In this engaging episode of "Venture Declassified," hosts Mike Kelly, Ben Pidgeon, and Jacob Schpok dive into the pivotal role of technology, specifically AI and chat GPT, in revolutionizing the world of investing and due diligence. The episode is packed with insights on how these cutting-edge tools can streamline and enhance the investment decision-making process.

The hosts kick things off by discussing the importance of validating business ideas, assessing the competitiveness and innovativeness of solutions, and determining market size to attract investment. Ben shares his experience using chat GPT for due diligence and market research, suggesting it might even score pitch decks. Mike also leverages chat GPT for deal filtering and understanding healthcare deals' competitive landscape. Jacob adds a practical tip: including "please" in prompts can make chat GPT results 3% better!

They delve into utilizing chat GPT for pre-screening companies and creating targeted question sets. The hosts explore using AI to analyze assumptions behind projected revenues, which could be a game-changer for angel investors spread across multiple deals.

Throughout the episode, the trio underscores the importance of AI in gathering information, detecting market trends, and mitigating bias from historical data. They discuss AI's potential in forecasting future technologies and market opportunities. Emphasizing the founding team's importance, they argue that focusing on the founders is often more crucial than the market or industry itself.

Tune in to hear their insightful discussion on AI's transformative impact on investment strategies, and why it's a missed opportunity for angel investors not to leverage these powerful tools.

Key Topics

• Validating a Business Idea and Attracting Investment
• Use of AI and Chat GPT for Due Diligence and Market Research
• Practical Applications of Chat GPT in Investment Activities: Pre-screening companies, creating a question set for analysis, scoring pitch decks
• Chat GPT’s ability to gather and analyze information from various platforms
• AI’s role in predicting future technologies and market opportunities
• Practical Experiences Using Chat GPT
• The Cost-Effectiveness and Accessibility of AI Tools
• Technological Advancements and AI Utilization in Investing

Connect

Mike Kelly
LinkedIn - Website - Developer Town

Ben Pidgeon
LinkedIn - VisionTech

Jacob Schpok
LinkedIn - Elevate Ventures

Hear more interviews and stories like this one at www.VentureDeclassified.com

The information provided on the show is not intended to be investment advice and should not be relied upon as such. The investors on today’s episode are providing their opinions based on their own assessment of the businesses or topics presented. Those opinions should not be considered professional investment advice. If they start up pitched as a part of this episode, it is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell, subscribe for or buy any securities.