Credible

credible

For the 22nd part of Unhashed, I reached out to Nathan Keller, the lead developer at Optimus Venture, a community & crowdfunding investment platform for blockchain and crypto projects. So, let’s dive into his insights about the DeFi and crypto space. Q1. Welcome to Unhashed. What’s your crypto story and what led you to start working on Optimus Ventures? Answer: We’ve been running a private crypto investment group for over four years now and during this period we’ve seen firsthand the complicated relationship between DeFi investors and businesses. Given the novel nature of this industry, investors are still skeptical about future DeFi projects. There’s always a possibility that the project they invested in will turn out to be a scam or fail to perform and this essentially drives them away from the industry. From the point of view of businesses, this makes it hard for them to raise funds for the development of the project, and even if they do find investors, the possibility of a pump and dump episode can never be ruled out. This kind of complicated relationship between investors and businesses in DeFi has choked many promising projects into oblivion. And, having seen this for so long, we wanted to create a better way to connect projects and investors, and that is how Optimus was created. Our primary goal with Optimus Ventures is to help raise promising DeFi projects that can contribute to the growth of the industry and add value to the community of investors. All of our projects are carefully vetted to evade the possibility of a scam and our proprietary smart contract ensures that investors are protected. With such measures in place, we hope to improve the complicated investor-business relationship in DeFi and ensure that promising projects have a fighting chance for success. Q2. Raising funds in a KYC-compliant way is a tough ask. Given the fragile regulations in place, how viable is crowdfunding for crypto/DeFi businesses? Answer: Projects launching on the Optimus platform have the liberty to decide whether or not they’d like a KYC. Our role is to connect investors with promising projects, but the project developers are the ones launching the sale smart contract and it can be tailored to suit their needs. Regarding the liability of crowdfunding, DeFi platforms have more or less revolutionized it in recent times. When compared to other ways of fundraising, crowdfunding on DeFi offers transparency, a reliable infrastructure, a good reward system, and security above all. Yes, the regulations are fragile but given that DeFi’s crowdfunding platforms are based on the blockchain, the security risks are minimal. Moreover, on platforms like Optimus where projects are vetted for reliability and potential, the chances of fraud of greatly reduced, and crowdfunding could be the most feasible means of fundraising for emergent projects. Q3. What are the advantages that Optimus Ventures stands to reap with the unique 2-way vesting implementation? Answer: We believe that two-way vesting is the key to improving the relationship between investors and businesses in DeFi. It has numerous advantages for both sides. In two-way vesting, investor assets are locked in a smart contract on our platform. If the project does well to succeed, they project tokens strategically released in fixed time periods. However, if the project goes south, investor assets are still safe and will be returned to them.  This minimizes the risk involved with DeFi investing and allows investors to be protected through the whole ordeal. Q4. What is the viability of evaluating investor behavior? With several variables in play, can investor behavior be a benchmark for accessing investment opportunities in the crypto or DeFi space? Answer: When you work at a crypto investment group for as long as we have, you’ll know how poor-acting investors can hurt promising projects in the DeFi space. In doing so, they not only thwart the chances of the project’s success but only take away investment opportunities from reliable investors. In this regard, having a gauge of investor behavior in the past will give projects an edge, letting them evaluate and work with reliable investors who can actually contribute to the project’s growth. We believe that investor behavior should absolutely be an important metric for accessing early-stage investment opportunities. This will help not just the projects but also genuine investors building projects. Q5. Please elaborate on the concept of 'dynamic allocations' and how that transpires into reality during raising capital. Answer: At the core of the dynamic allocation system is the HODL score that takes investor data from past token sales, and uses it to determine future token sales allocation. The score is based on how many tokens were sold over a period of time since TGE. Another component is allocation usage. A member that does not use the allocation he was given in past sales will get less allocation in future sales. The third component is the percentage of $OPTCM tokens held compared to others in that sale round. So in reality, when there is a new project in Optimus, investors have the ability to express their interest to invest. Once the interest stage is over, the system will automatically calculate individual allocations based on the total allocation and after implementing the dynamic allocation algorithm. What should happen as time goes by, is that dumpers will get less allocation in new projects. Q6. What safety measures are a must for investment protocols and DeFi platforms to adopt in order to protect investors in a dynamic space as crypto? Answer: DeFi platforms have become an easy target for hackers in recent years. They have left no stone unturned to exploit bugs and smart contract code vulnerabilities to pocket billions of dollars worth of assets. This is why it is important for DeFi platforms, especially launchpads to go the extra mile to ensure the safety of investor assets. A full performance and security testing of the protocol can be conducted to ensure that there are weak links that hackers can exploit. Additionally, smart contracts can be audited by renowned security firms like Certik to ensure that they are safe to deploy. Measures like this, though time-consuming at the beginning, can help secure the protocol and retain users’ trust by safeguarding their assets. Q7.How do you view the future of crypto and DeFi investments in the context of taxes and other regulations? As crypto and DeFi industries are slowly making their way towards the mainstream, conversations around regulation are emerging. Coinbase’s recent tiff with the SEC is a clear sign that regulators are finally considering DeFi. There is a good chance that in the coming years, most countries will clarify their stance on cryptocurrencies and some of them have already shown the willingness to classify them as an asset class. In such a case, the returns on crypto investments can become taxable and investors definitely need to keep this in mind. But on the positive side, this means official recognition from the world governments which can increase user trust and make DeFi more appealing to a wide variety of people. Disclaimer: The sole purpose of Unhashed is to unhash (decode) information about projects innovating using blockchain and cryptocurrencies and share it with the community. The does not have any vested interest in any of the projects covered herein. Not that this article shares any, but still, taking investment advice from strangers on the internet is not a wise thing to do. writer

Poor Acting VCs are a Threat to Credible DeFi Projects: Unhashed #22

Entrepreneurs are known to run into dozens of ideas on a daily basis, if not more. While most of them seem to border on absurdity in the beginning, it is often difficult to determine whether or not they would work out in the long run. That’s why the best way of ensuring your idea is worth developing is to learn at the fastest possible pace and have the willingness to try out different experiments. Based on our proven knowledge on product development and experience, we have developed a template document relating to the process of idea validation, and wrote the guide to explain each question and step in a simple, understandable manner. How’s this helpful? Avoid wasting time and resources on something that’s certainly not worth it. Learn proactively and pivot your idea at a much quicker pace. Validate your product idea without actual budget/coding skills. Answering all the questions posed in this guide means it can serve as a worthwhile investor deck. Couple this with running some experiments and you’re well poised to raise money from investors! Most critically, it provides a credible framework to separate good ideas from bad ones. Value Proposition What important truth does your idea uncover that is not mainstream? The following would be a business version of this question: what is that valuable company that nobody is building? Every correct answer is necessarily a secret: something important and unknown, something hard to do but doable ( ). by Peter Thiel It is important for your idea to reveal some unknown, unconventional truth in order to create something of value. Something nobody chooses to talk about aloud, but will become evident to all after it’s unraveled. For more interesting nuggets and insights on read book. startups that attract VC investors Zero to One Define fundamental value assumptions Here at datarockets, we classify three kinds of assumptions: Value assumptions: To define the value of your idea and future product. Business model assumptions: This affects the manner in which you get your product monetized. Growth assumptions: How you’ll ensure growth of your product and continue to attract new customers. Let’s begin with the basics: the value assumptions! What are your fundamental value assumptions? How does it help to resolve real-world problems? On the basis of the previous chapter’s statement, it’s best to define the fundamental value assumptions and experiment with them in the fastest possible manner. is another popular term for fundamental value assumptions. Leap of faith assumptions If your leap of faith assumptions are not true, the whole idea is not viable. This means that if your failed assumption won’t end up ruining the whole idea, then it’s not vitally important to begin with, thus implying that it can no longer be your fundamental value assumption. Growth evaluation Does your idea grow with the advancements of supporting technologies (durability)? Before taking the next step, confirm whether a new, upcoming technology won’t kill your promising idea. Ex: If you’re intending to develop a startup that teaches people how to drive vehicles, it may make sense to assume that with the advance of self-driving cars your business might get destroyed. Existing Solutions Research Has anyone implemented your idea / tried to implement it before? Although a typical process begins with communicating with people whose pain points will be addressed with your product/service, it makes a lot of sense to first research your idea and determine if similar services/solutions are already available in the market. After ensuring that the competition is not excessively intense or your idea provides breakthrough value with its uniqueness, it’s time to proceed further. Find communities that may potentially be facing the problem you’re looking to resolve. Ask how they’re currently dealing with it and if they’d be interested in trying out your way. More often than not, other people may already be solving the problem you plan to solve. They may be doing that using some tricks or manual solutions. Identify and talk to them about how they tackle such challenges, what is it that they struggle with, and whether or not they’d like to explore your way of doing that. Based on who your target audience is, join Facebook groups where your target audience is likely to assemble, gather feedback from your own network, or even consider talking to people on the streets. Remember, whenever you wish to solve someone's problem or fulfil an unmet need in the market, the first step is to get people to stop using other solutions or make changes in lifestyles. After ensuring the problem is worthy of being solved and something that people wouldn’t mind paying for, you’re ready to take the next step. Why do you think your solution is better? After taking the above steps, focus on the advantages and the distinguishing features of your solutions that set them apart from others. List them in a logical order and then explain why people will find more value in your solution. What value will it bring to them? Market Analysis Previously, we’d been assessing and validating our Value Assumptions. Ensuring the viability of your idea was their core purpose. Unfortunately, merely having a good idea to create a long-term profitable product does not suffice. Think about the different ways in which you make money out of your solution via Market Analysis and Business Model Assumptions. Define your potential target market 1. Narrow down your potential target market. Who is your ideal customer? Why should they pay for your solution? Targeting everyone essentially means that you’re not targeting anyone in particular. Concentrating on the appropriate target market is a good approach because it lets you maximize your returns on the time, money and energy you’ve invested. Secondly, it’s far easier to conduct  experiments in a narrow market. Try and define specific groups you wish to target with your service/product alongside their potential sources of revenue. Depending on your idea, you can even group them by job, interests, demographics, etc. Ensure that your target audience will be able to buy your products as the revenue source of each target will be different. Now, there are some industries where people are very unlikely to pay for additional services. As a case in point, the probability of people paying to use social media for communication purposes is very low. In such scenarios, use your discretion and prepare a draft of your . While it needn’t be your final blueprint, it will greatly simplify your task by helping you select more attractive markets. monetization strategy 2. Use Google Trends/Semrush to see how many people google solutions for the problem you are trying to solve Tools like Google Trends or Semrush give you an accurate picture of just how many people are seeking solutions to the problem you’re attempting to resolve. Most importantly, such tools allow you to check who these people are, know what their trends are, and provide a reasonable accurate estimate of the size of your target market. 3. Reach out to five well-known people in the market and ask for feedback on your idea After gathering the necessary information based on the previous steps, select a market (or a couple of them) that seems most promising. The next step in this phase is to gather feedback from specific groups of people relevant to your market. Doing this will give you plenty of actionable insights and the opportunity to further examine your idea from different perspectives. Create a portrait of your target audience In this phase, try to be as specific as possible about all relevant attributes of your target audience that describe them/their lives accurately and narrow them down further - age, gender, interests, position, personality, daily schedule, reading patterns, etc. Regardless of whether you describe a person or a company, depending on your sales model (B2B or B2C), the approach will remain unchanged. Consider the example from the . "1-Page Marketing Plan" book Conduct target user interviews According to Eric Migicovsky, a Y Combinator partner, the best firms are those whose founders establish a direct connection with their users. If you happen to be a founder, consider talking directly to the users of your product or solution. Eric cites a useful example of a structure that can be used to hold your user interviews. After tailoring the structure based on our needs and priorities, this is what we’ve come up with: In his talk, What makes the problem difficult for them? When did they last face it? What have they done to solve the problem? What are the things about existing solutions that they don’t like? How much would they pay to resolve the problem? Business Model Assumptions List your business model assumptions (based on the assumptions on what you assume your customers are going to pay and how much) After defining the problem to be solved, doing user interviews and knowing more about the target audience, it’s now time to brainstorm ways of monetizing your product. It’s a good idea to first get better informed about various before jotting down your assumptions about how your customers would be paying and how much. Put every idea on your mind on the table. Consider these two examples: types of business models I assume users will pay $15 per month to gain unlimited access to music on my platform (Subscription-based model) I assume concert managers will not mind paying $50 to promote their event on my platform if I implement advertising. (Ad-based) Growth Assumptions List your growth assumptions (what is your plan to rope in new users and how much cost would that involve) To survive and thrive, it’s critical to ensure your product grows smoothly and plan out ways in which you’ll attract new users or enter into new deals (partnerships). You’ll have a far better picture of your future marketing investment by writing down all possible growth hacking and marketing ideas. (prepare to get startled by the fact that budgets for marketing are often bigger than those for development purposes ;)) Does your growth engine generate new users from the actions of existing users? List out your acquisition loops. Getting new users effortlessly without spending any money is always a pleasant feeling. In that context, consider exploring which will make a great addition for your monetization strategies. acquisition loops The core idea behind acquisition loops is as follows: The more users you have, the more users are attracted. You can implement acquisition loops in the form of referral programs (e.g. Airbnb and Uber offer free coupons/rides for each referred user) or content loops that are user generated (Reddit, social networks, etc.). Natural acquisition loops are extremely important when you’re planning to execute an Ad-based business model, because the average revenue per user (ARPU) of ad-based models are lower in comparison to let’s say SaaS. That's why they must acquire new users cheaply to generate sustainable profits and reap massive profits. What’s your assumed revenue source? How would your profits/expenses grow as the number of customers grows (scalability assumption)? Needless to say, it’s not easy to accurately predict your expenses and profits. Some startups have funding to cover their expenses for two years or so until the venture starts making profits. If that’s not your case, pay close attention to this aspect and foresee your potential scalability issues and expenses. Competitor Analysis High-level SEO analysis This step needs us to continue working with product positioning and simultaneously address several key questions: How many people are interested in this? How difficult is it to rank on the first page of Google? What keywords should I use to promote my product or service? As you begin to answer these questions, it will become crystal clear that some keywords are more popular as compared to others. Some find it really hard to attain a high ranking on Google. Here, our objective is to compare word combinations that translate your business model to identify keywords with a balanced volume and keyword difficulty (KD). Utilize tools like Semrush, Ahrefs Keyword Finder, Google Ads Keyword tool, etc. to collect the information about Volume, CPC, KD and leading websites that rank by these keywords. Competitor overview Competitor overview is an extremely important step to undertake before proceeding further and it requires you to gather information about your competitors’ users, business models, revenue, etc. We this guide, we want to draw your attention to three attributes: Your Advantage How Hard to Replicate Your Advantage Why Should Customers Buy from You From these characteristics, it’s clear that you’ll compare your value proposition with your competitors and know what your unique selling proposition is. Learn more about your competitors Usually, you’ll get more insights from a personal interaction with your rivals than from conducting a basic competitor overview. It’s a good idea to reach out to them and know more about how their business is shaping up and the struggles they’re going through. Some effective ways of doing this include: Scheduling a demo as a user. When it comes to small startups, you’re more likely to be able to engage in a personal talk with product owners that are very interested in collecting user feedback. Contact product owners directly as their competitor. Generally, experienced startup owners are not opposed to the idea of talking to competitors and others from within the same industry. In most cases, they’ll frankly talk about their experiences/struggles, caution you about some pitfalls and share some additional information that you may find relevant. Conduct in-depth research on their personal pages and blogs. In some rare cases, founders openly reveal such as conversions, active users, revenue, etc. all the information about the product and its metrics Experimental Plan Definition Until now, you’re likely to have collected several interesting ideas of business models as well as growth assumptions. Now is the time to get them tested. How are you going to test your business and product positioning assumptions? Let’s face it. It’s not viable to build MVPs for every different assumption. Do the smart thing, instead. There are many tricks that you can implement to test ideas without actual development. We covered some of them in our blog post on the : Lean Startup approach Landing page. After using builders to develop simple websites with your value proposition, collect early-bird invites or sign-ups for testing the app. This is an effective way of evaluating the interest of users. Demo video. Several startups received funding only for the video that explained their vision because the product had already been built. Crowdfunding platform. This can be a useful option not only to validate your ideas, but also to identify early adopters and receive payments before you actually develop the product. Concierge MVP. Sometimes, you can test the idea manually rather than having a web platform or application. Where can you find your early adopters? Now you must locate people who’re facing the problem you plan to solve and get them to test your product/solution. They will not only give you valuable feedback, but also spread the word. By now, you should know how to find them because you’ve already talked to them in the Value Proposition stage. Crowdfunding platforms Facebook / Reddit / Telegram groups Current clients (if your business is running offline for now), etc. How are you going to collect feedback? Put differently, how will you communicate with your early adopters? Feedback forms Facebook groups / Telegram channels Email campaigns Experimenting Experimentation time! At this stage, you would have every information you need to test the assumptions and begin data collection to identify your product positioning and go-to-market business model. After launching your demo videos/ landing pages, go ahead and collect some data. Not every idea is explained in the same way, so you may want to quickly run a couple of Google ads to see people’s reaction to various keywords for product positioning. Putting the metrics on the table will let you see what experiment turned out to be most successful. Although we offer to check these metrics, it’s your call on whether or not to make changes in this list: Impressions CTR Visits Signups Conversion rate Cost per Signup Assumed Average Revenue per User You may also want to check our massive, extremely helpful guide on . Startup Metrics MVP Scope Definition If you’ve successfully reached this stage, congratulate yourself for making good progress! You now have a very good reason to believe that your idea is worth developing. Time to define the scope of work by preparing for MVP building: Define your go-to-market business model. Conduct interviews with customers who have signed up. Ask about their expectations and top-3 features they’re looking to implement in the product. Match their expectations with your pricing model. Do a cross-analysis of the interviews in order to find out most desirable features. Consider writing simple User Stories. Predict revenues for 100/1000/10000 paying customers and calculate your business model’s unit-economics Obtain estimates on the numerous features and determine the ones you wish to include in the MVP. Make it a point to only include the most important features that help validate your key assumptions. You can always add the rest at a later stage. Ensure that your budget for MVP is less than 30k-40k. Conclusion Yeah, it does look like a long, tedious process. But here’s the good news for you! You can test your ideas quickly and effectively after gaining some experience. Another piece of good news: if you happen to fail at any stage, there’s no reason to be upset about it, because it basically means that you successfully prevented your money from being wasted on developing a product that was likely to fail in the first place. Sometimes, a back-up option for a not-so-strong idea is to pivot it and repeat the cycle. Besides, we’re always ready to help in whatever way we can with the idea validation process and product development insights. All you need to do is to drop us a line and we’ll be happy to talk! Previously published at https://datarockets.com/blog/business/validate-startup-idea/

A Credible Framework to Validate Startup Ideas

Why Everyone is Wrong About the Future of Work™

কেন সবাই কাজের ভবিষ্যত সম্পর্কে ভুল ™

Warum alle falsch liegen, wenn sie über die Zukunft der Arbeit sprechen™

Por qué todo el mundo está equivocado sobre el futuro del trabajo™

Pourquoi tout le monde se trompe sur l’avenir du travail™

काम के भविष्य के बारे में हर कोई गलत क्यों है™

誰もが仕事の未来について間違っている理由™

왜 모든 사람이 미래의 일에 대해 틀렸는가?™

Por que todos estão errados sobre o futuro do trabalho™

Почему все ошибаются относительно будущего работы™

Neden Herkes Çalışmanın Geleceği Hakkında Yanılıyor?™

Tại sao mọi người đều sai về tương lai của công việc™

为什么每个人对工作的未来都有误解™

Here we go again. It was supposed to be the shining beacon of academic research, a tool that could sift through mountains of data, offer accurate citations, and provide credible sources to enhance scholarly work. Scholar GPT, the supposed breakthrough in AI-driven academic assistance, was meant to revolutionize the way we gather information. It was supposed to be a reliable resource that combined the power of cutting-edge technology with the expertise of years of research, right? WRONG. Once again, we are confronted with a harsh reality that we have all come to dread when it comes to AI: It can’t be trusted. In a shocking revelation, Scholar GPT—this supposed paragon of academic assistance. However, when I was using it I found it to be providing inaccurate information and statistics. The very thing it was supposed to excel at—accuracy—has turned out to be a total farce. This is not just a minor blip. This is a massive blow to the credibility of AI as a source of reliable academic content. Scholar GPT, which touts itself as being trained on the most valid and credible sources, was providing data that didn’t match up with reputable research and statistics And let’s not ignore the glaring fact that the platform claims to reference “credible” academic papers, yet several of these so-called references were completely fabricated or misquoted. At this point, anyone still believing that AI like CHATGPT, or in this case, Scholar GPT, is a trustworthy partner in academic research is either naive or seriously misinformed. I’m sorry, but when you trust a tool that generates fake statistics or pulls sources out of thin air, you are opening the door to disaster in your academic work. Sure, you might say, "But these AI models are constantly improving!" Really? Because the last time I checked, they’re still feeding you half-baked data that could ruin your credibility in a split second. It’s one thing for AI to make a mistake on trivial things, but when it comes to providing factual, verifiable information to the world of academia, there is no room for error. The repercussions of getting this wrong aren’t just some theoretical debate about technology—they can have real-world consequences. Imagine citing a non-existent study or quoting a statistic that’s completely fabricated—your academic integrity, your reputation, and your work could all go down the drain. How does AI expect to replace credible research when it doesn’t even know what reliability looks like? And don’t even get me started on how CHATGPT itself is still far from trustworthy. The promises of AI revolutionizing everything from writing to research have clearly been wildly overstated. Sure, it might be able to string together sentences that sound decent, but that’s about it. When it comes to fact-checking, cross-referencing, and providing legitimate citations, it falls flat on its face. Even after all the hype and supposed advancements, AI still struggles with the most basic and vital aspect of academic work: accuracy. It’s no longer just a matter of missing the mark on a few minor details—AI systems like Scholar GPT and CHATGPT are actively contributing to the spread of misinformation, and that is unacceptable. The reality is that we cannot afford to blindly rely on AI in fields that demand precision and scholarly integrity. So let’s all take a deep breath and stop pretending that these so-called "academic tools" are the holy grail of research. They’re not. They are not ready to replace the critical thinking, in-depth knowledge, and meticulous verification that true scholars have spent years honing. And, quite frankly, they may never be. Until AI can be trusted to consistently provide accurate, reliable, and verifiable information, it remains nothing more than a tool that could derail your academic efforts. If you’re still putting your faith in Scholar GPT or any other AI-driven platform for your academic work, I hate to break it to you—but you’re on shaky ground. The truth is, AI just isn’t ready for the world of academia yet. Here we go again. It was supposed to be the shining beacon of academic research, a tool that could sift through mountains of data, offer accurate citations, and provide credible sources to enhance scholarly work. Scholar GPT , the supposed breakthrough in AI-driven academic assistance, was meant to revolutionize the way we gather information. It was supposed to be a reliable resource that combined the power of cutting-edge technology with the expertise of years of research, right? Scholar GPT WRONG. WRONG. Once again, we are confronted with a harsh reality that we have all come to dread when it comes to AI: It can’t be trusted. It can’t be trusted. In a shocking revelation, Scholar GPT—this supposed paragon of academic assistance. However, when I was using it I found it to be providing inaccurate information and statistics. The very thing it was supposed to excel at—accuracy—has turned out to be a total farce. This is not just a minor blip. This is a massive blow to the credibility of AI as a source of reliable academic content. Scholar GPT, which touts itself as being trained on the most valid and credible sources, was providing data that didn’t match up with reputable research and statistics And let’s not ignore the glaring fact that the platform claims to reference “credible” academic papers, yet several of these so-called references were completely fabricated or misquoted. At this point, anyone still believing that AI like CHATGPT , or in this case, Scholar GPT, is a trustworthy partner in academic research is either naive or seriously misinformed. I’m sorry, but when you trust a tool that generates fake statistics or pulls sources out of thin air, you are opening the door to disaster in your academic work. CHATGPT Sure, you might say, "But these AI models are constantly improving!" Really? Because the last time I checked, they’re still feeding you half-baked data that could ruin your credibility in a split second. It’s one thing for AI to make a mistake on trivial things, but when it comes to providing factual, verifiable information to the world of academia, there is no room for error. no room for error. The repercussions of getting this wrong aren’t just some theoretical debate about technology—they can have real-world consequences. Imagine citing a non-existent study or quoting a statistic that’s completely fabricated—your academic integrity, your reputation, and your work could all go down the drain. How does AI expect to replace credible research when it doesn’t even know what reliability looks like? And don’t even get me started on how CHATGPT itself is still far from trustworthy. The promises of AI revolutionizing everything from writing to research have clearly been wildly overstated. Sure, it might be able to string together sentences that sound decent, but that’s about it. CHATGPT wildly overstated. When it comes to fact-checking, cross-referencing, and providing legitimate citations, it falls flat on its face. Even after all the hype and supposed advancements, AI still struggles with the most basic and vital aspect of academic work: accuracy. fact-checking, cross-referencing, and providing legitimate citations, It’s no longer just a matter of missing the mark on a few minor details—AI systems like Scholar GPT and CHATGPT are actively contributing to the spread of misinformation, and that is unacceptable. The reality is that we cannot afford to blindly rely on AI in fields that demand precision and scholarly integrity. we cannot afford to blindly rely on AI So let’s all take a deep breath and stop pretending that these so-called "academic tools" are the holy grail of research. They’re not. They are not ready to replace the critical thinking, in-depth knowledge, and meticulous verification that true scholars have spent years honing. And, quite frankly, they may never be. Until AI can be trusted to consistently provide accurate, reliable, and verifiable information, it remains nothing more than a tool that could derail your academic efforts. If you’re still putting your faith in Scholar GPT or any other AI-driven platform for your academic work, I hate to break it to you—but you’re on shaky ground. The truth is, AI just isn’t ready for the world of academia yet.

Scholar GPT Fails To Deliver – A Wake-Up Call For The Trustworthiness of AI in Academia

11 Best AI Chat Tools for Developers in 2024

For those who might not be deeply familiar with blockchain, can you explain why it's so crucial in today’s digital age? One of the core parts of the digital age is giving power back to the people; you see it in the way ordinary users can have their voices heard and businesses can be seen without the approval of gatekeepers. Blockchain is the highest form of this because it is fully democratized. Imagine a global computing system that belongs to everyone and no one at the same time. That is blockchain in a nutshell. Blockchain is important in the digital age because it puts people in control while making computer systems better and safer with things like Decentralized Autonomous Organizations (DAOs) and crypto wallets. What are some of the most innovative projects or products your company is working on right now? How do they address current market needs? We’ve been lucky to work behind the scenes of some truly amazing projects so far. We worked with top crypto exchange OKX to increase user growth through a PR campaign and banner ads. The result was over 492,000 user engagement and increased brand awareness. These days, we’re working with clients to better leverage influencer and PR marketing. Both are huge markets delivering results for many other industries and we believe that the blockchain space has even more to gain from it. What are the biggest challenges your company faces in the crypto/blockchain space, and how are you planning to overcome them? First, there’s the matter of regulation. Laws about how you can market blockchain products are always changing so we have to keep track of them to stay on the right side of the law. We also have to convince clients of the benefits of more ‘traditional’ advertising methods. Most of them understand digital ads and influencer sponsorships but getting them to do radio or billboards is sometimes a feat in itself. Then, of course, you have the holdout consumers who don’t see the value of Web3 just yet. How do you envision Web3 transforming the internet as we know it? What are the key benefits and potential drawbacks of this transition? Web3 is going to create an internet landscape where data and power are split across millions of nodes and not concentrated in a single palace. The benefit of this is that hacks, especially of widely used systems, will be close to impossible. It also means that users will have more control over their own data and content and can enjoy more privacy. The Web2 space has, with all of its perks, been dominated by big corporations like Google with centralized systems and near-monopolies on the Internet. Web3 is going to change that. Are there any traditions you would want the world of web3 to adopt from the web2 world? Web2 notably ushered in a new era of user-generated content and changed the way we share information thanks to the platforms it enabled. Web3 would do well to integrate this as it becomes a reality. Are there any challenges to transition from web2 to web3? There is an obvious reputational issue as some consumers and even businesses are reluctant to take the leap. Part of this is because they don’t understand how Web3 works and what it can do for them. As the space expands, better regulations will be needed to avoid it becoming a Wild West. Most of these issues arise because they are relatively new and should be addressed over time. Can you explain some of the technical advancements that are making Web3 possible? All the technologies that allow for decentralization are fast making Web3 a reality. You have blockchain which is the basis of things like cryptocurrency and NFTs. You also have smart contracts that allow transactions to be completed automatically and permissionlessly. From all these, we can begin to build a truly decentralized future. How can developers get involved in this space? Developers can get involved by, well, getting involved. Developing new tools and programs that leverage Web3 technologies and make them easier to use. We need all hands on deck to make Web3 a reality and many of our clients are proud to have worked with a wealth of developers. How do you think influencers and social media personalities impact the cryptocurrency market? They certainly influence the demand for tokens. We see this when influencers launch their own tokens or promote existing ones. They have the power to drive demand for every product you can imagine and crypto is no different. Do you see this as a positive or negative trend? It has the potential to be both. If influencers are using their platforms to encourage their fans to invest responsibly in worthwhile projects then it can be positive. If not, then it’s negative. TikTokers, Instagrammers, X (formerly Twitter) accounts -- how are they shaping the discourse? They’re amplifying every kind of crypto opinion there is. From giving verdicts about assets to discussing laws and even scandals, they help to cultivate an engaged community that has a vested interest in the success of the industry. What do you think is happening? Are these platforms credible sources for information? I think the industry is expanding and with this expansion comes a demand for content. These platforms can be credible sources depending on who you’re listening to. Misinformation is an issue in every corner of the internet so users need to be cautious. What do you believe are the strongest arguments in favor of cryptocurrencies and blockchain technology? These technologies give power to the people; historically underserved people can get access to financial services through DeFi, prosecuted populations can access funds through crypto, information can be stored forever on the blockchain, and even elections can be made fairer using this tech. There is something for everyone and if harnessed properly, blockchain can help humanity become its best self. How do you respond to critics? We respond by showing the value we deliver to clients. You can argue about tech preferences but you can’t argue with years of an impressive track record. Blockchain and cryptocurrencies do have their detractors. What’s an argument or rationale you use to convince naysayers or those on the fence about blockchain and crypto? Our argument would simply be to take a look at all the amazing things happening in the space. The crypto industry is complex but that is to be expected of any new sector. Even outside of crypto, look at all the ways blockchain is being implemented and it’s pretty obvious that it has a lot to offer. What advice would you give to someone who is just starting to explore the world of cryptocurrencies and blockchain technology? Our advice would be to do your research and engage with the community. Succeeding with blockchain and crypto is all about knowledge and research plus community is how you get it. Also, try to have fun with it. Any sources to check out? Any media sites to visit? Any X (Twitter) accounts to follow? Share the deets! Hackernoon, definitely (wink) but also BeInCrypto, Cointelegraph, Coindesk, and the like. These sites have been giving top-notch blockchain reporting for years so we highly recommend them. Twitter/X founder Jack Dorsey, Ethereum founder Vitalik Buterin, POMP, and Gemini-Cofounder Tyler Winklevoss are some insightful personalities we love on Twitter/X. How do you see events like HackerNoon’s Startups of The Year shaping public understanding and engagement of the crypto and blockchain industry? It’s great. We see it the way you might see awards like the MTV VMAs; it lets the world know that certain acts (or businesses, in this case) have a solid community behind them. By giving businesses in the space a platform for recognition, skeptics can see that they are as legitimate as any other start-up. It’s also great for morale; a niche industry like blockchain can sometimes feel isolated but initiatives like this bring the community together and show us how far we have come. Why we decided to participate in HackerNoon's Startups of The Year awards We’re a marketing agency so we’re all about collaborating and connecting others. The HackerNoon's Startups of The Year awards give us a chance to connect with other businesses in the space as well as the community that supports our work. As the awards unravel, we’re learning more about other firms that operate in the same sector and this creates the avenue for possible collaboration. Similarly, other potential partners and clients can find us and this is a win for everyone. We’re proud to be part of the blockchain community and this is a great opportunity to connect even more with it. Final Thoughts Proelo.io has worked behind the scenes of some of the biggest marketing campaigns in the blockchain industry for years now. We’re immensely proud of what we do and would be honored to receive HackerNoon's Startups of The Year award. We find ourselves in great company with a wealth of respected companies and hope to keep serving our industry for years to come. Vote for us today! For those who might not be deeply familiar with blockchain, can you explain why it's so crucial in today’s digital age? One of the core parts of the digital age is giving power back to the people; you see it in the way ordinary users can have their voices heard and businesses can be seen without the approval of gatekeepers. Blockchain is the highest form of this because it is fully democratized. Imagine a global computing system that belongs to everyone and no one at the same time. That is blockchain in a nutshell. Blockchain is important in the digital age because it puts people in control while making computer systems better and safer with things like Decentralized Autonomous Organizations (DAOs) and crypto wallets. What are some of the most innovative projects or products your company is working on right now? How do they address current market needs? We’ve been lucky to work behind the scenes of some truly amazing projects so far. We worked with top crypto exchange OKX to increase user growth through a PR campaign and banner ads. The result was over 492,000 user engagement and increased brand awareness. These days, we’re working with clients to better leverage influencer and PR marketing. Both are huge markets delivering results for many other industries and we believe that the blockchain space has even more to gain from it. What are the biggest challenges your company faces in the crypto/blockchain space, and how are you planning to overcome them? First, there’s the matter of regulation. Laws about how you can market blockchain products are always changing so we have to keep track of them to stay on the right side of the law. We also have to convince clients of the benefits of more ‘traditional’ advertising methods. Most of them understand digital ads and influencer sponsorships but getting them to do radio or billboards is sometimes a feat in itself. Then, of course, you have the holdout consumers who don’t see the value of Web3 just yet. How do you envision Web3 transforming the internet as we know it? What are the key benefits and potential drawbacks of this transition? Web3 is going to create an internet landscape where data and power are split across millions of nodes and not concentrated in a single palace. The benefit of this is that hacks, especially of widely used systems, will be close to impossible. It also means that users will have more control over their own data and content and can enjoy more privacy. The Web2 space has, with all of its perks, been dominated by big corporations like Google with centralized systems and near-monopolies on the Internet. Web3 is going to change that. Are there any traditions you would want the world of web3 to adopt from the web2 world? Web2 notably ushered in a new era of user-generated content and changed the way we share information thanks to the platforms it enabled. Web3 would do well to integrate this as it becomes a reality. Are there any challenges to transition from web2 to web3? There is an obvious reputational issue as some consumers and even businesses are reluctant to take the leap. Part of this is because they don’t understand how Web3 works and what it can do for them. As the space expands, better regulations will be needed to avoid it becoming a Wild West. Most of these issues arise because they are relatively new and should be addressed over time. Can you explain some of the technical advancements that are making Web3 possible? All the technologies that allow for decentralization are fast making Web3 a reality. You have blockchain which is the basis of things like cryptocurrency and NFTs. You also have smart contracts that allow transactions to be completed automatically and permissionlessly. From all these, we can begin to build a truly decentralized future. How can developers get involved in this space? Developers can get involved by, well, getting involved. Developing new tools and programs that leverage Web3 technologies and make them easier to use. We need all hands on deck to make Web3 a reality and many of our clients are proud to have worked with a wealth of developers. How do you think influencers and social media personalities impact the cryptocurrency market? They certainly influence the demand for tokens. We see this when influencers launch their own tokens or promote existing ones. They have the power to drive demand for every product you can imagine and crypto is no different. Do you see this as a positive or negative trend? It has the potential to be both. If influencers are using their platforms to encourage their fans to invest responsibly in worthwhile projects then it can be positive. If not, then it’s negative. TikTokers, Instagrammers, X (formerly Twitter) accounts -- how are they shaping the discourse? They’re amplifying every kind of crypto opinion there is. From giving verdicts about assets to discussing laws and even scandals, they help to cultivate an engaged community that has a vested interest in the success of the industry. What do you think is happening? Are these platforms credible sources for information? I think the industry is expanding and with this expansion comes a demand for content. These platforms can be credible sources depending on who you’re listening to. Misinformation is an issue in every corner of the internet so users need to be cautious. What do you believe are the strongest arguments in favor of cryptocurrencies and blockchain technology? These technologies give power to the people; historically underserved people can get access to financial services through DeFi, prosecuted populations can access funds through crypto, information can be stored forever on the blockchain, and even elections can be made fairer using this tech. There is something for everyone and if harnessed properly, blockchain can help humanity become its best self. How do you respond to critics? We respond by showing the value we deliver to clients. You can argue about tech preferences but you can’t argue with years of an impressive track record. Blockchain and cryptocurrencies do have their detractors. What’s an argument or rationale you use to convince naysayers or those on the fence about blockchain and crypto? Our argument would simply be to take a look at all the amazing things happening in the space. The crypto industry is complex but that is to be expected of any new sector. Even outside of crypto, look at all the ways blockchain is being implemented and it’s pretty obvious that it has a lot to offer. What advice would you give to someone who is just starting to explore the world of cryptocurrencies and blockchain technology? Our advice would be to do your research and engage with the community. Succeeding with blockchain and crypto is all about knowledge and research plus community is how you get it. Also, try to have fun with it. Any sources to check out? Any media sites to visit? Any X (Twitter) accounts to follow? Share the deets! Hackernoon, definitely (wink) but also BeInCrypto, Cointelegraph, Coindesk, and the like. These sites have been giving top-notch blockchain reporting for years so we highly recommend them. Twitter/X founder Jack Dorsey, Ethereum founder Vitalik Buterin, POMP, and Gemini-Cofounder Tyler Winklevoss are some insightful personalities we love on Twitter/X. How do you see events like HackerNoon’s Startups of The Year shaping public understanding and engagement of the crypto and blockchain industry? It’s great. We see it the way you might see awards like the MTV VMAs; it lets the world know that certain acts (or businesses, in this case) have a solid community behind them. By giving businesses in the space a platform for recognition, skeptics can see that they are as legitimate as any other start-up. It’s also great for morale; a niche industry like blockchain can sometimes feel isolated but initiatives like this bring the community together and show us how far we have come. Why we decided to participate in HackerNoon's Startups of The Year awards We’re a marketing agency so we’re all about collaborating and connecting others. The HackerNoon's Startups of The Year awards give us a chance to connect with other businesses in the space as well as the community that supports our work. As the awards unravel, we’re learning more about other firms that operate in the same sector and this creates the avenue for possible collaboration. Similarly, other potential partners and clients can find us and this is a win for everyone. We’re proud to be part of the blockchain community and this is a great opportunity to connect even more with it. Final Thoughts Proelo.io has worked behind the scenes of some of the biggest marketing campaigns in the blockchain industry for years now. We’re immensely proud of what we do and would be honored to receive HackerNoon's Startups of The Year award. We find ourselves in great company with a wealth of respected companies and hope to keep serving our industry for years to come. Vote for us today! Vote for us today! Vote for us today! Vote for us today!

Meet PROLEO.IO: Startups of The Year 2024 Nominee 

የ HackerNoon የአመቱ ጅምር ሽልማት፡ ምላሾች

Прэмія «Стартапы года» ад HackerNoon: адказы

Награда за стартиращи компании на годината на HackerNoon: Отговори

Premio Startups del año de HackerNoon: respuestas

HackerNoon-en Urteko Startups saria: erantzunak

Prim HackerNoon pou Startups pou Ane a: Repons

A HackerNoon Az év startupjai díja: Válaszok

HackerNoonの今年のスタートアップ賞：反応

HackerNoon's Startups of the Year Award: Valiny

د هیکرنون د کال د پیل جایزه: ځوابونه

Sagwadi ra HackerNoon ra Masungulo ya Lembe: Tinhlamulo

I-HackerNoon's Startups of the Year Award: Iimpendulo

Here's Why We Need To Build A Lunar Economy - Now!

Journalism, education, and creative fields are on the brink of being devoured by AI. The curtain may soon fall on these industries as we know them, as automation threatens not only jobs but the very integrity of these professions. Misinformation Overload AI’s ability to generate realistic yet false content has already proven to be a formidable threat. In journalism, where trust is the bedrock of the profession, deepfakes and fabricated news articles can easily be mistaken for legitimate reports. While misinformation is not a new phenomenon, AI supercharges it, creating a storm of falsehoods that even the most seasoned reporters may struggle to counter. The line between reality and fabrication is becoming perilously thin, and as trust in the media erodes, the foundations of journalism may crumble. Similarly, in education, students and teachers alike are at risk of being duped by AI-generated content that mimics authoritative sources. AI can produce essays, assignments, and even entire lesson plans with such polish that they seem credible at first glance. But beneath the surface, much of this content lacks depth and accuracy, leaving educators fighting an uphill battle to foster critical thinking in a world flooded with hollow AI creations. Job Displacement in the Age of Automation The promise of AI lies in its efficiency. In newsrooms and classrooms across the globe, this efficiency is poised to become a double-edged sword. Why pay journalists to write basic news stories when AI can churn out articles in seconds at a fraction of the cost? The automation of content generation risks sidelining human writers, pushing them to the fringes of an industry they once dominated. In education, AI-powered tutoring, grading, and content-generation platforms are creeping in, threatening to make teachers redundant in certain roles. While these tools may offer quick fixes to labor shortages or large class sizes, they also risk hollowing out the teaching profession itself. If we rely too heavily on AI to teach, will we end up with students who only know how to follow a machine’s logic rather than think critically for themselves? The creative fields, too, face a grim future. AI can now compose music, generate art, and even write scripts. What happens to the graphic designers, musicians, and writers who used to be sought after for their originality and skill? As AI-generated content floods the market, human creators risk being sidelined and relegated to niche roles while algorithms take over the mainstream. The Erosion of Quality There’s another less visible yet insidious aspect to AI’s rise: the erosion of quality and creative integrity. Journalism, at its best, involves nuance, investigation, and storytelling—qualities that are lost when AI is used to churn out formulaic articles. Sure, AI can write grammatically sound sentences, but can it craft an investigative report that changes the course of a political scandal? Can it unearth hidden truths or provide context to complex global issues? The answer, for now, is no. In education, the use of AI-generated essays and assignments could create a generation of students who don’t fully engage with the material. If students learn to rely on AI to do the thinking for them, the purpose of education—to foster critical inquiry—could be fatally undermined. Moreover, if teachers themselves begin to lean too heavily on AI to generate lesson plans, the quality of education may degrade into cookie-cutter content delivery devoid of real intellectual engagement. For creatives, the danger is equally real. Art, music, and writing are deeply human expressions driven by emotion, experience, and unique perspectives. AI lacks these attributes. While AI can mimic styles and create technically proficient works, it cannot replace the human spirit behind them. If AI-generated art becomes the norm, we may find ourselves living in a world where originality and authenticity are casualties of convenience. Intellectual Property and the Ethics of Creation Beyond the issue of quality is the ethical quagmire of intellectual property. AI models learn from vast amounts of data, often scraping content from the internet without proper attribution. Journalists, educators, and artists who have spent their lives honing their craft are now seeing their work repurposed by machines with little to no compensation or recognition. In journalism, AI’s ability to scrape and regurgitate content raises concerns about plagiarism, while in education, students could unwittingly submit AI-generated essays containing copyrighted material, leading to legal entanglements. Creators in the arts are facing an even more direct assault, as AI systems trained on their work can reproduce styles that are unmistakably theirs, yet no legal frameworks exist to protect these creators from such exploitation. The Dependence Dilemma Perhaps the greatest long-term risk is the dependence that generative AI fosters. The more we rely on AI to produce news, educate students, and create art, the more we risk losing the very skills that make us human. Journalists, who once took pride in their ability to uncover hidden stories, may lose their investigative edge. Students may forgo deep learning for quick answers. Creatives may lose the very drive that pushes them to innovate. Once these skills are eroded, can they ever be fully restored? If we reach a point where society’s critical thinkers and creators are replaced by algorithms, we may find that we’ve sacrificed more than just jobs—we’ve sacrificed human ingenuity, creativity, and, perhaps most dangerously, our ability to question the world around us. A Call for Caution Generative AI is not going away. It is powerful, efficient, and potentially revolutionary. But, like all disruptive technologies, it must be managed with care. If we do not take steps to protect the professions of journalism, education, and the creative arts, we risk losing them to machines that, for all their capabilities, cannot replace the human qualities that make these fields so vital to our society. The curtain may be poised to fall, but it doesn’t have to. Thoughtful regulation, ethical frameworks, and a recommitment to human skill and creativity can ensure that AI is a tool for enhancement, not a harbinger of the end. For now, however, the future looks bleak, and we must act quickly if we hope to change the narrative. About Me: 25+ year IT veteran combining data, AI, risk management, strategy, and education. 4x hackathon winner and social impact from data advocate. Currently working to jumpstart the AI workforce in the Philippines. Learn more about me here: https://docligot.com Journalism, education, and creative fields are on the brink of being devoured by AI. The curtain may soon fall on these industries as we know them, as automation threatens not only jobs but the very integrity of these professions. Misinformation Overload AI’s ability to generate realistic yet false content has already proven to be a formidable threat. In journalism, where trust is the bedrock of the profession, deepfakes and fabricated news articles can easily be mistaken for legitimate reports. While misinformation is not a new phenomenon, AI supercharges it , creating a storm of falsehoods that even the most seasoned reporters may struggle to counter. The line between reality and fabrication is becoming perilously thin, and as trust in the media erodes, the foundations of journalism may crumble. AI supercharges it Similarly, in education, students and teachers alike are at risk of being duped by AI-generated content that mimics authoritative sources . AI can produce essays, assignments, and even entire lesson plans with such polish that they seem credible at first glance. But beneath the surface, much of this content lacks depth and accuracy, leaving educators fighting an uphill battle to foster critical thinking in a world flooded with hollow AI creations. AI-generated content that mimics authoritative sources Job Displacement in the Age of Automation The promise of AI lies in its efficiency. In newsrooms and classrooms across the globe, this efficiency is poised to become a double-edged sword. Why pay journalists to write basic news stories when AI can churn out articles in seconds at a fraction of the cost ? The automation of content generation risks sidelining human writers, pushing them to the fringes of an industry they once dominated. AI can churn out articles in seconds at a fraction of the cost In education, AI-powered tutoring, grading, and content-generation platforms are creeping in, threatening to make teachers redundant in certain roles . While these tools may offer quick fixes to labor shortages or large class sizes, they also risk hollowing out the teaching profession itself. If we rely too heavily on AI to teach, will we end up with students who only know how to follow a machine’s logic rather than think critically for themselves? teachers redundant in certain roles The creative fields, too, face a grim future. AI can now compose music, generate art, and even write scripts . What happens to the graphic designers, musicians, and writers who used to be sought after for their originality and skill? As AI-generated content floods the market, human creators risk being sidelined and relegated to niche roles while algorithms take over the mainstream. compose music, generate art, and even write scripts The Erosion of Quality There’s another less visible yet insidious aspect to AI’s rise: the erosion of quality and creative integrity . Journalism, at its best, involves nuance, investigation, and storytelling—qualities that are lost when AI is used to churn out formulaic articles. Sure, AI can write grammatically sound sentences, but can it craft an investigative report that changes the course of a political scandal? Can it unearth hidden truths or provide context to complex global issues? The answer, for now, is no. the erosion of quality and creative integrity In education, the use of AI-generated essays and assignments could create a generation of students who don’t fully engage with the material. If students learn to rely on AI to do the thinking for them, the purpose of education—to foster critical inquiry— could be fatally undermined . Moreover, if teachers themselves begin to lean too heavily on AI to generate lesson plans, the quality of education may degrade into cookie-cutter content delivery devoid of real intellectual engagement. could be fatally undermined For creatives, the danger is equally real. Art, music, and writing are deeply human expressions driven by emotion, experience, and unique perspectives. AI lacks these attributes. While AI can mimic styles and create technically proficient works, it cannot replace the human spirit behind them . If AI-generated art becomes the norm, we may find ourselves living in a world where originality and authenticity are casualties of convenience. it cannot replace the human spirit behind them Intellectual Property and the Ethics of Creation Beyond the issue of quality is the ethical quagmire of intellectual property. AI models learn from vast amounts of data, often scraping content from the internet without proper attribution . Journalists, educators, and artists who have spent their lives honing their craft are now seeing their work repurposed by machines with little to no compensation or recognition. scraping content from the internet without proper attribution In journalism, AI’s ability to scrape and regurgitate content raises concerns about plagiarism, while in education, students could unwittingly submit AI-generated essays containing copyrighted material, leading to legal entanglements. Creators in the arts are facing an even more direct assault, as AI systems trained on their work can reproduce styles that are unmistakably theirs, yet no legal frameworks exist to protect these creators from such exploitation. The Dependence Dilemma Perhaps the greatest long-term risk is the dependence that generative AI fosters . The more we rely on AI to produce news, educate students, and create art, the more we risk losing the very skills that make us human. Journalists, who once took pride in their ability to uncover hidden stories, may lose their investigative edge. Students may forgo deep learning for quick answers. Creatives may lose the very drive that pushes them to innovate. dependence that generative AI fosters Once these skills are eroded, can they ever be fully restored? If we reach a point where society’s critical thinkers and creators are replaced by algorithms, we may find that we’ve sacrificed more than just jobs—we’ve sacrificed human ingenuity, creativity, and, perhaps most dangerously, our ability to question the world around us. A Call for Caution Generative AI is not going away. It is powerful, efficient, and potentially revolutionary. But, like all disruptive technologies, it must be managed with care. If we do not take steps to protect the professions of journalism, education, and the creative arts, we risk losing them to machines that, for all their capabilities, cannot replace the human qualities that make these fields so vital to our society. The curtain may be poised to fall, but it doesn’t have to. Thoughtful regulation, ethical frameworks, and a recommitment to human skill and creativity can ensure that AI is a tool for enhancement, not a harbinger of the end. For now, however, the future looks bleak, and we must act quickly if we hope to change the narrative. About Me: 25+ year IT veteran combining data, AI, risk management, strategy, and education. 4x hackathon winner and social impact from data advocate. Currently working to jumpstart the AI workforce in the Philippines. Learn more about me here: https://docligot.com https://docligot.com

AI is Eating Journalism, Education, and Creatives

AI ጋዜጠኝነትን፣ ትምህርትን እና ፈጠራዎችን እየበላ ነው።

ШІ з'ядае журналістыку, адукацыю і творчасць

La IA se está comiendo el periodismo, la educación y los creativos

AI kazetaritza, hezkuntza eta sormenak jatea da

هوش مصنوعی روزنامه نگاری، آموزش و خلاقیت را می خورد

AIがジャーナリズム、教育、クリエイティブを飲み込んでいる

AI - бұл журналистика, білім және шығармашылықпен айналысады

AI ezali Kolia Journalisme, Éducation, na ba Créatifs

AI ēd žurnālistiku, izglītību un radošumu

AI бол сэтгүүл зүй, боловсрол, бүтээлч зүйлийг идэж байна

AI iri Kudya Journalism, Dzidzo, uye Zvigadzirwa

AI аст, мехӯрад журналистика, маориф ва эҷодкорӣ

13 Cybercrime Facts That Will Give You Chills

13 факта за киберпрестъпността, които ще ви побият тръпки

13টি সাইবার অপরাধের তথ্য যা আপনাকে শান্ত করবে

13 hechos sobre delitos cibernéticos que te pondrán los pelos de punta

Hotzikara emango dizuten ziberkrimenaren 13 gertakari

ゾッとするサイバー犯罪の13の事実

13 ការពិតអំពីឧក្រិដ្ឋកម្មតាមអ៊ីនធឺណិតដែលនឹងផ្តល់ឱ្យអ្នកនូវភាពត្រជាក់

13 Fakta Jenayah Siber Yang Akan Menggigil Anda

13 faktów na temat cyberprzestępczości, które wywołają u Ciebie dreszcze

13 fatos sobre crimes cibernéticos que vão te dar arrepios

Sizi Tüyler Ürpertecek 13 Siber Suç Gerçeği

13 Sự thật về tội phạm mạng sẽ khiến bạn rùng mình

Iinyani ezili-13 zoBugebenga be-Cyberculos eziya kukunika ukuzola

As promised, this is the second (and final) part of the Startup Acquisition article, which will walk startup founders and leaders through the due diligence and negotiation processes. You can find the first part of the article here. Prepare a quantitative view of the business - financial statements, KPIs, and audit reports: This is perhaps one of the most critical steps to ensure that you’re representing the business accurately and in good faith to potential acquirers. The leadership team (and specifically the CFO, if you have one) should work with your accountant to prepare the historical financial statements (income statement, cash flow statement, and balance sheet) and gather the relevant audit reports. In Software/SaaS acquisitions, buyers will also focus on key metrics such as ARR growth, gross and net revenue retention, logo retention, gross margins, operating expenses, and burn rate. Most sellers also provide projected financials that show the business’ expected financial trajectory and serve as an important tool to convey the attractiveness of the business – especially if you have a credible methodology to forecast your revenue and ARR for the next couple of years based on existing sales pipeline and customer contracts.


Getting to the business end of the process – letter of intent (LOI) and due diligence (DD): Once you’ve selected a potential buyer based on initial conversations and bids, you will typically sign a (non-binding) letter of intent (LOI) that will give the selected buyer 4-8 weeks of exclusivity to complete due diligence and negotiation of final agreements. The buyer will also agree to a strict confidentiality clause as part of the LOI. In this phase, the buyer will both conduct management meetings and ask for documents / files that cover the product and technology, historical business performance (see step 4 above), key customer contracts, sales pipeline, employment contracts, and other relevant details about the operations, tax filings, and legal structure of the business. The seller typically opens a virtual data room (VDR) which is an online portal to share all these documents and answer questions from the buyer.
If you have an investment bank representing you, the bank will work with you to prepare you for the relevant meetings and collect the data. However, if you don’t have a bank representing you, the leadership team will need to work with your lawyer to gather all this information and answer relevant questions from the buyer. Note that this process is time consuming, and you might not always have what the buyer is asking for. When you don’t have the information, it’s important to understand the buyer’s intent behind specific requests and work with them to answer questions based on available information.

Getting to the finish line and preparing for what comes next: First thing to keep in mind is that the LOI is a non-binding agreement. If through the diligence process the buyer finds concerns with the business, they have the right to walk away from the transaction. Most buyers are mindful of their reputation in the M&A circles and will only walk away if there are issues that are real deal breakers, but you must be prepared for this eventuality.
Assuming the diligence process goes smoothly, about 2-3 weeks before the exclusivity period runs out, you should start working with your lawyer to negotiate a sale & purchase agreement (SPA) and employment contracts (for employees who will work for the buyer after the acquisition). Startup founders should think carefully about what percentage of their payout they’re willing to receive in stock (i.e. buyers’ stock) and how long (and in which role) they are willing to work for the buyer after the acquisition. Buyers like paying part of the acquisition price in stock because it both reduces the upfront cash payment and helps ensure that the seller has a vested interest in making the acquisition a success. M&A processes are not easy to navigate and require dealing with a lot of scrutiny and uncertainty along the way. Therefore, it’s important to be aware of what you’re getting into and prepare beforehand to make the process as streamlined as possible. Hopefully this article was a helpful start for those who are new to the process and stay tuned for more content related to startups, technology, and M&A! As promised, this is the second (and final) part of the Startup Acquisition article, which will walk startup founders and leaders through the due diligence and negotiation processes. You can find the first part of the article here . here Prepare a quantitative view of the business - financial statements, KPIs, and audit reports: This is perhaps one of the most critical steps to ensure that you’re representing the business accurately and in good faith to potential acquirers. The leadership team (and specifically the CFO, if you have one) should work with your accountant to prepare the historical financial statements (income statement, cash flow statement, and balance sheet) and gather the relevant audit reports. In Software/SaaS acquisitions, buyers will also focus on key metrics such as ARR growth, gross and net revenue retention, logo retention, gross margins, operating expenses, and burn rate. Most sellers also provide projected financials that show the business’ expected financial trajectory and serve as an important tool to convey the attractiveness of the business – especially if you have a credible methodology to forecast your revenue and ARR for the next couple of years based on existing sales pipeline and customer contracts. Getting to the business end of the process – letter of intent (LOI) and due diligence (DD): Once you’ve selected a potential buyer based on initial conversations and bids, you will typically sign a (non-binding) letter of intent (LOI) that will give the selected buyer 4-8 weeks of exclusivity to complete due diligence and negotiation of final agreements. The buyer will also agree to a strict confidentiality clause as part of the LOI. In this phase, the buyer will both conduct management meetings and ask for documents / files that cover the product and technology, historical business performance (see step 4 above), key customer contracts, sales pipeline, employment contracts, and other relevant details about the operations, tax filings, and legal structure of the business. The seller typically opens a virtual data room (VDR) which is an online portal to share all these documents and answer questions from the buyer.
If you have an investment bank representing you, the bank will work with you to prepare you for the relevant meetings and collect the data. However, if you don’t have a bank representing you, the leadership team will need to work with your lawyer to gather all this information and answer relevant questions from the buyer. Note that this process is time consuming, and you might not always have what the buyer is asking for. When you don’t have the information, it’s important to understand the buyer’s intent behind specific requests and work with them to answer questions based on available information. Getting to the finish line and preparing for what comes next: First thing to keep in mind is that the LOI is a non-binding agreement. If through the diligence process the buyer finds concerns with the business, they have the right to walk away from the transaction. Most buyers are mindful of their reputation in the M&A circles and will only walk away if there are issues that are real deal breakers, but you must be prepared for this eventuality.
Assuming the diligence process goes smoothly, about 2-3 weeks before the exclusivity period runs out, you should start working with your lawyer to negotiate a sale & purchase agreement (SPA) and employment contracts (for employees who will work for the buyer after the acquisition). Startup founders should think carefully about what percentage of their payout they’re willing to receive in stock (i.e. buyers’ stock) and how long (and in which role) they are willing to work for the buyer after the acquisition. Buyers like paying part of the acquisition price in stock because it both reduces the upfront cash payment and helps ensure that the seller has a vested interest in making the acquisition a success. Prepare a quantitative view of the business - financial statements, KPIs, and audit reports: This is perhaps one of the most critical steps to ensure that you’re representing the business accurately and in good faith to potential acquirers. The leadership team (and specifically the CFO, if you have one) should work with your accountant to prepare the historical financial statements (income statement, cash flow statement, and balance sheet) and gather the relevant audit reports. In Software/SaaS acquisitions, buyers will also focus on key metrics such as ARR growth, gross and net revenue retention, logo retention, gross margins, operating expenses, and burn rate. Most sellers also provide projected financials that show the business’ expected financial trajectory and serve as an important tool to convey the attractiveness of the business – especially if you have a credible methodology to forecast your revenue and ARR for the next couple of years based on existing sales pipeline and customer contracts. Prepare a quantitative view of the business - financial statements, KPIs, and audit reports: This is perhaps one of the most critical steps to ensure that you’re representing the business accurately and in good faith to potential acquirers. The leadership team (and specifically the CFO, if you have one) should work with your accountant to prepare the historical financial statements (income statement, cash flow statement, and balance sheet) and gather the relevant audit reports. In Software/SaaS acquisitions, buyers will also focus on key metrics such as ARR growth, gross and net revenue retention, logo retention, gross margins, operating expenses, and burn rate. Most sellers also provide projected financials that show the business’ expected financial trajectory and serve as an important tool to convey the attractiveness of the business – especially if you have a credible methodology to forecast your revenue and ARR for the next couple of years based on existing sales pipeline and customer contracts. Prepare a quantitative view of the business - financial statements, KPIs, and audit reports: Getting to the business end of the process – letter of intent (LOI) and due diligence (DD): Once you’ve selected a potential buyer based on initial conversations and bids, you will typically sign a (non-binding) letter of intent (LOI) that will give the selected buyer 4-8 weeks of exclusivity to complete due diligence and negotiation of final agreements. The buyer will also agree to a strict confidentiality clause as part of the LOI. In this phase, the buyer will both conduct management meetings and ask for documents / files that cover the product and technology, historical business performance (see step 4 above), key customer contracts, sales pipeline, employment contracts, and other relevant details about the operations, tax filings, and legal structure of the business. The seller typically opens a virtual data room (VDR) which is an online portal to share all these documents and answer questions from the buyer. If you have an investment bank representing you, the bank will work with you to prepare you for the relevant meetings and collect the data. However, if you don’t have a bank representing you, the leadership team will need to work with your lawyer to gather all this information and answer relevant questions from the buyer. Note that this process is time consuming, and you might not always have what the buyer is asking for. When you don’t have the information, it’s important to understand the buyer’s intent behind specific requests and work with them to answer questions based on available information. Getting to the business end of the process – letter of intent (LOI) and due diligence (DD): Once you’ve selected a potential buyer based on initial conversations and bids, you will typically sign a (non-binding) letter of intent (LOI) that will give the selected buyer 4-8 weeks of exclusivity to complete due diligence and negotiation of final agreements. The buyer will also agree to a strict confidentiality clause as part of the LOI. In this phase, the buyer will both conduct management meetings and ask for documents / files that cover the product and technology, historical business performance (see step 4 above), key customer contracts, sales pipeline, employment contracts, and other relevant details about the operations, tax filings, and legal structure of the business. The seller typically opens a virtual data room (VDR) which is an online portal to share all these documents and answer questions from the buyer. Getting to the business end of the process – letter of intent (LOI) and due diligence (DD): If you have an investment bank representing you, the bank will work with you to prepare you for the relevant meetings and collect the data. However, if you don’t have a bank representing you, the leadership team will need to work with your lawyer to gather all this information and answer relevant questions from the buyer. Note that this process is time consuming, and you might not always have what the buyer is asking for. When you don’t have the information, it’s important to understand the buyer’s intent behind specific requests and work with them to answer questions based on available information. Getting to the finish line and preparing for what comes next: First thing to keep in mind is that the LOI is a non-binding agreement. If through the diligence process the buyer finds concerns with the business, they have the right to walk away from the transaction. Most buyers are mindful of their reputation in the M&A circles and will only walk away if there are issues that are real deal breakers, but you must be prepared for this eventuality. Assuming the diligence process goes smoothly, about 2-3 weeks before the exclusivity period runs out, you should start working with your lawyer to negotiate a sale & purchase agreement (SPA) and employment contracts (for employees who will work for the buyer after the acquisition). Startup founders should think carefully about what percentage of their payout they’re willing to receive in stock (i.e. buyers’ stock) and how long (and in which role) they are willing to work for the buyer after the acquisition. Buyers like paying part of the acquisition price in stock because it both reduces the upfront cash payment and helps ensure that the seller has a vested interest in making the acquisition a success. Getting to the finish line and preparing for what comes next: First thing to keep in mind is that the LOI is a non-binding agreement. If through the diligence process the buyer finds concerns with the business, they have the right to walk away from the transaction. Most buyers are mindful of their reputation in the M&A circles and will only walk away if there are issues that are real deal breakers, but you must be prepared for this eventuality. Getting to the finish line and preparing for what comes next: Assuming the diligence process goes smoothly, about 2-3 weeks before the exclusivity period runs out, you should start working with your lawyer to negotiate a sale & purchase agreement (SPA) and employment contracts (for employees who will work for the buyer after the acquisition). Startup founders should think carefully about what percentage of their payout they’re willing to receive in stock (i.e. buyers’ stock) and how long (and in which role) they are willing to work for the buyer after the acquisition. Buyers like paying part of the acquisition price in stock because it both reduces the upfront cash payment and helps ensure that the seller has a vested interest in making the acquisition a success. M&A processes are not easy to navigate and require dealing with a lot of scrutiny and uncertainty along the way. Therefore, it’s important to be aware of what you’re getting into and prepare beforehand to make the process as streamlined as possible. Hopefully this article was a helpful start for those who are new to the process and stay tuned for more content related to startups, technology, and M&A!

Startup Acquisitions: How to Navigate an Acquisition Process as a Seller (Part 2 of 2)

Adquisiciones de empresas emergentes: cómo abordar un proceso de adquisición como vendedor (segunda parte de dos)

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