Concrete Ideas Make Strong AI Startups: AI startups can move more efficiently and effectively with a concrete product idea than a vague market concept.

🌈 Abstract

The article discusses the importance of having a concrete product vision when building AI applications, as opposed to starting with a broad problem to solve. The author, who leads an AI venture studio, argues that having a specific product idea in mind allows for faster execution and quicker discovery and fixing of problems, even if the initial idea turns out to be flawed. The article also touches on the challenges of articulating a concrete idea and how it can be more efficient than a vague, open-ended approach.

🙋 Q&A

[01] Concrete Product Vision

1. What are the benefits of having a concrete product vision when building AI applications?

• Allows for faster execution and quicker discovery/fixing of problems, even if the initial idea is flawed
• Provides clarity of vision that helps drive a team in a specific direction
• Enables more efficient gathering of critical feedback and switching directions if necessary

2. How does the author's approach differ from common design thinking practices?

• Design thinking advocates spending time understanding end-users and problems before brainstorming solutions
• The author's approach recommends starting with a concrete product idea and iterating quickly, even if the initial idea is likely to be imperfect

3. What is the author's advice for starting a new AI project?

• Consider whether you can come up with a concrete vision to execute toward, even if the initial vision may not be quite right
• Rapid iteration will allow you to discover flaws sooner and switch to a different concrete idea based on the learnings

[02] Identifying Concrete Ideas

1. How does the author's AI Fund develop best practices for identifying concrete ideas relevant to a business?

• The author mentions they will share more on this in a later letter, but does not provide details in the current document.