Latest news with #WayneLiu
Forbes
9 hours ago
- Business
- Forbes
The Dupe Unicorn: The Rise Of Lean, AI-Powered Startups
Wayne Liu is the Chief Growth Officer and President of Perfect Corp America. Venture capital has entered a new era of constraint. According to EY, a $40 billion AI transaction helped prop up venture capital numbers, but without it, funding would have seen a steep 36% drop—and the overall volume of deals continues to shrink. Megadeals like this are now the exception, not the norm. Yet amid this pullback, one sector continues to surge: artificial intelligence. AI-related startups accounted for 33% of all VC activity in 2024 and show no signs of slowing. The unicorn model may be fading, but something smarter is rising in its place. According to Crunchbase, IPO activity has flatlined, with hundreds of companies still in the pipeline; many from the unicorn class of 2021 and 2022 are stuck without an exit in sight. At the same time, traditional venture capital is morphing into something more conservative. As Bloomberg recently reported, firms like Lightspeed are shifting away from the classic VC model, increasingly behaving like private equity players focused on capital efficiency and profitability. In this environment, the billion-dollar unicorn model, the holy grail of startup success for decades, no longer feels viable for many founders. The good news? There seems to be something new taking its place. From the wreckage of the old growth-at-all-costs model, a new breed of startup is emerging: lean, AI-powered and profitable, which is what I refer to as the LAP model. These founders aren't scaling head count or chasing inflated valuations. Instead, they're building lean businesses with small teams, using open-source large language models (LLMs) and AI tools to automate tasks ranging from customer service and content creation to coding and strategic decision-making. In some cases, they're even replacing expensive consultants with AI agents that can perform real-time market analysis or draft legal documents. Recent research shows that AI startups are achieving revenue growth at a pace that significantly outpaces traditional tech companies. Their ability to reach customers faster, automate internal processes and scale with minimal human overhead gives them a notable advantage, especially in a market where efficient monetization has become a survival skill. I call these startups "dupe unicorns." Much like the consumer trend where savvy shoppers seek affordable "dupes" of premium products, today's smartest founders are creating companies that deliver the value of unicorns without the overhead. They may not have massive valuations but offer real utility, faster execution and sustainable business models. In beauty and fashion culture, a "dupe" (short for duplicate) is a lower-cost alternative to a high-end product that offers similar benefits. Crucially, a dupe is not a counterfeit; it doesn't pretend to be the original or infringe on intellectual property. Instead, it's a smart substitute: an independent product that delivers comparable results, often at a fraction of the price. On platforms like TikTok, dupe culture is a celebration of value, discovery and democratized access. Apply that to startups, and the metaphor becomes powerful. A dupe unicorn isn't a knockoff of a legacy tech giant. It's a next-gen business that mimics unicorns' performance, innovation and market traction but with leaner resources, smarter automation and sharper focus. I've seen this shift firsthand through my work advising university accelerators and incubators. Founders today aren't waiting for large teams or fundraising milestones. One founder built an AI-powered video analytics system for sports, helping coaches with limited staff make better decisions. His tool rivals those used by elite organizations at a fraction of the cost. Another, frustrated by traditional market research, launched a generative AI search engine using open-source models, making real-time consumer insights as intuitive as a Google search. A gamer trained a translation engine for cross-border multiplayer sessions, optimized for speed and slang. A marketer developed an AI content generation tool to produce campaign materials, social posts and email copy all from one interface, bypassing costly agencies. It's a new kind of builder mindset: practical, fast-moving and unburdened by the myths of needing massive teams or massive rounds to make an impact. Having helped build my company from seed stage to IPO over nine years, I've lived through the unicorn arc. I know the exhilaration of hypergrowth and its weight. That perspective has sharpened my appreciation for what these new AI-native startups are doing. Here's what I believe founders should embrace now: 1. Design AI-inclusive models from day one. Use AI not just to optimize, but to reimagine your business's foundation. Ask yourself: What can be automated, personalized or accelerated from day one? 2. Run lean with intentionality. It's not about avoiding people; it's about sequencing. Use AI to build early momentum and add team members when human creativity, trust or judgment are truly needed. 3. Speak to the new consumer journey. Gen Z and Gen Alpha founders already get this. The customer journey is no longer a funnel; it's dynamic, nonlinear, shaped by TikTok trends, AI recommendations and immersive technologies like AR glasses. Your go-to-market strategy needs to flow with that reality, not fight it. 4. Prototype, learn, repeat. Founders can now test a new idea, build a landing page, generate content and gather user feedback all within a weekend. Use that velocity to your advantage. 5. Prioritize profitability without compromising vision. Capital efficiency is a competitive advantage. Let profitability guide your build decisions. A good business model should sustain you, not distract you. The unicorn isn't dead but evolving. In today's climate, founders don't need a million-dollar funding and a 30-person team to build a game-changing company. Sometimes, all it takes is a strong idea, a solid AI stack and a sharp understanding of your customer's real need. The dupe unicorn is not a compromise. It's a smarter model for a smarter age, rooted in innovation and built to last. In the age of capital discipline, the LAP model, lean, AI-powered, and profitable, may well become the blueprint for the next generation of breakout startups. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Business Wire
07-05-2025
- Business
- Business Wire
Perfect Corp. Announces Upcoming Thought Leadership Events Including 2025 Global Beauty and Fashion AI Forum
NEW YORK--(BUSINESS WIRE)-- Perfect Corp. (NYSE: PERF), the leading AI and AR beauty and fashion tech solutions provider, is excited to announce a dynamic lineup of upcoming thought leadership events in New York: The 2025 Global Beauty and Fashion AI Forum, taking place September 16 th at the Metropolitan Pavilion, 125 W 18th St, New York, NY 10011 The Beautiful AI Luncheon, hosted May 20 th at the New York Stock Exchange, 18 Broad St, New York, NY, 10005 Both events will convene industry leaders and innovators to explore how AI is transforming every aspect of the consumer journey from skin diagnostics to content generation, and how brands can future-proof their strategies in an AI-driven world. 2025 Global Beauty and Fashion AI Forum The flagship Global Beauty and Fashion AI Forum will bring together top experts and visionary brands across beauty, fashion, skincare, medspa, and dermatology to explore the most transformative AI breakthroughs shaping the industry today. Attendees will discover how brands are using AI to enhance customer experiences, simplify services, and create hyper-personalized shopping journeys that resonate with the modern consumer. This one-of-a-kind event offers the opportunity to network with industry pioneers, explore cutting-edge technology, and walk away with real-world strategies to thrive in an ever-evolving digital landscape. From AI skin diagnostics to personalized recommendations and immersive try-on experiences, the forum will highlight powerful case studies and tangible innovations from the brands redefining beauty and fashion in 2025. 'We are thrilled to convene the brightest minds and most innovative brands to explore how AI is redefining beauty and fashion,' said Alice Chang, CEO and Founder of Perfect Corp. 'These events are designed to inspire, educate, and spark new ideas as we all work to create more intelligent, personalized, and impactful consumer experiences.' Early bird registration now open: To inquire about speaking or sponsorship opportunities at the 2025 Global Beauty and Fashion AI Forum, please contact_event@ Beautiful AI Luncheon at NYSE In advance of the Forum, Perfect Corp. will host an exclusive Beautiful AI Luncheon at the New York Stock Exchange on May 20th, 2025. The luncheon will feature a fireside chat between: Wayne Liu, Chief Growth Officer & President at Perfect Corp. Raheel Khan, SVP of Foresight & Growth Intelligence at The Estée Lauder Companies. Together, they will dive into how AI is transforming beauty from internal workflows to personalized digital experiences, and what brands must do today to prepare for the future. This exclusive event will also feature industry insights from Anna Mayo, VP of Beauty Vertical at NielsenIQ. Mayo will explore the dramatic shifts in consumer behavior and shopping habits reshaping the beauty and personal care space in 2025. Space is limited. To register for The Beautiful AI Luncheon, please reach out to contact_event@ About Perfect Corp. Founded in 2015, Perfect Corp. (NYSE: PERF) is on a mission to make beauty smarter, more personalized, and more fun through Beautiful AI. As a global leader in AI and AR-powered beauty and fashion technology, we help brands and consumers connect through immersive, interactive digital experiences. With cutting-edge AI solutions, Perfect Corp. powers iconic virtual try-ons across makeup, hairstyles, eyewear, jewelry, watches, and fashion accessories, along with advanced AI-driven analyzers for skin and hair that provide real-time insights for personalized recommendations. Our generative AI tools take creativity to the next level, offering photo and video editing, AI content generation, and personalized beauty experiences. Trusted by over 705 global brands and 1.1 billion YouCam app downloads, we make beauty, fashion, and skincare more accessible, engaging, and intuitive than ever before.
