Awarepreneurs - #298: Building Social Beneficial Companies Leveraging AI with Prashant Samant

🔖 Titles

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1. Leveraging AI to Address Homelessness and Emergency Care: Prashant Samant's Insights 2. Building a Socially Aware Company: Prashant Samant Shares Entrepreneurial Tips 3. From Y Combinator to Aikido Labs: Identifying Market Needs for Social Change 4. Leveraging Data for Social Impact: USC Digital Health Lab's Prashant Samant 5. The Future of Social Entrepreneurship: Prashant Samant's Expert Insights 6. Empowering Vulnerable Populations: Prashant Samant's Success Story 7. Addressing the Wealth Gap through AI: Prashant Samant's Aikido Labs 8. Creating a Thriving Company with a Positive Impact Focus: Prashant Samant's Advice 9. A Mission and Vision for Social Entrepreneurs: Prashant Samant's Thoughts 10. From Give Change to Aikido Labs: Prashant Samant's Journey in Social Entrepreneurship

💬 Keywords

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mental health, medical system, homelessness, sponsor strategy, Akita Labs, Y Combinator, venture capital, customer development, entrepreneurship, early stage investors, Elon Musk, Tesla, AI technology, systemic issues, market-based solutions, wealth gap, safety net programs, USCD Health Lab, Aikido Labs, vulnerable populations, predictive analytics, machine learning, positive impact, talented individuals, mission and vision, service, healthcare, Alameda County Medical Center, underprivileged youth program, Give Change, nonprofit, social media, Crew, volunteerism, USCT Health Lab, data analysis.

💡 Speaker bios

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Prashant Samant is a social entrepreneur who grew up volunteering at the Alameda County Medical Center and was inspired by his family's commitment to service. After college, he co-founded Give Change, a nonprofit that helped struggling charitable organizations engage younger donors through social media. This experience fueled his passion for working at the intersection of impact and technology, and he went on to co-found Crew, a platform that connected volunteers with opportunities to serve. In 2013, Crew was acquired and Samant started the USC Digital Health Lab to explore the use of data in addressing systemic issues in healthcare and the safety net.

ℹ️ Introduction

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On this episode of Awarepreneurs, host Paul Zelizer sits down with guest Prashant Samant to discuss building social beneficial companies leveraging AI. They begin by discussing the brokenness of the mental health and medical system and how AI technology can pre-identify regions where homeless individuals are likely to face adverse events. Samant emphasizes the importance of gaining traction and showing growth to attract early stage investors, and discusses his business Aikido Labs, which uses machine learning to identify higher-risk individuals for preventative care. The speaker also offers advice to listeners on starting a meaningful venture, and how positive impact can create a competitive advantage for companies. Samant's personal experience as a founder of a healthcare company is also shared, showcasing his background in service and dedication to creating impactful solutions.

❇️ Key topics and bullets

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Topics covered in the audio session include:
- The brokenness of the mental health and medical system - Strategy session package for entrepreneurs from a sponsor - Current state of Akita Labs, including their team, programs, and revenue streams - Experience building a venture funded company called Crew - Importance of showcasing early traction for early stage investors - The significance of gaining traction and showcasing growth for attracting investors - Emergency care for homeless individuals and the potential use of AI technology for preventative care - The importance of solving a problem that is meaningful in the world - Widening wealth gap despite investment in safety net programs - Aikido Labs, a multi-sided business model with different phases - Competitive advantage of companies focusing on creating a positive impact - Attracting talented individuals to a company through a clear mission and vision - Speaker's background, including volunteering in healthcare and founding Give Change, Crew, and USCT Health Lab
Note: These topics are not in order of appearance and are summarized in bullet points per topic.

📚 Timestamped overview

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01:53 Founder's early experiences shape Aikido Labs launch.

08:55 Data can be used to address inequality.

15:13 Y Combinator valuable, pushes for impact.

17:25 YC program: venture capital "graduate school".

20:29 Aikido Labs organized scattered databases for analysis.

24:25 AI platform improves healthcare for homeless people.

31:29 Mental health system broken, urgent care needed.

33:36 Aikido grows fast, aims for millions patients.

38:03 Passionate team attracts talent through mission.

41:12 Competitive advantages for companies with impact focus.

44:50 Entrepreneurship is easier now, start now.

50:40 Early stage investors value traction over vision.

54:21 Connect with Aikido Labs; Amplify impact.

🎞️ Clipfinder: Quotes, Hooks, & Timestamps

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Prashant Samant 00:01:53 00:06:44

Social Impact and Technology: "I think just at a very early age was, you know, inspired by people in our family, particularly women that were working in service and usually in service towards helping people thrive in ways that were meaningful to them."

Prashant Samant 00:08:55 00:12:13

The Potential of Data to Address Social Disparities: "Data can be used as a force to either deal with things in a more pressured manner or change dramatically change the cost structure around things."

Prashant Samant 00:15:13 00:16:48

"Is Y Combinator overhyped?": "It is one of the most incredibly intelligent communities that I've had the pleasure of being a part of."

Prashant Samant 00:17:25 00:20:12

Lessons for Every Entrepreneur: "I think a lot of people still think about creating a business or their first pitch as articulating this pitch. And if the pitch is good, then I'll get funded. But it you know, what it what I I I think it really comes down to is showcasing really concrete evidence that your thesis is working."

Prashant Samant 00:20:29 00:23:35

"Aikido Labs: We have a way of bringing together this set of data in a meaningful manner so we can get a better understanding what's happening to someone's well-being, kinda creating a well-being grasp."

Prashant Samant 00:24:25 00:29:27

Homelessness and Healthcare: "Their life on the, you know, once become once someone becomes chronically homeless, their life expectancy, I think, got something like forty one years old. That's without a keto."

Prashant Samant 00:33:36 00:35:25

"Aikido's goal is to get to over a million patients by the end of next year and 5,000,000 patients by the end of 2025."

Prashant Samant 00:38:03 00:41:11

The Importance of Mission: "If you don't have a mission, it's difficult to attract talent anymore. I think that there's particularly this new generation of grads. They really want to feel like they're time is being spent on something that matters."

Prashant Samant 00:44:50 00:48:42

Entrepreneurship Advice: "There's no reason why you can't drop what it is that you're doing right now and start working on solving a problem that you find meaningful in the world. There is the best time ever to be an entrepreneur."

Prashant Samant 00:50:40 00:53:17

"The Importance of Traction for Early Stage Investors: Real product managers wear sneakers."

🎬 Reel script

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"Hey entrepreneurs! In my latest podcast episode of Awarepreneurs, I had the pleasure of hosting Prashant Samant, a successful entrepreneur and founder of Aikido Labs, a company leveraging AI to address complex social issues. We touched on a variety of topics including how early traction and concrete evidence of your thesis is critical when attracting early-stage investors, the importance of showcasing a clear mission and vision to attract talented individuals to your team, and how AI technology can change the face of emergency care for homeless individuals. We also dove into the advantage of creating a positive impact with your business and how it can bring in younger clients while achieving meaningful, sustainable growth. So, what are you waiting for? Tune in to Awarepreneurs today!" #entrepreneurmindset #socialimpact #AIinnovation #startupstories.

👩‍💻 LinkedIn post

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🎙️ Excited to share key takeaways from the latest episode of Awarepreneurs where host Paul Zelizer is joined by Prashant Samant of Aikido Labs to discuss building socially beneficial companies leveraging AI. Here are the three key takeaways for listeners: 1️⃣ Early traction is crucial for attracting early stage investors. Entrepreneurs must showcase concrete evidence that their thesis is working, which most often looks like early traction, such as sales or support from key partners. 2️⃣ There is no better time than now to be an entrepreneur as there is more information, infrastructure, and capital available. Start working on solving a problem that you find meaningful in the world by focusing on understanding the systemic issues driving the problem. 3️⃣ Companies with a focus on creating positive impact have a competitive advantage over those that do not. Leverage this advantage by sharing your dedication to positive impact as customers and clients under forty prefer doing business with companies with a positive impact focus. 👉 Listen to the full conversation on building social beneficial companies leveraging AI with Prashant Samant on Awarepreneurs.

🗞️ Newsletter

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Dear [Subscriber], In this week's episode of Awarepreneurs, host Paul Zelizer and guest Prashant Samant explore the importance of creating social beneficial companies that leverage AI to address systemic issues in society. In this episode, the speakers discuss the state of emergency care for the homeless and propose using AI technology to pre-identify regions where homeless individuals are likely to face adverse events to provide preventative care. Additionally, they dive into the importance of gaining traction and showcasing early growth for attracting investors. The episode continues with a discussion of Aikido Labs, a multi-sided business model with a focus on addressing social determinants of health. Listeners are encouraged to lean into the competitive advantage of having a positive impact-focused company and strive to balance impact and profitability. Finally, the speaker highlights the importance of having a clear mission and vision to attract talented individuals to a company. We hope you enjoy this episode and feel inspired to make a positive impact in your own business ventures. Sincerely, [Your Name]

🧵 Tweet thread

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THREAD: Mental health and medical systems are broken, leaving the vulnerable homeless with no support. There should be multiple touch points within the system throughout the year. Sponsor's strategy session package enables entrepreneurs to create impact. Speaker shares their experience building a venture funded company before launching their current company. Early traction such as sales or support from key partners is crucial for attracting early-stage investors. Book recommendations on customer development and entrepreneurship. Emergency care for homeless individuals is expensive and often results in limited care and a ruined life. Speaker proposes utilizing AI technology to pre-identify regions where homeless individuals are likely to face adverse events, allowing teams to provide preventative care. Start working on solving a problem that you find meaningful in the world. Understand the systemic issues driving the problem. Test early for a market-based way of addressing the root cause issue. Importance of getting traction in both dimensions to attract investors. Widening wealth gap despite massive investment in safety net programs. Speaker ponders on utilizing the data being generated in the past 20 years to address the structural issues within the safety net ecosystem. USC Digital Health Lab exploring how data can help address challenges. Aikido Labs involved organizing multidimensional information on vulnerable populations to identify higher-risk individuals and overutilization of services. Utilizing this information for preventative care and addressing social determinants of health. Importance of balancing impact and profitability. Attracting talented individuals depends on having a clear mission and vision. Speaker acknowledges new trend where people want to feel like they are spending their time on something that matters. Balancing impact and profitability is worth it to create a thriving company with significant impact at scale. Speaker launched Aikido Labs out of USC Digital Health Lab. Family background in healthcare service. Founded Give Change, a nonprofit during the 2007 economic crisis. Built another company called Crew with a focus on volunteerism. Started USC Health Lab to address systemic issues in healthcare.

❓ Questions

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1. How can AI technology be used to provide preventative care for homeless populations? 2. How can entrepreneurs balance impact and profitability in their companies? 3. What challenges do companies dedicated to creating a positive impact face in attracting talented individuals? 4. Why is it important to have a clear mission and vision when building a company? 5. How can companies leverage early traction to attract early-stage investors? 6. How can the data generated over the past 20 years be used to address issues in safety net ecosystems? 7. What are some of the key lessons the speaker learned from going through the Y Combinator program? 8. How did the speaker validate their thesis around systemic issues and market need? 9. What role do social beneficial companies play in addressing the brokenness of the mental health and medical system? 10. How can entrepreneurs test early whether there is a market-based way of addressing root cause issues?

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