BUSINESS IDEA | VENTURE STARTUP

Crowd Sourced Video Training Data 📹

Crowd computing

Available Domain: crowdstream.com

1. Problem/Opportunity❓

The Problem/Opportunity: If you get to a big event this summer, like a concert or festival, you’re guaranteed to be met with this exact view.

These days everyone is willing to sacrifice the moment to make sure they have the best Instagram story possible. But here’s the thing, video footage just like this may in fact be very valuable AI training data. Take adobe, who are paying $3 per minute for video footage to train their AI models. This means there are petabytes of training data sitting out there on people’s phones. So let’s create a platform to unlock that value for them.

Market Size: The global AI training dataset market size was valued at $2.39 billion in 2023

2. Solution ✅

The Idea: A platform for users to automatically upload their videos to earn money from AI companies

How it Works:

• Users download the app and sign up to the platform, giving it access to the videos and images in their camera roll (which they agree to as part of the T&Cs)

• The app then gives an estimation of what certain videos could be worth and they can then be placed on the marketplace

• AI companies can then bid for exclusive rights to use these videos to train their models and once the bidding is complete the video is removed from the platform forever

• The user gets paid out for any videos purchased, with the platform taking a small fee

Go-to-market: Start by working with video professionals who have terabytes of unused footage, see the value and go from there

Business Model: Transaction fee

Startup Costs: To get the infrastructure built you’ll need to do a raise here to get it going

3. How You’ll Get Rich 💰

Exit Strategy: You could exit here to companies in the stock footage market, like Shutterstock

Exit Multiple: Hard to predict here but given the AI nature of the business you could see a huge exit multiple here (above 10x revenue) if current valuations hold

DRUNK BUSINESS IDEA

Ear Worm App

Ever had a song stuck in your head but don’t know what song it is?

Well with this new app you simply describe the song and users can easily tell you what the song is.

Pure genius.

JUST THE TIP

Trend 📈: Finops

Finops is a practice that organizations use to optimize the financial performance of their cloud computing infrastructure. And as AI marches on this mean finops will take on another dimension to it.

Business Ideas

• Finops for AI: software to efficiently manage expenses on AI models based on usage patterns and business requirements

• Finops Outsourcing: Offer outsourced FinOps services to companies that lack the in-house expertise to manage their cloud financial operations effectively.

THE MONEYSHOT

The 1 Person Business Doing $14m Revenue per Year

BuiltWith is one of the most efficient businesses of all time.

They do $14m+ a year in revenue with just 1 full-time employee.

Here's how the founder did it.

Back in 2007, Gary Brewer was working full time while tinkering around with side projects, trying to scratch his entrepreneurial itch. While searching for his next idea, Brewer naturally looked at other websites for inspiration. And he had a thought: “Wouldn't it be cool to know the exact technology every website uses?”

He had his idea.

He hacked together a build, bought the domain BuiltWith.com and he was off to the races.

The business saw early success but despite this Gary was reluctant to take the plunge into full-time entrepreneurship. He kept working on it alongside his full-time job for 4 years, until Andrew Rogers came along.

Andrew was working on a similar idea and begged his way into working for Gary as a kind of advisor, finally convincing him to go full-time on the idea.

And from there with a bit of luck and a meeting with Raymond King, the founder of AboutUs (an internet domain directory who provided millions of backlinks to them) they grew the business to incredible heights without hiring a single person.

Today the business does more than $14m in revenue per year through premium plans, where businesses use the product to find potential customers and leads based on the technology their website, uses, keywords they rank for and so on.

Good on ya Gary!

INFLUENCER IDEAS

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