Chris Savage Analyzes InVision's Downfall, Reviews Humane’s Product Reveal, and Discusses the OpenAI Drama

Chris Savage Analyzes InVision's Downfall, Reviews Humane’s Product Reveal, and Discusses the OpenAI Drama

This week, our dynamic duo, Brian Balfour and Fareed Mosavat, have the pleasure of hosting Chris Savage, the Co-Founder & CEO of Wistia. Our post-Thanksgiving menu features a hearty discussion about InVision's fall, spiced up with Chris' “Savage” critique of Humane's product reveal. Of course, we couldn't resist visiting the OpenAI drama that's been simmering recently. To round off, Chris shares a product he is excited about, Ro.am.

If you're finding value in our podcast, we'd appreciate it if you could pass it along to a friend and drop us (Brian & Fareed) a line with your thoughts on LinkedIn.

Now, let's jump right in!

OpenAI Drama: A Tech Telenovela with Real-World Implications 🎭

We couldn’t not talk about the dumpster fire that was OpenAI last week. It was out Taylor and Travis, and we simply couldn’t look away. That said, for our guest this week, the drama has some serious implications and there were a few key things that stood out.

🚀 The Speed of Innovation 🚀

One of the key takeaways from this saga is the speed at which AI is advancing. The ability to prototype and implement AI solutions has increased exponentially. This isn't just about making things faster or more efficient - it's about enabling new solutions to existing problems and opening doors to solve new customer problems.

And, because AI is letting us innovate at record speeds, hearing Emmett Shear (brief CEO during the recording of the taping) say he wanted to take AI’s speed of development from a 10 to a 2 left Fareed wondering, “Would you ever bet on a company that only wants to go at a 2?”

💼 The Impact on Businesses 💼

For businesses, the drama at OpenAI is more than just a juicy story. It's a wake-up call. Companies that have built their products around OpenAI's technology are now facing an existential threat. The uncertainty surrounding OpenAI's future could slow down the entire AI community.

🛠️ AI is Not a Strategy, It's a Tool 🛠️

We’re hearing too many company leaders talk about their AI strategy. But AI is not a strategy. It either enables new solutions to existing customer problems or allows us to solve new customer problems we couldn't solve before. And, the reason to use the tool is it probably enables a new approach to something we've been thinking about for quite some time but either couldn’t solve or couldn’t solve nearly as quickly.

For example, Chris talks about new features that would have taken 9 months to build being prototyped in only a few days. At Wistia, they've used AI to automatically transcribe videos, add chapters, and even find highlights.

🎯 The Power of Prototyping

With AI, the speed to prototype has increased dramatically. Why describe a feature in words when you can build a prototype in the same amount of time? Prototypes lead to better conversations and less misinterpretation.

🌐 The Bigger Picture

This debacle plays into every negative narrative about tech. Irresponsible leadership, big tech getting bigger, and a general lack of trust. It invites more uninformed regulation around this technology and amplifies the negative sentiment that's been growing around the tech industry for the past few years.

InVision's Decline: A Tale of Disruption and the Power of Going Deeper 📉

Ever wondered what happens when a company fails to evolve with the market? Look no further than InVision. Once a game-changer in the design world, it's now a shell of its former self. Why? Let's dive in. 🏊‍♂️

💪 Invision's Strong Start 💪

Invision, founded in 2011, was a game-changer. It offered a collaboration and prototyping layer on top of desktop tools like Photoshop and Sketch. It was a hit, raising $350 million and boasting 5 million users.

🎯 The Core Problem 🎯

InVision was a prototyping and collaboration tool that sat on top of desktop tools like Photoshop and Sketch. It allowed designers to add clickable areas and comments on top of visuals. But then came Figma, a tool that went one layer deeper into the design process.

🚀 The Rise of Figma 🚀

Figma started to take off around the time of InVision's last funding round. It offered a fully functional design tool in the browser, something InVision didn't have. The result? Figma swallowed up InVision's market share.

🔄 The Attempted Pivot 🔄

InVision tried to pivot, launching InVision Studio to compete with Figma. But it was too little, too late. The features just weren't there, and Figma had a head start.

📉 The Decline 📉

Today, InVision's revenue has been cut in half, and it's projected to drop even further. They've sold off their whiteboarding tool, Freehand, to Miro, and are left trying to figure out their next move.

💡 The Takeaway 💡

Standing still is the fastest way to fall behind. 🏃‍♂️💨 InVision's decline is a lesson in the power of going deeper into the customer problem. Figma's success shows that if you can solve and own a problem deeper in the stack, you can draw in everything else over time.

Will we see the same fate for Miro thanks to Figjam? 🤔

We don’t think so.

🌍 Different Worlds, Different Problems 🌍

Miro and FigJam may seem like direct competitors, but they're actually serving different markets. FigJam is deeply rooted in the design world, while Miro has found its niche among non-design functions. It's a classic case of every key fits a different lock. 🔑

🚀 The Power of Network Effects 🚀

Figma's success can be attributed to its strong network effects. It's not just a tool, it's a collaboration hub. Miro, on the other hand, has managed to create a similar network effect among non-design users.

🏗️ Building Deeper into the Stack 🏗️

Figma's strategy of going deeper into the stack has paid off. By solving the core design problem, it's managed to pull in everything else around it. Miro, however, has taken a different approach, focusing on a specific problem for a specific market. Will this strategy be enough to keep it afloat? 🛠️

🌊 Riding the Wave of Remote Work 🌊

Miro was one of the first fully remote companies of scale. This has given it a unique advantage in a world where remote work is becoming the norm. But with more tools incorporating remote collaboration features, can Miro maintain its edge? 🏄‍♀️

🚀 The Future of Miro 🚀

Miro's biggest challenge might be finding new adjacencies to expand into. With Figma moving into more areas of the software development lifecycle, Miro needs to find its own path. Could project management or generalized docs and collaboration be the next frontier? 🌌

Humane's AI Pin Launch Video: A Missed Opportunity 🎥

Humane's AI Pin has been the talk of the tech town recently. The product, which has been shrouded in mystery for a while, finally unveiled itself in a 10-minute launch video and it was a blunder. Let’s try to pin down just what went wrong.

🎯 The Good, The Bad, and The Ugly 🎯

Humane's launch video was a mixed bag. On one hand, it showcased a revolutionary product that could potentially change how we interact with technology. On the other hand, it left many viewers underwhelmed and confused.

🤔 What's the Point? 🤔

The video failed to answer the most crucial question: Why should we care? It focused on the aesthetics of the product (colorways, packaging) without explaining its core value proposition. It's like they assumed we already agreed with their vision.

📰 Silicon Valley = Not the Center of the Universe! 📰

We're all buzzing about the announcement in our tech circles, but does that mean the rest of the world is too? Knowing this all-star founding duo is our tech insider scoop, not a worldwide trivia. And just because our tech-savvy buddies are sharing Humane's NYT article left, right, and center, it doesn't mean those outside of our tech community are doing the same.

📱 Replacing the Smartphone? 📱

Humane's product aims to replace the smartphone, a bold claim. It's an appealing vision, especially for those of us who are tired of our screen-addicted lives. But the question remains - is the pin a viable alternative to our phones?

🎬 The Art of Storytelling 🎬

A good launch video should tell a compelling story. It should hook viewers, explain the product's benefits, and paint a vision of a better future. Humane's video did none of these.

🤷‍♂️ So, Who's It For? 🤷‍♂️

The video failed to identify its target audience. Is it for tech enthusiasts? Early adopters? The average consumer? Without a clear audience, the message becomes diluted and less impactful.

🔓 What is the unlock? The hardware… or the software… 🔓

Let’s be honest. We really just want a better Siri. One that can actually take care of business for us. If Humane has it, we want it, whether the improved Siri lives on a phone, in a pin, or on a headset…

🛍️🤣🛍️ But, we’re all still buying it. 🛍️🤣🛍️

No comment. Moving on.

Introducing Ro.am: The Meeting Killer and Culture Builder for Remote Companies 🚀

Ever felt like your workday is just a never-ending series of Zoom meetings? 😩 Well, Chris Savage found a solution at Wistia that he feels is changing the game.

Before we continue, it's worth noting that we are not receiving any form of payment from Ro.am for this high praise. If the founders are listening to this podcast or reading this newsletter, they'll be quite surprised. If they're not, perhaps someone should inform them?

🎯 Less Time in Meetings, More Time for Work 🎯

Ro.am is not just another video conferencing tool. It's a virtual office that encourages quick, informal chats instead of lengthy, scheduled meetings. The result? More connections, less time wasted, and a significant drop in meeting durations.

📊 Real Results: More Meetings, Less Time 📊

Sounds great, but does it work? Wistia's experiment with Ro.am saw meetings increase from 3,000 to 4,900 in a month. But here's the kicker: they spent 30% less time in meetings. The average meeting time dropped significantly, freeing up more time for actual work.

🏢 A Sense of Presence 🏢

One of the biggest challenges of remote work is the lack of presence. Ro.am tackles this by creating a virtual office where you can see where your colleagues are and what they're up to. It's like walking into a physical office, but without the commute. 🚗💨

📞 An Internal Phone Directory 📞

Ro.am is essentially an internal phone directory for your company. It's an audio-first platform that makes it easy to quickly grab people for a chat. No more scheduling meetings for a 5-minute conversation.

🚀 A Launchpad for New Features 🚀

Ro.am is more than just a communication tool. It's a platform that's ripe for adding new features like whiteboards and document sharing. It's a one-stop-shop for all your collaboration needs.

The bottom line? Ro.am is a game-changer for remote work. 🌍💼