2020, and 2021 already, have accelerated human progress more than we could ever imagine. Privacy, efficiency, and automation; once considered a luxury for many, is now a necessity for all.
Inspired by Greg Isenberg's tweet on winning startups, this post will breakdown relevant for startup "themes" that we'll see this decade.
Software has eaten the world since 2010. And now, in the decade of 2020, we're going to see an influx of startups that are solving the world's biggest problems through hardware.
Venture capital firms like Lux Capital are paving the way - and they're helping the world progress on life-changing advancements in the following categories:
Similar to how software development has been democratized, hardware development costs will significantly decrease over the next decade through applications such as 3D printing. The graph below, although not the best indicator of decreasing hardware development costs, shows how hardware and equipment prices do generally decrease overtime (from a consumer lens).
OpenAI is nuts, and we're starting to see real-world use cases.
Quick note: OpenAI is the non-profit behind GPT-3 - which has 175 billion machine learning parameters and produces human-like text 🤯.
Simply put, OpenAI can interpret the text that you input, and perform actions to summarize, enrich, and even create new text.
Here are some companies using Open-AI:
We're going to see GPT-3 revolutionize a lot of industries in 2020 - starting with the B2B space.
If you know of any companies using NLP with Open AI in the consumer space, let me know!
Here's a video from Otherside AI's homepage.
Everybody hates ads, and it leads to a poor user experience. We see it - Youtube ads are getting longer and longer. Irrelevant Twitter ads are ruining your newsfeed.
Companies that typically rely on the ad model for monetization (whether it's The New York Times to Facebook) will need to innovate and rethink their business model.
One monetization model that I think would be interesting are collectibles & NFT's. Similar to how a sports team might have "ads" on their jerseys, there's an opportunity for there to be non-intrusive sponsorships on digital, branded collectibles and experiences.
Social media companies that develop an algorithm that follow these rules will ultimately win in the decade of 2020:
Messaging apps will have a huge overhaul. Texting with your fingers is the an inefficient way of communicating compared to voice.
In fact, we'll see the following: