Today, I’m joined by Monique Woodard, the Founding Partner and Managing Director of Cake Ventures. Cake Ventures is a pre-seed and seed venture capital firm investing in companies that touch areas of demographic change including aging and longevity, the increased spending power of women, and the shift to majority-minority. A Forbes article published on Jan 12, 2023, claims that Cake Ventures has closed its debut fund at $17 million dollars. Monique was previously a Venture Scout for Lightspeed Venture Partners and a Venture Partner for 500 Startups.
On November 30th, 2022, ChatGPT was released to the world. ChatGPT, a large language model (LLM) developed by Open AI, quickly went viral in days, crossing over a million users within a week of its launch. The growth is unprecedented; it took 10 months for Facebook to reach a million users and 24 months for Twitter to hit the same metric, whereas ChatGPT arrived at a million users in just 5 days.