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$250k for your AI-first product startup

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Re: $250k for your AI-first product startup

#61

Post by preommr »

seibelj wrote: post #25

Is anyone actually using co-pilot? They claim “millions of users” but I seriously doubt millions of programmers opted into paying $10 per month for it. A lot of these stats seem highly suspect.

I am using it and paying for it.

It often helps with either typing something out or having to search for something online. As an example, it really helps with switching in between languages where I sometimes forget the exact method name or syntax. Co-pilot helps generate code that I can easily verify but would be annoying to write.

Re: $250k for your AI-first product startup

#63

Post by marc_rich »

It amazes me how many VCs or angel investors will put out all this information about what they want to see in a company or founder they invest in, but close to nothing about themselves on their website.

“We have money to invest come and apply to us and we will determine if you are good enough.”

Bro please.

If we are building game changing AI before we take your money we want to know what you stand for. What are you made of. How do you want to shape the world. What’s your track record of dealing with small companies. What’s your philosophy around investor relations. Prove to me you’re not a complete dick to work for or to have on the board.

Re: $250k for your AI-first product startup

#64

Post by O__________O »

echelon wrote: post #50
flaque wrote: post #34

Hey folks, this is Evan from AI Grant! We're excited to support founders building new AI products. AI Grant is investing $250k on an uncapped, no-discount, MFN SAFE, as well as providing more than $300k in cloud credits. AI Grant used to do small grants in lots of AI research projects. Now, we think there's plenty of research, and what's needed is products: so we're doing bigger investments in founders building produ…

How does the "uncapped, no-discount, MFN SAFE" work? What does that mean in terms of the percentage of equity you'd take? I'm self-funding fakeyou.com from a previous exit. My AI/ML startup is called "Storyteller" and my team is about to launch real time voice conversion (you -> Trump, Adele, etc.), music generation (instruments + vocals), and real time motion capture (for film and animation, essentially super high q…

Beyond your specific question, which appears to have been answered, highly recommend the book “Venture Deals” to learn more about equity based funding:

https://www.amazon.com/Venture-Deals-Smarter-Lawyer-Capitali...

Re: $250k for your AI-first product startup

#65

Post by pnw »

marc_rich wrote: post #63

It amazes me how many VCs or angel investors will put out all this information about what they want to see in a company or founder they invest in, but close to nothing about themselves on their website. “We have money to invest come and apply to us and we will determine if you are good enough.” Bro please. If we are building game changing AI before we take your money we want to know what you stand for. What are you m…

There’s a pretty decent set of info and links to personal profiles on their website. If that’s not enough for a founder to do due diligence, they probably aren’t cut out for VC fundraising.

And someone writing small checks like this is almost certainly not going to be on the board unless the founder is clueless.

Re: $250k for your AI-first product startup

#66

Post by kornesh »

O__________O wrote: post #60
kornesh wrote: post #24

I'm working on building a search engine specifically to help with prompt engineering https://pagebrain.ai/promptsearch/ Is this useful enough to be a startup?

Where are you scraping data from? Appears super similar to Lexica.art, but less data; for example, appears you’re missing even the limited about of parameters listed by Lexica, which still are incomplete. https://lexica.art/

From stable diffusion discord channel. That looks much better!

Re: $250k for your AI-first product startup

#67

Post by vosper »

sebmellen wrote: post #56
echelon wrote: post #50

Earlier quoted context omitted.

How does the "uncapped, no-discount, MFN SAFE" work? What does that mean in terms of the percentage of equity you'd take? I'm self-funding fakeyou.com from a previous exit. My AI/ML startup is called "Storyteller" and my team is about to launch real time voice conversion (you -> Trump, Adele, etc.), music generation (instruments + vocals), and real time motion capture (for film and animation, essentially super high q…

Very high level explanation of a SAFE is that it converts on the valuation of your next funding round. Uncapped means that if you raise at a $200m valuation in one year, the SAFE will convert to equity at 250k/200m or 0.125% of the company. More details here https://capbase.com/how-do-safes-work/ .

> Uncapped means that if you raise at a $200m valuation in one year, the SAFE will convert to equity at 250k/200m or 0.125% of the company.

How would it be different if it was capped? I went to your link but there are no mentioned of "capped" or "uncapped"

Re: $250k for your AI-first product startup

#68

Post by realbarack »

ks2048 wrote: post #36
realbarack wrote: post #29

Earlier quoted context omitted.

It's on an uncapped mfn safe, so the amount of equity will be determined by your other investors.

Okay thanks. Just wondering how it compares to YC. I know YC says mfn safe too but they say 7% (and it’s 500k and obvious differences in experience, mentoring, process etc)

Yep, basically this $250k is on the exact same terms as $375k of the YC $500K. (The first $125k of YC is for 7%, the next $375 is uncapped mfn.)
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