Monica Landers, founder and CEO of StoryFit, discussed how StoryFit uses AI to help storytellers uncover white spaces for creative development and gain deeper understanding of story elements.
Excerpts from the interview
| On ChatGPT and AI | |
| Monica Landers | We are working with the large language models that are also allowing ChatGPT to be so impressive, and ChatGPT has really changed the conversations that I’m having. The difference of when we first launch, the biggest push back that we got all the time. Sometimes it was the first hurdle to get over if I even tried to talk about this, people would say, that’s not possible, and the number of times that I didn’t get to that next stage of conversation because people just didn’t believe it was possible. And what’s interesting is now that ChatGPT has come out, I really don’t hear that anymore. There’s not the oh, it’s not possible. There’s at least an assumption that okay if ChatGPT can use large language models to make this possible, then you know this generative text, then of course we can use this for a discriminative and understanding analytical [purpose]. It’s interesting just to notice the change in the conversations. Thanks to ChatGPT. In just even in taking the script and automated way and measuring elements that we can measure, and one of the earliest things we had to do is first measure hundreds of thousands of elements, and then figure out which of these measurements matter because some things are just present in all scripts, good and bad. So being able to automatically ingest, automatically measure, and then, with this kind of data, build specific models that can predict audience reactions, are they going to like it or not? It’s not just a thumbs up, thumbs down, but very specifically of reactions to individual character traits of each character. How do they relate, how the changes in the evolution of the story is measured? So that’s our application. And to do that, it’s hundreds and hundreds of proprietary models that we’ve built specifically on scripts. And that’s really what makes our analysis different. [….] And we really are focused on the story telling aspects. |
| On Secrets of Raising Capital | |
| Monica Landers | Pitching to a lot of investors and asking a lot of questions and talking to a lot of people. My only success story is just through sheer tenacity and diligence and getting the story out there. Yeah and I’ve raised money for this company several times and each time it’s still hard. It’s hard because of the process, and I think I feel really grateful, though, that the process results have resulted every time in in good investors. I’ve got a good board, so I like the people that StoryFit is surrounded by. I can’t think of anything that you can’t find by searching on the Internet. It’s like organize your story, keep it clean, show your data. Make sure you have the right metrics for the investor that you’re talking to and that’s something you can learn early on. I think I wasted a lot of time the very first time I raise money in talking to investors and trying to pitch when I could have spent a couple of minutes at the beginning, and said hey, you what’s your check size? What are the metrics that you’re looking for? That could save us all the energyWhat would you want to see? I think we’re a year or 2 from that. So I got smarter about that as time went on. But yeah, I sure don’t have any secrets. |
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