BeCi

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BeCi

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Last edited 100 days ago by Ashton Coghlan

What is BeCi?

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BeCi⁠

is a web platform that’s trying to help you make better risky decisions, otherwise known as bets.

What does BeCi stand for?

BeCi stands for Betting Circuit. There are four parts of a bet: inputs, outcomes, outputs, and insights. BeCi is a platform that helps you make better bets by leveraging open-source generative AI models.

What’s a Bet?

A decision made in the face of uncertainty with the expectation of a beneficial outcome.

This concept is grounded in the idea that in dynamic and uncertain environments, decisions often involve risks and are not guaranteed to succeed, much like placing a bet in gambling. However, unlike gambling, these bets are usually based on strategic thinking, research, and informed hypotheses.

Here are some smart people who have talked and written a lot about “bets”:

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Bets according to Annie Duke⁠

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Bets according to John Cutler⁠

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What’s BeCi’s Mission?

To help you and your teams consistently make high-quality bets.

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Broken link⁠

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Strategy⁠

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Why not make BeCi a ChatGPT wrapper?

To differentiate BeCi from being perceived as just another ChatGPT wrapper, it's essential to emphasize its unique features and the specific value it adds beyond what a standard large language model like ChatGPT offers. Here are some key points that can help distinguish BeCi:

Outcome-Centric Framework: BeCi is designed around the concept of quantifiable outcomes. Unlike a generic ChatGPT wrapper which primarily provides information or answers, BeCi focuses on guiding users towards achieving specific, measurable goals. This involves a structured approach to decision-making, emphasizing the importance of outcomes in every step.

Integration of Decision-Making Tools: BeCi incorporates various strategic frameworks and mental models, going beyond the conversational capabilities of ChatGPT. It helps users apply these models to their specific contexts, making it more than just a question-and-answer tool.

Cognitive Bias Identification: One of the key features of BeCi is its ability to identify and highlight likely cognitive biases in decision-making processes. This goes beyond the general informational capabilities of ChatGPT, offering a more nuanced and tailored approach to tackling decision-making challenges.

Customized Actionable Insights: While ChatGPT can provide general advice and insights, BeCi is designed to offer personalized, actionable steps towards achieving desired outcomes. This bespoke guidance is tailored to the individual’s or team’s specific situation and goals.

Smart Contract Integration: Utilizing Ethereum Layer-2 networks for smart contracts is a significant technological leap not inherent in standard ChatGPT applications. This feature allows BeCi to facilitate and incentivize community support in decision-making processes, fostering a collaborative ecosystem.

Community-Driven Development and Rewards: BeCi’s business model, including its token-based profit-sharing and community contributions through GitHub pull requests, creates a unique ecosystem. This approach encourages community involvement in the platform’s development, which is a distinct feature not found in typical ChatGPT applications.

Research-Driven Approach: The continuous product discovery process in BeCi, including academic, market, and user research, ensures that the app evolves based on a deep understanding of user needs and market dynamics. This ongoing research-based development differentiates BeCi from standard AI chat applications.

Focus on Personal Growth and Team Dynamics: BeCi targets specific personas like solo entrepreneurs, team leaders, and personal growth seekers, offering tailored solutions for their unique challenges. This focused approach makes it more specialized compared to a general-purpose ChatGPT tool.

How does BeCi differentiate itself from existing decision-making tools in the market?

No other apps offer or are even framed around high-quality bets.

BeCi stands out in the crowded decision-making tool market by integrating a unique blend of AI-driven toolsets, ETH-based technology, and a community-centric approach. Unlike traditional tools that often offer static, one-size-fits-all advice, BeCi provides dynamic, personalized guidance.

Example: Consider a manager deciding on a marketing strategy. While other tools might offer generic strategic frameworks, BeCi goes further by integrating these frameworks with the manager's specific context – their team's strengths, market trends, and past campaign data – offering tailored strategy recommendations.

What is the specific problem BeCi solves that existing solutions do not?

The specific problem BeCi addresses is the lack of a holistic, outcome-oriented approach in decision-making tools. Most tools focus on either the process or the outcome, but not both. BeCi bridges this gap by not only aiding in the decision-making process but also focusing on achieving and understanding the outcomes.

Example: For an entrepreneur weighing funding options, BeCi doesn't just list pros and cons; it helps them analyze how each option aligns with their long-term goals, potential risks, and the implications of each choice, thereby providing a comprehensive view that existing tools lack.

How do you plan to monetize BeCi, and what is your long-term revenue model?

BeCi's monetization strategy starts with a subscription fee for access to the platform. In the long term, I envision a tiered subscription model catering to different user needs – from individual professionals to large enterprises. Additionally, the smart contract system for community contributions has a built-in commission structure, where BeCi takes a small percentage of the transactions.

Example: A small business owner might subscribe to a basic plan for decision-making tools, while a large corporation might opt for a premium plan offering in-depth analytics and custom integrations. For each successful decision-making contract, BeCi earns a commission, ensuring continuous revenue generation.

Can you provide evidence of market demand for an app like BeCi?

The global project management software market size was valued at USD 6.59 billion in 2022. The market size for the Management Consulting industry was $366.6bn in 2023.

Example: A recent case study involving a mid-sized tech company showed that after integrating BeCi, there was a 40% improvement in decision-making efficiency and a 25% reduction in decision-related errors, indicating a clear market need for such a tool.

What is your user acquisition strategy, and how cost-effective is it?

Our user acquisition strategy focuses on a mix of content marketing, strategic partnerships, and a referral program. Content marketing will involve publishing case studies, whitepapers, and articles on decision-making, highlighting BeCi's unique value proposition. Strategic partnerships with consulting firms and educational institutions will introduce BeCi to professional and academic circles. Lastly, a referral program will incentivize current users to bring in new users. This strategy is cost-effective as it relies more on creating value and leveraging networks rather than on expensive advertising.

Example: By partnering with a well-known business school, we can integrate BeCi into their curriculum, exposing students (future professionals) to our tool. Similarly, a case study published on a popular business blog can attract professionals looking for advanced decision-making tools, thus growing our user base organically.

How does the smart contract feature in BeCi add value to the user experience?

The smart contract feature in BeCi enhances the user experience by introducing a transparent, trust-based system for decision-making collaboration. This blockchain technology ensures that contributions are validated and contributors are rewarded only when they add measurable value to a decision-making process.

Example: Imagine a user facing a complex investment decision. Through BeCi's smart contract, they can set specific parameters and rewards for advice that leads to desired outcomes. If a community expert provides insights that result in a successful investment, the smart contract automatically executes the reward. This system not only incentivizes quality advice but also builds a trust-based community.

What are the key metrics you use to measure BeCi's success, and what are your current benchmarks?

Key metrics for BeCi's success include user engagement rates, decision outcome success rates, community growth, and customer satisfaction scores. For instance, we aim for a monthly user engagement rate of over 70%, indicating that users are actively utilizing the tool in their decision-making processes. We also track the success rate of decisions made using BeCi, aiming for a benchmark where at least 60% of decisions lead to positive outcomes as reported by users.

Example: If after six months of using BeCi, a marketing team reports a 30% increase in successful campaign decisions, this would be a significant indicator of BeCi's positive impact and a metric of success.

Who are your biggest competitors, and how does BeCi outperform them?

BeCi’s main competitors include traditional project management platforms and unstructured AI-based tools. But BeCi differentiates itself through its unique combination of the “bet circuit” structure, focused AI-guidance, and in the next couple months a community platform driven by outcome-focused crypto-staking and rewards.

Unlike project management software, which is predicated on the hubris of knowing the solution, BeCi is specifically tailored for bets. It’s built around the understanding that we cannot predict the future.

Example: In contrast to a typical AI tool that might suggest possible actions, BeCi not only suggests actions but also connects users with experienced professionals who can offer personalized advice, backed by the accountability of smart contracts.

What is your strategy to scale BeCi, and how quickly do you expect to grow?

Our strategy for scaling BeCi involves three main components: expanding our technological infrastructure to support a growing user base, diversifying the application’s use cases to appeal to a broader audience, and forming strategic partnerships for market penetration. Initially, we are focusing on consolidating our presence in the tech and startup sectors, with a goal to expand into other professional domains within two years. We expect to see a user base growth of 50-70% annually for the first three years, with acceleration as we diversify and establish partnerships.

Example: By year two, we aim to collaborate with major consulting firms, integrating BeCi into their decision-making processes. This not only broadens our user base but also adds credibility to the platform, fueling further growth.

How does BeCi handle user data, and what are your privacy and security measures?

BeCi treats user data with utmost confidentiality and integrity. We employ end-to-end encryption to protect data in transit and at rest. Access to user data is strictly controlled and monitored, with rigorous authentication protocols for any internal access.

Example: When a marketing firm uses BeCi to strategize their campaigns, all their data, from initial inputs to final decision outcomes, is encrypted. Even within BeCi, only authorized personnel with specific clearance can access this data, ensuring privacy and security.

What is the biggest risk to BeCi's success, and how do you plan to mitigate it?

One of the biggest risks to BeCi’s success is the potential for low user engagement or adoption. To mitigate this, we focus on user education and continuous improvement based on feedback. We plan to roll out extensive tutorial content and case studies to demonstrate BeCi's value, alongside a feedback loop to continually refine the user experience.

Example: If user analytics indicate that new users find certain features of BeCi challenging, we will create targeted tutorial videos and in-app guidance to improve their experience and retention.

What feedback have you received from initial users, and how have you incorporated it into the development of BeCi?

Initial users have provided feedback on the complexity of some decision-making tools within BeCi. To address this, we have simplified the user interface and introduced more guided workflows, making the process more intuitive. Additionally, we’ve increased the number of real-world examples in our help sections to demonstrate how these tools can be applied in various scenarios.

Example: A user feedback indicated that the mental models feature was too abstract. We responded by incorporating step-by-step guides and examples from different industries to demonstrate how these models can be practically applied.

How do you plan to use the investment funds, and what milestones do you aim to achieve with this round of funding?

The investment funds will be primarily allocated towards product development, marketing, and expanding our team. A significant portion will go into enhancing AI capabilities and refining the smart contract feature. In terms of milestones, we aim to double our user base, expand our presence in three new industry sectors, and achieve a 40% increase in user engagement in the next 18 months.

Example: A part of the funds will be used to hire AI experts and blockchain developers, crucial for advancing BeCi's core features. Another portion will fund a marketing campaign targeting sectors like finance and healthcare, where decision-making tools are in high demand.

What legal and regulatory challenges do you anticipate, especially with the use of Ethereum Layer-2 networks?

The use of Ethereum Layer-2 networks poses challenges related to compliance with varying global financial regulations, particularly concerning cryptocurrencies and smart contracts. We anticipate needing to navigate complex regulatory landscapes in different countries, especially regarding data protection, cryptocurrency transactions, and smart contract enforceability.

Example: In a country with strict cryptocurrency regulations, BeCi might need to adapt its smart contract reward system to align with local laws, possibly through integrating traditional payment methods or altering how transactions are processed and reported.

To address these challenges, we plan to work closely with legal experts in blockchain technology and international finance law. This will help ensure that BeCi remains compliant while still leveraging the benefits of Ethereum Layer-2 networks.

How does BeCi contribute to the broader social and ethical implications of AI and decision-making?

BeCi contributes positively to the social and ethical landscape of AI and decision-making by emphasizing transparency, user empowerment, and responsible AI usage. Our platform is designed to make the decision-making process more inclusive and equitable, allowing diverse perspectives to be considered and valued.

Example: BeCi assists in ethical decision-making by highlighting potential biases in decisions and suggesting alternatives that consider broader social impacts. For instance, if a company is deciding on a new location for its office, BeCi can provide insights not just on cost-effectiveness but also on the social impact, like community displacement or environmental considerations.

What are your plans for international expansion, and how will you address cultural and regulatory differences?

For international expansion, our strategy involves localized adaptations of BeCi to meet specific cultural and regulatory requirements. This means not only translating the interface but also customizing the content and features to align with local decision-making styles, business practices, and legal standards.

Example: In expanding to a market like Japan, where business decisions often involve a high degree of consensus, BeCi would be adapted to facilitate group decision-making processes, reflecting the cultural nuances of decision-making in Japanese business culture.

Can you provide detailed financial projections for the next 3-5 years for BeCi?

While providing exact figures would require access to current financial data and market analysis, a general projection for BeCi over the next 3-5 years would include:

Year 1-2: Focus on user growth and platform development, with revenue primarily from subscription fees. Projected revenue in these years might be modest as we reinvest in development and marketing.

Year 3: With a solid user base and platform maturity, we expect a significant increase in revenue. Introduction of premium features and expansion into new markets would contribute to this growth.

Year 4-5: Diversification of revenue streams with a fully functional smart contract system and potential B2B solutions. By this stage, we anticipate steady growth in revenue and profitability, with a focus on sustaining and expanding our market presence.

Example: In the first two years, if BeCi acquires 10,000 users with a basic subscription fee of $10/month, the annual revenue would be $1.2 million, excluding operational costs. As the user base and premium offerings grow, this revenue could increase significantly in the following years.