Glavin001
commented
1 year ago Example using trained model:
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Give me an instruction (Ctrl + D to finish):
Who do you recommend new startup founders?
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<s>Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
Who do you recommend new startup founders?
### Response:
/root/miniconda3/envs/py3.9/lib/python3.9/site-packages/bitsandbytes-0.39.0-py3.9.egg/bitsandbytes/autograd/_functions.py:318: UserWarning: MatMul8bitLt: inputs will be cast from torch.float32 to float16 during quantization
warnings.warn(f"MatMul8bitLt: inputs will be cast from {A.dtype} to float16 during quantization")
This. First off, I think you should work at a company for 2 years before trying to be an entrepreneur.</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
Who do you recommend new startup founders?
### Response:
This. First off, I think you should work at a company for 2 years before trying to be an entrepreneur.</s>
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Give me an instruction (Ctrl + D to finish):
How do startups compete against larger incumbents in the market?
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### Instruction:
How do startups compete against larger incumbents in the market?
### Response:
The next question I have is how you're gonna get your customers? Because let's be honest. You're not gonna grow without getting more and more customers, right? Right? So if we think about it, if you wanna take share away from competitors in the market, especially large ones, they'll try to kill you by raising prices or decreasing customer service. They might actually decrease the amount of advertising they spend in order to make the channel more valuable for you because you can go after it at a lower cost than them, but they will definitely increase their acquisition costs by increasing the price of advertisement. Now if you look at this, there's actually some pretty good data on whether companies have raised the number of dollars that they've spent on advertisements every year in the 20 years before Google, Facebook, and Twitter existed. And the answer is no. That's really cool. It turns out that when these companies exist, the only way you could afford to run any ads was if you were growing incredibly fast. In fact, if you grew over 50 percent a year as a company, you still needed to raise prices. This has changed today. Today, it's possible for even companies with slow growth rates to afford TV and radio. They can even buy search ads now. When you're small, however, you don't have much money. It used to be that if you had less than $1 million per month in sales, you didn't qualify to advertise online through any serious channels. But since you don't yet have enough revenue to buy those channels, and therefore they are unavailable to you, the only way you can ever reach new customers is if existing customers who are happy with your products tell their friends about you. So if we think about how startups should grow against incumbents, 1 of the first things to realize is that your product has to be amazing. And I'm not just saying that. I'm telling you this from personal experience. When we started our business, all we did was tell people about it. We said, hey, here's what we're doing. Here's why you need to use us. And here's why you need to convince other people to use us. And I remember very clearly being like, well, what happens is what do we do when somebody doesn't wanna talk to us. Like, what happens? What happens if we have like a negative interaction, and then that person doesn't tell anybody else?</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
How do startups compete against larger incumbents in the market?
### Response:
The next question I have is how you're gonna get your customers? Because let's be honest. You're not gonna grow without getting more and more customers, right? Right? So if we think about it, if you wanna take share away from competitors in the market, especially large ones, they'll try to kill you by raising prices or decreasing customer service. They might actually decrease the amount of advertising they spend in order to make the channel more valuable for you because you can go after it at a lower cost than them, but they will definitely increase their acquisition costs by increasing the price of advertisement. Now if you look at this, there's actually some pretty good data on whether companies have raised the number of dollars that they've spent on advertisements every year in the 20 years before Google, Facebook, and Twitter existed. And the answer is no. That's really cool. It turns out that when these companies exist, the only way you could afford to run any ads was if you were growing incredibly fast. In fact, if you grew over 50 percent a year as a company, you still needed to raise prices. This has changed today. Today, it's possible for even companies with slow growth rates to afford TV and radio. They can even buy search ads now. When you're small, however, you don't have much money. It used to be that if you had less than $1 million per month in sales, you didn't qualify to advertise online through any serious channels. But since you don't yet have enough revenue to buy those channels, and therefore they are unavailable to you, the only way you can ever reach new customers is if existing customers who are happy with your products tell their friends about you. So if we think about how startups should grow against incumbents, 1 of the first things to realize is that your product has to be amazing. And I'm not just saying that. I'm telling you this from personal experience. When we started our business, all we did was tell people about it. We said, hey, here's what we're doing. Here's why you need to use us. And here's why you need to convince other people to use us. And I remember very clearly being like, well, what happens is what do we do when somebody doesn't wanna talk to us. Like, what happens? What happens if we have like a negative interaction, and then that person doesn't tell anybody else?</s>
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Give me an instruction (Ctrl + D to finish):
What are the two stages of a startup's journey that you mentioned earlier?
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### Instruction:
What are the two stages of a startup's journey that you mentioned earlier?
### Response:
We often talk about how there's like this 2 stage journey for a startup, which is this idea stage, where you have no product or not even any users yet and then you have a growth stage. If you think of your company as a line chart going through time, it looks kinda sort of like this 1 when you don't have any users, and then it grows up until eventually, maybe it goes straight down, you know, and hopefully you can avoid that. If you look at this as a graph, what you want to do is grow until some point where the number of new customers coming in every day is equal to the number of people churning out every day, and then you wanna maintain that flatline for as long as possible. This doesn't mean that you should stop growing, but ideally, it means that at least in terms of customer acquisition, things are constant. So if you're a founder, you may be thinking, all right, I want my user base to keep growing, and I need to build things that bring on more users. That's true, but there comes a point where your users start churning out faster than they come in. At this point, you have a choice to either continue growing, which puts stress on your support team and increases your burn rate, or you can stabilize by reducing acquisition, which helps your profitability, but hurts your top line and puts stress on growth. As an early stage company, it's very easy to fall into this trap of continually increasing your customer acquisition costs. And so the advice here is quite simple, you know, if you're spending money on acquisition and you see your growth slowing down, then you've spent too much money</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
What are the two stages of a startup's journey that you mentioned earlier?
### Response:
We often talk about how there's like this 2 stage journey for a startup, which is this idea stage, where you have no product or not even any users yet and then you have a growth stage. If you think of your company as a line chart going through time, it looks kinda sort of like this 1 when you don't have any users, and then it grows up until eventually, maybe it goes straight down, you know, and hopefully you can avoid that. If you look at this as a graph, what you want to do is grow until some point where the number of new customers coming in every day is equal to the number of people churning out every day, and then you wanna maintain that flatline for as long as possible. This doesn't mean that you should stop growing, but ideally, it means that at least in terms of customer acquisition, things are constant. So if you're a founder, you may be thinking, all right, I want my user base to keep growing, and I need to build things that bring on more users. That's true, but there comes a point where your users start churning out faster than they come in. At this point, you have a choice to either continue growing, which puts stress on your support team and increases your burn rate, or you can stabilize by reducing acquisition, which helps your profitability, but hurts your top line and puts stress on growth. As an early stage company, it's very easy to fall into this trap of continually increasing your customer acquisition costs. And so the advice here is quite simple, you know, if you're spending money on acquisition and you see your growth slowing down, then you've spent too much money</s>
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Give me an instruction (Ctrl + D to finish):
What are Post product market fit and pre product market fit?
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### Instruction:
What are Post product market fit and pre product market fit?
### Response:
Pre post Product Market Fit, but let's start with Product Market fit. So, there's some confusion out there about what this term means in the startup world. Some people think it has to do with revenue, others think it's got to do with profitability. And then, some other folks just sort of throw up their hands and say we have no idea what it really is. The truth is, these definitions are pretty fluid as they relate to the state of your startup in its entirety, you know, so there's no 1 clear definition like, you know, in the English language. But we can simplify it by saying that when you achieve product market fit, you've found a set of features or capabilities that resonate most with users or customers. Now, I don't wanna get too deep into our philosophy on Product Market fit, but this is the number 1 thing you should be focusing on at any point in time if you're starting a startup. And this will allow you to move forward in building your business, because you will know that what you're building is something that customers actually want.</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
What are Post product market fit and pre product market fit?
### Response:
Pre post Product Market Fit, but let's start with Product Market fit. So, there's some confusion out there about what this term means in the startup world. Some people think it has to do with revenue, others think it's got to do with profitability. And then, some other folks just sort of throw up their hands and say we have no idea what it really is. The truth is, these definitions are pretty fluid as they relate to the state of your startup in its entirety, you know, so there's no 1 clear definition like, you know, in the English language. But we can simplify it by saying that when you achieve product market fit, you've found a set of features or capabilities that resonate most with users or customers. Now, I don't wanna get too deep into our philosophy on Product Market fit, but this is the number 1 thing you should be focusing on at any point in time if you're starting a startup. And this will allow you to move forward in building your business, because you will know that what you're building is something that customers actually want.</s>
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Give me an instruction (Ctrl + D to finish):
How do you know when you have product market fit?
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### Instruction:
How do you know when you have product market fit?
### Response:
1 way of knowing you have a good idea for your first company is when you can't get someone to work with you on it. When we were working on AdWords, and there was nothing around at that time, so if I had tried to hire another engineer, they would tell me no. If I asked them to work on it, they wouldn't want to work on it because there was nothing else to work on. Now, that worked perfectly for us. What happens if someone tries to hire you, like a co founder or something like that. That didn't happen very much before YC existed. Because back then, engineers really wanted to work in big companies and startups weren't a great place to be. And so now, if someone comes up to you and says hey, I wanna hire you as a cofounder for my startup, and you think you want to work for that person, but you don't actually care that much about their idea. You should definitely go work for them. But if you really wanna build what they're building, then keep working on it. Alright. Great.</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
How do you know when you have product market fit?
### Response:
1 way of knowing you have a good idea for your first company is when you can't get someone to work with you on it. When we were working on AdWords, and there was nothing around at that time, so if I had tried to hire another engineer, they would tell me no. If I asked them to work on it, they wouldn't want to work on it because there was nothing else to work on. Now, that worked perfectly for us. What happens if someone tries to hire you, like a co founder or something like that. That didn't happen very much before YC existed. Because back then, engineers really wanted to work in big companies and startups weren't a great place to be. And so now, if someone comes up to you and says hey, I wanna hire you as a cofounder for my startup, and you think you want to work for that person, but you don't actually care that much about their idea. You should definitely go work for them. But if you really wanna build what they're building, then keep working on it. Alright. Great.</s>
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Give me an instruction (Ctrl + D to finish):
How can startups improve their product and learn from their customers at a faster pace?
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<s>Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
How can startups improve their product and learn from their customers at a faster pace?
### Response:
So 1 of the problems that most founders have is how do I learn about my users? How do I quickly iterate, so if you're working on something, let's say it's a new app or whatever, How can I build something, show it to people, then be able to iterate quickly enough and get feedback and learn from people using it as fast as possible. So there's 2 main ways. The first thing I like to recommend to founders is just go talk with your friends and users. In other words, if you're in school, Go hang out at campus common space or the library or anywhere. If you are not in school, Find your best friend, your mom, your uncle, and whoever and tell them about your idea and ask them a bunch of questions, why would they use this, what parts do they think are confusing? What parts don't make sense? That's a very good way to start iterating early on because 1, You find some sort of hypothesis for yourself and your team of what your users need, but also, even more importantly, those users will come back with actual specific things that your product needs. And then if you can quickly implement them and give them a better experience, you can actually win. So talking directly to users is a really useful way for companies especially in the beginning to iterate on what they're building.</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
How can startups improve their product and learn from their customers at a faster pace?
### Response:
So 1 of the problems that most founders have is how do I learn about my users? How do I quickly iterate, so if you're working on something, let's say it's a new app or whatever, How can I build something, show it to people, then be able to iterate quickly enough and get feedback and learn from people using it as fast as possible. So there's 2 main ways. The first thing I like to recommend to founders is just go talk with your friends and users. In other words, if you're in school, Go hang out at campus common space or the library or anywhere. If you are not in school, Find your best friend, your mom, your uncle, and whoever and tell them about your idea and ask them a bunch of questions, why would they use this, what parts do they think are confusing? What parts don't make sense? That's a very good way to start iterating early on because 1, You find some sort of hypothesis for yourself and your team of what your users need, but also, even more importantly, those users will come back with actual specific things that your product needs. And then if you can quickly implement them and give them a better experience, you can actually win. So talking directly to users is a really useful way for companies especially in the beginning to iterate on what they're building.</s>
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Give me an instruction (Ctrl + D to finish):
What factors do you think contribute to the success or failure of startups in terms of scaling?"
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<s>Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
What factors do you think contribute to the success or failure of startups in terms of scaling?"
### Response:
Let me kinda talk about how I think of when things are working and when they're not working. So, to start with, it turns out that the most successful businesses are very easy to explain what they do. Like, people get it almost instantly. And these are ones that we refer to as idea companies. These are companies like Dropbox, which at some point is gonna just be called a file sharing company. Airbnb, at some point is just gonna be called home rentals. Reddit, news aggregator. You know? A bunch of other examples that are very easy to understand, even if those ideas aren't actually new. What makes these really great is that there's not a lot of competition. They have strong network effects. Like, once someone's on Reddit, that person won't wanna leave, because everyone else is on there. And they can make money very easily off of this base of customers who don't wanna move away, and they can grow and grow and grow quickly. Then you have some companies that are a little bit harder to describe. Right? This is where the magic happens, right? It's like, oh, what does your company do? How do you explain it? Or it's like a product that doesn't quite work yet. Right? But at the end of the day, it's pretty obvious why someone would use it. And it's very clear what problem you're solving. You have a good idea of who would want to use it. Maybe not necessarily everyone, but maybe a specific type of user that's gonna be really excited by what you do. It has strong network effects, it's going to grow fast. The reason why you'd call this a hunch is because it still might not make sense in 5 years, you still might change your mind about whether it'll succeed, whether it'll fail, but you feel fairly confident about it now. Like, you've done enough research that you think it will work, right? And then on the far left side you have a bad idea. Ideas that are like, well, this sounds cool. You don't completely get it. There's no reason why anyone would use it. If you say, okay, you know, 5 years from now, I don't know. And there's definitely no network effect. Right? Everyone has their own files. Not gonna share any more than before, so you know, it doesn't even matter if other people come over. And they're hard to explain. Almost no one will get it on first glance. And then the way you figure out whether you got something good or not is you sorta keep iterating. Start with this, try to get to this idea company thing. And every week or month, you should ask yourself, okay, how much closer am I? Is it moving in that direction? Have I made progress? Am I on track? Or is it moving in this direction. Is it slowly getting more obvious to me why someone would use this? What problem am I solving? Are my assumptions about who uses it incorrect? Are the network effects growing? Because you find that over time as you iterate, you'll move into one of those categories over here and start to gain confidence about it. This doesn't mean you're building something that's necessarily going to last for long term. It means you're probably making stuff that people are excited to use right now. That might be good. If you're trying to build an important startup, it doesn't necessarily mean you are. Like, I don't wanna give you the false hope, like, oh, yeah, I started with idea company and therefore</s>
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<s> Below is an instruction that describes a task. Write a response that appropriately completes the request.
### Instruction:
What factors do you think contribute to the success or failure of startups in terms of scaling?"
### Response:
Let me kinda talk about how I think of when things are working and when they're not working. So, to start with, it turns out that the most successful businesses are very easy to explain what they do. Like, people get it almost instantly. And these are ones that we refer to as idea companies. These are companies like Dropbox, which at some point is gonna just be called a file sharing company. Airbnb, at some point is just gonna be called home rentals. Reddit, news aggregator. You know? A bunch of other examples that are very easy to understand, even if those ideas aren't actually new. What makes these really great is that there's not a lot of competition. They have strong network effects. Like, once someone's on Reddit, that person won't wanna leave, because everyone else is on there. And they can make money very easily off of this base of customers who don't wanna move away, and they can grow and grow and grow quickly. Then you have some companies that are a little bit harder to describe. Right? This is where the magic happens, right? It's like, oh, what does your company do? How do you explain it? Or it's like a product that doesn't quite work yet. Right? But at the end of the day, it's pretty obvious why someone would use it. And it's very clear what problem you're solving. You have a good idea of who would want to use it. Maybe not necessarily everyone, but maybe a specific type of user that's gonna be really excited by what you do. It has strong network effects, it's going to grow fast. The reason why you'd call this a hunch is because it still might not make sense in 5 years, you still might change your mind about whether it'll succeed, whether it'll fail, but you feel fairly confident about it now. Like, you've done enough research that you think it will work, right? And then on the far left side you have a bad idea. Ideas that are like, well, this sounds cool. You don't completely get it. There's no reason why anyone would use it. If you say, okay, you know, 5 years from now, I don't know. And there's definitely no network effect. Right? Everyone has their own files. Not gonna share any more than before, so you know, it doesn't even matter if other people come over. And they're hard to explain. Almost no one will get it on first glance. And then the way you figure out whether you got something good or not is you sorta keep iterating. Start with this, try to get to this idea company thing. And every week or month, you should ask yourself, okay, how much closer am I? Is it moving in that direction? Have I made progress? Am I on track? Or is it moving in this direction. Is it slowly getting more obvious to me why someone would use this? What problem am I solving? Are my assumptions about who uses it incorrect? Are the network effects growing? Because you find that over time as you iterate, you'll move into one of those categories over here and start to gain confidence about it. This doesn't mean you're building something that's necessarily going to last for long term. It means you're probably making stuff that people are excited to use right now. That might be good. If you're trying to build an important startup, it doesn't necessarily mean you are. Like, I don't wanna give you the false hope, like, oh, yeah, I started with idea company and therefore</s>
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