Leonardo—The New Midjourney?

Users are comparing the new cowboy to Midjourney.

Leonardo.AI creates great photographs and has several unique capabilities I haven't seen in other AI image systems.

Midjourney's quality photographs are evident in the community feed.

Create Pictures Using Models

You can make graphics using platform models when you first enter the app (website):

Luma, Leonardo creative, Deliberate 1.1.

Clicking a model displays its description and samples:

Click Generate With This Model.

Then you can add your prompt, alter models, photos, sizes, and guide scale in a sleek UI.

Changing Pictures

Leonardo's Canvas editor lets you change created images by hovering over them:

The editor opens with masking, erasing, and picture download.

Develop Your Own Models

I've never seen anything like Leonardo's model training feature.

Upload a handful of similar photographs and save them as a model for future images. Share your model with the community.

You can make photos using your own model and a community-shared set of fine-tuned models:

Obtain Leonardo access

Leonardo is currently free.

Visit Leonardo.ai and click "Get Early Access" to receive access.

Add your email to receive a link to join the discord channel. Simply describe yourself and fill out a form to join the discord channel.

Please go to 👑│introductions to make an introduction and ✨│priority-early-access will be unlocked, you must fill out a form and in 24 hours or a little more (due to demand), the invitation will be sent to you by email.

I got access in two hours, so hopefully you can too.

Last Words

I know there are many AI generative platforms, some free and some expensive, but Midjourney produces the most artistically stunning images and art.

Leonardo is the closest I've seen to Midjourney, but Midjourney is still the leader.

It's free now.

Leonardo's fine-tuned model selections, model creation, image manipulation, and output speed and quality make it a great AI image toolbox addition.

TL;DR: It'll be harder than you think.

Mobile app development is a complicated product design sector. You require broad expertise to create a mobile app. You must write Swift or Java code and consider mobile interactions.

When ChatGPT was released, many were amazed by its capabilities and wondered if it could replace designers and developers. This article will use ChatGPT to answer a specific query.

Can ChatGPT build an entire iOS app?

This post will use ChatGPT to construct an iOS meditation app. Video of the article is available.

App concepts for meditation

After deciding on an app, think about the user experience. What should the app offer?

Let's ask ChatGPT for the answer.

ChatGPT described a solid meditation app with various exercises. Use this list to plan product design. Our first product iteration will have few features. A simple, one-screen software will let users set the timeframe and play music during meditation.

Structure of information

Information architecture underpins product design. Our app's navigation mechanism should be founded on strong information architecture, so we need to identify our mobile's screens first.

ChatGPT can define our future app's information architecture since we already know it.

ChatGPT uses the more complicated product's structure. When adding features to future versions of our product, keep this information picture in mind.

Color palette

Meditation apps need colors. We want to employ relaxing colors in a meditation app because colors affect how we perceive items. ChatGPT can suggest product colors.

See the hues in person:

Neutral colors dominate the color scheme. Playing with color opacity makes this scheme useful.

Ambiance music

Meditation involves music. Well-chosen music calms the user.

Let ChatGPT make music for us.

ChatGPT can only generate text. It directs us to Spotify or YouTube to look for such stuff and makes precise recommendations.

Fonts

Fonts can impress app users. Round fonts are easier on the eyes and make a meditation app look friendlier.

ChatGPT can suggest app typefaces. I compare two font pairs when making a product. I'll ask ChatGPT for two font pairs.

See the hues in person:

Despite ChatGPT's convincing font pairing arguments, the output is unattractive. The initial combo (Open Sans + Playfair Display) doesn't seem to work well for a mediation app.

Content

Meditation requires the script. Find the correct words and read them calmly and soothingly to help listeners relax and focus on each region of their body to enhance the exercise's effect.

ChatGPT's offerings:

ChatGPT outputs code. My prompt's word script may cause it.

Timer

After fonts, colors, and content, construct functional pieces. Timer is our first functional piece. The meditation will be timed.

Let ChatGPT write Swift timer code (since were building an iOS app, we need to do it using Swift language).

ChatGPT supplied a timer class, initializer, and usage guidelines.

Apple Xcode requires a playground to test this code. Xcode will report issues after we paste the code to the playground.

Fixing them is simple. Just change Timer to another class name (Xcode shows errors because it thinks that we access the properties of the class we’ve created rather than the system class Timer; it happens because both classes have the same name Timer). I titled our class Timero and implemented the project. After this quick patch, ChatGPT's code works.

Can ChatGPT produce a complete app?

Since ChatGPT can help us construct app components, we may question if it can write a full app in one go.

Question ChatGPT:

ChatGPT supplied basic code and instructions. It's unclear if ChatGPT purposely limits output or if my prompt wasn't good enough, but the tool cannot produce an entire app from a single prompt.

However, we can contact ChatGPT for thorough Swift app construction instructions.

We can ask ChatGPT for step-by-step instructions now that we know what to do. Request a basic app layout from ChatGPT.

Copying this code to an Xcode project generates a functioning layout.

Takeaways

• ChatGPT may provide step-by-step instructions on how to develop an app for a specific system, and individual steps can be utilized as prompts to ChatGPT. ChatGPT cannot generate the source code for the full program in one go.

• The output that ChatGPT produces needs to be examined by a human. The majority of the time, you will need to polish or adjust ChatGPT's output, whether you develop a color scheme or a layout for the iOS app.

• ChatGPT is unable to produce media material. Although ChatGPT cannot be used to produce images or sounds, it can assist you build prompts for programs like midjourney or Dalle-2 so that they can provide the appropriate images for you.

As technology develops, you should stay up to date

You don't want to fall behind, do you? This post covers 7 tech-related things you should know.

You'll learn how to operate your computer (and other electronic devices) like an expert and how to leverage the Internet and social media to create your brand and business. Read on to stay relevant in today's tech-driven environment.

You must learn how to code.

Future-language is coding. It's how we and computers talk. Learn coding to keep ahead.

Try Codecademy or Code School. There are also numerous free courses like Coursera or Udacity, but they take a long time and aren't necessarily self-paced, so it can be challenging to find the time.

Artificial intelligence (AI) will transform all jobs.

Our skillsets must adapt with technology. AI is a must-know topic. AI will revolutionize every employment due to advances in machine learning.

Here are seven AI subjects you must know.

What is artificial intelligence?

How does artificial intelligence work?

What are some examples of AI applications?

How can I use artificial intelligence in my day-to-day life?

What jobs have a high chance of being replaced by artificial intelligence and how can I prepare for this?

Can machines replace humans? What would happen if they did?

How can we manage the social impact of artificial intelligence and automation on human society and individual people?

Blockchain Is Changing the Future

Few of us know how Bitcoin and blockchain technology function or what impact they will have on our lives. Blockchain offers safe, transparent, tamper-proof transactions.

It may alter everything from business to voting. Seven must-know blockchain topics:

1. Describe blockchain.

2. How does the blockchain function?

3. What advantages does blockchain offer?

4. What possible uses for blockchain are there?

5. What are the dangers of blockchain technology?

6. What are my options for using blockchain technology?

7. What does blockchain technology's future hold?

Cryptocurrencies are here to stay

Cryptocurrencies employ cryptography to safeguard transactions and manage unit creation. Decentralized cryptocurrencies aren't controlled by governments or financial institutions.

Bitcoin, the first cryptocurrency, was launched in 2009. Cryptocurrencies can be bought and sold on decentralized exchanges.

Bitcoin is here to stay.

Bitcoin isn't a fad, despite what some say. Since 2009, Bitcoin's popularity has grown. Bitcoin is worth learning about now. Since 2009, Bitcoin has developed steadily.

With other cryptocurrencies emerging, many people are wondering if Bitcoin still has a bright future. Curiosity is natural. Millions of individuals hope their Bitcoin investments will pay off since they're popular now.

Thankfully, they will. Bitcoin is still running strong a decade after its birth. Here's why.

The Internet of Things (IoT) is no longer just a trendy term.

IoT consists of internet-connected physical items. These items can share data. IoT is young but developing fast.

20 billion IoT-connected devices are expected by 2023. So much data! All IT teams must keep up with quickly expanding technologies. Four must-know IoT topics:

1. Recognize the fundamentals: Priorities first! Before diving into more technical lingo, you should have a fundamental understanding of what an IoT system is. Before exploring how something works, it's crucial to understand what you're working with.

2. Recognize Security: Security does not stand still, even as technology advances at a dizzying pace. As IT professionals, it is our duty to be aware of the ways in which our systems are susceptible to intrusion and to ensure that the necessary precautions are taken to protect them.

3. Be able to discuss cloud computing: The cloud has seen various modifications over the past several years once again. The use of cloud computing is also continually changing. Knowing what kind of cloud computing your firm or clients utilize will enable you to make the appropriate recommendations.

4. Bring Your Own Device (BYOD)/Mobile Device Management (MDM) is a topic worth discussing (MDM). The ability of BYOD and MDM rules to lower expenses while boosting productivity among employees who use these services responsibly is a major factor in their continued growth in popularity.

IoT Security is key

As more gadgets connect, they must be secure. IoT security includes securing devices and encrypting data. Seven IoT security must-knows:

1. fundamental security ideas

2. Authorization and identification

3. Cryptography

4. electronic certificates

5. electronic signatures

6. Private key encryption

7. Public key encryption

Final Thoughts

With so much going on in the globe, it can be hard to stay up with technology. We've produced a list of seven tech must-knows.

I've written a lot about Y Combinator's success, but as any startup founder or investor knows, many startups fail.

Rebel Fund invests in the top 5-10% of new Y Combinator startups each year, so we focus on identifying and supporting the most promising technology startups in our ecosystem. Given the power law dynamic and asymmetric risk/return profile of venture capital, we worry more about our successes than our failures. Since the latter still counts, this essay will focus on the proportion of YC startups that fail.

Since YC's launch in 2005, the figure below shows the percentage of active, inactive, and public/acquired YC startups by batch.

As more startups finish, the blue bars (active) decrease significantly. By 12 years, 88% of startups have closed or exited. Only 7% of startups reach resolution each year.

YC startups by status after 12 years:

Half the startups have failed, over one-third have exited, and the rest are still operating.

In venture investing, it's said that failed investments show up before successful ones. This is true for YC startups, but only in their early years.

Below, we only present resolved companies from the first chart. Some companies fail soon after establishment, but after a few years, the inactive vs. public/acquired ratio stabilizes around 55:45. After a few years, a YC firm is roughly as likely to quit as fail, which is better than I imagined.

I prepared this post because Rebel investors regularly question me about YC startup failure rates and how long it takes for them to exit or shut down.

Early-stage venture investors can overlook it because 100x investments matter more than 0x investments.

YC founders can ignore it because it shouldn't matter if many of their peers succeed or fail ;)

I recently wrote about getting VCs excited about Marketplace start-ups. SaaS founders became envious!

Understanding how people wire tens of millions is the only Series A hack I recommend.

Few people understand the intellectual process behind investing.

VC is risk management.

Series A-focused VCs must cover two risks.

1. Market risk

You need a large market to cross a threshold beyond which you can build defensibilities. Series A VCs underwrite market risk.

They must see you have reached product-market fit (PMF) in a large total addressable market (TAM).

2. Execution risk

When evaluating your growth engine's blitzscaling ability, execution risk arises.

When investors remove operational uncertainty, they profit.

Series A VCs like businesses with derisked revenue streams. Don't raise unless you have a predictable model, pipeline, and growth.

Please beat these 3 metrics before Series A:

Achieve $1.5m ARR in 12-24 months (Market risk)

Above 100% Net Dollar Retention. (Market danger)

Lead Velocity Rate supporting $10m ARR in 2–4 years (Execution risk)

Hit the 3 and you'll raise $10M in 4 months. Discussing 2/3 may take 6–7 months.

If none, don't bother raising and focus on becoming a capital-efficient business (Topics for other posts).

Let's examine these 3 metrics for the brave ones.

1. Lead Velocity Rate supporting €$10m ARR in 2 to 4 years

Last because it's the least discussed. LVR is the most reliable data when evaluating a growth engine, in my opinion.

SaaS allows you to see the future.

Monthly Sales and Sales Pipelines, two predictive KPIs, have poor data quality. Both are lagging indicators, and minor changes can cause huge modeling differences.

Analysts and Associates will trash your forecasts if they're based only on Monthly Sales and Sales Pipeline.

LVR, defined as month-over-month growth in qualified leads, is rock-solid. There's no lag. You can See The Future if you use Qualified Leads and a consistent formula and process to qualify them.

With this metric in your hand, scaling your company turns into an execution play on which VCs are able to perform calculations risk.

2. Above-100% Net Dollar Retention.

Net Dollar Retention is a better-known SaaS health metric than LVR.

Net Dollar Retention measures a SaaS company's ability to retain and upsell customers. Ask what $1 of net new customer spend will be worth in years n+1, n+2, etc.

Depending on the business model, SaaS businesses can increase their share of customers' wallets by increasing users, selling them more products in SaaS-enabled marketplaces, other add-ons, and renewing them at higher price tiers.

If a SaaS company's annualized Net Dollar Retention is less than 75%, there's a problem with the business.

Slack's ARR chart (below) shows how powerful Net Retention is. Layer chart shows how existing customer revenue grows. Slack's S1 shows 171% Net Dollar Retention for 2017–2019.

Slack S-1

3. $1.5m ARR in the last 12-24 months.

According to Point 9, $0.5m-4m in ARR is needed to raise a $5–12m Series A round.

Target at least what you raised in Pre-Seed/Seed. If you've raised $1.5m since launch, don't raise before $1.5m ARR.

Capital efficiency has returned since Covid19. After raising $2m since inception, it's harder to raise $1m in ARR.

P9's 2016-2021 SaaS Funding Napkin

In summary, less than 1% of companies VCs meet get funded. These metrics can help you win.

If there’s demand for it, I’ll do one on direct-to-consumer.

Cheers!