GPT-4-Generated Pitches Are 3x More Likely To Secure Funding Than Human Ones - S...
source link: https://slashdot.org/story/23/06/17/0018224/gpt-4-generated-pitches-are-3x-more-likely-to-secure-funding-than-human-ones
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
GPT-4-Generated Pitches Are 3x More Likely To Secure Funding Than Human Ones
Catch up on stories from the past week (and beyond) at the Slashdot story archive
binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe offtopicflamebaittrollredundantoverrated insightfulinterestinginformativefunnyunderrated
Sign up for the Slashdot newsletter! or check out the new Slashdot job board to browse remote jobs or jobs in your area
According to the survey, the investors and business owners were three times more likely to invest after reading the GPT-4 deck than the human one, and they found the AI-generated decks twice as convincing. Furthermore, one in five of those professionals said that they would invest $10,000 more in the AI-generated pitches. The survey also tested the effectiveness of the decks across different industries, including finance, marketing, and investment. Unsurprisingly, across all of these industries, the GPT-4 decks were more successful in securing investments. The survey doesn't disclose which GPT-4-based AI chatbot the survey is using.
-
›
According to a random hunch, 2/3 of the investors asked, used GPT to evaluate the pitches.
But seriously, they are looking for something unique. Any change in language, for better or worse, will make a pitch stand out. It probably had a lot less to do with the content itself than the perception that the writer is "different" somehow.
-
Is ChatGPT unique because it doesn't make grammar and spelling mistakes, unlike hu-mans?
-
Possibly it's also related to the certainty with which ChatGPT makes its claims. There is never any feeling of doubt in its mind, no feeling of not over-promising, no... sense of reality, if you will. It's told to generate a winning script, and it will do so - whether able to follow through on it or not.
-
All this proves is that "investors" have no idea how to evaluate the real viability of a project, they just look at how shiny the presentation is.
-
Is capitalism's claim of efficiency just an AI-like con job?
-
Capitalism will generally decide much more quickly if something is a loser thus minimizing investment. Or rather, it used to before the rise of stakeholder capitalism. Incidentally, this combined with ESG has caused Disney's incipient downfall.
-
-
It also proves that pretending to invest is very different from investing.
-
-
-
by ganv ( 881057 ) on Saturday June 17, 2023 @09:26AM (#63610134)
Mark 2022-2023 as the years this happened. A large section of human activities that has used generation of effective marketing materials as metrics for excellence and allocation of resources has been destabilized. A rational path forward is to recognize that comparing marketing materials was always a bad way to allocate resources. But we are so deeply caught up in the supremacy of marketing rhetoric and images and video that it is very hard to rebuild systems that evaluate excellence on the basis of actual production of quality goods and services.-
Although AI lacks common sense, marketing is the reverse of common sense, so AI has a leg up.
-
-
If human had made up their facts and their cost analysis as much as the GPT engine did, they would have had just as much success, investors are well known to be gullible.
-
People who see through bullshit work in technical areas; investors are not smarter, just incredibly entitled. Dipshits with money, that's Silicon Valley.
This is the one and only reason Elon Musk is successful, he knows how to manipulate morons managing money.
-
Elon's advantage is even thinner. As a moron with money (thanks to his Dad), morons managing money are naturally predisposed to listen to him. Had he been born middle class, he would instead be that barista that keeps fucking your order up. The rest of it is just a matter of having enough money to keep trying until something pays off.
Honestly, I believe our economy, technology, and even our culture would advance better if we rounded up the morons in finance and dropped them on an island somewhere. It's time
-
-
Clear, effective writing is a serious skill requiring years of experience and feedback, as well as editing, etc etc etc.
The typical tech founder has essentially near zero quality writing experience.
So, yeah, the pitch made by a computer basically rehashing previous successful pitches is not surprisingly going to be better than some developers who have trouble forming coherent sentences in English.
-
But us humans are still better at lying! You left that part out.
-
Lol, I was about to agree but no, chatgpt has any number of documented hallucinations. It's really good at lying.
-
ChatGPT doesn't have a conscious, so it probably does a better job creating pitches telling investors what they want to hear that isn't based on economic reality or realistic time constraints. It would probably make a good tech CEO as well, as it seems to have it's own built-in reality distortion field regarding technical details.
-
It would probably make a good tech CEO as well,
Exactly. All the known 'faults' of current LLMs, such as hallucinations, are bonuses in a world of unicorns.
-
Very few successful startup CEOs/founders have a conscious or sense of ethics. If you read the stuff put out by venture guys and people in the business of picking new founders to fund, etc, those are considered positive traits in that field. It is well accepted that the typical CEO is a narcissist and sociopath.
-
-
-
-
What you're saying here is that ChatGPT is very good at being mellifuous.
-
Do I know ChatGPT did not generate the above comment, because it would have spelled mellifluous right?
-
New Spelling detected. Adding to memory. Thank You for your comment and have a fabulous day!
-
-
-
Impressing the VC class is like impressing people who drool on themselves.
-
But when was the last time you got rich bullshitting an investor?
-
-
To me while this shows that AI is still advancing on the other hand it kinda confirms that VC funders aren't these wise sages who have the gift to pluck the real geniuses out of obscurity but still just people reacting to their subjective whims.
It would be interesting to see the success rates in a few years of these companies. Did the AI ors succeed? Isn't that the metric we are really after?
This really makes what we all think happens does happen. Put enough razzle dazzle and buzzwords to get funded. Aft
-
I'd hazard a guess that gpt4 has a snapshot of the trending buzzwords of the past 5 years. Once a critical mass of pitches are machine generated and these are used in newer models the entire thing will disappear up its own asshole.
-
Since we know that most "pitches" are full of "unrealities", does this mean ChatGPT is a better liar than a group of humans?
-
This is a biased antidote to support a sales pitch. Thanks for that slashdot.
-
Antidote? Thus proving that chatgpt beats humans? Or that it beats autocorrect?
-
anecdote
I can't type to save my life.
-
-
-
Chatbots are able to generate bland mediocrity that exactly conforms to expectations
In pop music, expert teams of composers, arrangers, lyricists, producers, engineers, trendmongers, fashionistas, marketoids, choreographers and other assorted specialists create artless, mercenary, industrial product, expertly crafted to sound familiar but just the tiniest bit different enough to not be exact copies of existing hits
This is exactly the same thing that chatbots do
-
Investors were given pitch decks written out in longhand, and also typed on a typewriter. They preferred the typed ones 2:1.
In other words, everyone will use chatgpt to write pitch decks and we can all stop talking about it like it's some immense revolution.
-
the only relevant info from the methodology:
"...we provided GPT-4 with various prompts for each industry to generate pitches."Various prompts - so it's possible that the chatbot entirely created the pitch, or it might have done some editing/polishing of the "prompt" - or anything in between.
This bullshit is not worth reading, the less commenting...Remember the firm that produced this fake study: Clarify Capital. And avoid them.
-
What this really means, is that ChatGPT has learned to lie as convincingly as a good used car salesman. If we don't know that we are talking to something with the equivalent morals, we don't automatically set our bullshit detectors to max.
-
The human tries to make money by telling the truth.
The bot tries to get investors by saying whatever they want to hear.
Not surprising that the bot gets funded more. What would be surprising is if the bot makes more money.
</section
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK