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Equity
Don't forget to jargon check your AI
Sep 27, 2023
Nathan Baschez, Co-founder and CEO of Lex, an AI-powered writing tool, shares insights on the evolving landscape of AI in writing. He discusses the market's capacity for AI tools and the advancements in generative AI technology. Diving into the financial aspects, they explore pricing strategies for AI services and the economic implications of using technologies like OpenAI. Baschez emphasizes the importance of genuine innovation and user engagement in a competitive market as startups navigate this rapidly changing environment.
31:44
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Quick takeaways
- Lex aims to differentiate itself by providing an AI-powered writing tool that offers unique features and capabilities, targeting the market of serious writers who require multiple rounds of revision for their longer pieces of work.
- Nathan Bishaz emphasizes the importance of understanding user needs and building practical features that can be integrated into the product, rather than solely chasing the latest AI advancements, and expects AI-powered services to become more affordable over time.
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The Market Potential and Focus of Lex
Lex is targeting the market of serious writers who require multiple rounds of revision for their longer pieces of work. While the market is large and competitive, Lex aims to differentiate itself by providing an AI-powered writing tool that offers unique features and capabilities. The focus is on understanding the needs of writers and tailoring the product to meet those needs. The goal is to establish a strong network effect and provide value to users, ultimately positioning Lex as an essential tool for writers.
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