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el producto #340 ๐Ÿš€

Generative AI in fintech, Prime Day records, Google's AI note-taking tool, Free resources to build a membership service, AI tools for design, Threads ads & more

Angel Jaime
Jul 16, 2023
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el producto #340 ๐Ÿš€

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Hey team,

Happy weekend and welcome to a new edition ofย el producto!


๐ŸŽฐ The week in figures

$12.7B: Amazon's Prime Day event was aย record-breaker, with U.S. shoppers spending $12.7B during the two-day sale event, a 6.1% increase in sales year-over-year

$1B: Domino's is partnering with Uber to list its menus on Uber Eats and Postmates in 28 markets, including the US, UK, and Canada, aiming to generate $1B in new sales

$200M: AI model startup Hugging Face is looking to raiseย $200Mย in Series D funding at a valuation of $4B

1K: Binance has cutย over 1,000 jobsย in recent weeks as regulators ramp up their scrutiny of the troubled cryptocurrency exchange


๐Ÿ“ฐ Whatโ€™s going on

Meta plans to release a commercial, open-source version of its AI model, LLaMA, to compete with OpenAI and Google, enabling customization and app development

Instagram plans to introduce its branded content tools to Threads, offering marketers an opportunity for paid promotion on the app before ads are officially permitted

Google Play has announced a policy shift to allow developers to integrate NFTs into their apps and games

Google has expanded its Bard chatbot to theย European Union and Brazil, offering new features, including support for overย 40 languages

Google has opened up its AI note-taking tool, now calledย NotebookLM, to a select group of U.S. users;ย formerly called Project Tailwind, theย rebranded toolย can summarize notes, generate new ideas, and answer questions, all with built-in citations

Twitter has started paying popular creators through its newย revenue-sharing program;ย Twitter aims to draw more content creators to its platform amid growing competition from Meta's Threads app

Anthropic, a startup founded by former OpenAI research executives, has launched itsย latest AI chatbotย to the public;ย users in the U.S. and U.K. can now try out the beta version of Claude 2 atย claude.ai

OpenAI opened up its Code Interpreter model, which can do AI-powered data analysis and visualizations, to all ChatGPT Plus subscribers

Stability AI has introduced Stable Doodle, a new tool that transforms sketches into high-quality images, designed to assist creative professionalsย 

Elon Musk announced his new AI company, xAI, with a stated goal of understanding the "nature of the universe"

China's internet watchdog plans to implement tighter regulations for generative AI, requiring companies to obtain a license before launching new AI-powered technologies

Snapchat's Snap Star, a rev-share program for creators, led to user engagement with Snapchat Stories more than doubling in Q1

Retro, an Instagram competitor created by former Meta employees, launched in beta; the app is designed for close friends instead of brands and creatorsย 


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๐Ÿ“š Good reads

How to build a $2000/mo membership site for $0. A simple guide full of free resources, by Jon Brosio

How to use the Lean Canvas, an essential Product Strategy tool, by David Pereira. Lean Canvas is a simple canvas that helps in making decisions on the fundamental aspects of a new business idea. Crafting a Lean Canvas leads to clear alignment and focus on the most relevant aspects of the business idea

6 superpowers to seek out as a Product Manager, by Nikhyl Singhalย (VP of Product at Meta). Nikhyl writes that leaders in product management donโ€™t really face a single big problem, but rather, ambiguities across 6 categories:ย product, growth, domain, market, organizational, and team.ย He notes that, realistically, if you want to be elite you should aim to master 2 of them

Source: The Skip

What leadership isnโ€™t about. Akash Gupta argues that leadership isย not about:

  • Merely discussing project status during 1 on 1s

  • Only dealing with the tactical aspects of a project

  • Focusing solely on blockers that are hindering progress

  • Giving feedback only about the content of work done

  • Ignoring the holistic growth of your team

That's a limited perspective. Anyone can do that.

True leadership is about:

  • Delving into the context during 1 on 1s, not just the content

  • Understanding how team members feel about their work

  • Helping them shape their career growth

  • Fostering a growth-oriented mindset within the team

  • Providing support to deal with setbacks and helping them bounce back

Start with these questions:

  • How do you feel about the work you're doing?

  • Are you facing any challenges or roadblocks?

  • How can I assist you in overcoming them?

  • What are your career growth aspirations?

  • How can I help you achieve them?

  • How has your mindset shaped your work?

  • Have recent setbacks affected your motivation or performance?

  • How can we address them to ensure your wellbeing and productivity?

The state of Generative AI in financial services. Within financial services organizations, AI is nothing new. If you want to understand how Generative AI can bring something new to the table, I highly recommend reading this long read article byย Bain Capital Ventures. Also, the Hype graph below is quite telling; think of 2020 & Autonomous Vehicles, 2021 & NFTs, 2022 & Metaverse, 2023 & GenAI, 2024 &โ€ฆMixed Reality?

The worldโ€™s most powerful UX laws, and how they are used by top apps, by Felix Lee

  • The Aesthetic-Usability Effect:

    • Users perceive aesthetically pleasing design as more usable

    • People are more tolerant of minor usability issues when the design of a product or service is aesthetically pleasing

  • Law of Prรคgnanz (Spotify):

    • People interpret complex images as the simplest form possible

    • Simplicity and order prevent information overload

  • The Fitts Law (Airbnb):

    • Time to acquire a target depends on distance and size

    • Touch targets should be large and easily reachable

  • Peak-End Rule & Serial Position Effect (Duolingo):

    • People judge experiences based on peak and end moments

    • The first and last items in a series are most memorable

  • Jacobโ€™s Law (TikTok):

    • Users prefer apps that work similarly to ones they know

    • Create familiar experiences to enhance ease of use

  • Von Restorff Effect (Spotify, Evernote):

    • Different objects are more memorable in a group

    • Highlight important elements to make them stand out


๐Ÿ”ฎ Emerging trends

AI tools for web design

In the evolving landscape of web design, AI has emerged as a game-changer, wielding its power to automate repetitive tasks, craft visual assets and content, and generate a variety of user interface (UI) mockups. Whether you're a Product Manager, UX designer, front-end developer, or visual artist, here are some AI tools to have on your radar:

Website builders

  • Zyro: Website builder with an AI writer, slogan generator, image background remover, and more

  • Appy Pie:ย No-code AI app platform that offers anย AI builderย to generate websites with only a few sentences

  • Uizard: AI-enabled UI design tool for designing wireframes, mockups, and prototypes

  • 10Web:ย Fast AI website builder for WordPress

Image/content generators

  • Stable Diffusion:ย Diffusion model that generates photo-realistic images from text prompts

  • Dall-E 2:ย OpenAI's system for creating realistic images and art from natural language descriptions

  • Jasper:ย AI art image generator and writer

  • Vance AI:ย AI photo enhancement and editing

  • Sensei: Adobe's AI/ML technology for creators to locate assets, add photo effects, and generate content


Thatโ€™s all for today! Let me know what you think by replying back to this email or commenting on Substack

Angel

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