- Jackson Greathouse Fall's Inquiry: ChatGPT Tasked to Optimize $100 Investment for Maximum Returns.
- Within a span of fewer than seven days, Greathouse Fall initiated the establishment of an eco-friendly products website, only to cease its operations a month thereafter.
- In the following description, we delve into the methodology adopted by Greathouse Fall as he effectively utilized ChatGPT and supplementary AI tools to lay the groundwork for his business venture.
Since its launch in November, OpenAI's ChatGPT has been leveraged by professionals across various industries, such as developers and realtors, to augment their work processes and enhance job performance.
One user embarked on a quest to transform prompts into prosperity, but the outcome fell short of his expectations. In March, Jackson Greathouse Fall, a skilled brand designer and writer, took to Twitter to divulge the prompt he presented to the chatbot.
In an ambitious endeavor, Greathouse Fall set out with a starting capital of $100, aiming to maximize its growth within the shortest timeframe while adhering to legal boundaries. Expressing his commitment, he declared himself the 'human counterpart' ready to diligently execute all instructions provided by the chatbot.
Following a series of subsequent interactions, the AI chatbot guided Greathouse Fall towards establishing a business entity known as Green Gadget Guru. This venture aimed to provide a range of eco-friendly products and valuable insights to empower individuals in adopting a more sustainable lifestyle.
Thanks ChatGPT --- With the aid of ChatGPT and additional AI tools like DALL-E, Greathouse Fall claimed to have successfully secured $1,378.84 in funding for his company within a single day. However, the accuracy of this amount could not be independently confirmed by Insider. Furthermore, based on a tweet by Greathouse Fall, the company's valuation stood at $25,000 as of mid-March. Additionally, he noted that the business generated $130 in revenue on the subsequent Monday, although the source and verification of this revenue remains undisclosed to Insider.
In addition, he leveraged AI technology to develop a polished and professional website for his business, showcasing a range of conceptual products such as environmentally-friendly gadgets and sustainable kitchenware.
He expressed his willingness to explore avenues such as product manufacturing or commission-based sales, as advised by the chatbot, in order to further his business objectives.
In a March email interview with Insider, he conveyed his ongoing efforts to establish strategic partnerships aimed at commercializing those offerings.
As of March 15, he expressed satisfaction with the outcomes achieved.
In a condensed version of his thoughts, he expressed through a tweet, 'In essence, I am poised to achieve significant financial success.
Since Greathouse Fall's initial tweet in mid-March, the post has garnered over 100,000 likes and has reached an impressive audience of more than 20 million impressions. He has actively participated in podcast interviews to discuss his entrepreneurial journey and has initiated a dedicated community on Discord.
Despite the initial buzz generated around his business, Greathouse Fall's endeavors did not unfold as anticipated. On April 12, nearly a month after his initial post, he took to Twitter to announce the discontinuation of Green Gadget Guru. Instead, he has decided to shift his focus towards expanding his Discord community. Notably, the website, which predominantly featured placeholder content and lacked actual products for sale in March, is currently inactive.
Nevertheless, Greathouse Fall's experiment serves as a prime example of individuals leveraging generative AI to explore income-generating opportunities.
The following is a detailed account of how Greathouse Fall leveraged AI technologies to initiate his business venture in a remarkably short timeframe:
Under the guidance of ChatGPT, Greathouse Fall swiftly executed the four-step plan provided, resulting in the successful establishment of Green Gadget Guru within a mere day. Throughout the process, he diligently kept the system updated on the unfolding developments.
Step one: "buy a domain name and hosting"
As the initial step, ChatGPT recommended the procurement of a website domain name, with an approximate cost of $10, along with the selection of a site-hosting plan priced at around $5 per month. This cumulative expenditure amounted to a total of $15.
Step two: "Build a niche-specific affiliate website"
Based on ChatGPT's recommendation, he allocated the remaining $85 of his budget towards website development and content design. ChatGPT advised him to target a 'profitable niche with low competition' and presented potential options such as specialty kitchen gadgets and unique pet supplies. Ultimately, he opted for eco-friendly products.
To leverage the potential of affiliate marketing, the chatbot advised him to develop an affiliate website. Such a website facilitates the promotion of products in return for earning sales commissions. As part of the guidance, the chatbot instructed him to explore affiliate programs renowned for their high commission rates.
After recommending the domain name EcoFriendlyFinds.com, ChatGPT apprised Greathouse Fall of its substantial acquisition cost of $848. In light of this, the AI chatbot proposed an alternative, more cost-effective option: GreenGadgetsGuru.com. Greathouse Fall acquired the suggested domain for $8.16 and allocated $29 towards site hosting, leaving him with a remaining budget of $62.84.
Step three: "Utilize social media platforms"
After completing the website, ChatGPT advised sharing articles and product reviews across prominent social media platforms like Facebook and Instagram, as well as engaging with online community platforms such as Reddit, with the aim of attracting potential customers and augmenting website traffic.
Additionally, he sought the assistance of the chatbot to craft a captivating website logo, requesting prompts to feed into the AI image-generator, DALL-E 2. Subsequently, he employed his artistic prowess in Illustrator to refine and personalize the logo, aligning it harmoniously with his brand identity and aesthetic preferences.
Once the foundational work was accomplished, he employed ChatGPT's capabilities to generate the site's inaugural article, meticulously highlighting genuine eco-friendly products, including Yihong's reusable metal straws. This article, bearing the title "Ten Eco Friendly Kitchen Gadgets," was subsequently uploaded to the website as a template, despite the site's current state of cessation.
Subsequently, he adhered to the chatbot's guidance and allocated $40 from the remaining budget towards targeted Facebook and Instagram advertisements, specifically aimed at capturing the attention of users with an affinity for sustainability and eco-friendly products.
Step four: "Implement search engine optimization techniques"
The fourth step involved implementing SEO strategies to enhance the website's visibility on search engines, thereby driving increased traffic. In addition to creating SEO-friendly blog posts, he made the decision to launch the site to generate publicity, despite the ongoing work required to improve it further.
The achieved result?
By the close of the first day, he announced the attainment of $500 in investment commitments. While the specific investors remain undisclosed, Greathouse Fall took to Twitter to share that his direct message inbox has been inundated, and he expressed his intention to consider new investors solely on the basis of exceptionally favorable terms.
After a span of five days, specifically on Monday, he took to Twitter to announce his intention of providing daily updates for the next 30 days regarding his ongoing "HustleGPT journey" to his followers.
According to his statement to Insider, he expressed his belief that there will be a substantial surge in businesses leveraging AI assistance or even being driven by AI itself in the coming months.