🤖 AI Startups! (Issue 032)

Read At Sip

In today’s Issue 📥

• Xaigi Builds AI Startups!

• Think Beyond Probabilities.

• India’s epic reply.

• World’s Happiest Country!

SIP WORTHY

Xaigi Builds AI Startups!

☕ Good Morning! Sippers,

Founded in 2021 by Tarun Tyagi, Xaigi is an AI consulting company that helps startups navigate the complexities of AI development and implementation. By identifying the problems faced by startups, Xaigi helps companies define and design their AI business ideas, develop suitable solutions, and scale their technologies.

Xaigi operates on a cash+equity business model, where they charge their clients a certain amount of cash and the rest is charged as equity. This allows Xaigi to align its incentives with its client’s success, investing in their work for the longer run. The company currently works with three startups on building their businesses and focuses on the European, Middle Eastern, and North American markets.

In FY23, Xaigi’s financial revenue was $650K, and it hit $350K in FY22, with a current run rate of $50K per month. The company is on track to hit a revenue close of $1 million without the need to raise funds. Despite this success, Xaigi plans to expand its business to focus on enterprises as well as startups, strengthen its sales team, and launch its own products into the Indian market.

At Xaigi, the team is dedicated to helping startups and businesses realize the potential of AI and overcome its complexities. With their expertise and innovative approach, Xaigi is set to make a mark in the world of AI consulting.

IMPROVEMENT SIP

Think Beyond Probabilities: How to Make Better Decisions in Life and Investing, According to Peter L. Bernstein

Making decisions is an integral part of our daily lives, and it becomes all the more crucial when it comes to investing. Peter L. Bernstein, the famous investor, believed that the key to making better decisions was to focus on the consequences rather than probabilities.

Bernstein highlighted the importance of accepting that we cannot predict the future and that mistakes are inevitable. He emphasized the need to consider the impact of our decisions and establish whether we can survive the consequences if we’re wrong.

Bernstein’s philosophy is not limited to investing but can be applied to any decision-making scenario. He stresses that it’s not about being convinced beyond doubt that you’re right but about considering the consequences of your actions and making sure that you can handle them.

One real-life example of this philosophy in action is the story of a legendary investor, Warren Buffett. Buffett is known for his long-term investing strategy and his ability to make informed decisions by considering the long-term consequences of his actions.

In his annual letter to Berkshire Hathaway shareholders, Buffett wrote, “Our investment decisions continue to be based on an assessment of long-term business prospects. In judging whether we should acquire some businesses, we care about the prospects for the underlying economic goodwill that the business can generate.”

As Bernstein wisely said,

“You have to keep reminding yourself: We don’t know what’s going to happen with anything, ever, over any period. And so it’s inevitable that a certain percentage of our decisions will be wrong. There’s just no way we can always make the right decision.

“That doesn’t mean you’re an idiot. But it does mean you must focus on how serious the consequences could be if you turn out to be wrong: Suppose this doesn’t do what I expected it to do—not just because it goes bad, but even if it just doesn’t go up enough. What’s gonna be the impact on me? If it goes wrong, how wrong could it go and how much will it matter?

“[This] doesn’t mean that you have to be convinced beyond doubt that you are right. But you have to think about the consequences of what you’re doing and establish that you can survive them if you’re wrong. Consequences are more important than probabilities. This isn’t just a paradigm for always coming out with conservative decisions. It’s really how you should make decisions, period.”

Source: A (Long) Chat with Peter L. Bernstein

HOT SIP

Finland Reigns Supreme as World’s Happiest Country!

On March 20, Finland was declared the happiest country in the world, according to the annual World Happiness Report. This marks Finland’s sixth consecutive year at the top, thanks to high scores in GDP per capita, social support, healthy life expectancy, freedom, generosity, and low corruption. The report is a publication of the UN Sustainable Development Solutions Network and is based on survey data from people in more than 150 countries.

Nordic Countries Continue to Top the List

Denmark came in second place, while Iceland ranked third on this year’s list. The Nordic countries continue to feature prominently in the rankings due to their high levels of personal and institutional trust. Additionally, the Nordic countries had COVID-19 death rates only one-third as high as elsewhere in Western Europe during 2020 and 2021.

Positive Emotions Remain Strong Despite Difficult Times

Despite the challenges of the past two years, positive emotions have remained twice as prevalent as negative ones, and feelings of positive social support are twice as strong as those of loneliness, according to John Helliwell, one of the authors of the report. “Benevolence to others, especially the helping of strangers, which went up dramatically in 2021, stayed high in 2022,” he added.

India Ranks Low on the Happiness Index

India, one of the fastest-growing economies, ranked 126 on the happiness index, below Nepal, China, Bangladesh, and Sri Lanka.

Conflict Affects Rankings

Interestingly, the rankings of both Russia and Ukraine dropped due to the ongoing conflict between the two countries. Russia ranked 72nd, while Ukraine was placed at 92nd spot.

SMALL SIPS

Intern Power: Third Unicorn’s co-founder Aseem Ghavri wanted to work as an intern or personal assistant with the top start-up founders of the country, he has revealed. In a podcast with social media influencer, Raj Shamani, Ghavri said, “I wanted to understand the entire funding game. I was ready to work as an intern or PA.” The other co-founder at Third Unicorn is the more popular Ashneer Grover.

60 Seconds to Spare: A group of English football fans were so thirsty while stuck on a delayed train that they ordered a beer delivery from Uber Eats mid-journey—and gambled on being able to collect it with exquisite timing upon arrival at the next station.

‘berry’ good: Three new varieties of grapes that can withstand adverse weather and promise more yield have been developed by researchers, a development that will come as a boost to farmers eyeing more income. The University of Horticultural Sciences (UHS), Bagalkot, and ICAR-National Research Centre for Grapes based in Pune, Maharashtra, are behind the new varieties ‘Manjira Kishmish’, ‘Manjira Midika’ and ‘Manjira Shama’.

Surprise Visit: Russian President Vladimir Putin made a surprise trip to the occupied cities of Mariupol and Sevastopol on the day of the ninth anniversary of Crimea’s reunification with Russia. These two war-ravaged cities were largely destroyed in a year-long Russian offensive against Ukraine. He was seen driving a car in Sevastopol, while he traveled to Mariupol in a helicopter.

Million Dead Fish: An emergency operations center has been activated in Menindee, a small town in the far west of Australia’s New South Wales (NSW), to facilitate multi-agency operations after millions of native fish were found floating down the Darling river.

With CHAI ☕

🚘 Ceo: CEAT appoints COO, Arnab Parab as new CEO.

💸 How to: claim income tax benefits on home loans in FY23?

🐕 Aww: The sweetest staring contest.

⌚ It’s Interesting: Greenwich, London, Was the Logical Choice for the Prime Meridian.

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