Build ChatGPT Plugins Now
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Sam discusses the opportunity in building ChatGPT plugins during the early stages of OpenAI's plugin store launch, similar to early opportunities in previous platform launches like the iPhone App Store or Chrome Extensions.
Key Points:
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Timing Opportunity:
- OpenAI just launched their plugin store (January 2024)
- Platform hasn't determined revenue sharing terms yet
- Early stage similar to iPhone App Store or Chrome Store launches
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Example Success Case:
- Company called Consensus built a scientific research plugin
- Became the #1 most used GPT plugin
- 2x the usage of the next biggest GPT (Canva)
- Started as research tool before AI/GPT integration
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Market Potential:
- Expected to be larger than Chrome Extensions market
- Smaller than iPhone App Store market
- OpenAI covering compute costs initially
- Platform still figuring out payment terms and structure
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Strategic Approach:
- Build specialized vertical solutions
- Focus on specific use cases or industries
- Take advantage of early mover opportunity
- Leverage OpenAI's existing user base and distribution
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Historical Parallels:
- Similar to early Facebook platform (Zynga games)
- Chrome Store successes (Honey, Grammarly)
- Companies that capitalized on new platform launches often had significant exits
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.