The hype is palpable. Self-driving car services are a hot topic of conversation as tech people from near and far gather at TechCrunch Disrupt 2024 in San Francisco, one of the few locations where Waymo will be open to the public.
Pega Ebrahimi, co-founder and managing partner of FPV Ventures, said on stage at TechCrunch, “Given all the hype around AI, everyone is going to be excited about self-driving cars in 10 years.” spoke. Disrupt 2024. “It's not going to be perfect for a while, but people are so excited and live in an optimistic world that it can happen and they want everything to happen right now. ”
The excitement about Waymo among Disrupt attendees from outside San Francisco is a clear example of how hype works. We invest more in what might happen in the future than in what is actually happening now. That means Waymo is slower (and sometimes more expensive) than Uber. But sharing videos of self-driving cars on social media can be fun and irresistible.
For Bullish director Natalie Sportelli, social media is an important part of the hype machine.
“I think the excitement of the internet and the media is creating a lot of hype for consumers.” [products]” Sportelli said on stage. But social media doesn't just work for futuristic experiences like Waymo. Even Mill, which founder Harry Tannenbaum calls “a raccoon's worst nightmare,” has managed to leverage its more than 80,000 followers on Instagram with its high-tech trash cans.
“We're asking people to jump in the dumpster with us,” Tannenbaum said. “Anytime you can help us spread the message and build content that is really exciting and interesting in its own right, I think it’s much better than paying for clicks.”
The mill's bin dehydrates the compostable material and grinds it into a powder that can be used for gardening or as chicken feed. While trash technology may not be particularly attractive, its business can easily be reframed as a valuable green technology with the potential to reduce food waste (as mills consume on average Currently, the device costs $360 per year, if it can reach a price point that is accessible to the public.)
On the consumer side, Sportelli says the best way to capitalize on the hype is to build lasting relationships with customers.
“One thing I've definitely learned throughout my various careers is that if you really love the product experience and love the way it feels, people will love you and keep buying from you,” she says. Said. Whether it's a trendy product like Glossier face wash or, yes, a trash can. “This also applies to B2B SaaS. For example, I love Guideline, my 401(K) provider. It's software and I think the experience is great.”
Given the current hype cycle around AI, some companies are keen to tell investors that they are leveraging AI, while others are less explicit. What you might not know at first glance at Mill's product is that it uses AI to recognize when there is enough food in the container to begin the dehydration process.
As an investor, Ebrahimi is more interested in a company's overall potential than its relationship to media stories.
“If I'm actually solving a problem, I wouldn't talk about the hype. I'm like, this is the problem I'm solving,” she said. “You don't want to hear about the hype. …What you want to know is, what are you solving? Can you solve it efficiently?”