🏎️ Xiaomi EV beats Tesla, 🤖 Get Free ChatGPT, & ⚡ How to Productify your Life

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1. ChatGPT will now be free for all - with some caveats!

OpenAI has launched a version of ChatGPT accessible without an account, rolling out globally. While offering a similar model as for registered users, the unregistered version limits features like saving or sharing chats and custom instructions. Users can opt out of their data being used for training. The version enforces stricter content policies - although specifics are vague.
CLICK FOR MORE: Techcrunch (5 min)

2. In response to backlash, TikTok launches a new STEM-focused feed to inspire young audiences towards learning

In response to widespread criticism over its influence on the youth, TikTok has introduced a new STEM-focused feed in the UK and Ireland to inspire young audiences towards science, technology, engineering, and mathematics. This will be done through expert-driven videos, emphasizing fun and accessible learning. The feed will be available alongside the "For You" page.
CLICK FOR MORE: Irish News (3 min)

3. Xiaomi (the smartphone maker) released its first Electric Vehicle…and it sold out within 24 hours!

Xiaomi's debut into the Chinese automotive market with the SU7 electric sedan saw an overwhelming response, with nearly 90,000 preorders on the first day. The SU7 outpaces the Tesla Model 3 in size, price, and driving range. The car boasts in-house electric motors, high-voltage batteries for up to 515 miles of range, and advanced interior tech. This marks Xiaomi's successful entry into the competitive EV market. Exciting pictures and details below!
CLICK FOR MORE: InsideEVs (3 min)

4. Police increasingly relying on controversial data surveillance (“reverse” searches) which impacts innocent people

Reverse search warrants require tech companies to provide data on all users within specific criteria, such as location or search history, during a certain period. This approach often includes data on innocent people not directly related to an investigation. It's a tactic that raises significant privacy and legal concerns about the implications of such broad data requests on individual rights and freedoms.
CLICK FOR MORE: GVS (3 min)

<And More>
5. Want to make $50k monthly? Check out this crazy YouTube video 

6. INCREDIBLE! AI companies running out of training data, after burning through the whole internet.
CLICK FOR MORE: Futurism (2 min)

7. OpenAI revokes Sam Altman’s ownership and control over the OpenAI Startup Fund
CLICK FOR MORE: Axios (2 min)

8. Google to destroy browsing data of millions using "Incognito” mode
CLICK FOR MORE: Verge (3 min)

9. Amazon gives up on no-checkout shopping in its Amazon Fresh stores
CLICK FOR MORE: Verge (3 min)

Power Law
The power law is a mathematical concept often observed in natural and social phenomena, where a small number of occurrences have a disproportionately large impact. In the tech industry, it's frequently cited in contexts like venture capital, where a few investments yield the majority of returns, or in product popularity, where a handful of products dominate the market.

“In our investment portfolio, a small number of our startups have driven the vast majority of our returns. This pattern reinforces our strategy to diversify, knowing that while many investments might fail, a few exceptional ones can significantly outweigh the rest and yield a good return for the whole portfolio.”

TAM, SAM & SOM
TAM (Total Addressable Market), SAM (Serviceable Available Market), and SOM (Serviceable Obtainable Market) are metrics used to estimate market size and focus efforts for a product or service. TAM is the total market demand, SAM is the segment of TAM targeted by your products/services within geographical reach, and SOM is the portion of SAM you can realistically capture.

“Our startup's product has a TAM of $5 billion, but our SAM, considering our current capabilities and geographical reach, is about $500 million. With our go-to-market strategy, we're aiming for a SOM of $50 million in the first year"

How To “Productify” your Life for Success

Incorporating product management principles into your personal and professional development can help solidify your purpose, effectiveness, and overall success.

🎯 1. Identify Your ‘Product Vision’

Your “product vision” (or “life vision”) encapsulates your overarching goal or aspiration. It’s a concise statement that outlines what you aim to achieve and why it’s important, serving as your north star.

• Reflect on your long-term goals and values

• Write down a vision statement that reflects your core values and desired end state

• Plan your actions and decisions based on this vision

[Mind the Product offers strategies for crafting a compelling product vision that can inspire and guide teams]

📏 2. Measure What Matters

Utilizing Key Performance Indicators (KPIs) enables you to track your progression towards your vision, ensuring that you’re on the right path and making the necessary adjustments to stay aligned with your goals

• Define specific, measurable objectives that signal progress towards your vision

• Regularly review and analyze these metrics to understand your trajectory and refine your strategies accordingly

[Delve into John Doerr’s principles for setting effective goals and measuring success in What Matters]

🔄 3. Use Feedback Loops

Continuous feedback from a diverse set of sources is crucial for personal and professional growth.

• Establish formal and informal channels for soliciting feedback from peers, mentors, and supervisors

• Approach feedback with a growth mindset, viewing it as an opportunity to learn and adapt rather than a critique of your capabilities

[The Harvard Business Review goes deeper into this, and also highlights the pitfalls of feedback in personal development and organizational growth]

🛠️ 4. Develop a ‘Minimum Viable Product’ (MVP)

An MVP approach in personal development involves starting with a simplified version of a new idea or skill, allowing for testing and refinement based on real-world feedback and experiences.

• Identify small, achievable projects that resonate with your broader goals but require minimal initial investment

• Use these projects as a testing ground for new skills or concepts, applying learnings to adjust and refine your approach for larger endeavors

The 4 tactics above can not only help enhance personal fulfillment and professional success but also cultivate a mindset that is adaptable and continuously evolving.

Manu