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Business Ideas #96: Stack Overflow for Prompt Engineering, Hybrid Athletes...

Plus the 22 year-old Who Beat Ferrari

Together with

Welcome to Half Baked, the newsletter serving up business ideas so innovative they’ll be trading on the Texas Stock Exchange one day (which they better call Y’all Street).

Here’s what we’ve got for you today:

  1. Business Idea💡: Solving the collaboration problem in prompt engineering

  2. Drunk Business Idea 🍻: The dating app you can’t lie on

  3. Just The Tip 📈: The rise of the hybrid athlete

  4. The Moneyshot 🤑: The 22 year-old Who Beat Ferrari

Psst…if you want to read any previous editions of Half Baked you can on our website.

Let’s get into it.

BUSINESS IDEA | STARTUP

Stack Overflow for Prompt Engineering ⌨️

Prompt and circumstance

Available Domain: Promptoverflow.com

💡 TLDR: A platform where users can share, give and receive feedback and troubleshoot each others prompts in AI models

1. Problem/Opportunity

The Problem/Opportunity: AI in changing the world in many fundamental ways. And one way in which AI has changed the world is it has created a whole new category of “engineers”…prompt engineers.

But as AI models get more widely adopted prompt engineering is a skill we will all have to master, which means we will all invariably run into issues and need help with our prompts from other users, the same way engineers do on Stack Overflow. So let’s create this product for prompt engineers.

Market Size: The global prompt engineering market size was valued at $213m in 2023.

2. Solution 

The Idea: A platform where users can share, give and receive feedback and troubleshoot each others prompts in AI models

How it Works:

  • Users create an account on the platform. They are then able to create posts about any prompts they’re having issues with, including the prompt they’ve used, what model they’re using, the output and what they’re trying to achieve

  • Other users can then comment and provide feedback on what the user should do to reach their desired outcome

  • All posts are publicly available and searchable so users can easily learn from each other

  • The platform could also expand to have private posts and other features for teams working in enterprises with their own LLMs.

Go-to-market: Your early users will be on prompt engineering subreddits, work closely with them to build their perfect product and you’re onto a winner

Business Model: Advertising revenue, licensing revenue and pay per seat for enterprises

Startup Costs: A few hundred dollars, this isn’t a very technical platform to be built

3. How You’ll Get Rich 💰

Exit Strategy: This would be a hugely attractive acquisition target for many businesses, maybe even Stack Overflow themselves.

Exit Multiple: The exit multiple here is tough to call and would depend on your revenue mix, but given it’s an AI play you’ll likely get a generous revenue multiple here

TOGETHER WITH VANTA

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DRUNK BUSINESS IDEA

Dating App with Fact Checking

Everyone lies on their dating profile, right?

Well not anymore with our fact checking dating app. Profiles are fact checked by friends, families and exes to make sure everyone’s being totally honest.

What could possibly go wrong?

JUST THE TIP

Trend 📈: The Rise of the Hybrid Athlete

Until recently athletes tended to lean into a single discipline. Weight lifters stayed in the gym and stayed away from cardio, whereas runners stayed away from weights. Until Nick Bare came along and jumpstarted the hybrid athlete movement, where athletes now try to lift heavy weights while also doing marathons, triathlons and so on.

Business Ideas

  • Hybrid Athlete Data Analytics: Create software or apps that analyze hybrid athletes' performance data across different sports

  • Hybrid Athlete Certification Programs: Develop a certification for someone to be classified as a “hybrid athlete”

  • Hybrid Athlete Newsletter: daily newsletter for hybrid athletes on news, events and equipment reviews in the sector

THE MONEYSHOT

Meet the 22 year-old Who Beat Ferrari

Back in 1994 Swedish entrepreneur and guy who sounds like a Bond villain Christian von Koenigsegg had a dream. He wanted to build a "world-class" sports car.

At age 19 he had already started a relatively successful trading business, but wanted to go all in on his dream of building a high performance car brand.

So in order to realise his dream he needed money. Fast.

Luckily for Christian he came from a wealthy family (his ancestors where literally knights in the Roman Empire). Couple this with a loan of 1 million SEK ($200k) from the Swedish state and some early investments from large Swedish companies like Volvo and Electrolux and Christian was off to the races.

But the journey to market was less of a race and more of a walk.

It took the company 2 years to build their first prototype, the Koenigsegg CC, and it took over 6 years for a Koenigsegg car to hit the streets. But they got there in the end.

Not only that but in 2003, 2 weeks before unveiling their first production model, a fire broke out in their storage facility. Luckily their cars were not damaged.

Fast forward to today and Koenigsegg is a $250m revenue per year business and the Koenigsegg Jesko Absolut is the fastest car in the world, capable of speeds in excess of 330 mph (although this top speed is from simulations).

Which all goes to show that all you need in order to be successful in business is a small loan of 1 million.

Where have we heard that before…

HALF BAKED PICK

Newsletter Pick: Bagel Bots

Every week 8,700 people read Bagel Bots to learn how to use AI to make more money and save more time.

What’s not to love?

X MARKS THE SPOT

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