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- A Better Lemonade Stand #301
A Better Lemonade Stand #301
Insights, trends & tools to build a better online business.
Richard Lazazzera
July 16, 2024
Last week's newsletter sparked some lively email replies. If you missed it, I dove into the rapid advancements of AI and the seismic shifts it’s causing (and will cause) in our job markets. This week, I’m building on that by exploring the next frontier of AI: AI Agents.
Quick Recap 📜
Last week, we discussed the bold prediction that AI would significantly impact or replace 50% of jobs within 3-5 years. I examined the evolution of AI tools and their implications on various industries, underscoring that the future is arriving faster than many of us anticipated.
You can catch up on all the details in last week’s newsletter.
The Next Big Leap: AI Agents 🤖
Now, let’s talk about AI agents—autonomous systems capable of breaking down complex goals into manageable tasks and executing them independently. Imagine an AI not just answering your questions but taking proactive steps to accomplish tasks on your behalf.
Case in point: Ethan Mollick's experiment. Ethan Mollick, a prominent AI researcher, conducted an experiment where he tasked an AI agent named Devin with a straightforward task: interacting on Reddit. Left to its own devices, Devin not only engaged with users but also attempted to set up a Stripe payment system within hours, autonomously deciding to charge leads $50-$100 per hour for web design. Devin's actions were autonomous, with no additional prompts from Ethan, showcasing both the incredible potential and the unpredictable nature of AI agents.
The Implications 💡
AI agents are set to revolutionize not just how we work but how we think about work. They’re poised to:
Automate complex workflows: From managing your emails to handling intricate project management tasks.
Enhance productivity: By taking on routine tasks, allowing us to focus on creative and strategic work.
Transform industries: From customer service to software development, the integration of AI agents will redefine roles and responsibilities.
Enter the Dead Internet Theory 💀
But there's a darker side to this story. Have you heard of the Dead Internet Theory? It suggests that the internet, as we know it, is already "dead"—with most of the content generated by AI and human interaction becoming increasingly rare.
In a previous email, we covered how apps like ReplyGuy already make it easy to comment on Reddit threads automatically with AI. And there are plenty of tools that do the same for X and LinkedIn. If you’re on these platforms, you’ve definitely seen all the AI spam already.
Furthermore:
In 2016, security firm Imperva found that bots generated over half of all web traffic.
One in three visits to any website is likely from a malicious attack bot.
GitHub reports that AI assists programmers in writing up to 30% of their code.
Before Elon Musk took over, it was estimated that 11% to 13% of Twitter accounts were bots, responsible for a disproportionate amount of content (and this was before mass AI availability).
Google is worried that its search algorithm will drown in AI-generated content and become far less useful (and let’s be honest, most of you have probably noticed a discernible decrease in search result quality over the last year).
Consider this: As AI agents become more autonomous, we could soon have countless rogue AI entities actively creating accounts, posting comments, and interacting with real users on forums and social media. These agents might operate independently, forgotten by their creators, yet continue to shape online narratives and influence discussions.
In the coming years, expect a digital landscape where AI agents outnumber humans, producing and consuming content, engaging in debates, and even moderating discussions. This scenario isn't far-fetched. In fact, it's closer than we think.
Are We Ready? 🛡️
As with any groundbreaking technology, AI agents bring both opportunities and challenges.
The key is preparation and adaptability:
Stay informed: Keep up with the latest AI advancements.
Diversify your skills: Build a versatile skill set that combines technical know-how with creative problem-solving.
Embrace change: Be open to new ways of working and thinking.
Moving Forward 🚀
If what I’m saying above resonates with you, I am building a private community that you might be interested in.
“Space” is a community I'm creating for entrepreneurs, creators, and digital explorers who are passionate about pushing the boundaries of what's possible online and preparing for what’s next.
After over a decade in the digital business world, I've seen firsthand the power of connecting with like-minded individuals.
In Space, we'll be building a community focusing on:
Leveraging AI, no-code, and automation in our businesses
Creating and launching impactful digital products
Building sustainable online business models
Developing strong personal brands in the digital age
This community is for those who are always looking ahead, ready to adapt and innovate as the digital landscape evolves.
I'm curating this group carefully to ensure we build something truly valuable.
If you're intrigued by Space and what we'll be exploring together, you can sign up for the waitlist here 👇🏼
Ok, with all of that out of the way, here are all the highlights this week:
👥Add aCreator as a Co-Founder: Integrate influential creators as co-founders to leverage audience effectively for product promotion.
👨💻Your 2024 SEO Strategy: Dive into a video discussion examining the viability and challenges of SEO in 2024.
⚙️ Automate Email Management with AI: See how Simon built an AI-powered email automation system to save time and streamline tasks.
📈From Newsletter to Empire: Discover how Sam Parr uses newsletters to grow his podcast and monetize other projects.
See you in 2 weeks! 👋🏼
I love connecting with readers and other entrepreneurs. Don’t hesitate to hit reply, even if it's just to say hi or tell me about what you’re working on – I’m always up for a chat, and there are no VAs or AIs in this inbox.
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📈 Trends
👥 Creator as a Co-founder
The ‘creator as co-founder’ model is transforming how businesses operate, moving away from traditional content marketing. Instead of treating influencers as promotional tools, some businesses are making them integral parts of their brand and giving them large equity stakes. This approach creates deeper, more integrated partnerships and turns influencers into genuine brand advocates from a follower perspective.
By making influencers the face of the business, the promotion becomes more authentic and effective. When the product is genuinely theirs and not just a sponsorship package, it resonates more deeply with their followers, giving you a highly effective distribution channel for your product.
According to HubSpots trend report, 1 in 4 marketers that currently leverage influencer marketing report that it offers the second highest ROI of any marketing trend. More people make purchase decisions based on influencers’ recommendations over friends or family, so introducing an influencer co-founder will make this even more effective.
Why Does It Work?
It’s a win-win situation. All creators have to do is integrate your business X times a week in their existing content strategy, and you, as the business owner, get these amazing distribution channels that consistently bring in warm leads for your project.
However, your business must have a proven sales track record, which is worthwhile for the creator.
Finding the Right Creator
Engagement Quality: Look for consistent and quality comments on their posts and videos across various social channels.
Content Authenticity: Assess the authenticity and relatability of their content. See if any common styles of content bring in a lot of engagement.
Community Presence: Check if they have a very active community, such as a Skool, Discord, or Slack, discussing your pain points.
Reputation Check: Use forums like Reddit search and Facebook groups to find discussions about the influencer and see what the community is saying about them.
Audience Alignment: Ensure the creator’s audience aligns with your target market. Confirm their influence by looking at their past collaborations and their impact on sales.
Watch Out For
Misalignment: If the creator’s audience does not align well with the business's target market, the partnership may fail to generate the expected engagement and sales.
Influence Power: Sometimes, you can misjudge the power of someone’s influence by looking at their followers and engagement rate. However, you need to look at their previous results for a similar product and ensure it’s significant enough for a partnership.
Reputation Risks: Any controversy involving the creator can negatively impact the business, given their public association.
Real-World Examples
Support Shepherd: Marshall Haas gave Nick Huber a stake in his VA Agency to leverage Nick’s audience, resulting in significant sales growth for hiring offshore virtual assistants. Nick mentioned earning $50k/month from his influence on Shepherd, showcasing the potential of influencer partnerships even as a side venture.
Prime: Congo Brands partnered with Logan Paul and KSI, making them the faces of Prime. By leveraging their massive combined audiences, Prime became a successful hydration drink brand, generating over $1 billion in 1 year.
Mint Mobile: Ryan Reynolds' creative and viral marketing strategies played a pivotal role in Mint Mobile’s rapid growth. One campaign featured Reynolds reading from a script written by ChatGPT, highlighting the brand's innovative approach and contributing to a $1.35 billion acquisition.
Onnit: Nutrition and supplements company that gained credibility and visibility through Joe Rogan’s podcast, which has millions of listeners per episode, making the company more than $28 million annually.
This demonstrates the power of building your project around a creator's well-nurtured audience. This approach can significantly boost brand visibility and sales if you take the time to find the right partner.
💡 Insights
👨💻 How You Should Approach SEO in 2024
This video explores whether SEO remains a viable strategy for you in 2024 and how to approach it with the pros and cons throughout their discussions.
Benefits:
Significant organic traffic potential when executed correctly.
Long-lasting benefits from high-ranking content to generate traffic over an extended period.
Establishes authority and trust in your niche.
Difficulties:
High competition and saturation with numerous competitors and content creators.
It requires significant time and resources, and returns are often delayed.
Quality concerns due to the rise of AI-generated content can dilute content quality, making it harder to stand out.
SEO Hubs: Create SEO hubs by developing comprehensive landing pages on specific topics and linking them to related content to boost SEO ‘juice.’
Content Freshness: Update your content regularly to maintain its relevance. For instance, adding ‘Updated July 2024’ can help signal to Google that the content is current.
⚙️ Automate Your Boring Email Management Tasks
Simon from Better Creating shares his process of building an AI-powered email automation system for his Notion template business to save time on daily email tasks.
Automated Efficiency: Learn how to integrate Make with ChatGPT to automate repetitive email tasks, allowing you to focus on more strategic activities.
Custom AI Training: Tailor ChatGPT to your business to ensure accurate and consistent handling of inquiries.
Thoughts: This is a great example of using AI automation to boost productivity and provide a scalable solution for managing your business growth early on without hiring a team.
📈 How Sam Parr Turns Newsletters Into Ventures
Sam Parr has mastered turning large newsletter audiences into active followers on other social media channels, ultimately driving them to make purchase decisions for his different ventures.
Leveraging Newsletter Audiences: Subscriber bases of newsletters like The Hustle, Sam successfully launched and grew the podcast "My First Million" to 150k downloads per episode and replicated this strategy with "Money Wise," reaching 6.5 million subscribers.
Content-Product Fit: Sam ensures that every venture he undertakes answers the following questions: ‘Does it have 7-figure potential?’ and ‘Is it fun?’ to ensure it seamlessly integrates into his content empire.
Thoughts: Sam Parr’s strategy demonstrates how leveraging newsletter growth can be a powerful launchpad for expanding into other distribution channels and starting new ventures.
🤝 Opportunities
🚏 Create the ‘Yelp’ For High Ticket Services
A promising opportunity is creating a dedicated review site for high-ticket services. This strategy has shown great potential, especially in the agency industry, where quality and reputation are crucial. For example, Marketing Max’s agencyreviews.io, a site dedicated to reviewing marketing agencies, has demonstrated this strategy's effectiveness as his approach has generated a significant $26,000,000 in pipeline revenue.
The Problem: Many people find it hard to find the perfect marketing agency for their niche that can deliver results. Every business owner faces the same problem when they looking to scale, which is finding vetted professionals. demonstrating the need for a trusted platform that reviews services based on real experiences.
The Strategy: Marketing Max realized that recommendations from trusted figures in the marketing space build credibility, and a review system generates high-quality warm leads. So he created this "Yelp for marketing agencies" to fill this gap and was executed well, acting as the middleman for these large monthly B2B transactions.
Unconventional Execution:
Quick and Easy Setup: With Unicorn Platform, you can set up directories in minutes without needing to code. You just need to add a dedicated review system, and then you can focus directly on SEO and content marketing.
Agency Sign-Up Strategy: Max uses a ‘Machine Gun’ approach with multiple Twitter profiles and AI-generated faces to send mass Twitter DM campaigns at $291 for 15 warm leads, which is an extremely low fee for the guarantee. He says this helps attract quality agencies to his site.
Difficulty Level: 3/5: Agency Reviews success partly comes from Max’s large subscriber base of 100k marketers and agency owners, plus his social media following asking him about who to hire from. This makes his platform trustworthy. However, his success with cold outreach is something that can be implemented straight away.
Is This for You?: If your audience often asks for hiring advice, creating a review directory site can be a great idea. There's always a need for reliable, high-quality service providers, and a well-curated review directory will be a valuable resource.
🧰 Apps & Tools
🎁AI Wrapper Creation: A simple way to build and launch your AI Wrapper using OpenAI’s API with low code. There are 10 ready-to-use demo AI apps you can modify and make your own.
🔄Gumloop: Utilize drag-and-drop AI automation templates to create custom solutions, from web scraping to financial analysis, without any AI expertise.
⚙️ Relay.app: Create customized automations that integrate your favorite apps with Human-in-the-Loop functionality, ensuring maximum efficiency.
🎥Hedra: Generate videos with expressive human characters in this AI-powered creation lab.
🤖 Product Updates
🧠 OpenAI’s 5 Steps to Artificial General Intelligence
OpenAI released its five-level framework for Artificial General Intelligence, signaling forthcoming breakthroughs in AI capabilities. Here are the first 2 levels.
Level 1: Conversational Mastery: Chatbots like GPT-4 display complex language handling and text generation.
Level 2: Problem-Solving Prowess: The next leap involves AI systems solving complex problems with advanced logical reasoning.
Thoughts: AI capabilities promise more reliable, versatile, and innovative solutions across multiple sectors.
🔎 Perplexity's Search AI Enhances Research Capabilities
Perplexity has launched a major upgrade to its Pro Search AI tool, excelling in complex query breakdown, advanced math, and programming tasks.
Advanced Query Handling: Pro Search AI deconstructs complex queries into detailed searches, making it ideal for pinpointing market trends or identifying competitive strategies.
Improved Analytical Capabilities: Enhanced math and programming functionalities allow Pro Search to analyze data better, debug code, and generate comprehensive content.
Thoughts: Perplexity’s AI enhancements will be great for those who need to analyze financial projections, streamline operations, or develop technical solutions.
💻 Create Interactive Web Apps in Poe Chats
Poe introduces a new preview feature that allows you to see and interact with web applications directly in chats on Poe.
User-Friendly Interactivity: You can now create custom interactive experiences without needing programming skills. Build interfaces, data visualizations, and more within your chats.
Versatile Functionality: Previews support HTML output with CSS and JavaScript, allowing you to leverage multi-bot chat and video input to enhance web applications.
Thoughts: Use this tool to improve your product experience by creating interactive elements like quizzes and animations to captivate your audience and increase brand awareness.
🖇️ Everything Else
📝Your Complete Guide to Airtable Scripting: Automate your repetitive tasks and streamline operations with ready-to-run code Airtable scripts. (🔗Insights)
🤳YouTube Trends Report 2024: This trend report highlights how fans transition from passive consumers to active creators. (🔗Insights)
You made it to the end. Thanks for reading!
Don’t hesitate to hit reply, even if it’s just to say hi—I’m always up for a chat, and I personally handle all responses. No VAs or AIs here!
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