makes sense at all. They were maintained by the hype because at that time the word was, gig economy or collaborative economy or whatever name you wanted to put on that looks good and everyone believed in it. In the end, even the gig economy turned out to be just a platform for small businesses. It's not, if you're not a small business, you will not survive. On, on a gig economy, if you don't do Uber as your main business, you won't make money there. If you're not don't run five Airbnb places. You won't make money on Airbnb et cetera. You have to be a business, and that has to be your business. So they're just, everyone is just a platform for those small businesses. So the last topic I want to bring up is going back to the idea of teaching on accelerators. So I get a massive amount of inbound communication because of this podcast and because of my work in the fractional space, I get so many messages in mails, inbounds, and I'm sure you do too. And they're always, I'm structured as we will teach you how to do this. And there's two categories. There's done for you, like a service for me. And then there's the, we'll teach you how to do this. And especially, I get so many mean messages about the podcast, oh, you're editing your video editor's trash, we can do a better job. And I'm like we. Let's not start by hurting my feeling. A lot of them, a lot of them start mean like a really large percentage of it. And a lot of people constantly are telling me how to get, like everyone wants to sell lead generation. That seems like the whole world of LinkedIn. And there's two categories which is we'll teach you how to do it and we'll do it for you. And the problem with teach you how to do it is I'm. Already busy delivering from my clients. So if I, there's this balance of the time I spend generating new clients versus time I spend working with my existing clients and there's only so much time available. So done for you options. While more expensive or services seem a lot more valuable to me, I don't really need to learn how to edit YouTube videos when someone else can do it for me. I can spend more time making YouTube videos that grows the company in the same way. So I'm very interested in your accelerator model, which focuses a lot more on. We're just gonna do it for you so you can focus on the thing that you're really good at. You can focus on creating your content, building your software, launching your platform, adding new features. As a user, I like platforms, add new features. I'm like, keep adding the features. Let's focus on that. That has me excited. So can you explain your approach as the done for you versus the teach you model and why you think that is should be the future of accelerators? Definitely. So we call it the Build accelerator. Where, I'll give a bit of a background because I've been mentoring in many accelerators from Microsoft to space accelerators for the past 10 years, I think it is. And whenever I would come in, I would come in as a mentor. I would talk to the company and give them my feedback. Sometimes, it was an ongoing thing, but then I would tell them what to do. I hope that they do it. And usually when they came back, I had more comments and they would come back and I had more comments. Nothing would ever be exactly the same. And I felt that it was a real waste of time because if I had done it, or if I had taken it to someone who knows how to do this would've been done within a day. And then they could have gone. And you let's take the example of a pitch deck, which is just, what do you write on a pitch deck? How do you visualize it and then actually creating it? You can do that within a few days. But if you work on teaching people how to create pitch decks, then it takes three months and during this whole period of accelerate, that's what they do. Now, they, like you said, this is something they will use once, twice. Every round, they'll need a different pitch deck that has a different concept, different information, et cetera. So they will have to redo it. Why does a CEO of a startup need to know how to create a pitch? He needs to know how to tell the story. You have to work with him on that. He needs to know why they what the need is. He needs to know what the usage case is. He needs to know what the business case is, but he doesn't need to. To build a financial model. He doesn't have to, the same way he doesn't build the product. Usually you have a, an engineer to do that, right? So the same thing. Let's get at that off his table. Let's let him focus on what is important. Let's get him focused on meeting with investors, on meeting with with business partners, whoever he or she needs to meet with in order to get to the next level. Our approaches, and this is what we've been doing mostly in, in South Korea to help South Korean companies go global. Was that, forget wasting your time on this. Let us help you. We will sit with you we'll work with you for a while to understand your company in depth, but then we'll just give you, this is what you have to show. 1, 2, 3, 4. This is your day. Take this to a graphic designer and get it done with. That's it. You don't need to do that. You don't have a graphic design or fine we'll give you a graphic design. You don't have to waste your time on this. You have to understand, not work on this slide and that slide, et cetera. Let's get to the bottom of it. Same thing with financial models. I've been doing financial models for 20 years. I doubt A CEO and sometimes even A CFO will get to the level of how to build a financial model. To, to my level where I've done it, like I said, for 20 years. So yes, I can work with 'em and I can tell them what to do, but sometimes it's much easier for me to say, okay, here is, let's work, let's build the basic template together of what you need. Let's, we'll build it together. Then you take it, just fill in the numbers.'cause you know the numbers. I might not necessarily know the numbers. Fill in the number, fill in your cost of goods, fill in your planned hiring, fill in your, your. Funnel your conversion rates. It's all these things that you need to fill in. Just put in numbers. You don't have to work on knowing how to deal with Excel and knowing what formulas to write, et cetera. We can build this for you. You just do what you need to do. And we've been doing acceleration programs for South Korea, so what we would do is we would take a company in South Korea, we would work with them online for a month. During that month, we will help them build all the things that they need to build, and then we would take them to the US to Silicon Valley, sit in San Jose. And there the focus would be on a developing connections and the networks and meeting the people they need in order to get to the next stage. Building relationships, which is I think, the most important part of business in the end. And B, knowing how to communicate. So we work with 'em on English and etiquette on, on culture and things like that. These are the soft skills that they need, but the rest, don't waste your time on it. We'll take care of it. Make sure that you have everything you need in order to get those meetings done. And by the way, we're thinking also of building a model that actually even takes the programming part of it. You're talking about ai. We're partnering with a company. That can build your MVP, but from a prompt. So what they do is they build everything, the dev stack the initial outline of the program, even the ui. So you work with the company, you understand what the need is, you work with 'em on the solution and understanding it, and then you develop the prompt that you give to the other, to the, to our partner. You get an MVP at the end of the process, so you get everything you need. All you need to do is know how to. I have one last question and it's, what's the balance between the value of expertise versus likability? So I work with a lot of people in the book writing space and they always think, oh, I need to show 'em an expert in the book. And I say no, you just have likability Is 10 times more important. We buy products from people we like more than experts. We don't change the channel to follow an expert. Whatever news channel you like, that's who you stay with.'cause you like the host. You don't follow the expert who comes in for five minutes if they switch to another channel. So that's why you stay with who you like. How much is that particular soft skill important for versus coming in and just being an absolute expert in your field? Wow. That is a very difficult question to answer because it, it is a balance. A nice guys finish last last but I'll tell you something. I don't think it's an either or. I think you need both. Although I've met a lot of entrepreneurs who were very unpleasant people and who were doing amazing job, really they were killer salespeople and really knew how to do the stuff. But each one of the, and I found I met a lot of likable people who just were crap at execution. Each one of these skills will only get you so far, but if you don't have the second, you will not get to the next stage. So you can be very likable, but if you don't execute in the end, you won't get the money. You can be an amazing executor, but if you're not likable, then the chances of you raising money are much lower or making sales because people will not like you. So you'll need a likable partner who will do the work for you. So that's why, by the way, startups are teams. You have 2, 3, 4 people, and hopefully you get all the skills within that package. So one is a good executor, but is completely, on the spectrum and doesn't know what he's, you can't put him in front of people because he'll mess everything up. But the other one is a smooth talker. Once he gets in the office, can't manage anyone and doesn't know what to do. And one is a technical guy and another is a business guy. And so you need the whole package in order to create a company that can work. Okay. A lot of everyone is shifting to AI stuff. I just got, I got a message today from a top 10 college in America that was clearly written by AI and and it was written bad. That's the, so as someone who's a prompt engineer and creates AI content, when I see bad written AI content, it hurts my feelings. I'm like, why didn't you read any of my posts? So you had not to do this. So it started with one of the most common introduction phrases, which is like in the ever-changing world of ai. And you, as soon as you read that, it's an A, it's a, chat B, even though it was chat BT, it wasn't claw 'cause that's a chat B standard phrase. It loves to say Ever changing. And digital world or electronic world or world of AI always starts this way. And I know a lot of people are now using AI to write their pitch decks and then. Companies then use AI to scan the pitch deck. So now you have a pitch deck written by chat, GPT, and then ChatGPT is ranking its own pitch deck. How, and it's like, how much do you think this is gonna affect the market in a downward trend? Like I can see how it could be really helpful with helping with structure. Like I always rewrite anything with even. If I have it written there always a right, the rough draft with ai, no problem. But I always add in my flare, add in my personality, a lot of things I do to make it really clear. I really did work on this that there is an element me here and how important is that when designing pitch deck and some of these things that you can shortcut with ai, that you can actually shortcut too far and end up sabotaging yourself because someone recognizes, oh, they just wrote this ai, they didn't care. This reminds me of this cartoon I saw once where you had one side a guy coming to his boss that said, I had this two. Like information that I had to send to the other company, I put it into Jet gt, it created a five page document out of it and I sent it to them. And on the other side, the guy, the analyst, looks at it and said, comes to his boss and says, I just got a five page document from the other company. I put it into J gt and he condensed it to two sentences, and here it is. Works on both sides, like you said. But I think you're very right in saying that this is a tool that can help you, but at this stage, at least cannot replace you because the second it feels disingenuous. And things that are written by AI usually do feel disingenuous. It's like generic words, meaningless sentences, things that are, you don't understand why it's even there. You feel that there's no passion behind it and you're turned off as an investor, you look at this and say, the minimum they could do is put themselves into the pitch deck. So I can see that. And if they don't do that, why should I actually even listen to them? So I. AI saves a lot of time in, like you said, the structure, maybe even telling you basic things of what to say and how to say. But then you have to go and you have to make it passionate. Passionate. You have to put yourself into it. You have to make sure that it's, it says the right thing, it hits the right points, and after that we can have another go at it and polish it up a bit. So it makes it looks a bit nicer. If the other side sees that it's been written by an ai, that's an automatic installation. The only place I would do something like this is if I had a company that says what we do is we write, we create pitch decks using ai. Then I would say, I've created this pitch deck using ai. That's it. That's the only use case I can see for. There's this temptation to shortcut because it helps do things faster, helps you structure, but it's so important to have a human element. I can tell you every single person that I reach out to on the show, I pick all my guests. I don't do inbound. It's really surprised that I actually read their profile. I've read a couple of the articles and I'm actually interested in them, just like you were surprised I read your article. I was like, of course. Of course I did. That's why I wanted to talk to you because I thought it was really interesting. I'm, I love, I watch every TV show about investing every, listen to every podcast about fund.'cause I find it fascinating'cause it's not my world. I'm from the other world of bootstrap world. So I like to look on the other side of the fence.'cause it's very fascinating to me too, the whole structure of it. And it's I couldn't even imagine if someone would just give me $10 million for my business or $5 million. Like it's such a strange world. But then of course you have. A pay master you have to prep, prove for them. So I see that world very fascinating to me. And the thing is, disingenuous is such a critical word that when someone sends me a message, as soon as I realize it's a form message, and I sometimes get those messages where we forget to fill in the variable. There's a two brackets that says, insert name, a book here, or put first name there. And sometimes people don't know they're sending an email. And in the preview it shows the variable, even though when you open the email, it shows my name. It's such a giveaway and it really lets you know that this person is mass mailing or they're not paying attention, or that they didn't, and it immediately goes from, oh, this person's interest me to, no, they're not. I'm just one of masses. They shotgun this email to 10,000 people, to a million people, and it. Really the worst is when you think it was written and then you realize it was AI later. Then you have that really big disappointment. So I think that's a critical lesson for people who wanna do fundraising or any form of outreach to grow your business. Such a good lesson that you wanna make sure that even if you use AI as the foundation that you. Stamp is still on it. There's an element of you there that they know you at least read it, that you didn't send out something you didn't read, because that will absolutely tank you, and it's so hard to recover from that. Once you break that little trust, it's so hard to recover. So I think that's an amazing lesson, and this has been an absolute amazing episode. Thank you so much for being here today, Joseph. Where can people find you online? Learn more about your accelerators and see some of the projects you're working on, if they wanna read more of your articles. Like I've enjoyed reading. Oh, thank you. So the best place to find me I think would be on LinkedIn. I also have my articles are also on Medium, although I'm, I don't push it too much there. If you go into we have several business units the main. Website we work from is Investible Solutions. This is the company name, it's Investible Solutions. That's the website, but our accelerator goes under Global Expansion Solutions. That's the other website. So we're there. But like I said, LinkedIn is the best way to get to me. Just search for Joseph Kine, K-O-N-I-J-N. I'm lucky enough to have a very unique name, so I pop up immediately. And I'm always happy to speak with anyone and like I said, unless they send me an email that says, I've been following your work and you're a leader in the industry, and then I immediately know that this has been generated by AI and I. Sometimes my feedback will be improve your prompt. But yeah. Amazing. Thank you. Thank you so much for being here, guys. We'll put everything in the show notes and everything will be in the show notes and below the video on YouTube. Thank you so much for being here for another amazing episode. Any last words? Again, thank you again. Thank you for this. Companies or governments that are looking to really help startups, especially in medical and bio. We're launching new programs all the time and I'd be happy to work with you on getting your startups globalized and going into the US market or the European market. Yeah. Amazing. Thank you so much for being here for another amazing episode of the Artificial Intelligence Podcast. Thanks for listening to today's episode starting with ai. It can be Scary. ChatGPT Profits is not only a bestseller, but also the Missing Instruction Manual to make Mastering Chat, GBTA Breeze bypass the hard stuff and get straight to success with chat g profits. As always, I would love for you to support the show by paying full price on Amazon, but you can get it absolutely free for a limited time@artificialintelligencepod.com slash gift. Thank you for listening to this week's episode of the Artificial Intelligence Podcast. Make sure to subscribe so you never miss another episode. We'll be back next Monday with more tips and tactics on how to leverage AI to escape that rat race. Head over to artificial intelligence pod.com now to see past episodes. Leave, review and check out all of our socials.