Marketers of Technology
00:06:39 · Jason Alafgani, Andres Figuera
[00:06:39] S0: Yeah. They can be almost, almost certain. There's usually like a progression to how new clients start. So when you initially build something, you will test it. So it shows you what it would have done based on the agent that you've built, what would it do if this were live data. So then you can just sort of feel good that, okay, like this would have gotten it right. Then you put it in... Into production. Sometimes people will do like a a one off run. Like there's some set of work. Let's say there are just these 100 forms that need to be processed. Let's start there and see how it does. And then they see that happen, and they're like, oh, wow. That worked perfectly. I'm happy. Or they see that there is a edge case, like, you know, the agent wasn't sure about what to do in a certain case, and then that gets flagged to a person, the person reviews it, then the person's answer then gets incorporated back into the sort of the agent's rule set. And then once people feel good about it, then they hit, you know, then they fully run, and then they stop coming to the platform. They stop checking it. We have firms that have been running for over a year that have, like, stopped logging into the platform, and work is just fully automated. So those are pretty wild. Just like [00:07:49] S1: That is so cool, man. And how old is Caddi as a company? Because I know you're there since April, but how old is the company per se?
00:07:49 · Andres Figuera, Jason Alafgani
[00:07:49] S1: That is so cool, man. And how old is Caddi as a company? Because I know you're there since April, but how old is the company per se? [00:07:55] S0: Caddi is a roughly two years old, started in law firms, and over the last year has been in wealth management firms. Traditionally leaned more enterprise in both of those spaces. So Amlaw 100. So the 100 biggest law firms in the country and probably the 100 biggest RIAs in the country or investment advisers. [00:08:14] S1: Wow. And due to the regulated nature of these industries that you work with, do you only serve companies within The US or do you also work with other regions around the world? [00:08:25] S0: Just like for our own kind of business focus, we focus on The US and we focus on those two industries. But some of these companies are international, and as a result have footprints around the world. But our business focus is just, is on The US. [00:08:39] S1: Understood, understood. And now Jason, talking about more of, for example, demand generation, how are you being able to get companies to get to know Caddi, understand what you guys provide and really know the service you're offering so that they understand that they might need you guys so that you can really make their lives so much easier.
00:08:39 · Andres Figuera, Jason Alafgani
[00:08:39] S1: Understood, understood. And now Jason, talking about more of, for example, demand generation, how are you being able to get companies to get to know Caddi, understand what you guys provide and really know the service you're offering so that they understand that they might need you guys so that you can really make their lives so much easier. [00:08:58] S0: Yeah, I think the kind of the nature of our demand, especially in the AI space evolves every three months because like the thing that everyone is thinking adapts so often. So we remember, you know, a year ago, people in law weren't sure about AI. And they were like, you know, we're gonna take one bet on AI, and it's gonna be, you know, the biggest AI tool in in law is something called Harvey. And back then it was like, do we do this? Do we not? But then quick things quickly changed. And then it's like, okay, we're all going to do AI. Why aren't you doing more of it? And then sort of the current zeitgeist is like, we've done a lot of AI. Where is the ROI? So every one of these eras has like a different value prop and pain that we have to resonate with. So we have to adapt and make sure that our solution and our vision kind of stays the same, but how we present it to people and the pains that we position towards kind of change as the market evolves. [00:09:55] S1: And what channels have worked best for you when trying to pinpoint those pain spots that people may have, or that the companies they don't know that you can help them with? Like what has been what works the best for you?
00:09:55 · Andres Figuera, Jason Alafgani
[00:09:55] S1: And what channels have worked best for you when trying to pinpoint those pain spots that people may have, or that the companies they don't know that you can help them with? Like what has been what works the best for you? [00:10:07] S0: So far the best channels have been events, outbound, and SEO web for inbound. So sort of a inbound, outbound, and a little bit of events, which I guess is in a way outbound. But then you have a booth, it's kind of like inbound. But, yeah, those three would probably be the best. [00:10:26] S1: I can't imagine why events would be like a really good sweet spot for you to obtain clients and people to actually get to know and trust you guys because the nature of the industry, I feel it's very orthodox in a certain manner or very traditional. So you gotta go and shake people's hands, look them in the eye and say like, hey, we're here to help you and this is how we can help, but not just a regular email, think, would do it.
00:10:26 · Andres Figuera, Jason Alafgani
[00:10:26] S1: I can't imagine why events would be like a really good sweet spot for you to obtain clients and people to actually get to know and trust you guys because the nature of the industry, I feel it's very orthodox in a certain manner or very traditional. So you gotta go and shake people's hands, look them in the eye and say like, hey, we're here to help you and this is how we can help, but not just a regular email, think, would do it. [00:10:48] S0: Totally. And I think with with AI, I mean, as we're like kind of what we're talking about, if it gets easier and easier to do things, then competition is going to keep doing these things. And as a result, you have to differentiate yourself. And, you know, if everyone can send the right email, you know, worded person... You know, people love to say personalized email, even though, like, AI is sending tens of thousands of these personalized emails. But doing the things that others can't do or others won't do is certainly always critical. And events is one of those things where you can only fit so many people into a conference at once. [00:11:24] S1: Oh yeah, I imagine. And now that you mentioned that, like when you said the word competition, that reminded me of something else that I wanted to ask, and that is, do you feel that you guys are in a very saturated market? Like, do you have to compete with many companies that are also offering the same thing to these law firms and wealth management funds?
00:11:24 · Andres Figuera, Jason Alafgani
[00:11:24] S1: Oh yeah, I imagine. And now that you mentioned that, like when you said the word competition, that reminded me of something else that I wanted to ask, and that is, do you feel that you guys are in a very saturated market? Like, do you have to compete with many companies that are also offering the same thing to these law firms and wealth management funds? [00:11:40] S0: I think initially, initially I would say no. I think, we are sort of a novel approach. And I've heard this metaphor be used before for startups, and that's that everyone is flying like a little Cessna plane and they're going to wherever their destination is. And the odds of you hitting another Cessna plane going into a similar space is tiny, right? There's so much airspace. But the hard part is now with AI, everyone can build everything. And as a result, a lot of players that would have been in their own space and would have stuck to that space and been focused on that space are now being pushed by their investors, their boards, their leaders to be more AI and do more things. So what's funny is it's almost like there's less competition from, We don't feel there's competition from other startups per se, but there are... There is competition with other players in the market that are like just in that same space and are looking to expand their, you know, product portfolio to new things.