Ryan Sevey. He’s the CEO of Nexosis, an artificial intelligence and machine learning startup focused exclusively on developers.
Famous Five:
- Favorite Book? – The Hard Thing About Hard Things
- What CEO do you follow? – Elon Musk
- Favorite online tool? — Aha!
- How many hours of sleep do you get?— 4
- If you could let your 20-year old self, know one thing, what would it be? – “Learn how to be true to yourself”
Time Stamped Show Notes:
- 01:25 – Nathan introduces Ryan to the show
- 01:55 – Nexosis was launched in 2015
- 01:59 – Nexosis offers a solution that big retailers are forecasting
- 02:24 – Nexosis has 300 developers who use their APIs
- 02:56 – Nexosis has developers from the retail space who have their point-of-sale data
- 03:11 – Nexosis will take the developers data and give out a result
- 04:13 – This result can help in the decision making for the future
- 04:34 – Nexosis gets people to be more proactive than reactive
- 04:52 – Nexosis found out how companies are using their historical data
- 05:14 – Nexosis adds more features to training
- 05:23 – Nexosis’s add-on layers
- 05:41 – With sentiment analysis, one good example is Wendy’s Twitter account
- 06:00 – You can use the number of tweets as a numerical value that can go back to your data
- 06:39 – One huge case involves a Wendy’s beside a convention center; Nexosis can predict future revenues
- 06:51 – Nexosis can predict future revenues and can understand the real impact of an event
- 07:23 – Nexosis focuses on the developer ecosystem
- 07:38 – Nexosis charges .10₵ per 1000 predictions
- 08:17 – Nexosis makes money once the developer talks to the enterprise and shows the API
- 08:43 – Nexosis charges the developers by consumption
- 09:24 – Average pay per customer depends on the data that they have which usually starts at $10K
- 09:42 – Nexosis was founded in 2015
- 09:53 – Ryan and his co-founder have been looking at machine learning since 2012
- 10:09 – Nexosis was originally considered an information security company
- 10:21 – Team size is 15 and they’re based in Ohio
- 10:38 – Nexosis has millions of API calls per month but their focus is on the number of developers
- 11:30 – Ryan’s vision is for developers to enjoy Nexosis, be it as a hobby or use in a professional way
- 11:55 – Nexosis is currently serving 100 different enterprise type of developers
- 12:26 – What Ryan sees is when a developer signs up, he’ll make 1-2 projects then invite his friend to try Nexosis
- 12:57 – Most of the developers are already in a company
- 13:10 – MRR
- 13:20 – Nexosis has raised a little less than $7M
- 13:39 – The long term goal for Nexosis is to raise more
- 13:56 – Twilio has survived their early days with VC funding
- 14:26 – Nexosis measures expansion rate rather than the churn
- 15:37 – Nexosis aims for 100% month over month growth and at the moment, they’re hitting it
- 16:30 – Consumption in terms of the number of predictions is over a million
- 17:55 – The Famous Five
3 Key Points:
- There are companies who rely mostly on raising funds to scale.
- Knowing the data for your FUTURE can help in your decision making TODAY.
- No matter what—be true to yourself!
Resources Mentioned:
- The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- Klipfolio – Track your business performance across all departments for FREE
- Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
- Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
- Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives