2023-08-07 11:07:10
Soon following the release of ChatGPT, users sought to understand the real potentials of the tool in all fields, including finance and investment. A crypto boy has also created his business with ChatGPT with an investment of 100 dollars. But it’s a fiasco.
Building a Business with ChatGPT: A Hype Bubble
The actions of Jackson Greathouse Fall is the perfect embodiment of the hype bubble around ChatGPT. This crypto boy is indeed known for having invested 100 dollars in the creation of a startup and for having entrusted its management to ChatGPT. Result ? A complete fiasco, but not immediately.
Here is the story. Back in March, Jackson Greathouse Fall posted a Tweet explaining how he leveraged ChatGPT to build his startup. With $100 investment, he asked the AI tool to earn him as much money as possible in the shortest possible time.
Just three days following that first post, his Twitter following has grown from 3,000 to 82,000. Most are on the lookout for the daily report on the company’s progress. This gave birth to the HustleGPT movement. It’s nothing less than a creative approach to monetizing GPT, a movement started by the viral Greathouse Fall Tweet.
The business plan proposed by the AI
After Jackson Greathouse Fall’s request, ChatGPT offered him a business model. The AI notably advised him to create an affiliate marketing platform focused on green products. ChatGPT found him a cheap domain name, greengadgetguru.com, for $8.16.
I gave GPT-4 a budget of $100 and told it to make as much money as possible.
I’m acting as its human liaison, buying anything it says to.
Do you think it’ll be able to make smart investments and build an online business?
Follow along ???? pic.twitter.com/zu4nvgibiK
— Jackson Greathouse Fall (@jacksonfall) March 15, 2023
Fall also paid $29 for site hosting. Our investor then generated his logo via DALL·E 2 and the site went live. ChatGPT suggested a dozen eco-friendly kitchen gadgets to list on the site. Articles are written with the help of Midjourney.
So he had just over $60 left. ChatGPT advises the businessman to invest 40 dollars in advertisements on social networks. Objective ? Gain visibility. Over the days, ChatGPT offers development strategies: hire freelance content creators, capitalize on Fall’s 50,000 followers, recruit stock managers, etc.
Green Gadget Guru: success or failure?
Following recommendations from ChatGPT, Jackson Greathouse Fall created the Green Gadget Guru website and hired collaborators to run the startup. He was also able to get over $7,000 in investment from people who wanted to bet on the project (Fall’s Twitter account is currently followed by over 130,000 followers).
You should know that ChatGPT only offers marketing plans and business models. But behind that, company founders must provide the work necessary to get their startup off the ground and ensure its proper development. Today, only a few months following its launch, Green Gadget Guru no longer exists. In other words, the startup is a bitter failure.
It is entirely possible to take advantage of AI to create a startup or even come up with an impactful and high-potential original idea. Nevertheless, success is not immediate (usually). It is the result of consistent and sustained efforts. However, nothing prevents you from “seeking strategic advice” from the AI as your startup develops. It can help, but it’s not everything.
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