Podcast Summary
AI in creator economy: Co-founders Jake and Gary identified challenges faced by content creators and talent agencies and saw potential in AI technology to solve these issues, leading to the founding of Retrograde to explore this idea further.
The founding of Retrograde, a new AI company, was born out of a shared observation of challenges faced by content creators and talent agencies, combined with the emergence of AI technology. Jake and Gary, the co-founders, met while working on a financing platform for creators and talent agencies, where they saw firsthand the frustrations of both parties. They realized that AI could potentially solve these issues and started Retrograde to explore this idea further. Jake, having previously sold a company, was inspired to start another venture after experimenting with AI to help creators communicate more effectively with their agents. Both founders bring unique expertise to the table, with Gary's background in engineering and Jake's experience in the creator economy. The journey so far has been about recognizing the importance of speed in a tech startup and combining their insights to create a solution that could revolutionize the creator economy.
Risks and Opportunities: Determination and willingness to take risks led the speaker to extraordinary opportunities, including starting a content house, creating a company that paid creators up front, and founding a tech company as an AI talent agent for creators.
Determination and a willingness to take risks can lead to extraordinary opportunities. The speaker started out making videos and eventually worked with big brands. Impressed by the ambition of startup founders, he shut down his video business and started a content house in Ireland. When he realized creators were struggling financially, he came up with the idea for PepLookingFor, a company that paid creators up front and then charged brands later. PepLookingFor became successful and was eventually bought by Wayflower. The speaker then started Retrograde, a tech company that aims to be an AI talent agent for creators, simplifying the communication process between creators and brands. The key takeaway is that the speaker's perseverance and willingness to adapt to new opportunities led him to create successful businesses in the rapidly growing creator economy.
Social media content creator agents: Retrograde, a new platform, acts as an autonomous agent for social media content creators, efficiently negotiating brand deals and managing communications, allowing creators to focus on their content without the need for a traditional agent and associated high fees.
The traditional talent agent model may not be effective for the rapidly growing world of content creators on social media platforms. The financial complexities of the entertainment industry, which talent agents were originally designed for, are less present in the content creator sphere. Instead, creators often face the challenge of managing their own emails and negotiations with brands, which can take away from their focus on creating content. Retrograde, a new platform, aims to fill this gap by acting as an autonomous agent for creators. Through text-based communication, Retrograde can quickly and efficiently negotiate brand deals and communicate with creators, allowing them to focus on their content without the need for a traditional agent or the associated high fees. The platform's AI system also ensures that creators don't miss out on potential deals and can respond directly to brand offers, streamlining the process and saving time. Overall, Retrograde offers a middle ground for creators who want to maintain control over their brand and negotiations while avoiding the time-consuming and often emotionally draining process of managing their own emails and negotiations.
Creator economy transparency: The creator economy requires transparency and fair representation, and technology like automated deal-making systems and revenue sharing models can help level the playing field for creators, while ensuring they have control over their deals and are fairly compensated.
The creator economy is in need of transparency and fair representation. Creators often feel undervalued and overlooked by talent agencies, leading to frustration and missed opportunities. A new approach is needed to level the playing field and put creators in the driver's seat. The use of technology, such as automated deal-making systems, can help streamline the process and give creators more control over their deals. However, it's important to note that these systems are not a replacement for human agents, but rather a tool to assist creators in making informed decisions. Additionally, the standard commission rate of 20% in the creator industry is a topic of contention. Many creators feel exploited by this fee structure, especially when there is a lack of transparency and knowledge sharing within the industry. To address these issues, alternative solutions are needed, such as revenue sharing models for creators who refer new talent to the platform. This not only incentivizes creators to build their networks but also ensures they are fairly compensated for their efforts. In summary, the creator economy is ripe for disruption, and it's crucial that we prioritize transparency, fairness, and control for creators. By leveraging technology and exploring new business models, we can create a more equitable and thriving ecosystem for all involved.
Creator Platforms, Referral System: Retrograde, a new platform, offers fairer commission structures and transparency for creators, pays creators 5% of commission from referrals, and streamlines processes with technology, benefiting both creators and talent agents.
Retrograde, a new platform for creators, aims to revolutionize the way creators are treated in the industry by offering fairer commission structures and transparency. By implementing a referral system where creators receive 5% of the commission from every referral they make, they essentially pay no commission if they refer creators of the same size. This not only benefits creators but also talent agents, who can earn more money through referral fees than they might make in their current jobs. Retrograde's technology also streamlines the process by reviewing contracts and providing best-practice briefing, saving creators time and potential money lost through reshoots and inefficient communication. Overall, Retrograde's mission is to provide a fairer, more transparent, and more efficient solution for creators in the industry.
Managing cash flow for creators and tech founders: Understanding financial situations, staying agile, building something impressive, and gathering data are crucial for managing cash flow in the creative and tech industries.
Managing cash flow is crucial for creators and tech founders alike. Delays in payments from clients can cause significant stress and uncertainty, making it essential to have a solid understanding of your financial situation. For tech founders, building something people want is key, but it's important to remember that iterating quickly and staying agile is essential. In the world of software development, the ability to make changes in real-time based on user feedback is a significant advantage. When it comes to raising funding, having proof of concept and a solid track record can make all the difference. For first-time founders, it's crucial to build something impressive and gather as much data as possible before approaching investors. The tech industry moves fast, and staying in the loop with your audience or users is vital to maintaining a competitive edge.
Co-founder relationship: Clear communication, understanding strengths/weaknesses, and building a relationship before starting the project are crucial for a successful co-founding partnership. Being willing to take risks and grow together also helps navigate challenges.
When it comes to building a business or starting a project with a co-founder, transparency and open communication are key to mitigating potential conflicts. It's important to have a clear understanding of each other's strengths, weaknesses, and goals. Building a relationship before diving into the project can also help ensure a strong foundation. Additionally, being willing to take risks and being open to growth are essential for navigating the challenges that come with co-founding a company. Ultimately, the success of a co-founding relationship depends on the willingness of both parties to work together towards a common goal, despite any obstacles that may arise.
Positive Mindset: Believing in oneself and having a positive mindset can lead to success. Practice affirmations, try new things, ask for opportunities, and believe in the power of the universe.
Having a positive mindset and believing in oneself can lead to success. Jake shared how his grandmother's affirmations instilled in him a belief that anything is possible, and this mindset shift helped him foresee success and replace himself in the necessary headspace to make it happen. He also believes in the power of the universe and that good things happen when you put yourself out there and do the work. Jake encourages trying new things, asking for opportunities, and affirming that everything always works out for the best. He also practices "Lucky Girl Syndrome," which involves believing that you're the luckiest person on the planet and being grateful for everything you have. Even in the face of adversity, Jake maintains this positive mindset and believes that everything works out for the best in the end. Lastly, Jake announced the official launch of Right to Create, a selective creative community, and encouraged interested individuals to join the waitlist.