Finding your ideal customer profile; GPT healthcare startup ideas; Instagram co-founders' new AI news app
Hello, welcome to this edition of Double Take on product, health tech, and media.
I love a good list. New York mag shared 194 life rules including how to text, tip, ghost, host, and generally exist in society today. What to say when you greet a famous person? “Oh, of course! So nice to meet you.” That’s it.
Pinterest released its infamous annual Pinterest Predicts report, predicting the top 27 emerging trends of 2023. Some trends that caught my eye: primal workouts, hipstoric homes, pool parties for dogs, and scalp care.
Now onto the regular programming 👇
💻 Product
Guide to product-led onboarding. Onboarding is the one experience every single user will have. In product-led growth, the product will act as the primary vehicle for that experience. This guide answers how to get new users experience value as quickly as possible, enable users to try and buy via self-service, and run experiments to improve activation and conversion.
Finding your ideal customer profile. PostHog shares how building for very specific users (ICPs) drove their revenue jump. They focused on the needs and haves that customers had in common, rather than vague factors like industry and revenue. Tracking customers (both successful ones and bad ones) gave insight to what the ideal customer profile looked like. They focused completely on the ICP with a goal of getting 5 reference customers. Finally, they modified pricing to fit their specific customers and made it self serve, usage-based with a generous free tier.
4 CPOs’ insights on career transitions. A roundtable discussion with 4 CPOs sharing their career errors and lessons on career transitions. Some nuggets: define criteria you’re seeking in a career and recognize they’ll evolve; don’t easily jump ship when you’re frustrated, working through it can lead to the greatest growth; for expecting women, think about the impact waiting will have on your career trajectory.
📠 Health Tech
GPT healthcare startup ideas. Finally, some tangible use case ideas for GPT in healthcare. My favourite is to answer queries in provider manuals, hundred page documents about how a provider gets credentialed and bill for services. The broad use case of chatGPT as a better search tool to consolidate answers from complex content is valuable in anything that has complex/convoluted content, like healthcare government websites.
The big tech advantage in healthcare. Paul Keckley argues that 2023 will be a transition year for US healthcare’s future, with more regulatory scrutiny of consolidations which have failed to deliver savings to consumers, more investments in care delivery and financing, and more transparency in prices, costs, governance, and compensation. Big tech’s advantage is that they develop system solutions applicable to many industries while healthcare develops specific solutions that protect them from outsiders who challenge their status quo.
SMART on FHIR chat. There’s a great talk on Feb 16 about how to use SMART on FHIR in the real world, with examples of integrating it with three major EMR companies, and how to overcome challenges building apps using SMART on FHIR.
📣 Media
Instagram co-founders are back with AI news app. Kevin Systrom and Mike Krieger are back with a new venture, Artifact, “TikTok for text”. It personalizes a news feed using machine learning to understand articles you’re interested in. Systrom said they had 3 criteria to start the next new company: a new wave in consumer technology that they can catch; a way to connect that wave to social technology; and an idea for how the product could solve a problem.
Annual tech trends for 2023. Ben Evans’ annual presentation on macro and strategic trends in the tech industry. This year’s theme is “The New Gatekeepers”. It’s fascinating to see the dramatic decline of department stores’ share of retail revenue and newspaper’s share of advertising revenue over the decades, and the rise of software eating advertising.
