Podcast Summary
Decentralizing access to digital billboards: Successful founders identify pain points, build strong teams, focus on product development, and generate revenue through testing to increase chances of investment and success
Successful founders know their value and put in the work to bring their product to market. They are builder founders with a strong team and product velocity. Eric, the CEO of The Public Board, exemplifies this mindset. He identified a pain point in the process of accessing digital billboards and turned it into a solution by decentralizing access to them. Through testing at major events, he generated significant revenue and positive feedback from customers. By focusing on product development and growth, founders increase their chances of securing investment and success in their startup journey. To apply these lessons and potentially join the next cohort of Founder University, visit founder.university before October 25th.
Billboard Marketplace: Public Board is disrupting traditional billboard advertising with a marketplace for owners, focusing on consumer market, generating revenue, expanding to SMBs/enterprise, and using a variable take rate to secure inventory.
Public Board is disrupting the traditional billboard advertising industry by creating a marketplace for billboard owners, focusing on the consumer market as their beachhead customer. The team, consisting of repeat founders Eric and Bhargav, aims to generate significant revenue in cities and expand into SMBs and enterprise in the future. They have a variable take rate based on performance and plan to secure billboard inventory by demonstrating higher revenue generation for the owners. The vision includes expanding to digital billboards and events in the future. Eric and Bhargav, both technical co-founders, bring experience from their previous successful ventures. They are currently seeking to simplify cap table management with the help of Fidelity Private Shares.
AI in industries: AI is transforming industries by providing personalized solutions and automating processes, resulting in more efficient and effective experiences in funding startups, marathon training, and podcasting exploration
Technology is revolutionizing various industries by providing personalized solutions and automating processes. Fidelity's Private Chairs platform offers a seamless funding experience for startups, while Speed AI uses AI to create customized training plans and nutrition advice for runners. Another example is Pod Engine, which uses AI to help businesses explore and succeed in the podcasting industry. These companies demonstrate the potential of AI to enhance user experiences and streamline operations. Fidelity's platform not only offers funding but also access to exclusive events and a supportive community for founders and VCs. Speed AI, on the other hand, uses AI to create tailored training plans and nutrition advice for runners, making their marathon training more effective and efficient. Pod Engine, meanwhile, uses AI to help businesses identify opportunities in the podcasting industry, making it easier for them to explore this growth medium. These companies showcase the power of AI to provide personalized solutions and automate processes, ultimately making experiences more seamless and efficient. Whether it's funding a startup, training for a marathon, or exploring new business opportunities, AI is transforming industries and making a significant impact.
PodEngine.ai's focus on notable podcasts: PodEngine.ai targets podcasts with significant revenue for advertising partnerships, emphasizing the value of their service and the seriousness of potential clients.
PodEngine.ai, led by CEO Joe Tanarella, is a team of experienced entrepreneurs with a successful track record and impressive traction in the podcast advertising space. Tanarella shared his experience of manually researching podcast sponsors and the demand for guest appearances on podcasts. He emphasized the importance of focusing on notable podcasts with significant revenue instead of the long tail of 500,000 podcasts. Tanarella suggested a pricing strategy of $500 a month or more, emphasizing the value of the service and the seriousness of potential clients. He also shared his belief that data subscriptions are a profitable business model and advised a yearly contract with no discounts for those who can afford it. The team behind PodEngine.ai consists of two co-founders, both technical, with a background in software development and consulting.
Google Cloud Credits for Startups: Google Cloud offers significant credits to startups, including up to $350,000 for AI startups. Focusing on customers, building a great team, and having product velocity can lead to great returns with Google's support.
Google for Startups Cloud Program is offering significant cloud credits to startups, with up to $350,000 for AI startups. This program is serious about supporting startups and 90% of generative AI unicorns choose Google Cloud. The call to action is to sign up and start building. The discussion also touched on ranking three companies based on potential return on investment, with Pot Engine (a data subscription business), Public Board (disrupting out-of-home advertising), and Speed AI (focused on running) being the ranked companies. The key message is that startups need to focus on their customers, build a product or service they love, and have a hardworking team to have good product velocity and succeed. Google's support, along with the team's effort and time, can lead to great returns.
Founder University insights: Founder University offered unique learning experiences, from business fundamentals to market analysis and customer relationships, benefiting each founder differently.
That Founder University provided valuable insights and learning experiences for the founders, each in their unique ways. Matt, with an engineering background, gained practical knowledge on business aspects like setting up a company and structuring finances. Joe appreciated the community and networking opportunities with like-minded founders. Eric benefited from deep-diving into market analysis and understanding his total addressable market. Founder University served as a platform for learning essential skills and gaining new perspectives. Additionally, the founders highlighted the importance of understanding and having a strong relationship with their customers, focusing on those who consider their product essential.
Understanding customers: Analyzing customer data, quantifying value, hiring passionate team members, and creating essential products can lead to significant growth and success for a business.
Identifying and catering to the specific needs and interests of your target audience can lead to significant growth and success for a business. This can be achieved by using data analysis to provide valuable insights and solutions, quantifying the value of your offerings for potential customers, and hiring team members who are passionate about your product or service and skilled in their roles. Additionally, creating a product that is essential and valuable to people's lives, and encouraging virality through word-of-mouth and social sharing, can help drive growth and product-market fit. Ultimately, it's important to understand your customers and their needs, and to provide solutions that address those needs in a meaningful way.
Multiplayer mode for business growth: Implementing a multiplayer mode in your business can lead to cost savings through user referrals, increased user engagement, and virality. Encourage user referrals and tap into the power of word-of-mouth marketing to grow your business.
Implementing a "multiplayer mode" in your business can lead to significant cost savings and growth through user referrals. By having users invite friends to join, you can offset the cost of acquiring new customers and even turn a profit. This not only reduces your customer acquisition costs but also increases user engagement and virality. Additionally, networking and meeting other founders through platforms like Founder.university or Launch.co can provide valuable resources and opportunities for funding. So, encourage user referrals and tap into the power of word-of-mouth marketing to grow your business.