E24: Why Acquisitions Fail, How to Write a Great Memo, and The Fate of ChatGPT Wrappers

On this week's episode of The Riff, Erik and Byrne discuss the acquisition landscape, how to write great business memos, and why it's hard to monetize a successful ChatGPT wrapper. Get Harmonic: Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo.

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

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SPONSOR: Harmonic Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source deals. Harmonic is the most complete startup database, finding new companies as soon as they incorporate and tracking them through IPO. Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo.

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RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries.

Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333

Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836

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Timestamps:

(00:00) Intro

(00:20) Negative reputation of acquisitive companies

(11:50) Sponsors: Harmonic | Turpentine

(13:39) Importance of research and its competitive edge

(21:37) Exploring the dynamics of unions and corporate strategies

(26:11) How to write a great memo

(32:49) Challenge of monetizing AI services

(37:49) AI's impact on education and standardized testing