- Last week, Matthew focused on researching market segments and developing an AI-integrated solution to automate the initial research process. He used GPT to gather information and is currently refining his code to improve the results. Once completed, he plans to integrate the findings into the project's wiki.
- David shared his thoughts on the importance of involving artists and individuals from the creative industry in the project. He expressed concern about the current plan not adequately considering their participation and suggested incorporating more explicit processes to include their perspectives in internal discussions, planning processes, and milestones.
- Pak appreciated having some distance to digest the information and ideas shared by David and others. He attended networking events and met potential collaborators in co-working spaces and universities. Pak also worked on the audio API and shared it with the team. During the check-in, he encouraged team members to share their progress, feelings, and expectations for the upcoming week.
The check-in served as an opportunity for team members to update each other on their work, discuss any challenges they faced, and set expectations for the following week. This helps ensure that everyone is on the same page and working towards the same goals.
Review Timeline and Strategy
During the meeting, the team reviewed the timeline and strategy document that Pak had shared earlier. This document outlined the project's phases and sprint timelines, extending up to February 2024. The team discussed the importance of aligning their efforts with the overall strategy and ensuring that everyone was on the same page.
Separating Product Planning Phase
Matthew emphasized the importance of separating the product planning phase into distinct stages, specifically highlighting the need to differentiate between Phase 1 and Phase 2. He believes that a clear demarcation between these phases will help the team better understand the project's progress and ensure a smoother transition between stages.
1. End of Phase 1
- Matthew suggests that the team should formally acknowledge the end of Phase 1, which involves gathering all necessary information and completing the 24 steps.
- This ceremonial recognition will help the team understand that they have achieved a significant milestone and are ready to move on to the next phase.
2. Transition to Phase 2
- Matthew believes that Point 1 of Phase 2 should be treated as a separate event, marking the transition between Phase 1 and Phase 2.
- This transition point will serve as a clear indicator that the team is now shifting their focus from information gathering and planning to the actual implementation of the project.
3. Product Genesis Scoping and Design
- In Phase 2, the team will focus on product genesis scoping, design, and creating a product plan based on the market data gathered during Phase 1.
- This process will involve taking into account the infrastructure built during Phase 1, as well as evaluating the investor viability and the team's ability to build the product within the given budget.
4. Setting KPIs and Deadlines
- Matthew also suggests that the team should set Key Performance Indicators (KPIs) and deadlines for various tasks during the product planning phase.
- This will help the team track their progress, ensure that they are meeting their goals, and make the planning process more meaningful and structured.
By separating the product planning phase and clearly defining the transition between Phase 1 and Phase 2, Matthew believes that the team will be better equipped to manage the project and achieve their desired outcomes.
Doing the 24 Steps
Matthew shared his thoughts on the importance of following the 24 steps and how it relates to the company's strategy and decision-making process.
Sub-point 1: Financial Stability and Longevity
Matthew expressed his interest in focusing on the research of the 24 steps to determine which of them are most likely to provide the best financial stability and long-term success for the company. He believes that by identifying the most promising steps, the company can make more informed decisions about its strategy and direction.
Sub-point 2: Timing of Decisions
Matthew acknowledged the need to balance the timing of decisions with the company's overall strategy. He suggested that all four strategies under consideration (B2B, B2C, hybrid, and digital incubator) require the company to follow the 24 steps and make decisions accordingly. He emphasized the importance of planning and making decisions based on the company's progress through the 24 steps.
Sub-point 3: Philosophical Issue
Matthew also mentioned that the decision to follow the 24 steps as a guiding principle is a philosophical issue. As the major financial contributor to the company, he believes that it is essential to be responsible and consider whether the 24 steps should be treated as a "Bible" for the company's strategy and decision-making process.
Matthew believes that the 24 steps can provide valuable insights and guidance for the company's strategy and decision-making process. He emphasizes the importance of planning and making decisions based on the company's progress through the 24 steps, while also considering the philosophical implications of treating the 24 steps as a guiding principle.
Gathering of Tribes Strategy
The Gathering of Tribes Strategy is a proposal to bring together different groups of people, such as artists, developers, researchers, and other stakeholders, to collaborate on the project. The aim is to foster a diverse and inclusive environment that benefits the project's development and ensures various perspectives are taken into account.
1. Decentralized Collaboration
- Encourage independent, sovereign groups (referred to as tribes or gardens) to work together in a decentralized manner.
- Leverage the strengths and expertise of each tribe to contribute to the project's success.
2. Shared Narrative
- Combine multiple stories, such as "Map of the Future," "A Billion DAOs," and "Gathering of Tribes," to create a unified narrative that showcases how the tribes are working together.
- Emphasize the message of love, support, and collaboration among the tribes.
3. Joint Ventures and Slicing the Pie
- Establish joint ventures and agreements on how to share resources, profits, and responsibilities among the tribes.
- Ensure that each tribe feels fairly compensated and valued for their contributions to the project.
4. Lightweight Agora
- Create a lightweight agora (a central gathering place) where tribes can come together to share ideas, resources, and collaborate on projects.
- Allow each tribe to bring their unique strengths and perspectives to the table, enriching the overall project.
5. Common Minimum Standards
- Establish a set of common minimum standards that all tribes must adhere to, ensuring a cohesive and unified approach to the project.
- Ensure that these standards are flexible enough to accommodate the unique needs and goals of each tribe.
6. Regular Strategy Sessions
- Schedule regular strategy sessions for tribes to share their progress, discuss challenges, and brainstorm solutions.
- Use these sessions to maintain alignment with the project's goals and objectives, and to ensure effective collaboration among the tribes.
By implementing the Gathering of Tribes Strategy, the project aims to create a diverse, inclusive, and collaborative environment that leverages the unique strengths and perspectives of each tribe, ultimately leading to a more successful and sustainable project outcome.
David mentioned that he feels the document is missing the involvement and participation of artists and people in the creative industry. He would like to see more explicit processes that include artists and their thinking in internal discussions, planning processes, and milestones.
Community Leader Strategy
- Main Point: The community leader strategy focuses on identifying, recruiting, and engaging 100 community leaders by December, with an initial target of 15 to 20 leaders by September. These leaders will help promote and support the organization's events and initiatives.
Sub-point 1: Decentralized event in September
- The strategy includes organizing a decentralized event in September, which will be based on mapping the future. This event will serve as a platform to engage and onboard community leaders.
Sub-point 2: Collaboration with existing partners
- The community leader strategy involves working closely with existing partners and presenting the progress on May 4th and June 1st. This will help build confidence and ensure that the partners are aligned with the strategy.
Sub-point 3: Market segmentation
- The community leader strategy is a meta-market segmentation approach, as it focuses on onboarding community leaders who may not necessarily be the end paying customers. These leaders will help the organization reach its target market more effectively.
Sub-point 4: Common language and alignment
- The community leader strategy aims to establish a common language and alignment between the organization and its partners, ensuring that the pipeline and community leader strategies are interconnected and mutually supportive.
Sub-point 5: Ongoing support and engagement
- The community leader strategy includes providing ongoing support and engagement to the recruited leaders, ensuring their continued involvement and commitment to the organization's goals and initiatives.
Product Strategies - Decision Making
Digital Incubator Strategy
The digital incubator strategy aims to create a comprehensive and organized ecosystem for startups and entrepreneurs by taking over existing disorganized organizations and integrating them into a more structured and efficient system.
- The strategy involves positioning the company as the overarching ecosystem that provides support, resources, and guidance to startups and entrepreneurs.
- The company will be stealthy and ruthless in its approach, aiming to create a global guild onboarding ecosystem worth a billion dollars.
Engaging with Existing Organizations
- The company will engage with existing organizations, recognizing their strengths and inviting them to join the digital incubator.
- The goal is to create a unified and efficient platform for startups and entrepreneurs to access resources, investors, and support.
Building a Platform
- The company will build its own platform, initially keeping it under wraps until it is strong enough to be revealed.
- The platform will connect startups with investors and provide a streamlined process for collaboration and investment.
Timely Decision Making
- The digital incubator strategy requires quick decision-making to capitalize on investment opportunities and stay ahead of competitors.
- The company must act swiftly to secure investments and partnerships, ensuring the success of the digital incubator.
- Main Point: The event strategy involves focusing on organizing and running events that engage people in mapping the future and planning. The aim is to create a sustainable process for collecting market data and identifying potential market segments.
Sub-point 1: Investment and backing
- The event strategy requires obtaining investment and backing to support the organization and execution of events, such as attending conferences like Davos.
Sub-point 2: Industry partners
- Collaborating with various industry partners to participate in the events and contribute to the data collection process.
Sub-point 3: Data collection
- The events serve as a platform for collecting market data, which can be used to identify potential market segments and business propositions.
Sub-point 4: Financial sustainability
- The goal is to achieve financial sustainability through the event strategy, allowing the company to pivot towards a specific business proposition in the future.
Sub-point 5: Timeline
- The event strategy is planned to be executed for at least 12 months, with the possibility of pivoting towards a specific business proposition in the second year.
Startup Product Strategy
Main Point: The startup product strategy focuses on identifying a specific product or service, developing a minimum viable product (MVP), and rapidly entering the market to capitalize on the AI wave and gain a competitive advantage.
Sub-point 1: Identifying a Specific Product or Service
- The company will conduct market research and analyze trends to identify a product or service that has high potential for success.
- This process may involve evaluating customer pain points, assessing competitors, and identifying gaps in the market.
Sub-point 2: Developing a Minimum Viable Product (MVP)
- Once a product or service has been identified, the company will focus on developing an MVP.
- The MVP will be a simplified version of the final product, designed to test its viability and gather feedback from early users.
Sub-point 3: Rapid Market Entry
- The company will aim to enter the market quickly, leveraging the momentum of the AI wave and staying ahead of competitors.
- This approach may involve aggressive marketing, strategic partnerships, and continuous product iteration based on user feedback.
Sub-point 4: Laser Focus on the Product
- The startup product strategy requires a laser focus on the chosen product or service, dedicating resources and effort to its development and market penetration.
- This focus will help the company establish a strong presence in the market and build a loyal customer base.
Sub-point 5: Adapting to Market Feedback
- The company will continuously gather feedback from users and adapt the product or service accordingly.
- This iterative process will help the company refine its offering, improve its value proposition, and maintain a competitive edge in the market.
Sub-point 6: Scaling and Growth
- As the product or service gains traction, the company will focus on scaling its operations and expanding its market reach.
- This growth phase may involve securing additional funding, expanding the team, and exploring new market segments.
Main Point: The hybrid strategy combines elements of the event strategy and the digital incubator strategy, with the company initially focusing on organizing events and gathering market data before pivoting towards a specific product or service.
Initial Focus on Events
- The company will start by organizing events and collaborating with partners to gather market data and insights.
- This approach will help the company establish a strong market presence and identify potential business opportunities.
Pivoting Towards a Specific Product or Service
- Around September, the company will pivot towards either the digital incubator strategy or a specific digital product.
- The company will allocate 80% of its effort towards this new direction, leveraging the data and insights gathered from the events.
Attracting Investors and Partners
- The company will seek investors and partners for the event strategy, aiming to spin it off as a separate business.
- This approach will allow the company to focus on its new direction while still benefiting from the event strategy's success.
Adapting to Market Conditions
- If the company fails to sufficiently establish the event strategy by September, it may need to double down on the events and reevaluate its pivot plans.
- The company's ultimate goal is to transition from an event-focused business to a product or service-focused business.
Importance of a Unified Product
Pak emphasized the importance of having a unified product strategy to ensure that everyone on the team is on the same page and working towards a common goal. He mentioned the following key points:
Sub-point 1: Clear and Consistent Messaging
- Having a unified product strategy allows the team to present a clear and consistent message to investors and partners.
- This clarity helps build confidence in the company's vision and direction, making it easier for stakeholders to understand and support the product.
Sub-point 2: Aligning Team Efforts
- A unified product strategy ensures that all team members are working towards the same goal, reducing the risk of misaligned efforts and wasted resources.
- This alignment helps the team to work more efficiently and effectively, ultimately increasing the chances of the product's success.
Sub-point 3: Simplifying Decision-Making
- With a unified product strategy, the team can make decisions more easily, as they are all working towards the same objective.
- This simplification of decision-making can help the team to move more quickly and adapt to changing market conditions.
Sub-point 4: Focusing on a Single Product
- Pak mentioned that the team should focus on one product with multiple features and components, rather than pursuing multiple different product ideas.
- This focus allows the team to dedicate their resources and efforts to a single product, increasing the likelihood of its success in the market.
Sub-point 5: Building Confidence in Investors
- A unified product strategy helps to build confidence in investors, as they can clearly understand the company's vision and direction.
- This confidence can lead to increased investment and support, which can be crucial for the success of a startup.
Debate: B2B vs B2C
The debate centered around whether the company should focus on a business-to-business (B2B) approach or a business-to-consumer (B2C) approach, considering the problems and opportunities associated with each.
Sub-point 1: Problems
Struggling businesses: The businesses being considered for B2B partnerships are facing financial difficulties and have limited cash flow, which could impact the success of the joint venture.
Market segment challenges: The B2B market segment has inherent problems, such as the need for a more complex sales process, longer sales cycles, and the potential for a smaller customer base.
Resource allocation: Focusing on the B2B approach may require more resources, such as time and money, which could impact the company's ability to explore other opportunities.
Customization and integration: B2B products often require customization and integration with existing systems, which can be time-consuming and costly.
Sub-point 2: Opportunities
Collaboration: The B2B approach allows for collaboration between companies across different fields, potentially leading to innovative solutions and products.
Investor connections: B2B organizations can help the company connect with investors, which could lead to additional funding and support.
Market expertise: Partnering with established businesses can provide valuable market insights and expertise, which can help the company refine its product offerings and strategies.
Long-term contracts: B2B relationships often involve long-term contracts, which can provide a stable source of revenue for the company.
Sub-point 1: Problems
Time constraints: The company may not have enough time to build a truly B2C product by the end of the year, which could impact its ability to secure funding and achieve sustainability.
Financing traction: There is a lack of confidence in gaining financing traction based on B2C efforts, which could make it difficult for the company to secure the necessary funding to support its growth.
Market competition: The B2C market is often more competitive, with numerous companies vying for consumer attention, which could make it challenging for the company to stand out and gain market share.
Customer acquisition costs: Acquiring new customers in the B2C market can be expensive, and the company may need to invest heavily in marketing and advertising to attract consumers.
Sub-point 2: Opportunities
Larger customer base: The B2C approach has the potential to reach a larger customer base, which could lead to increased revenue and growth.
Consumer-driven innovation: Focusing on the B2C market can help the company better understand consumer needs and preferences, leading to more innovative and user-friendly products.
Brand building: A successful B2C product can help the company build a strong brand and reputation, which can lead to increased customer loyalty and long-term success.
Scalability: B2C products often have the potential for greater scalability, allowing the company to reach a larger audience and expand its market presence.
While the B2B approach offers collaboration opportunities and investor connections, it also presents challenges related to struggling businesses and market segment issues. On the other hand, the B2C approach has the potential for a larger customer base and consumer-driven innovation but faces time constraints and financing challenges. The company must carefully weigh the pros and cons of each approach to determine the best path forward.
The issue with timing revolved around the disagreement between team members on when to consolidate various strategies and projects into a unified approach.
Sub-point 1: Differing Opinions on Timing
There was a difference of opinion among team members regarding the appropriate time to consolidate the various strategies and projects. Some team members believed that the consolidation should happen immediately, while others, like Matthew, thought it should occur later, around the end of July or in August.
Sub-point 2: Impact on Decision-making
The disagreement on timing could potentially impact the decision-making process for the company, as it may influence which strategies and projects are prioritized and how resources are allocated. This could, in turn, affect the company's overall direction and success.
Sub-point 3: Balancing Timing with Strategy
The team needs to find a balance between the timing of consolidation and the overall strategy of the company. This involves considering the progress of each project, the resources available, and the potential benefits and drawbacks of consolidating at different points in time.
The issue with timing stems from the disagreement among team members on when to consolidate various strategies and projects. This disagreement could impact the decision-making process and the company's overall direction. The team must find a balance between timing and strategy to ensure the best possible outcome for the company.
Shitting for the Future
The idea of "Shitting for the Future" was proposed as a humorous and aggressive media strategy to generate attention and engagement for the company's project.
Sub-point 1: Concept
The concept involves introducing an AI-powered asynchronous chatbot that people can interact with while using the restroom at a cafe or restaurant. The chatbot would engage users in conversations about the current state of the world and potential future scenarios, encouraging them to share their thoughts and concerns.
Sub-point 2: Global Community
The goal of this strategy is to create a global community of people who participate in these conversations while using the restroom, generating a unique and potentially viral marketing campaign. The collected data and insights could be used to inform the company's future projects and initiatives.
Sub-point 3: Media Attention
By presenting this idea with a humorous and provocative angle, the company aims to attract media attention and generate buzz around its project. This could potentially lead to increased visibility and interest in the company's work.
"Shitting for the Future" is a proposed media strategy that aims to engage users in conversations about the world's current state and future possibilities through an AI chatbot while using the restroom. The goal is to create a global community, generate media attention, and inform the company's future projects with the insights gathered from these conversations.
Key Decisions to be Made
Decision 1: Selection of Strategy
The company needs to decide which of the four strategies under consideration (B2B, B2C, hybrid, and digital incubator) to pursue. This decision will have a significant impact on the company's direction and resource allocation.
Decision 2: Timing of Consolidation
The team must determine the appropriate time to consolidate the various strategies and projects. Opinions differ among team members, with some advocating for immediate consolidation and others suggesting a later date, around the end of July or in August. The chosen timing will influence the prioritization of strategies and projects, as well as resource allocation.
Decision 3: Adoption of the 24 Steps
The company needs to decide whether to adopt the 24 steps as a guiding principle for its strategy and decision-making process. This philosophical issue will affect the company's approach to financial stability, longevity, and overall direction.
Decision 4: Setting KPIs and Deadlines
The team should establish Key Performance Indicators (KPIs) and deadlines for various tasks during the product planning phase. This will help track progress, ensure goals are met, and provide a structured approach to planning.
Decision 5: Balancing Timing with Strategy
The team must find a balance between the timing of consolidation and the overall strategy of the company. This involves considering the progress of each project, the resources available, and the potential benefits and drawbacks of consolidating at different points in time.
- Studio Strategy
- Software Strategy
- Pipeline Strategy
- Research Next Steps
- May 4th Event
- June 1st Event
- Schedule Strategy Sessions
- KPIs and Milestones