Mike Hudack

It's important. Oh, yeah. The first thing I'll say is that one of my favorite lines about this is, I think it's originally a Walt Disney quote, which is, we don't make movies to make money, we make money to make more movies. And Facebook co-opted this, and it's in the little red book, you know, which is, we don't make services to make money, we make money to make better services.

And I really believe that the most successful companies in the world have that view. I think that you can build an incredibly successful company that makes you millions of dollars that does not have that view. You know, that's kind of like the more mercenary approach, but you kind of need to decide who you are before you start with your pricing strategy.

And I really believe that the most successful companies in the world have that view. I think that you can build an incredibly successful company that makes you millions of dollars that does not have that view. You know, that's kind of like the more mercenary approach, but you kind of need to decide who you are before you start with your pricing strategy.

And I really believe that the most successful companies in the world have that view. I think that you can build an incredibly successful company that makes you millions of dollars that does not have that view. You know, that's kind of like the more mercenary approach, but you kind of need to decide who you are before you start with your pricing strategy.

But putting that aside for a moment, I think you just with an AI company, it feels really clear to me that you look at the number, the amount of human input that you're saving And the cost of that human input, and I mean total cost, I mean salary, emotional damage that you have to sustain in doing the work, you know, all of that stuff.

But putting that aside for a moment, I think you just with an AI company, it feels really clear to me that you look at the number, the amount of human input that you're saving And the cost of that human input, and I mean total cost, I mean salary, emotional damage that you have to sustain in doing the work, you know, all of that stuff.

But putting that aside for a moment, I think you just with an AI company, it feels really clear to me that you look at the number, the amount of human input that you're saving And the cost of that human input, and I mean total cost, I mean salary, emotional damage that you have to sustain in doing the work, you know, all of that stuff.

And by the way, those two things are very important because like, you know, some things in the world are really, really annoying, but only take like five or ten minutes. But if you automate them away, I'll pay more. than the time saved because of the emotional damage you're saving me or the frustration that you're saying, right?

And by the way, those two things are very important because like, you know, some things in the world are really, really annoying, but only take like five or ten minutes. But if you automate them away, I'll pay more. than the time saved because of the emotional damage you're saving me or the frustration that you're saying, right?

And by the way, those two things are very important because like, you know, some things in the world are really, really annoying, but only take like five or ten minutes. But if you automate them away, I'll pay more. than the time saved because of the emotional damage you're saving me or the frustration that you're saying, right?

So you have to kind of like apply that lens or that adjustment factor. And then I think you just apply a discount. Like, okay, I just saved you $100,000 worth of labor, $50,000 worth of emotional damage, $150,000. Okay, it's a machine doing it, so I'm going to price that at a 75% discount or a 50% discount or an 80% discount.

So you have to kind of like apply that lens or that adjustment factor. And then I think you just apply a discount. Like, okay, I just saved you $100,000 worth of labor, $50,000 worth of emotional damage, $150,000. Okay, it's a machine doing it, so I'm going to price that at a 75% discount or a 50% discount or an 80% discount.

So you have to kind of like apply that lens or that adjustment factor. And then I think you just apply a discount. Like, okay, I just saved you $100,000 worth of labor, $50,000 worth of emotional damage, $150,000. Okay, it's a machine doing it, so I'm going to price that at a 75% discount or a 50% discount or an 80% discount.

And maybe you get away with an 80% discount. Sorry, a 20% discount, charge 80%. I don't know, but I assume it isn't that bad to do 50%.

And maybe you get away with an 80% discount. Sorry, a 20% discount, charge 80%. I don't know, but I assume it isn't that bad to do 50%.

And maybe you get away with an 80% discount. Sorry, a 20% discount, charge 80%. I don't know, but I assume it isn't that bad to do 50%.

I believe you can go up. But I think you need to be thoughtful about it. So when I was working at Monzo, which is like a big new bank in the UK, we had a we had a bunch of problems. I mean, one was that we were a regulated bank and people didn't think of us as a bank. So you're you have the you have all the downside of being a bank without the upside.

I believe you can go up. But I think you need to be thoughtful about it. So when I was working at Monzo, which is like a big new bank in the UK, we had a we had a bunch of problems. I mean, one was that we were a regulated bank and people didn't think of us as a bank. So you're you have the you have all the downside of being a bank without the upside.

I believe you can go up. But I think you need to be thoughtful about it. So when I was working at Monzo, which is like a big new bank in the UK, we had a we had a bunch of problems. I mean, one was that we were a regulated bank and people didn't think of us as a bank. So you're you have the you have all the downside of being a bank without the upside.

And another problem was that we just didn't charge quite enough money, like we didn't have enough things that made money. And that was kind of OK before COVID. But then our number one revenue stream was actually people using their debit cards overseas and the interchange you get from that. And that went away overnight and we were totally screwed.