Discover more from BowTied Bull
The Upside Case on ChatGPT with BowTiedSystems
Level 2 - Value Investor
Welcome Avatar! Today we have BowTiedSystems here with a guest post. He has a nice rebuttal to our view that ChatGPT is overhyped/overvalued today. Have no problem hearing the other side of the coin and more importantly Systems is quite good at using new technology. So if you’re interested in this topic… Read on Anon.
I’m writing this in part because I’ve discovered some new use cases for ChatGPT and in part as a rebuttal to BowtiedBull.
Now In terms of the hype surrounding ChatGPT, I believe BTB is firmly on the dot. Like all trends, it’s a shiny new toy for the masses to play with. 80% of people won’t use it to its fullest potential. Just like sales technology. But the 20% that does find real utility will absolutely dominate their space.
Only 20% of users max on any given platform are power users (in some cases much less)
It’s a universal phenomenon across software platforms. ChatGPT is no different. What makes ChatGPT so interesting is the fact it constantly evolving.
The ChatGPT of today is V1. They’re not spending 3 million a month just because they feel altruistic. OpenAI is a Business just like any other, they have to make money. But that begs the question, why would they burn $3 million a month? The answer is quite simple. Before I give you the answer I need to explain how AI works.
AI in its simplest explanation is a trained predictive algorithm. You have a training data set and an algorithm (AI) that gets trained. So you need data to improve/train the AI. In ChatGPTs case it was trained on 300 billion tokens or 175 billion parameters
According to this 1,000 tokens = 750 words. Now, where does OpenAI find these tokens/words? From the internet. They pull from countless databases to train GTP-3.5 (including Twitter). But this data isn’t free. It cost money to scrap and compile this data.
So why would OpenAI release a free powerful AI to the public?
“if something is free, you’re the product”
Each user prompt and each ChatGPT output is being used to train the model. They’re spending 100k a day to train ChatGPT on real-world use cases. The current iteration is just the start.
The original GPT-3 was trained on 300 billion tokens. 300 billion tokens ÷ 750 words per token = 400,000,000 million words
At the current cost estimate of 100k per day, 3 million $ per month we can take the token costs from below to figure out how many tokens are getting used per day:
$100,000 a day ÷ $0.0200 per 1,000 tokens = 5,000,000,000 tokens per day
ChatGPT has been released for 44 days (Jan 12th at the time this article was written). 5,000,000,000 x 44 days = 220,000,000,000 tokens
220 billion tokens generated from real-world use. This will be used to train ChatGPT/GTP-3.5 in real-world use cases. Let’s not forget that OpenAI has received a total of 1.25 billion $ in investments and 10 billion $ on the way. They could hypothetically keep ChatGPT free for 34722222 years. Of course, there are other costs but this highlights how little it costs to run this in relation to how much funding they raised.
Is it the next Clubhouse?
Remember clubhouse? No? Well, you’re not alone. Clubhouse was a voice chat app that blew up overnight and disappeared from relevancy just as fast. No real utility outside hosting the equivalent of Twitter spaces.
Clubhouse catapulted Into the mainstream and fell into irrelevancy just as fast.
The only reasons it blew up so fast were:
It was launched during PEAK Covid-19 and PEAK boredom when everyone was indoors and working from home.
It was invite only so everyone tired to get an invite to feel cool.
It was the only voice-only social media app so it was very novel.
The news hyped it up as the next Facebook
It was just fun to use.
Nowhere in that list did it offer any real-world utility outside of entertainment.
ChatGPT on the other hand does. But I can see why BTB would see ChatGPT as a fad.
Look at the most popular Tweets/threads/content circulating on Social Media platforms. ChatGPT to them only serves as entertainment. It’s just a never-ending stream of “10 tips to use ChatGPT” to “How to use ChatGPT to grow on XYZ platform”
If you want to see what the masses plan on using this far look no further than where they spend most of their time and energy on: Status (Social media following) & Get Rich Quick Money Schemes
I suspect ChatGPT will mostly be used in these fields. This includes ideas generation, content, video scripts, quippy replies, platitudes, clickbait, appearing smarter than they actually are etc…
They’re outsourcing creativity and problem-solving to a surrogate brain. The problem with that is ChatGPT can’t think for itself. It’s a brainless calculator. So you get out what you put in.
Now I’m not saying ChatGPT hype will keep going strong into late 2023. In terms of hype, it will probably only last another 1-3 months. But the power users will stay. And the power users will have a distinct advantage when it comes to getting results.
Just like any technology, there’s a learning curve. Since ChatGPT has little to no documentation/tutorials/guides on how to use ChatGPT. This leaves a large swath of users stuck having to guess how to best use it. And If there’s one thing I know it’s the importance of explaining best software practices in an easy-to-understand format.
Since it’s not straightforward you’ll have many cases where people claim “It’s not that useful. It’s not giving what I want!” which actually means “I don’t know what to tell it to give me the result I want”
When using ChatGPT you need to have a defined outcome in mind if you want the best results. Try viewing ChatGPT as a language calculator. Input the correct & defined formula and you’ll get the result you’re looking for.
We can take 2 prompts and test them side by side and compare them.
Prompt #1: Break down why people would buy from this sales letter:
Prompt #2: I want you to analyze the text in quotation marks and give me an answer to the following questions from the reader's point of view
How is this different from everything else I’ve seen?
What’s in it for me?
How do I know this is real?
What’s holding me back?
Who/What is to blame?
Why should I trust you?
How does it work?
How can I get started?
What do I have to lose?
Prompt #1 is leaving it open to ChatGPT interpretation. There’s no real guidance or ideal outcome in mind. Why would they buy? How does ChatGPT decide this? You don’t know.
Prompt #2 has very clearly defined goals and ideal outcomes in mind. I used “The Chain Of Beliefs” created by Evaldo Albuquerque for my 10 questions. I learned this from @wifimoneyguy on Twitter. Thank you!
When using ChatGPT you need to have a clearly defined outcome in mind if you want the best results.
Real World Use Cases
We’re just starting to learn how to use ChatGPT. By now you’ve seen countless threads explaining how to use it for XYZ. But I think Marketing stand the most to gain from ChatGPT. It’s ability to analyze information is unmatched.
You can use it to:
Break down sales letters
Generating product angle ideas
Have it create content around buying personas
Re-word old articles
Generate ideas for SEO articles
And much more. In this article I’ll focus 1-3.
Breaking down sales letters
If you’re a copywriter then you spend a tremendous amount of time breaking down and analyzing sales letters. This is how you get good. You study whats working and apply it to your own sales letters.
This can take anywhere from 10 min - 4+ hours
Long from sales letters can be 6000+ words. It’s a lot to read/organize/take notes on. ChatGPT takes 10 seconds. So this article doesn’t run 6000+ words I’ll be using a short-from sales letter.
Lets break it down:
Hey, do you know what the most filthy germ ridden object in your whole bathroom is?
No, it's not the toilet or the trash can, not the sink either, but you are getting warmer.
It's your toothbrush after your dish sponge, and kitchen sink.
Your toothbrush is the dirtiest thing in your whole house. Scientists say that up to 100 million germs could be festering on the head of your toothbrush Right now, you might be better off cleaning your teeth with that other brush exposed in a bathroom all day.
Your toothbrush collects airborne germs from your toilet sink, even other toothbrushes, not to mention the germs from plaque that remain in your bristles.
After you brush these microscopic bacteria and viruses multiply on your toothbrush between every use, these germs in your toothbrush could be hurting you and your family's oral hygiene, causing bad breath or worse making them sick.
Brill keeps your toothbrush brilliant.
With the power of germicidal UV light automatically starts a 360 degree ultra-deep sterilization to the bottom of every bristle killing bacteria that causes cavities, gum disease, bad breath, even the flu. Over time, an exposed toothbrush can collect a mountain of microscopic bacteria, but once inside a Brill UV light will turn your toothbrush as clean as the day you bought it.
Once clean, Brill continues to shield your toothbrush for complete 24 hour protection.
Brill is rechargeable and lasts for 30 days on a single charge and fits every style and size of toothbrush.
The UV rays inside of Bri are safe and 100% natural just like the sun. In fact, it's the same technology used to clean hospitals, schools, and the International Space Station.
Use his, use it every day and every time you pop your toothbrush out of this, it's like having a brand new toothbrush every single time.
So if you are like me and you want less trips to the dentist, and you want a cost effective way to keep your toothbrushes clean and keep your family germ free, get Brill
My mouth already feels cleaner. Get yourself a Brill.
Brill is also convenient for travel and clearing up counter space.
Remember, you can't clean and protect your teeth till you clean and protect your toothbrush with Brill. Get yours today.
People would buy from this sales letter because:
It highlights a common problem that many people may not be aware of (germs on toothbrushes) and presents a solution (Brill)
It uses facts and statistics to support the problem and credibility (100 million germs on a toothbrush, same technology used in hospitals and space stations)
It offers a clear benefit to the consumer (less trips to the dentist, clean and germ-free toothbrushes)
It includes testimonials from satisfied customers
It presents the product as easy to use, rechargeable, and convenient for travel.
Anyone reading this sales letter can tell all of the above at a glance. It’s surface level.
This product, called Brill, is different from everything else in that it uses UV light technology to sterilize toothbrushes, killing bacteria and germs that can cause cavities, gum disease, bad breath, and even the flu.
By using Brill, the reader can improve their oral hygiene, potentially leading to fewer trips to the dentist and a cleaner mouth. Brill also provides a convenient and cost-effective way to keep toothbrushes clean and protect the reader's family from germs.
It is not explicitly stated in the text that Brill is real, but the text does mention that the UV light technology used in Brill is the same technology used to clean hospitals, schools, and the International Space Station, which could be seen as evidence of its effectiveness.
It is not clear what might be holding the reader back from purchasing Brill.
It is not stated in the text who or what is to blame for the reader's toothbrush potentially being the dirtiest object in their bathroom.
It is not mentioned in the text why now is the time to purchase Brill.
The text provides testimonials from people who have used Brill and have had positive experiences with it, which could be seen as evidence that the reader can trust the product. Additionally, the text mentions that the UV light technology used in Brill is the same technology used in hospitals, schools, and the International Space Station, which could further inspire trust in the product.
Brill works by using UV light technology to sterilize toothbrushes, killing bacteria and germs that can cause oral health problems. It is rechargeable and lasts for 30 days on a single charge, and it fits every style and size of toothbrush.
To get started with Brill, the reader would need to purchase the product and then follow the instructions for use.
It is not mentioned in the text what the reader has to lose by using Brill.
Much more in-depth. The fact it didn’t have answers for 4,5,6,10 means those are areas the sales letter could improve.
Using the prompt you can find holes in your own sales letters and analyze what works or doesn’t in others.
This is incredibly powerful!
Generate Marketing Angles
When crafting an offer/sales letter you NEED an angle. An angle catches the potential buyers attention. It’s a hook. It’s click bait. It’s the reason why they should click on your ad.
Pain + Vivid experience = Angle
Now how do you use ChatGPT to generate angles? Well there’s a few ways.
Simply ask for marketing angles for your product
Prompt it to list facts about the product - Stole this from @tahmmygiovanni on Twitter.
Compile a list of marketing angles already used for your product and feed it to ChatGPT and ask it create additional angles from them.
In this example I’ll be using a combo of 1 & 2 to create ideas for potential angles.
The product will be toothpaste tablets (Shoutout @bowtiedgator on Twitter. He has the amazing toothpaste tablets NOBS) I’ll be using ChatGPT in a conversational flow to train it. This is because I don’t have a define outcome I'm seeking. I’m simply looking for ideas. Each time I find an idea I like I ask it expand on it.
Here’s the flow of the conversation:
Generate 10 marketing angles for toothpaste tablets
Now explain how toothpaste tablets work
Explain how toothpaste is made into tablets and its history
Now break it down into each step
Now explain 10 negative facts about toothpaste that comes in a tube
Now explain 10 reasons why toothpaste tablets are better than toothpaste in a tube. Don't use environmentally friendly as a reason.
Now explain 10 reasons why toothpaste in a tube is unhygienic
List 5 studies about toothpaste in a tube getting contamination
List 5 studies about toothpaste getting contaminated
List 3 negative symptoms for Streptococcus, Staphylococcus, and Candida each
Now create 10 marketing angles around toothpaste in a tube contamination and what can happen if you get infected with either Streptococcus or Staphylococcus or Candida or all together Keep it short while providing all the needed information
You can find the full chat here: Click Here
As you can see I started off very broad as I’m not sure what i’m looking for. And as the conversation developed I became increasing more refined once I had a goal in mind.
In the end I discovered a brand new marketing angle; Contamination when using toothpaste in a tube vs tablets. I think this is an interesting angle because we’re dealing with oral hygiene, and contamination is the polar opposite outcome. This is a pain point. It’s an angle 📐
Now how long do you think it would take to Google all this information? 10 min? 30 min? 1 hour? 5 hours?
As an expert “Googler” I can confidently say this would take 2+ hours of reading various articles to get a similar outcome. And at much frustration.
You can find the full chat here: Click Here
Create content around buying personas
When you’re selling a product you should have specific buyers in mind like:
Moms vs single women
Single women with disposable income vs college students
Single men vs married men
Different age groups etc
It can be difficult to put yourself in the buyers shoes if you’re not that person. That’s where ChatGPT can come in handy. Since it has a vast amount of data it includes perspectives/text written from every viewpoint/perspective possible. This opens up a world of possibility since it can write from their perspective.
So. We continue the chat from generating Marketing Angles since it already has all the context needed.
I’ll be using the same conversational style prompts.
How would you sell this to a middle-aged mom with a couple young children
Now how would you sell it to a college aged man?
Now how would you sell it to a recently divorced middle aged man with children
Now how would you sell it to a recently divorced man in his 30s with disposable income?
Now how would you sell it to a recently divorced man in his 30s with disposable income and looking to date?
How would you sell this to a mom in her 20s with a young child
How would you sell this to a young women looking to climb the career ladder?
How would you sell this to a middle-aged mom with a grown children out of the house?
How would you sell this to a middle-aged couple?
For the full chat log: Click here
It’s not perfect but it’s successfully given me multiple buying persona perspective. This is incredibly valuable as now I can include this in my copy/sales letter.
For the full chat log: Click here
Wrapping it up
I think it’s pretty clear AI has arrived. It has real world use cases. And it’s effective. Now I do think that it’s currently overhyped and isn’t replacing jobs soon (unless you count VAs) but is best use as a supplement to current jobs.
If you have any tasks involving info gathering, summarization, analyzation, or just need inspiration then ChatGPT is amazing. As for more complex tasks that require creativity and problem solving I don’t this this iteration of ChatGPT is sufficient.
Substack post on Jan 2nd addressing ChatGPT
Conclusion: Therefore still interested in hearing any *current* real use cases beyond cheating on a multiple choice test. While you can try to get traffic running AI scripts, those websites go down extremely fast as algorithms catch them.
I think this post has more than addressed this. I’m more than happy to expand on this subject further.
And if you’re looking to learn how to leverage Linkedin Sales Navigator to its fullest capabilities then check out my course: Click Here.
Follow me on Twitter Here
Or Check out this thread
Disclaimer: None of this is to be deemed legal or financial advice of any kind. These are *opinions* written by an anonymous group of Ex-Wall Street Tech Bankers and software engineers who moved into affiliate marketing and e-commerce. We’re an advisor for Synapse Protocol 2022-2024E.
2017-2020 Old Books: Are available by clicking here for paid subs. Don’t support scammers selling our old stuff
Crypto: The DeFi Team built a full course on crypto that will get you up to speed (Click Here)
Security: Our official views on how to store Crypto correctly (Click Here)
Social Media: Check out our Instagram in case we get banned for lifestyle type stuff. Twitter will be for money. At 20,000+ instagram follows we will publish some city guides ranking each region we’ve been to