New year experiment: replacing LinkedIn with AI in my workflow
Jobs to be done: B2B networking, content marketing and recruiting
I initially saw social media as a potentially useful tool, but I’ve come to believe that its benefits are largely one-sided, favoring the platform rather than the user. I’m also beginning to question its continued value for businesses, using LinkedIn as a case in point. To provide a comparison, I’m developing a new approach for 2024 and beyond, which will leverage AI technology.
Background
I became a LinkedIn member in Q3 2008, but only started actively using it in Q4 2013. During the early active days, LinkedIn became a key resource for me, enabling many online-to-offline connections. A notable instance from 2013 was when a LinkedIn connection helped me assemble the right team and find the perfect buyer for our products. This single connection led to around $10 million business transactions.
When I became a venture capital investor in 2015, I aimed to maintain an accessible LinkedIn profile to facilitate communication with entrepreneurs and share insights within the network. I also saw value in producing and consuming venture capital content and found LinkedIn to be an effective space for promoting our offline activities. However, it was less successful in generating interest for online-only content such as blogs. I was aware that LinkedIn might not be an effective source for deal flow. This assumption has been confirmed, as none of our investments have originated from social media.
In my recent role as a startup builder, I’ve found LinkedIn to be a considerable drain on my time. I’ve come to realize that making connections at events and trade shows and nurturing those relationships through non-social media tools is more effective, as these platforms can be too noisy. LinkedIn also falls short when it comes to new investor connections since these type of relationships come through warm intros and are built over time, so the online to offline model doesn’t really work here. One significant drawback of LinkedIn is its increasing use as a rapid judgement tool, which can lead to biases. I admit that I’ve fallen into this practice as an investor and observer of other people’s work. This tendency can create a gap between the actual quality of a company or professional and the image they project on LinkedIn.
Data-driven LinkedIn usage
In June 2021, I began a practice of quantifying my LinkedIn activity to evaluate its value. At each quarter’s end, I would transfer my activity data to a Google Sheet and rate new connections based on the likelihood of future mutual benefit, informed by any existing interactions. I used a scale from zero (most meaningful) to seven (least meaningful). I then used a combination of quantity (number of new connections made during the quarter) and quality (ratio of ranks 0–3 to 4–7) metrics to evaluate that quarter’s activity. If I managed to exceed my own high bar for these ratios in a quarter, I would label that quarter as “target met”. Since 2008, I’ve met the target in 9 quarters, six of which were between 2013–2016 and three in the last five quarters where I’ve scrutinized my LinkedIn activity more closely. I don’t count the first three quarters as true targets met, as they were largely due to activity momentum and connecting with existing offline connections on LinkedIn. The next three were due to the momentum as an investor where the market was welcoming a new investor to the global Iranian startup ecosystem. The most recent three quarters are the result of my social media discipline. It’s rewarding to reflect on this data and assign meaning to them.
Next steps
Given this baseline, I am planning to replace my LinkedIn activities (B2B networking, content marketing and recruiting) with AI tools over time. I’ll continue to post my learnings and comparisons online and welcome you to accompany me on this journey with your comments!
This is a post about ecosystem resources which was also posted on Medium to benefit global entrepreneurs. If you’re building a global startup or have global aspirations, get in touch. Email me at mk@gex.vc or leave a comment if you’d like to exchange ideas.