An article by ChatGPT
Every few weeks we get an urgent email asking for help from a
company that is in dire straits. Of course some of these might be
scams, but for the most part, we have found them to be real. And for
the most part they are about to run out of money, get taken over by a
loan they cannot pay off when called, or otherwise lose years of
effort and investment. And there is always a financial basis for the
Time is of the essence
In responding to their queries, the first worst indicator of their
situation is how much time they have to go. In the business we often
call this "runway", as in when you run out of it, you crash and
- Less than 30 days: If you have less than 30 days to go
before you crash and burn, there is really only one option. Call
Ralph. Ralph is our guy who can Find Funds Faster. We have worked
with Ralph for several years and he is sort of the court of last
resort for the need cash now crowd in companies (as opposed to
individuals with structured settlements and the reverse mortgage folks
you hear about on the commercials).
- From 30 days to 6 months: Here's where things get dicey but
can be done. In 30 days we can usually help you get into a stasis mode
where you burn far less cash and do far less business while we figure
out how to get you out of it. Along the way we can also start you into
our Investor Push program and help you restructure things to survive
for the next several months as we get you back up to at least 6 months
of runway with a plan that keeps you going and helps grow your company.
- 6 months or longer: Ideally, this is when you contact us.
It allows us to help grow your company with proper financial
engineering so you don't run out of cash and crash.
But that's not what this article is about.
The ChatGPTs of advisory services
So naturally, or rather artificially, I asked ChatGPT to provide
some assistance on this point... I provided the above portion of this
article to it as context. It suggested, after some regurgitation of
what I said to it:
...Many business leaders may not know where to turn for help or
may not be familiar with the different types of financial services
that are available to them. ...
So I asked "What are the "different types of financial services
that are available to them"?" in reference to the previous response.
And here is what it said:
There are a wide variety of financial services available to businesses, including:
- Financial planning and analysis: This service involves creating a
financial plan for the business, analyzing its current financial
status, and providing recommendations for improvement.
- Corporate finance: This service includes assistance with raising
capital, such as through issuing stocks or bonds, and managing the
company's financial assets and liabilities.
- Risk management: This service involves identifying and assessing
potential risks to the business and developing strategies to mitigate
or manage those risks.
- Mergers and acquisitions: This service includes advising and
assisting with the buying, selling, or merging of businesses.
- Investment banking: This service includes underwriting and
issuing securities, as well as providing assistance with mergers and
- Tax planning and preparation: This service includes helping the
business plan and prepare its taxes in an efficient manner, to
minimize tax liability.
- Treasury and cash management: This service includes managing the
company's cash flow, currency risk and short-term investment of funds.
- Audit and assurance services: This service includes independent
examination of the company's financial statements, to provide
assurance that they are accurate and complete.
- Restructuring and turnaround: This service includes advising
companies that are experiencing financial difficulties, and helping
them to restructure their operations and finances to return to
It's worth noting that these services can be provided by various types
of professionals, such as accountants, financial advisors, investment
bankers, and management consultants.
In other words, worse than useless drivel
When it comes to giving good advice, conversational AI sucks. In
fact, when it comes to giving any advice, this crap only goes one
level deep. It has no concept at all of what the actual subject matter
is. And that's the point.
That's how it works - and nobody who knows disagrees
To be clear, anyone who knows anything about AI, and in particular
the conversational AI we see so dominantly present today, knows that
it indeed has no concept at all. Of anything! There are no "concepts"
involved in current conversational AI. There are just various forms of
regurgitation. And that can look like know-how until you actually try
to test it.
The US Federal courts identify experts as having knowledge,
skills, training, education, and/or experience relevant to the matter
at hand, and more so than that of the triers of fact (e.g., the
jury/judge). Another way I put it is that the definition of an expert
is someone who knows more than you do about it.
We rely on experts to advise us on important things. As we see you
should not rely on conversational AI of this sort for anything
A call to action
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