I think that ChatGPT is a PR manager of the big tech word. I am going to show it in a few posts.
First, I asked a question that might interest startupers and investors, and everyone who is interested in technology and the markets. This is it. How did Peter Thiel know that it is worth to invest in Facebook?
If you ask ChatGPT, it will give you an answer, a long list of different factors. It all sounds logic and is worth mentioning but reading them and listening to lectures of Peter Thiel you think, that there is something missing from the list.
So, what did ChatGPT say? It says:
„Peter Thiel’s decision to invest in Facebook was influenced by a combination of factors that highlighted the potential of the social media platform. While I can’t provide real-time insights or access to Peter Thiel’s personal thoughts, I can outline some key reasons that are commonly attributed to his decision to invest in Facebook. … Thiel’s decision to invest in Facebook was likely a combination of his strategic investment philosophy, his recognition of the platform’s unique potential, and his understanding of market trends and the power of network effects. It’s important to note that successful investments often involve a mixture of intuition, thorough analysis, and a willingness to take calculated risks.” This is an answer of a professional PR manager. What can a person who sometimes listens to the lectures of the great investor say? What is this great potential ChatGPT is talking about?
Keeping the mammoth alive
What do I mean when I talk about mammoth? About the whole big computer business, including the Internet. It’s a mammoth. Although I can’t see inside Theil’s mind either, I can imagine that the people who were interested in extending the life of the mammoth were thinking about how to sell everyone a computer that could connect to the big network. To do this, people need to be hooked, as Nir Eyal writes in his book. Facebook was perfect for this.
Which many would say
OK. We already knew this. Why am I telling you this then? Because it would be nice if those who run startups or are members of such a team never forget that big boys invest in their company only if they feed the mammoth.
What does a mammoth eat?
The mammoth eats everything and anything that can make it even bigger. When looking for investors with your startup, keep this in mind. You don’t have to listen to a lot of PR hype. Build something that the mammoth eats if you expect money from investors. And its main food is screen time.
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