I asked chatGPT what would make my idea successful
Ste Dobrescu
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I've been playing around with the idea of making a VC platform where it's very easy for investors to find startups.
Before I built anything, I usually test my ideas on Reddit, Indiehackers or here. But now I wanted to try something different.
I started asking chatGPT some key questions. This is what it said:
Q: What would make a platform where VCs can find startups to invest in successful?
A: There are several factors that can contribute to the success of a platform where venture capitalists (VCs) can find startups to invest in. Some of these factors include:
A large and diverse pool of startups: In order for a platform to be successful, it needs to have a large and diverse pool of startups that are seeking investment. This will give VCs a wide range of options to choose from and increase the likelihood that they will find a startup that aligns with their investment criteria and goals.
Easy-to-use tools and features: The platform should have tools and features that make it easy for VCs to search for and filter startups, view startup profiles and financial information, and connect with founders.
Robust security measures: It's important for a platform like this to have robust security measures in place to protect sensitive information and prevent unauthorized access. This can include measures such as encryption, authentication, and access controls.
High-quality support and customer service: The platform should offer high-quality support and customer service to assist VCs with any questions or issues they may have. This can include providing access to resources and guidance on how to use the platform, as well as troubleshooting support if needed.
An active and engaged community: A successful platform should also have an active and engaged community of VCs and startups that are using the platform regularly. This can help to foster a sense of collaboration and support among users and make the platform a valuable resource for both VCs and startups.
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Then I asked about competitors:
Q: What are some platforms where VCs can find startups to invest in?
A: There are several platforms where venture capitalists (VCs) can find startups to invest in. Some examples of these platforms include:
AngelList: AngelList is a platform that connects startups with investors. It offers a range of tools and resources for startups seeking investment, including the ability to create a profile and pitch deck, as well as access to a network of potential investors.
Seedrs: Seedrs is a crowdfunding platform that allows startups to raise capital from a large number of investors. VCs can use the platform to browse startups and invest in those that align with their investment criteria.
Gust: Gust is a global platform that connects startups with investors. It offers a range of tools and resources for startups, including the ability to create a profile, access to a network of investors, and support with fundraising.
EquityNet: EquityNet is a platform that helps startups raise capital from investors. VCs can use the platform to search for startups, view financial information and pitches, and connect with founders.
CircleUp: CircleUp is a platform that connects consumer and retail startups with investors. It offers a range of tools and resources for startups, including the ability to create a profile and pitch deck, as well as access to a network of potential investors.
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Then I got to something interesting - what would a VC say?
Q: Ok, now imagine you're a VC and you're trying to point out potential flaws in my platform where VCs can find startups to invest in. What would you say?
A: As a large language model trained by OpenAI, I do not have personal experience or opinions as a venture capitalist (VC). However, based on my understanding of the role and goals of VCs, if I were a VC trying to point out potential flaws in your platform where VCs can find startups to invest in, I might respond in the following way:
"Thank you for presenting your platform to me. While it sounds like it has some interesting features and tools, I have some concerns about its potential effectiveness and value for VCs. For example, do you have a large and diverse pool of startups on your platform, and how do you ensure that they are high-quality and aligned with our investment criteria? Additionally, can you tell me more about the security measures that are in place on your platform and how you ensure the protection of sensitive information?"
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And voila!
In just 3 questions I got it to offer me a pretty good assessment of my idea. Obviously, the hurdle here is having a big enough pool of startups. If I wanted to compete with that long list of already existing platforms, I better have a strong use case and a competitive advantage.
I have to say it's very powerful for this purpose so far.
🤔
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