In Case You Missed It: August 2023 Recap

Every Business Should Become A Data Business, Stop Building Infrastructure Startups, How To Create A Data Flywheel

This is the Three Data Point Thursday making your business smarter with data & AI.

This special in-between issue serves as a recap of the last editions and more of my writing. It features a few quotes from each piece so you can get a feel for them and quickly jump around the Three Data Point Thursday universe.

Enjoy!

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Why Every Business Should Become A Data Business

You need to become a data business because someone inside your industry will take that same step. Someone will create an ever-increasing flywheel of:

Making their product better by infusing it with data & crunching data better

Selling it to consumers, and thus gaining the ability to collect more data & crunch more data

Turn this circle round and round again, increasing the value to consumers, and thus adoption, and thus their market share on every turn

Until the segment displays a monopolistic structure. (without you…)

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Why you should stop building infrastructure products

TL;DR: If you found a data startup, prefer end-to-end products over infrastructure. Otherwise, you will be limited in your growth by external factors out of your control.

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How to create a data flywheel for your business

Data flywheels are at the core of Amazon, Netflix, Spotify, and most successful hot shot companies you know. Learn how to build your own and avoid the five most common mistakes.