BUSINESS IDEA | STARTUP

Dynamic LLM Prompt Routing 🔀 

The right path

Available Domain: Promptpaths.com

1. Problem/Opportunity❓

The Problem/Opportunity: The LLM wars are in full swing and these days it feels like new LLMs are being launched every week. It’s a lot.

But most users tend to use one LLM, like ChatGPT, for all of their prompts and tasks. However depending on the task other models could be faster, cheaper and better in certain use cases. Take Llama which is 15 times faster and 100 times cheaper than ChatGPT at summarizing documents. So let’s build a tool to help users to use the right LLM for the right prompt every single time.

Market Size: The LLM market was worth around $64bn in 2023, but is growing rapidly

2. Solution ✅

The Idea: A tool which dynamically routes prompts to the best LLM based on the user’s chosen criteria

How it Works:

• A user signs up to the platform and receives their API key

• They then decide on what they want to prioritize in the models selected between speed, cost or response accuracy, which they can tune themselves

• When they enter prompts into the platform it is dynamically routed to the best model for their needs based on the selected criteria

• Users have access to every LLM on the market through this account and don’t need separate accounts with all of the providers, making this highly convenient too. The platform just does API calls to each LLM when needed.

Go-to-market: Focus on working with devs who use prompt engineering religiously and expand from there

Business Model: Charge a small fee per prompt. Customers will be happy to pay if they can offset this cost against savings from using the product

Startup Costs: You’ll need to work with some very talented engineers to build this, so be prepared to cough up some cash or equity to get them on board

3. How You’ll Get Rich 💰

Hold: This could be a huge business and one which you should hold for a very long time, only selling in the far future (if ever)

TOGETHER WITH INTERNET PIPES

You Think You Know The Internet. You Don’t.

Did you know there’s a tool to see how subreddits are connected?

What about this tool where you can view any website at any point of time?

Or this tool that converts any website into an editable Figma file?

Not so long ago, this information was impossible to discover. No amount of money could tell you that millions of people are interested in butterfly pea tea!

But thankfully, a magical place called the Internet has ushered in a new era.

Unfortunately, a small percentage of people know how to leverage it effectively.

Internet Pipes (by Steph Smith) exists to give you that leverage. Last week we gave away a free subscription to Internet Pipes, but because there were so many entries we asked Steph to help us out. And boy did she deliver.

Use code HALFBAKED at checkout to get 30% off Internet Pipes.

P.S. Internet Pipes' price increases with time, and this discount code is temporary, so this is the best value you will ever get.

DRUNK BUSINESS IDEA

Plant Urinals

We all own plants in our homes we constantly forget to water. Most of my plants need an IV they’re so dehydrated.

But with this new tool you can water your plants in a simple, convenient way, killing two birds with one stone.

Coming soon to a store near you!

JUST THE TIP

Trend 📈: Programmatic SEO

With the AI revolution, programmatic SEO has become a real trend. Simply put it’s a strategy that involves using AI to create and optimize a large number of unique, high-quality web pages at scale in order to rank for a high amount of keywords. It’s highly effective and people are making serious bank with this.

Business Ideas

• Programmatic SEO Agency: an agency which automates the creation of optimized landing pages, articles, and other content for programmatic SEO purposes

• Programmatic SEO Consulting: Provide consulting services to businesses looking to implement or improve their programmatic SEO strategies

THE MONEYSHOT

Turning a High School Yearbook into a $26bn Business

They say you shouldn’t mix business and pleasure.

But this founder recruited her boyfriend when she started her business…which turned into a $26bn tech giant.

This is her story.

Melanie Perkins was just 19 when she had her big business idea.

It was 2006 and she was studying at university in Perth. At the time Melanie had a side hustle teaching other students how to use design programs like Adobe. But she was shocked at how hard these tools were to use. She wanted to build an easy-to-use, collaborative, design tool. But first…she needed to validate her idea.

So she recruited her boyfriend Cliff Obrecht and together they created an online school yearbook design business, Fusion Books, to test out their idea. Students could collaborate and design their profile pages and articles and the pair would then print the yearbooks and deliver them to schools across Australia.

They spent years building this business up, but Melanie wanted more. She still wanted to realize her vision of creating an all-in-one design platform. But in order to do that she needed money…so pitched her vision to VCs.

Over 100 of them actually. But all of them said no.

The fact that Melanie and Cliff were a couple, non-technical and based in Australia made them radioactive to VCs.

But Melanie refused to give up.

Then she heard about a gathering of VCs and founders who kite-surf in Maui. So her and Cliff spent months practicing the sport, and cashed out nearly half their business bank account to book flights and accommodation to go on the trip.

It was worth every penny.

On the trip they met fellow Australian Rick Baker, who was launching a Sydney-based VC firm called Blackbird Ventures. He agreed to give them $1.3m, which was matched by the Australian government. They had their first investment.

One condition of the raise was that they had to bring on a technical co-founder, so in 2012 they teamed up with Cameron Adams and launched their platform.

They launched Canva.

From there the business got off to a slow start, but as the product improved and the network effects kicked in it grew like a weed.

In order to support their growth Canva has raised over $600m, with the company valued at $26bn in a recent secondary sale.

Today there are 180 million users worldwide who use Canva with over 16 million paying subscribers and the company generates more than $2bn in revenue every year.

Oh and for the record her and Cliff are still together today…they’re married and had their first child together in 2022. Talk about a power couple.

The big learning from Melanie’s story is that sometimes you have to follow your gut, ignore the no’s and just keep going.

INFLUENCER IDEAS

#HalfBakedBizIdea

Cody Schneider with a super interesting idea in the AI influencer space.

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