AI for Growth: Lessons from Leaders · 2026-04-22 · 36 min
Key moments - from our scoring
Substance score
53 / 100
Five dimensions, 20 points each
Sergei Pustylnikov founded 100xBio two and a half years ago to automate biological processes for cancer vaccine development, bringing both technical expertise and hard-won business acumen to a complex space. The episode centers on his journey from research scientist to founder - a transition requiring fundamental shifts in communication and collaboration skills. Pustylnikov candidly discusses how AI tools like Gemini, Notebook LM, and ChatGPT projects help him brainstorm hypotheses, refine presentations, improve document flow as a non-native English speaker, and maintain segmented contexts for different business functions. He emphasizes the importance of using extended-context AI systems (Gems in Gemini, Projects in ChatGPT) to keep business advice specific and relevant rather than general, and recommends Y Combinator's free Startup School course for founders learning fundraising fundamentals. The conversation also covers venture-backable company criteria - 10x technology improvement, proof of concept, IP protection, strong founding teams with skin in the game, and sizable addressable markets - distinguishing this from bootstrapped models. Pustylnikov explains how he raised angel checks from his network before approaching institutional VCs, emphasizing that co-founder relationships make or break startups and that venture investors need conviction in 20-50x return potential despite inherent failure risks.
Pustylnikov uses machine learning and computer vision to build self-learning systems for automating biology experiments. At the operational level, they use Gemini (with Gems feature), Notebook LM, and ChatGPT Projects for brainstorming, document improvement, hypothesis generation, and keeping business context segmented from personal queries.
Venture-backable companies need a 10x technology improvement over existing solutions, proof of concept, IP protection, a strong founding team with personal financial investment, and a large addressable market. Bootstrapped companies must reach profitability quickly through revenue, while venture-backed companies build investable traction to attract VC funding.
Create separate projects or sandboxes (ChatGPT Projects, Gemini Gems, or Notebook LM) for different business functions, upload your origin story and key documents, and explicitly specify the audience and context for each request so the AI tailors advice to your specific situation rather than giving general guidance.
Y Combinator Startup School is a free, two-week video course accessible by searching "Y Combinator Startup School" that teaches how to build companies with potential for large growth; Pustylnikov credits it with helping him understand venture fundraising fundamentals and recommends it to any prospective founder.
He had prior entrepreneurial experience with side projects and read extensively about company building, but the hardest shift was moving from focused laboratory work to constant communication and networking. He supplemented this with business education courses (including IP law) taken during his postdoc while founding the company.
Our reviewer’s read on each dimension, with quotes from the episode.
The episode contains some useful frameworks (venture-backable company requirements, pre-seed vs seed dynamics, AI applications in biotech) but relies heavily on generic advice about entrepreneurship and AI tools. The guest repeats common talking points about AI productivity rather than sharing novel, hard-won operational insights. Much of the conversation circles around introductory material (Y Combinator courses, ChatGPT projects, segmentation) that a B2B operator would likely already know.
Things that work for venture is Your technology should be at least 10 times better in doing some certain thing
the right time to approach VCs will be maybe in a few months from now, but not even today
While the guest offers some specific observations (emerging fund math, pre-seed challenges in biotech funding, AI-driven sales reducing CAC), most discussion recycled familiar startup advice: the importance of co-founders, proof of concept, IP protection, and using LLMs for document editing. The assertion about AI becoming a recommendation engine for B2B products is interesting but underdeveloped and not substantively explored.
emerging funds. They can have $1 million, $5 million, $10 or $20 million fund. But for them to have this statistical distribution, to have one winner company out of 10 or out of 20
Machines they most of the time they can't make such decisions. yes, intelligent decision making in the product, that's very important
Sergei is a legitimate founder with 2.5 years of operating experience building an AI-enabled biotech company (100xBio) pursuing venture funding. He has a technical background, co-founded a real company, and is actively raising capital. However, he is pre-institutional funding and relatively early-stage, limiting his ability to share seasoned operational lessons or large-scale execution experience. He's a solid practitioner but not yet a proven scaled operator.
I found the 100xBio two and a half years ago and we're building new technology for automating biology
I had to learn tons of things and one of the hardest was to switch to constant communication
The episode lacks named examples, specific metrics, and concrete data. The guest mentions Y Combinator Startup School by name and references his company 100xBio, but provides no financial figures, customer traction numbers, experimental outcomes, or named competitor comparisons. Claims about AI growth ('hundred times in four in first four months' for OpenAI) are vague and unverified. Most discussion remains at an abstract level without grounding in quantifiable evidence.
The profits of open AI grew like I don't know like hundred times in four in first four months something like this I don't want to put it wrong
So the best way to find me and communicate with me is my LinkedIn
The host asks mostly open-ended, softball questions that allow the guest to deliver prepared talking points without pushback. Megan rarely probes for specifics, challenges vague claims, or follows up on contradictions. For example, when Sergei mentions OpenAI's growth rate, Megan doesn't fact-check or ask for clarification. The conversation reads as collaborative warmth rather than incisive inquiry; the host often validates and amplifies rather than critically examines.
Yeah, so tell us where you can find it because I have heard of it before
Yeah, I mean, I think I know where you're going with this, sort of
Computed from the transcript - who did the talking, and the words that came up most.
Sergei is the founder and CEO of 100XBIO, a Boston-based startup automating cell biology. An immunologist with 20 years of R&D experience, he previously led preclinical research for oncology and mRNA vaccine projects. He believes we cannot accelerate biotech while most lab experiments are still run manually. Sergei is now building a "one-click" benchtop instrument to make life-saving research 10x more efficient and research infrastructure AI-ready. Automating complex workflows is the only path to truly AI-driven biology labs.
Transcribed and scored by The B2B Podcast Index.
Megan Driscoll: Welcome AI for Growth, Lessons from Leaders. Today I have with me Sergey Pohl ⁓ from a tech company, which I just learned is kind of a new term for companies that are doing tech in biotechnology. ⁓ And I'm super happy to have him here to talk about the startup phase of a company like his and also just how AI is shaping the future for his business. So welcome, Sergey.
Why don't you tell us a little bit about yourself and your company? Sergei Pull: Hi Megan and hi everyone. Thank you for having me here. So I found the 100xBio two and a half years ago and we're building new technology for automating biology and there are some enabling capacities to build the new cancer vaccines and I'm very excited building it.
Megan Driscoll: Exciting, that's awesome. I used to work in the biopharmaceutical space when I owned my recruiting company called Pharmalogics. And so I have a special place in my heart for people who are working in that space. find that the people who work in that industry just in general are just like good people.
they're salt of the earth, got into this business for the right reasons, trying to make the world a better place. So thank you for all the work that you do in that space. ⁓ So this. Podcast is designed for small businesses.
like to talk about AI, but we also talk about sort of the challenges of growth for small companies. So maybe you could talk a little bit about the startup, maybe like what the last two and a half years have been like for you and, ⁓ and how you started and maybe some of the troubles, the sort of obstacles that you faced in your early stages. Sergei Pull: Yes, starting a company in our space is ⁓ very different to the majority of small businesses because ⁓ we need to build a foundation with some new technologies that can catch up a lot of space just because the technology is better than what it's around.
⁓ But technically, we don't have such a huge experience running and starting business, so it's a lot of learning on the go. ⁓ I had to learn tons of things and one of the hardest was to switch to constant communication. I need to talk to so many people. I remember days when I was the whole day working at the bench pipetting and not having five minutes to talk to my friend who was working next to me.
And these days I can meet, I don't know, 100 new people in a day at the conference and I should be fine with that. It's been a hard change. Megan Driscoll: Yeah. Well, you know, it's funny, you know, because I have such an experience working with scientists, you know, it is a different skillset, right?
⁓ and like you just said, working at the bench with your tools, your pipettes, your beakers, your HPLC machine, right? Right. Is a completely different thing than running a business and the skills that you need are very different. And so, it's interesting.
Have you gotten any, have you, I could see that as being a really big challenge, obviously. Have you gotten support in that area? Do you have a mentor? Like what have you done to build those skills that you lacked basically in what I would call maybe like sales or communication?
You know, how did you get comfortable with that? Sergei Pull: Yeah. I think that I always was entrepreneurial. I had different side jobs, side projects.
I had like 10 different research jobs in my life, 10 different non-research jobs where I was involved with my friends ⁓ into some IT, non-IT projects. And I just love to try new things. ⁓ But still, ⁓ most of my career was kind of a little bit... introverted but I would say building and starting business there are still tons of ⁓ introverted ⁓ activities.
Like you need to strategize some things and build some documents, build the presentations. ⁓ And ⁓ AI nowadays helps a lot with like all the document building, all the strategizing. You can ask the hard questions. Not always it will give you the good answer, but it's on you to decide if the answer is good or not.
But you will have tons of answers. And ⁓ accommodating to that, I would say that many entrepreneurs who trying to build that a fundable company, companies that at some point can be funded by venture capital, they need to look very differently than a small business. ⁓ Small businesses should be self-sustainable. They should ⁓ grow to that profitability point very, very soon because they kind of, they must bootstrap.
In our case, we need rather to build that investable traction. And there are a lot of Megan Driscoll: Yes. Sergei Pull: It's like additional layers of science that you need to learn about building such a company. And I think what helped me that my whole life I was interested in the space.
I'd read a lot about building companies. I had additional business education parallel with my PhD. I took some courses already here in US, along with my postdocs, something just while building a company. took a course on IP law.
could took a course. Actually, there is a free ⁓ Nice free educational course by Y Combinator. Y Combinator is the biggest world accelerator for startups. So they have free course.
It takes normally for people couple weeks. It's series of videos, but they teaching you ⁓ how to build from scratch something that has a chance to grow really big. And this helped me a lot and I keep advising anyone who is thinking of starting a company to go and check out this course. Megan Driscoll: Yeah, so tell us where you can find it because I have heard of it before.
⁓ Where can you find it? Sergei Pull: Yeah, yeah. So you just type in Y Combinator Startup School and it's going to come up. I don't think it even requires you to create an account and log in.
Likely it will, but then it's super easy. Megan Driscoll: Okay? Amazing. Okay, great.
Yeah, I love that kind of resource because I do think that even if you even if you started your company and you're only like a year in, I do think that the educational component of like just listen, you know, and actually it can be affirming like, hey, I'm doing these things. This is like good or, ooh, I missed the mark on that or I'm really struggling and now I see a path for something I could do to fix that problem because so much of ⁓ of the build part of building a company is like operational.
Sergei Pull: Yes. Megan Driscoll: Do you have an operational plan in place that can support whatever you're going to sell? If you sell something, especially if you're selling a service or a product, no matter what, you have to be able to deliver it. And so how are you the delivery, I think, is really important.
Sometimes I think business owners focus too much on the sales and not on the delivery. And then I think introverts, unfortunately, focus on the delivery and not on the sales as much, because it's not as comfortable to do the sales part. ⁓ So that's when you can kind of bring in support and help. And that's, think, where Sergei Pull: Yes.
Yes. Megan Driscoll: You know, one of the things that I love about the work that I do is I help companies develop sales strategies so that they can augment what they're doing and make it easier for founders and owners to get on the phone with people and not have to do all the work they have to get to to get to that point. So how do we engage people and do all that hard stuff? And then you just shine because where you shine, CEOs really shine talking about their business.
Sergei Pull: Mm-hmm. Mm-hmm. Mm-hmm. Megan Driscoll: Right?
No one sells the business better than the founder because you know everything about it and it was your idea and you're really excited. And, you know, so I think it's like, how do we put people, how do we put founders and owners in positions that best serve them, which is to be the for-person salesperson for at least, I don't know. I mean, depending on size of the business, I say the founder should stay involved in sales, you know, as long as they possibly can. It should be the last job that they push out, you know, basically an outsource to someone else.
So it's really helpful. Thank you for the course suggestion. Sergei Pull: Yes. Yeah.
Yes. Yes. Megan Driscoll: ⁓ Okay, so let's talk a little bit about ⁓ AI. So just generally speaking, how are you utilizing AI in this tech bio company that you have created?
What ways are you using it beyond what we talked about, which was for presentations and that kind of stuff, which I think is great. Sergei Pull: Yeah. Yeah. Yeah.
Yes. Yes. So there are two main buckets. Bucket number one, how we utilize AI to build our own product and our technology.
And this is where it gets a little bit more complicated. This is where my co-founder, who has IT and entrepreneurship and ⁓ experience of building complex automated data workflows. So this is where we're utilizing this machine learning, like computer vision technologies. And ⁓ later on, we will build what is called like adaptable and self-learning systems where we can help scientists to automate complex complex experiments and even series of experiments.
⁓ there is that operational level which is easier to understand and easier to apply for others. ⁓ Such as ⁓ indeed ⁓ we've been using it a lot for just simply ⁓ brainstorming and ⁓ generating hypothesis and selecting the best hypothesis and ⁓ improving the documents. I'm not native speaker of English. So for me ⁓ it is not only a matter of checking my grammar.
It's also checking the word choice, checking the order ⁓ of the sentences and checking the flow. ⁓ maybe my logic is great, but if I'm choosing the wrong words, like... There is no fix for it. I need to choose the right words.
⁓ so drafting and building documents, and ⁓ it can be document of any kind. It can be any visuals, like my slide decks. I can upload a couple slide decks and ⁓ ask some different questions. for today, we're using Google Workspace, and ⁓ Gemini comes with it.
So for Gemini, I can ask in this. presentation, which are the weakest slides? ⁓ This presentation is for this and for that purpose. ⁓ Or this presentation is for this or for that audience.
And I think... the path that a lot of people are now going through is learning how to prompt correctly because it gives you what you ask it for. You cannot just ask very general questions. You need to specify for whom is this document, at which level of competence those people are, how deep they are in the topic, or what should be your main message.
But I think it's judgment on what are my strongest or weakest slides, what I should improve, how I improve the order. it helps with the slides, it helps with the documents, you can feed it long texts. And ⁓ what we tried just recently is to use the systems which allow you to use extended context. So in Gemini, you can create something that's called Gem.
It's ⁓ like a ⁓ small environment, chat-like environment, where you upload a big overall prompt like, let's work ⁓ with principles and you can upload multiple documents and it can keep it all as a context for your conversations and another product within with Google workspace yes yes Megan Driscoll: Mm-hmm. And I'll interject here. You can also do that in projects in Chat GPT. So when you have a paid version of Chat GPT, you can start projects.
And that's where you can load up a bunch of information as like an origin story, if you will. And then you're utilizing that as the information you will then use to move forward on any prompt that you would have within that project. And it would be specific to that project. So yeah, keep going though.
Because I actually didn't know it was called Jam and Gemini. that what you're saying it's called Jam? Sergei Pull: Yes. Yes.
Yeah. Yeah. And the only reason... So they have two things, they have two options.
One is Jam, right there in Gemini. And the other one is called Notebook LM. a name, which you can feed more documents, and they have a little bit different architecture, those tools. We're just testing those.
But I know that Cloud, so Anthropic has a similar product for working with large context. And I think for everyone building business, it's nice to have some sort of a sandbox where, first of all, you don't interfere those conversations with AI with your household questions, like how I fix this lamp or how I fix this dryer and washer, I don't know. Because in the same chat you can have a mix of different things, questions about kids, questions about your car, but you might prefer to have this sandbox where there's a lot of context about your business and the system understands that its advice should not be, or feedback should not be general.
It should relate specifically to your business and to your situation. Megan Driscoll: Yeah, I've mentioned this in the past before on this podcast, and I think it's important that you've brought it up, and I think it's worth putting a point on this. As you said, it's not helpful, really, and it actually can confuse and can make working with ChatGPT or any of them, it doesn't matter which one. If you're adding, like you said, home questions, work questions, children questions, family questions, right, if you're integrating all of that, it Sergei Pull: Mm-hmm.
Megan Driscoll: you're creating an environment of generality, right? And it's remembering that you're generality. So it's going to be answering in the format by which you've used it, which is general. And so we don't want to do that.
So we want to be able to use these opportunities for segmentation, which again, in ChatGPT is projects. It sounds like it's Jam and Gemini. I'm sure they all have them. I really work a lot with ChatGP projects, and I'll tell you why.
Because I created an origin story, right? So I loaded in. Sergei Pull: Yes. Okay?
Okay? Megan Driscoll: every single thing that it needed to know about my business, everything, every document, everything I could put in, I put in there and said, this is my origin story, this is my company. I want you to answer everything I ask you about in this project based on what you know about me here. And so now I'm only gonna get answers that are based on that and it's not general.
So I do think it's really important for people to start segmenting out. They can either decide, and I know some people have done this, Sergei Pull: home. Yes. Megan Driscoll: I use Claude for home.
I use Notebook for this course that I run. I use ChatGPT for my business, right? So as long as you have different platforms that you're using or in one single platform, you're creating projects and making sure you're always prompting and asking within each project. So I do think that's a really good thing you mentioned and something I think for business owners to think about.
Sergei Pull: Mm-hmm. Yeah. Megan Driscoll: is having that segmentation because you're gonna get better answers and again, it's gonna learn faster and be able to provide more for you when you do that. So very helpful that you mentioned that.
Sergei Pull: Yeah. Yeah, thank you. And every time you still need to remind additional context like we building this deck for the customers or we building this deck for investors or we want to communicate with people who not deeply into our science then. Yeah.
Megan Driscoll: Yeah. And also you can say, this is my origin story. And this project folder is specifically to help us create messages for our clients. And this is our origin story.
And this folder is specifically to work through problems related to our employees. Right. And so you can get kind of even segmented from there and really kind of lay out. ⁓ And I also think it's the basis for starting a chat pod and for like, there's a lot of things that can happen once you have kind of these, these, Sergei Pull: Okay.
Yep. Mm-hmm. Mm-hmm. Yeah.
Megan Driscoll: operational systems almost within your chats to be able to give you that really key data and information. So I think it's great. So where do you think, so right now you're probably trying to raise money, I assume, always probably. That's the sort of.
Sergei Pull: Yep, always. That's a pass. Megan Driscoll: That's exactly. how are you?
So talk to us a little bit, I think there's a lot of, like we talked about, there's a lot of different ways that small businesses start, right? There's bootstrapped and people are starting them for themselves and they've got to get profitable because they're spending their own money to start them up. And then there's a venture backed. ⁓ And then you have PE backed.
But PE backed is usually, again, once you've kind of hit a certain level of EBITDA, which is profit, ⁓ and now you've gotten noticed by them and that's. Sergei Pull: Yeah. Yeah. Megan Driscoll: sort of the PE route.
to start, really talking about venture money, seed money, or you're talking about sort of like the traditional bootstrapping. So because you're venture backed, talk a little bit about that early start. Because I think this is interesting to people. I mean, I didn't start a venture backed company.
I started a company bootstrapped, and then I sold to private equity. So that's kind of the world that I live in or know about. But talk to us about what is the, how did it, how did that happen for you? So you have an idea.
You started thinking about it. You collaborated with a partner who brought additional set of skill sets, the two of you together. And I think sometimes that's a really nice way to start a business is when there's two heads together doing two separate things. Tell me about that, like when you went from idea to how did you go out to the market for venture money?
Like talk about that piece. Sergei Pull: Okay? Okay? Okay?
Okay? Yeah, so I would say that you explained it very nicely and very simply. In reality, it was way more complex. I started with one co-founder, it did not work out.
I tried to join another co-founder, it did not work out. So with TeamFA now, eventually, I think we are an amazing team, but it's not something that comes as given. I know that... Co-founder relations is like the key for building a sustainable company and many companies just fail because co-founder relations fail.
And we started to work about a year ago only. How to start a venture-backed company? I actually did not raise venture money yet, and we only raised some pre-sit checks from Angels and Network. ⁓ But the general idea of starting venture-backed and venture-backable company is the same.
⁓ It's an idea of you building like a puzzle of things that work for venture. So things that work for venture is Your technology should be at least 10 times better in doing some certain thing. ⁓ It is... Yes.
Megan Driscoll: So have to show, so to interject, have to show that it can ⁓ do something a lot better than what's currently available or what's generally speaking being used. Okay, you have proof of concept in some way. Yep. Sergei Pull: Yes, yes, yes, yes.
And you need to have proof of concept in some way, of course. And ideally you have some IP protection for this. there are some software companies, yes, yes. Software companies sometimes they don't even need that and AI companies don't even need that.
But in their case, they need to build very strong traction. Megan Driscoll: Okay, so the next is making sure it's protected and it's not something that someone else can go steal. tap to do, that's great. Sergei Pull: and very strong belief of their investors in their opportunity to ⁓ build something really big.
So the idea is that your investors, your preceding investors should... ⁓ like rationally say that, yes, we have a chance to make 20x or 50x of our money if you put money here or we lose all of them. And we find with that because it's like minus one or plus 50 through somewhere in the middle. But many companies fail.
And I think there are ⁓ two mindsets simultaneously in our society. One mindset is that or most of the startups fail, let's not fund them, it's too risky. And in reality, it's not like nine out of 10 fail. It's absolutely not.
We can go and ask ChetGPT and the most advanced versions of AI, like how many companies that begin, ⁓ like survive one year, two years, three years, five years, and it's not that bad. ⁓ at least companies who survive two or three years, the death rate ⁓ for them. is already significantly lower. ⁓ At the same time, ⁓ there are people who are very excited and they believe in startups.
And of course, the reality of building a startup is harsh and the reality of investing in startups also is harsh. So professional angel investors, they invest very rarely. You can talk to so many, they have huge deal flow, they ⁓ need to see you as one, the best company out of 100. When you approach your network, for them it's like just one company that I have heard of around, which is just appearing out of nowhere.
I knew this person, I think they can build a company. Okay, let me try my chances. So this is how I see that it's like, it's in the copy books, like try to raise from the network before you go to raise from venture capital. And this is how...
you ⁓ ideally you invest a little bit of your own money and raise a little bit of your friends money so everyone can see that you have skin in the game you have ⁓ you invested your reputation ⁓ and invested your both business and professional reputation into building this thing ⁓ but ⁓ venture backable companies there are many ticks in the boxes that the firm that fund needs to put and it's like It's separate layer of science. And here I will refer back to Y Combinator startup schools.
They give very good, like, two-week course on that. But then any layer, it's like books and books of learning. It's tons of learning about it. Megan Driscoll: Yeah, it's great.
And I think you've said it right there, right? So think the key is number one, ⁓ you have to have a viable product. So there has to be a proof of concept that what you have developed, whether it's a service or product, is better than what's out there on the market and ⁓ can make the world a better place, reduce time, right? Whatever it is, right?
That there's value. Number two, I think a really strong management team. So the founders. Sergei Pull: Yes.
news. Yeah. Yeah. Megan Driscoll: ⁓ Know what they're talking about.
They're working in the business. They're not like professional CEO people But they are people who are actually doing the work and understand the business have come up with it themselves and present it in such a way That is clear, right? Number two skin of the game or number three skin of the game, right? So you have bootstrapped it yourself just to kind of get it off and running and show a proof of concept I also think the fourth thing is market so that you're able to identify what the market is for your product because you can have a product that ⁓ and again, this is where I think Sergei Pull: Yeah.
Megan Driscoll: Altruism comes in, right? We have all these orphan diseases and nobody wants to spend any money on them because there's no return on the investment, right? The market just isn't that big for these people. And yet the cost is really, so I love companies that work in orphan drugs because you know, they're not really in it to make any money ultimately.
It's just a lot of research that doesn't go anywhere. So likewise, the market's really important. So how big is the market that you can sell it to? Because if you've got something that saves time and saves money and it's really good, you know, Sergei Pull: I know.
you. Mm-hmm. Megan Driscoll: proof of concept, but there's not a big enough market, then you're struggling there too. So I think if you have those kind of four components in place, ⁓ I think that venture-backed is a really great way to start and do it.
How are you reaching these venture-backed organizations? How are you reaching out to VCs? What's your process for that? We talked a little bit about this before, but...
Sergei Pull: So ⁓ it's very funny for me to reply to this one because ⁓ I did not try to systematically reach VC people. I talked to a few friends who happen to work in venture capital and they explained to me what kind of traction I need to build before really approaching VCs. And I think that for me, the right time to approach VCs will be maybe... ⁓ in a few months from now, but not even today.
So ⁓ there are very few funds which ⁓ like to invest ⁓ below, let's say, one, two million dollars. because there is some certain type of math for the funds to exist. And earlier it was a math that the fund shouldn't be smaller than 50 million. Today it's rather 100 million because they have some internal operations, they have some fees, and they have this like, it's a type of business that works best starting from some scale.
And then, you have those emerging operators, emerging funds. They can have smaller funds. They have $1 million, $5 million, $10 or $20 million fund. But for them to have this statistical distribution, to have one winner company out of 10 or out of 20, they have to mathematically have smaller check size.
And when they have smaller check size, ⁓ they can participate in ⁓ the big deals because when their check is 5 or 10 percent of the total raise No one wants to see them as a partner because they are insignificant in that race. So they help people to raise pre-seed. What's called pre-seed is today anything below one or two million dollars. That's called pre-seed.
But unfortunately, because of funny, like math working best for the bigger funds. There very few funds like this. But with them, I did ⁓ consistent reach. I had many conversations.
I have them in our pipeline. But ⁓ there, we also have another interesting, again, of ⁓ feature of today's fundraising market. ⁓ Because for them, ⁓ raising money also has been so hard. they are extremely worried about losing the money.
And they are emerging operators, so they are likely thinking of how do we make this venture bad, but still it has to be kind of safe. So they are trying to find the companies that build almost the sea level traction, but still raising the pre-sit round. I hope I'm explaining it well. Am I?
Yes. Megan Driscoll: Mm-hmm. Yeah, I mean, I think I know where you're going with this, sort of. ⁓ Sergei Pull: Yes, like let them have already some paying customers and they kind of ready to go and raise their five million, but let's come maybe a few months before ⁓ and let them help them survive.
And then we invest and get two, three times more shares per dollar compared to the bigger fund. I apologize. My kid came and joined our conversation. Megan Driscoll: Yes.
Yep. Yep. I love that. No, I love that.
Yeah, think that the whole process of, you know, it's a thing that comes up, right, with every business owner is how are we going to survive? Where are we going to get the money from, right? Is it coming from our own pockets? Is it coming from our family?
I think that it's really hard for people to ask their family and friends for money. You know, there's a lot on the line, obviously, when you do that, which again, is that skin in the game, right? When an investor or VC firm sees how much money you've raised from yourself and family and friends. Sergei Pull: But he's very quiet, so he's just sitting quietly.
Yes, yes, yes. Yeah. Yes. Megan Driscoll: and angel investors, they know that you've got skin in the game because you're basically on the hook for a return to your family and your friends and yourself.
So I do think that that actually, it is a very ⁓ indicative of someone who's very entrepreneurial and willing to do that. And that's why a lot of businesses don't do it, right? A lot of businesses decide they're going to fund it themselves or get a loan and do it themselves so that they're not on the hook for that stress. So I appreciate the effort that it takes to sort of do a Sergei Pull: Yep.
Yep. Mm-hmm. Yes. Yes.
Yep. Megan Driscoll: to start a company with that in mind, knowing that you've got to really hustle. It's a hustle, basically. You're using someone else's money, but it's a hustle.
So I appreciate all the effort that you're putting into that as you approach this next stage of funding. okay, so tell me a little bit about, we've got a couple of minutes. Tell me a little bit about where you think AI will fit into your business as you grow. Like, what are some things that you're thinking about using AI for and like, you know, some things that are on the table?
Sergei Pull: Yes. Yeah, and as I said, there are two dimensions to it. One dimension is how it incorporates in our product. And our product should be that physical AI for biology should be the machine that is thinking, adapting to the experiments that it runs, controlling all different ⁓ like measurements or whatever it can sense.
It's not only vision, it's vision, it's temperature, it's timing and everything, everything and adapt. Yes. if, for example, humans, when we run experiments in the middle of experiment, if something goes wrong, I see some precipitate in my tube. I just abandon it.
I say, ⁓ wow, something went wrong. I don't want to waste more resources and don't want to waste my time. I'll restart it tomorrow. Machines to Megan Driscoll: It's next level automation, ultimately.
Sergei Pull: they most of the time they can't make such decisions. yes, intelligent decision making in the product, that's very important. And for us, when we're growing, that's one of the reasons I also believe that everyone who is investing, including the funds, should consider that even for the hardware companies like ours, ⁓ I think that sales growth dynamic that we can achieve in AI era is completely different from what we saw before. when people are comparing, yeah, what I mean by that, like you remember how internet grew, then how companies that built on the top of internet grew, right?
They grew even faster. Like, ⁓ Megan Driscoll: What do you, yeah, tell me more about what you mean by that. Sergei Pull: App Store applications they were like ⁓ within the week we got million downloads and they making tons of money out of it and and then now we have AI and ⁓ The profits of open AI grew like I don't know like hundred times in four in first four months something like this I don't want to put it wrong, but it was faster than everything else. We saw in the history So now I think that when people are making their purchasing decisions regions.
with a very smart advisors next to them, which are their AI tools. Now they can look at all competitive landscape for all the products that solving their problem. And if they finding the products that are 10 times better, they will always choose that product. That product may spend so much less for marketing.
So probably less marketing, less ads, less spam emails, but more of a clear communication of the differences and the functional output of a product and if it's out there it's created by AI tools and delivered as a suggestion by AI advisors and therefore I think that very successful products soon they can very much decrease the customer acquisition cost. And ⁓ it is still a little bit of a promise of AI era. But I think that for us, maybe we will have AI-driven sales department or sales agents or agents doing this and that.
But who knows? we are absolutely, if you're absolutely lucky, we don't even need that because ChetGPT will be suggesting our tools for people who need a new fully automated microscope and Megan Driscoll: You will. Sergei Pull: and they will be clicking the link and coming to our website. That's my dream.
⁓ Megan Driscoll: You it's really interesting you mentioned this I had on the show two weeks ago and you should listen to it. ⁓ It's a guest who developed the basically recognized that the way in which ⁓ AI is determining the validity of a company is the opposite of the way you would do it in a Google search on the web. And that the it's actually the old is new. So it's more valuing the better business bureau recommendations or reviews on trust pilot.
Sergei Pull: Yeah. Yes. Yes. Megan Driscoll: It's going to like those core function things that we did 20 years ago, right?
And now those are coming up as reasons to suggest. And so it talks about, they actually have a tool that you put your company in and it will tell you where it ranks essentially within AI as that search really. And so there's going to be, know, SEO is dead kind of thing. Like that basically there's new SEO for AI, which is just based on a totally different set of algorithm, a totally different plan.
Sergei Pull: Yes. Mm-hmm. Yeah. Megan Driscoll: And so the people that can figure out that are the ones that are going to rise to the top because they're going to be the recommended product of the future and unlike anything that we've seen before.
So it's interesting you said that because you should listen to the conversation I had two weeks ago. You did. Sergei Pull: Yes. I actually watched that one.
I watched that one while I was preparing. Sometimes I make long drives and I was like, I want to hear some of the Megan's conversations. And I really liked that. I thought, okay, I need to ask my first customers to leave me good reviews on Google Maps.
Megan Driscoll: Yeah. ⁓ good. Yeah. That was a good one, right?
That's right. mean, I really, it kind of blew my mind because it was actually, I hadn't really been thinking about this. Like you brought it up, but I hadn't really been thinking about this concept that we are about to open into a new era of like, everything is really changing. Like, like everything is on the table to be changed, which I think is scary and also really exciting, you know?
And so, yeah, it was an interesting conversation, but. Sergei Pull: Yes. Yeah, yeah, yeah. It's like new transparency in the huge available context.
Because before it was impossible to very strongly evaluate the context. Now AI is doing it for all of us. Megan Driscoll: Yes. Exactly.
Yeah, so true. Well, it has been awesome having you on today and talking about your business and talking about AI. Thank you so much for coming. Where can people find you if they want to learn more about your business or more about you?
Sergei Pull: Yeah, so the best way to find me and communicate with me is my LinkedIn. I'm a huge fan of social networks. I'm reading all my messages and even spam messages. I read them to understand how not to do cold outreach.
So send me message, connect with me on LinkedIn. No need to follow. ⁓ I'm trying to post interesting stuff, not interesting only for Megan Driscoll: Exactly. Sergei Pull: immunology professionals, but also for people who are curious about new technologies of curing cancer, like cancer vaccines or cell therapies.
And I'll be happy to connect. Megan Driscoll: Amazing. So it's Sergey, S-E-R-G-E-I, and the last name is Pul-P-U-L-L if you're listening and not watching. So Sergey, thank you so much for coming.
I really appreciate it. It's been a great session. I really wish your business much success. Sergei Pull: Thank you so much, Megan.
Thanks for having me. Bye bye.
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