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ChatGPT Wrapper making $500K ARR (formulabot.com)
1 points by sidjainla 697 days ago
1 comments
sidjainla 697 days ago
According to the creator of this saas tool, it's making $500K ARR:

https://x.com/bresslertweets/status/1803832761427353744

https://formulabot.com/generators

It's a text input field that sends your input to the ChatGPT API and spits out ChatGPT's response.

To all the entrepreneurs out there - why do you think customers are paying for this when they can just log into ChatGPT and get the same functionality?

I feel like we throw away so many business ideas because they already exist or there is 0 moat/ differentiation.. so I'm always pleasantly surprised when I see companies like this succeeding.

Thoughts?

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mtmail 697 days ago
He doesn’t say it’s per year, does he?
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sidjainla 696 days ago
Good catch -- you are correct, I assumed its ARR but it very well could be total revenue. Either way, it's impressive for building something that already exists and has 0 moat or differentiation.
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colesantiago 697 days ago
Goes to show that there is always someone in the market that wants to pay for anything, even if it's a grift.
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sidjainla 696 days ago
Also, it shows that the "silicon valley advice" of needing a "moat," and "defensibility" is not always a good way to think.

I'm seeing so many bootstrapped solopreneurs making insane amounts of money with tools that are so simple, and have zero moat or differentiation.

Also, I'm noticing that focusing on a niche and dominating a marketing channel to that niche is more important than product.

Let's take todo list apps for example. As a developer, the idea of building a todo list app feels dumb. Why would any one need yet another todo app?

But... imagine if there is a niche, like wedding planners, who have a specific workflow that isn't properly address by existing todo list apps...

... and you build the best UI for wedding planners to manage their todo list

... and you partner with some tiktok influencer to promote your app to wedding planners.

You might just make a million bucks by literally making "yet another" todo app.

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