Growth Ritual #7
📋 IN THIS ISSUE: Strong Brand, Weak Identity? ✨ Top 50 Artificial Intelligence Startups of 2024 ✨ Humane AI Pin Reviews
🎙️ AUDIO DEEP DIVE OF THIS ISSUE:
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🧙♂️ TIPS & TRICKS:
Strong Brand, Weak Identity?
Last week, I noticed that Trendyol's (leading shopping marketplace in Türkiye) sub-brand, Trendyolmilla, was the most downloaded mobile application in Turkey and that its logo looked “as if it was made in Paint or even Word”.
Comments such as “How your logo looks after reaching the size of Trendyol does not affect the result at all” were also received.
In my opinion, this perspective is quite incomplete and erroneous. Yes, Trendyol has a powerful brand. But it is necessary to define and analyze this power correctly.
Some brands stand out with their strong stance, stories, values they defend, visual worlds and “personalities” that distinguish them from others. This is where their power comes from.
Global brands such as Apple, Nike, Ikea, Amazon, Coca-Cola, Tesla, Starbucks, Mercedes and McDonald's fall into this category. These brands take extraordinary care to maintain their corporate identity, which repeats consistently across every platform, every message, and every encounter, setting them apart from others.
On the other hand, some brands, like Trendyol, have strong financial background and a wide audience. These brands can reach the people they want, whenever they want and through the channels they want.
Concepts such as story, stance or visual world are not that important to them. They are already “selling” in some way and do not need any additional effort.
The success of these brands often comes from their business model, hard work and practical management skills. This is something to be applauded.
However, becoming a global brand and achieving lasting success is a completely different level.
It should not be forgotten that a strong brand identity does not consist only of visual elements. Storytelling, consistent messaging, customer experience and brand values are also important parts of this identity. Trendyol can move towards becoming a global brand by making progress in these areas.
However, it is clear that the brand needs serious development in elements such as logo and visual identity in order to achieve its goal of becoming a global brand. A strong brand identity will help Trendyol fully realize its potential and achieve lasting success.
📊 TRENDS, RESEARCH & REPORTS:
Top 50 Artificial Intelligence Startups of 2024 🤖
Forbes recently published its list of the top 50 artificial intelligence startups of 2024. Although such lists are always interesting, the question of who determines the “best” and according to what criteria comes to mind.
Forbes states that it received the support of investors such as Sequoia Capital and Meritech Capital while preparing the list. This situation calls into question the objectivity of the list and causes it to be perceived as a ranking showing how successful the startups are with their PR efforts.
It is also noteworthy that the list focuses on America. The absence of initiatives from countries that have made significant developments in the field of artificial intelligence, such as China and India, limits the scope of the list and shows that it does not have a global perspective.
Forbes' “biased” approach is also evident with important initiatives not included in the list. For example, the fact that Stability AI, which revolutionized the field of video, visual and audio processing, is not included in the list calls into question the objectivity of the list.
This is reinforced by the fact that Emad Mostaque, CEO of Stability AI, recently resigned to focus on decentralized artificial intelligence and drew attention to the dangers of artificial intelligence controlled behind closed doors. Elon Musk's lawsuit against OpenAI also confirms these concerns.
Forbes' deliberate exclusion of startups from the list means that different perspectives on artificial intelligence are ignored.
However, it is not right to reject the list completely. Initiatives that have been on the radar of the media and are likely to come to the fore in the future may be among those that affect our social life the most. Therefore, it will be useful to examine the list and find out what these initiatives offer.
These companies are particularly noteworthy due to their substantial investment amounts and relatively recent founding dates:
Databricks: Data storage and analytics — $4B — 2013
Anduril: Defense software and hardware — $2.8B — 2017
Figure AI: Autonomous humanoid robots — $754M — 2022
Cerebras: Computer chip maker — $720M — 2016
Insitro: Drug discovery and development — $643M — 2018
Scale AI: Data labeling and software — $600M — 2016
Hugging Face: Library for AI models and datasets — $395M — 2016
For comparison, here are the investment amounts for some well-known companies: OpenAI ($11.3B), Anthropic ($7.7B), and Midjourney ($0M).
If you're interested in a different perspective, you can explore a16z's top 50 AI list.
📰 LATEST NEWS DECODED:
Humane AI Pin Reviews
News Sources: The Reverge
Why is it matters
The Humane AI Pin is a significant development in the world of artificial intelligence and wearable technology, offering a unique and impressive take on the traditional AI assistant.
Future Effect
The AI Pin offers a glimpse into a future where AI assistants are more integrated into our daily lives, providing hands-free, screen-less interactions that keep users connected while encouraging them to unplug from screens.
With its vision and description capabilities, the Pin showcases the potential for AI to enhance our understanding of our surroundings and provide context-aware assistance.
The gesture navigation and laser projection features offer a novel way of interacting with technology, though they may face challenges in terms of practicality and readability.
While the Pin has limitations, such as response times and potential overheating issues, it represents a step forward in the development of AI gadgets and the exploration of new form factors.
Actionable Steps
Further testing of the AI Pin in real-world environments is necessary to understand its capabilities and limitations fully, including its performance in various lighting and temperature conditions.
Addressing response times and connectivity issues will be crucial to ensuring a seamless user experience, especially considering the device's intended purpose of providing quick, on-the-go assistance.
Exploring ways to enhance the readability of the laser projection, such as through advancements in projection technology or improvements in gesture recognition, could make the device more user-friendly.
While the Pin has been marketed as more than just a gadget, focusing on its practical applications and use cases may be more effective in driving adoption and user acceptance.
💡 INSPIRING IDEAS:
“Your work will always fill a large part of your life. Decide well what and who you love in your life. Because the person you love and your job are at the center of your life. Therefore, the only way to enjoy life is to love what you do. The only way you can love your job is to believe that it is a beautiful and useful job. If you still haven't found it, keep looking. Never get stuck in a job until you find it. Your heart will tell you when you find it. Like a great relationship, your business will only get better as the years go by.”
— Steve Jobs