Uzo Ometu

INTERVIEWS OF 2024 SXSW PITCH WINNERS: Dhavel Patel of Lotus Every March in Austin, 50 of the world's most impactful startups showcase their talents at SXSW Pitch. Today we begin a series of short interviews with some of the category winners from the 2024 event. Founder and CEO Dhaval Patel has been growing Lotus for three years. At this year's SXSW Pitch, his San Jose based startup emerged as the winner of the "Smart Cities, Transportation & Sustainability" category. Patel's short answers to our questions are below. SXSW: What is Lotus?  Patel: A wearable ring that controls objects at home by pointing. See https://www.getlotus.com/ SXSW: What community does Lotus serve? Patel: Folks with limited mobility -- older adults, veteran soldiers, people with disabilities.  SXSW: Who is your all-time favorite entrepreneur? Patel: Warren Buffett. SXSW: Best startup-related advice you have received? Patel: Don't start building first, find the need first. SXSW: Current entrepreneurial trend that excites you the most? Patel: Desire for tech that is intuitive and simple. SXSW: Fail fast or perseverance? Patel: Persevere in failing fast repeatedly. SXSW: Favorite VC? Patel: Andreessen Horowitz. SXSW: Favorite gadget or device? Patel: Apple AirPods. SXSW: Government can best support startups by Patel: Moving faster. SXSW: Most over-hyped technology at present? Patel: AI. SXSW: Most under-hyped technology at present? Patel: Consumer hardware. SXSW: What did you enjoy most about your experience at SXSW? Patel: The people -- each person wanting to make the world a better place. SXSW: What is your best trait as an entrepreneur? Patel: Simplifying complex problems. SXSW: What is your best advice for other startups? Patel: Focus (say "no" to more). Learn more about Dhaval Patel of Lotus plus other 2024 SXSW Pitch winners by listening to the audio of their session at this year's event. See https://lnkd.in/gHtwQB8n Applications for SXSW Pitch 2025 will open in late summer. See https://lnkd.in/gE2hcVPK #sxsw, #sxsw2024, #startups, #founders, Chris Valentine, Dhaval Patel, SXSW, #venturecapital, #entrepreneur, #entrepreneurs, #startup, #founderstories, #sxswpitch, Lotus (Techstars'23), #techstars, #Austin, #ATX, #creativity, #innovation, #hardware, #consumerhardware, #pitch, #accessibility,

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Dude Perfect raised $100M for global biz expansion. The deal is getting lots of buzz, but our team’s math signals challenges ahead. Let’s break it down… DEAL DETAILS • $100 - 300M growth capital investment • Led by Highmount Capital • Unclear if 100% invested upfront OR draw down of commitment over time • No previous capital raised USE OF FUNDS • Hire mgmt team to expand biz • More live experiences incl int’l tour, consumer products • Grow content formats, frequency, channels, global localization e.g. animation, TV, movies, streaming • Extend brand beyond 5 founders by building talent network • New HQ in Frisco, TX as prod facility and “family-friendly entertainment destination”: – Retail store, podcasts / gaming / fan UGC spaces, trick shot tower, DP museum, mini golf, restaurants – Original plans for 3-story, 30 acre facility est to cost $100M+, 2 yrs to build COMPANY OVERVIEW: Dude Perfect • Digital-native comedy and sports media brand • Faith-based mission: “We’re about giving back, spreading joy and glorifying Jesus Christ”  • Other YouTube franchises: “Stereotypes,” “Overtime”, “Bucket List”  • Media brand also incl books, mobile games, board games and toys, and merch / retail / food and beverage partnerships • 25 current team members PERFORMANCE HIGHLIGHTS • 60M YouTube Followers, 17B views • Est 2024 revenue: $50M per DP • Est 2023 and 2022 revenue: $25M and $20M per WSJ  • Consumer product partnerships incl Nerf toy line, Columbia Sportswear • Partnered with A Parent Media co to launch a streaming service • ESPN “30 for 30” doc premiering at Dallas Int’l film festival • TV series on CMT in 2016, later aired on Nickelodeon • Alternate broadcasts for Amazon’s Thursday Night Football • 4 live nationwide tours as of 2023 ORIGIN STORY • Founded 2009 by 5 friends at Texas A&M • Cofounders = twins Coby Cotton and Cory Cotton, Tyler Toney, Cody Jones, Garrett Hilbert • Started as YT channel featuring trick shot videos INVESTOR OVERVIEW: Highmount Capital • Growth stage and middle mkt PE fund for tech, media, healthcare • Founded in 2023 by jason illian and David Hawkins • 4 team members on website + advisor • 3 team members have faith-based ties per bios • No other investments listed on website other than DP My takeaway... I really like and support the trend of increased investment into YouTubers and digital-native media brands. But as I wrote about in my 2024 State of Creator x Media capital markets reports (will link them below), investment must match market and opportunity size. To ensure good ROI, and to set good precedent for future investment into our space. The DP bet is exciting, but could be overly optimistic based on our prelim math. My colleague Michael Booth's post breaks the math down (link below). More analysis to come in my Friday newsletter. —- I’m the founder of RockWater Industries. We do m&a and strategy advisory for media, agencies, and creator economy. My dm’s are open. #media #agency #creatoreconomy

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Keep an eye on Rembrand, a digital platform using AI to add virtual product placement into videos. They just raised $23 million from savvy investors like Tom Chavez and others. The concept is relatively simple and has been around for a while, but the company is definitely getting some traction. Rembrand began with YouTube and expanded to LinkedIn, TikTok and Instagram. They’ve also worked with about 20 brands including those under PepsiCo, L'Oréal, and Amazon. The company is led by CEO Omar Tawakol, who has great startup experience. He sold data management platform BlueKai to Oracle in 2014 and voice collaboration platform Voicea to Cisco in 2019. It’s another intriguing use of AI and video, and it gives advertisers another weapon in their arsenal as they monetize content. What other uses of AI advertising have you seen that impresses you?

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I’ve found myself having a lot of conversations about AI with media companies and creators for the past several weeks. From publishers considering licensing to LLMs to content creators thinking about how different tools might enhance workflows or creative output, my overwhelming sense is that we’ve reached a moment of mass confusion in media. For media companies (from individuals to conglomerates), there is a cascade of questions. Will the output of a model one day destroy my business? Should I wait for a legal or regulatory response? Should I be dealing with these companies? And even if I wanted to, has the ship sailed and it’s now too late? I’ve been surprised by the consistency of questions across companies with different businesses, and in different verticals and sectors. The answer that comes up most is we just don’t know. And as a savvy media exec said recently to me, we need to have a good umbrella instead of just shouting at the rain. Across all this uncertainty, one thing remains clear: as AI becomes more a part of our lives, audiences, readers, and fans are going to be increasingly seeking craft, meaning, and connection. These are things that LLMs can’t quite replicate and as a mass of AI generated content floods the zone of our distribution networks, how will we find these vital and necessary values from the scarcity of authentic stories, information, and entertainment that we turn to? Well, we just don’t know. But, we do know that GenAI platforms need to understand the concerns and realities of creative work and the anxieties very much at play. At the same time, media companies and creators need to find the opportunities to use these tools to deepen their connections and refine their craft. Both are challenges, but there is opportunity if we look for the the creative tools that will enhance and enrich but not replace the people best equipped to be crafting the next generation of creative, meaningful work.

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Back in 1997, The New York Times highlighted a “Roundtable in Multimedia” attended by senior media executives. They lamented that apart from a few exceptions like pornography websites and Amazon, no one had cracked the code for a viable 'interactive' media business model. Fast forward to 2024, and Fable has launched Showrunner, a revolutionary platform known as the “Netflix of AI" , which allows users to create their own TV shows with just a few prompts. 📺✨ The way we create and consume content has evolved dramatically. But what does "interactive media" really mean today? We break it down, exploring how it intersects with massive shifts in technology, culture, and new media. And how with a growing "Swipe before Type" generation, there is now an ingrained expectation of interactivity in all digital experiences. We dive into the future of interactive media and gaming and see where we're headed next! Link in comments. #InteractiveMedia #Gaming #AI #TechRevolution #ContentCreation #NewMedia

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PSA for all songwriters & managers: There’s $175 million in unclaimed streaming mechanical royalties sitting with The MLC because they don’t know who to pay. If you're not registered, you’re missing out. The Mechanical Licensing Collective (MLC) was created by the US government to ensure songwriters get paid for streaming royalties. But after 3 years, 10% of royalties are still unmatched, sitting in a black box. If they aren’t claimed, they’ll get redistributed by market share—not to the rightful songwriters. Don’t let that happen. Register your songs and claim what’s yours: themlc.com

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Mastodon CEO Criticizes Meta's Moderation Changes, Cautions Threads Users on Cross-Posting Eugen Rochko, the CEO of Mastodon, has raised concerns about Meta’s recent decision to shift its moderation approach. Meta announced that it would replace fact-checking across its platforms with a crowdsourced Community Notes system, similar to what’s used on X (formerly Twitter). Rochko described this change as “deeply troubling” and warned that it could have serious implications, particularly for marginalized communities. He also addressed how this impacts users who cross-post from Threads—a Meta platform—onto Mastodon using the fediverse-sharing feature. Rochko made it clear that Mastodon will enforce its existing policies, including taking action against hate speech and other violations, even for content originating from Threads. The fediverse-sharing feature, introduced by Meta last year, allows Threads users to share posts directly on Mastodon, expanding their audience. While Rochko initially saw this as a step forward for decentralized social media, not everyone in the Mastodon community feels the same. Some smaller Mastodon servers have blocked Threads entirely, citing concerns over moderation and privacy. Similarly, Meta has blocked certain Mastodon servers for similar reasons. This latest moderation shift from Meta has created uncertainty about how large Mastodon instances, are like Mastodon. social, will handle Threads accounts moving forward. Rochko assured Mastodon users that the platform is prepared to address any challenges that arise. For those uncomfortable with Meta’s new direction, Rochko suggested moving to Mastodon as an alternative. However, he acknowledged that transitioning from Threads to Mastodon isn’t as straightforward as moving between Mastodon servers, due to Threads’ current limitations in fully integrating with the fediverse. By reinforcing its commitment to protecting its community, Mastodon aims to maintain a space that prioritizes thoughtful moderation and user trust. https://lnkd.in/dG6hDTT8? Platform: TechCrunch Author: Sarah Perez #mastodon #meta #metasocial #moderation #threads #socialmedia #socialmediaplatforms #bigtech #technews #socialmedianews #technology #crossposting

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🚀 New Episode Alert! I'm excited to share the latest episode of Startup Mindsets featuring Mike Liu from FreeFuse Inc. and Alex Londo of Klarissa.AI In this conversation, Mike breaks down how FreeFuse is transforming customer engagement and training with interactive media, bringing a whole new level of personalization and impact to digital experiences. 🌐 Imagine being able to create paths and journeys within a single video—content that feels like it was made just for you! But it doesn’t stop there. FreeFuse is also diving into automation with custom GPTs, helping teams streamline workflows and connect more effectively with their audiences. 📈 Alex also goes into how Klarissa's product helps frachisees have AI-Powered Answers for Customers and Employees. Check out the episode for insights into how interactive media can unlock new possibilities for businesses of any size. It’s a must-listen for founders, marketers, and anyone passionate about rethinking customer engagement! 🎧 Listen to the episode here on Spotify: https://lnkd.in/g7B9mZgh 📖 Join the exclusive: FreeFuse x Startup Mindsets Community: https://lnkd.in/g2JbYbxb Learn more about Freefuse: https://lnkd.in/grAs-yna #StartupMindsets #FreeFuse #InteractiveMedia #CustomerJourney #Automation #Podcast

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"You're an oversharer, I can tell... you overshare because you want to explain and be helpful. Try not to do that, they don't necessarily like that." That was after 45 minutes of conversation with a VC I've been following for a half decade and finally warmed up to the idea of reaching out. Fair. In equal fairness, I was looking for advice, so felt like I needed to provide as much context as I could to get the most useful advice from them. I've been reflecting on that sentiment (along with other conversations I've had these past few weeks) for a while, and I've got three reflections that have crystallized during my ruminations: =========== 1. Oversharing--and being burned/humiliated by it--is a big reason why I cut back on my social media posting years ago. I still think we haven't figured out how to make social media technology that beneficially enhances our social capacity and satisfies our social needs. I could (and likely will) say more on this, after some deeper research. For now, I'm sticking with just trying to post in LinkedIn with stories that I think are helpful for others in my professional network and in other networks at large, with the hope and goal that it will reciprocate back to me in some way, shape, or form. Likely, I'll occasionally overshare 😅 =========== 2. Signal to noise ratio. What the VC was saying, without saying it directly, was that I was flooding them with noise and asking them to find the signal from it. A better approach likely would have been to provide a bit of signal, and let them do their thing that they seem to be very good at- pattern matching and curious question asking to arrive at the recommendations. I'll be trying to carry this advice with me in all sorts of contexts... mentor/coaching sessions, therapy, conversations with friends, sales and partnership conversations. Basically, I should pause the flood and let them breathe, and guide/ask. Will report back with findings 😂 =========== 3. Building relationships takes time. Part of my tendency to overshare is a bit of my natural inclination to just be vulnerable so that others feel like they can be vulnerable with me in return. I'm not here to say showing vulnerability is bad. But I think I can get carried away with it with the goal of trying to form a deeper relationship in a 30 minute (ish) window. Bad move. Alright, this was mostly a share for my own reflection and to come back to later. Anyone else an oversharer? What insights have you had, being so inflicted?

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Discovery is the worst thing that could have happened to Warner Brothers. Discovery went massively into debt to merge Warner Brothers away from AT&T. WBD's merger debt was $46 billion. They cut that down by about $15 Billion by sacrificing things across the Warner Brothers, WB Pictures, HBO, and Warner Animation slates. They didn't seem to cut much from Discovery. Now WB is mulling the sale of all or part of WBIE (aka WB Games). This is damn sad. I used to use WB as the example of the one Hollywood studio that got game dev and publishing consistently right. Back in the day, WB bought IP, assets, and studios from Midway including Surreal, Snowblind, Monolith, and NetherRealm along with venerable Midway & Atari IP & franchises. Key IP included Mortal Kombat, Rampage, Spy Hunter, NBA Jam, Cruis'n, NFL Blitz, Defender, Joust, Robotron: 2084, Gauntlet and the Rush series. WB grew smartly with internal development and publishing. WB published a range of titles across genres, sizes, and monetization for PC, Console, Handheld, and Mobile. WB was consistent. Now WBIE/ WB Games appears to just be an asset for WBD to unload to reduce debt. And this could be in whole or in part. Sigh. What a waste. ----- GameDeveloper: "Report: WB Discovery looking to sell off games, other divisions to prevent total breakup. Game franchises like DC and Mortal Kombat may once again be up for sale as Warner Bros. Discovery tries to make some money." (Justin Carter) (Aug 6, 2024) Warner Bros. Discovery's dire financial straits may lead to it selling off various "smaller assets" as a means to avoid a complete "nuclear option" corporate breakup. Financial Times, senior management like CEO David Zaslav are considering selling off its video game division. That side of the business includes original franchises WBD acquired (Mortal Kombat) and long-running transmedia brands (DC, Harry Potter). Since merging with Discovery in 2022, WBD has repeatedly affirmed its desire to stick around in video games, particularly live-service. It saw a big success in 2023 with Hogwarts Legacy, followed by the modest MultiVersus and disappointing Suicide Squad in 2024. According to the outlet, selling its games may be the one sale WBD could make without triggering complications, both legally and content-wise. The company recently lost out on media rights for NBA games and is re-rebranding its Max originals back to HBO. Notably, this is the second time this decade that WB Games has been up for potential sale. Back in 2020, when Warner Bros. was still owned by AT&T, parties like Microsoft and Take-Two were interested in buying the interactive division. At the time, a potential deal would've been valued for as much as $4 billion. If WB Games were to be sold off now, it's unclear for how much, given the performance of its aforementioned 2023 and 2024 games, along with Monolith's incoming Wonder Woman title." GameDeveloper: https://lnkd.in/gXuYt6Cq #gameindustry #wbd #wbie #wbgames #warnerbros

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We at Parrot Analytics are so fortunate to have Brandon Katz working with us who, in his year-plus at the company, has penned the critically important Parrot Perspective newsletter, a monthly report that digs up an enormous amount of data to try and parse an issue affecting the entire media ecosystem. That's included the secret behind binge vs weekly strategies, how to find the next global hit by looking at local content trends in international markets, the impact of key AVODs like Tubi, and analysis of M&A activity that matters at the consumer behavior level. We've decided to try and elevate Brandon's incredible work by tying it to our D360 Lite product -- a data platform with access to much of Parrot Analytics' data sets, ranging from TV and Film Demand, to Talent Demand and our Supply dashboard. This month, Brandon looked at Netflix's film strategy — what's working, what's not, and what should Netflix do next. Our goal with Parrot Perspective is to try and find solutions to the problems we face, not just point them out again and again. Here's one quick data point that illustrates some of the many details you get in Parrot Perspective: "Netflix sits last among the major SVOD services in hit rate, which measures sentiment for films, with 64% of titles falling into the “Average” category, according to Parrot data. This leads to a number of forgettable films that don’t generate much viewership or demand, as evidenced by Netflix’s own Engagement Report. (The top 1,000 TV/Movie titles out of 18,000, or roughly 5%, accounted for nearly 60% of all viewing in the six month period). This can also lead to the company’s popular films quickly falling out of relevancy in the greater pop culture conversation. Netflix ranked last behind Universal Pictures, Sony Pictures Entertainment, 20th Century Studios, Paramount Pictures, Warner Bros. Entertainment and The Walt Disney Company in terms of the percentage of films that maintained significant public interest for more than five months, per The Wall Street Journal. As of Q1 2024, Netflix original movies accounted for 25% of the platform’s total movie catalog in the US market, a significant increase from the 20% it saw in Q3 2022. Despite this, just one Netflix original movie ranked among the 50 most in-demand films worldwide from January 1, 2020-April 3, 2024." Read all of Brandon's great insights — and gain access to a limited form of Parrot's data — at the link below. https://lnkd.in/grGFKhW5

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Not exactly bullish on crypto but Stripe's latest acquisition has me humming this tune... Lyrics (ironically, it has a great Bridge (IYKYK)): (Verse 1) Sippin' sweet tea, browsin' on my phone Saw a headline, made me spit and moan Stripe done spent a billion, more'n a king's ransom On a crypto firm, ain't that somethin'? (Chorus) Bridge, oh Bridge, whatcha got that's worth that price? More'n a fancy car, more'n a house of ice Stripe done gone and bet the farm, on digital gold Hope it don't turn out to be a story told (Verse 2) Stablecoins they call 'em, steady as a rock But this ol' gal, she's seen that kinda talk Remember dot coms, tulips in the spring? Sometimes these bubbles, they don't mean a thing (Chorus) Bridge, oh Bridge, whatcha got that's worth that price? More'n a fancy car, more'n a house of ice Stripe done gone and bet the farm, on digital gold Hope it don't turn out to be a story told (Bridge) Now I ain't no expert, in finance and such But a billion dollars, honey, that's a whole lotta clutch Maybe they know somethin', we simple folk don't see Or maybe they just gamblers, wild and free (Chorus) Bridge, oh Bridge, whatcha got that's worth that price? More'n a fancy car, more'n a house of ice Stripe done gone and bet the farm, on digital gold Hope it don't turn out to be a story told (Outro) Yeah, hope it don't turn out to be a story told 'Bout the time Stripe gambled, and lost all their gold On a crypto dream, that faded in the mist Leavin' 'em with nothin', but a billion dollar kiss. Listen: https://lnkd.in/dKm-rh3p Story: https://lnkd.in/dqx5xbwv

The e-learning market is set to hit nearly $1 trillion in revenue by 2030, but current tools for multi-language video content are fragmented, complex, and expensive. Enter Braiv, the startup founded by Ben Radcliffe and James Xabregas that's transforming how educators and businesses scale their video content and break down language barriers. 🌍 With growing global demand for more inclusive and effective learning tools, Braiv's AI-powered platform simplifies the complex process of translating, dubbing, and captioning videos. Find out how Braiv is tackling one of the biggest pain points in online learning and content creation in Startup Daily👇 https://lnkd.in/gYz7xUfA Learn more about the Antler residency and founder journey by joining one of our upcoming AMA sessions: https://lnkd.in/gASG3uQW

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Facebook Marketplace (and Groups) got an unusual amount of airtime during Meta's Q2 2024 earnings call. What it means: Meta is trying to change the narrative that young people aren’t using Facebook. ✨ In May, #Meta announced that 40 million 18-to-29-year-olds in the US and Canada use Facebook daily. Why it matters: It’s true that young people are on Facebook more than many people think, but they use it for a specific purpose, such as buying secondhand goods on Marketplace, rather than scrolling the feed. ✨ 51.9% of US 18- to 24-year-olds will use Facebook at least once per month, per EMARKETER estimates, but they will only spend an average of 11 minutes on the app per day. ✨ 75% of US 15-to-26-year-old #Facebook shoppers had made a purchase on Facebook Marketplace in the previous 12 months, as have 81.3% of 27-to-42-year-old shoppers. Yes, but: Marketplace is an undermonetized area of Facebook. Meta's challenge will be directing those shoppers to other areas of the app, mainly the Feed. ✨ The main feed will account for 82.2% of Facebook’s worldwide ad revenues in 2024, per EMARKETER. More in today's Marketing & Advertising Briefing. Will post the link in comments when it's live.

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