The Pace Report Volume 17

Snoop Dogg, famed rapper and cannabis icon, recently shocked the internet by announcing he was quitting smoking. Known for his association with marijuana, this appeared as a significant shift. In the past, Snoop Dogg had talked about quitting for personal reasons, including being a more responsible father​​​​​​.

However, the announcement was actually part of a marketing campaign for a smokeless fire pit. Snoop Dogg revealed on social media, "I'm done with smoke. I'm going smokeless with @SoloStove," showcasing a clever twist in advertising. 

The campaign's effectiveness lies in its unexpectedness, likened to unlikely scenarios for its shock value. It's a tactic that marketers are likely to analyze for its creativity and impact. In essence, Snoop Dogg's move from smoking to promoting a smokeless product highlights the evolving landscape of celebrity-led marketing in 2023.

Quora's AI chatbot platform, Poe, has introduced a novel monetization program, a first in the industry, aimed at financially rewarding AI bot creators. The innovative move is allowing creators to earn through two primary methods: a share in subscription revenue if their bot leads to a new Poe subscription, and the soon-to-be-launched feature of setting per-message fees for their bots. Initially introduced in February, Poe serves as a central hub for AI chatbots from companies like OpenAI, Amazon, and Google-backed Anthropic, aiming to enhance Quora's existing Q&A ecosystem.

Since its launch, Poe has seen significant user engagement, with over 18.4 million installs and nearly 1.22 million monthly active users. The monetization program is currently exclusive to U.S. users, offering up to $20 per user who subscribes due to a creator's bots. The program is designed to incentivize creators to develop engaging content, while also helping Poe in expanding its subscriber base. 

Elon Musk has unveiled 'Grok,' a new AI chatbot developed for X (formerly known as Twitter), signaling a bold step into the competitive world of generative AI. Grok, which was launched on November 5, 2023, is set to be an exclusive feature of X's top-tier subscription service, X Premium+. This chatbot differentiates itself by having real-time access to information from X, offering users responses that are both contextually relevant and current, positioning it as a strong rival to established AI chatbots like ChatGPT.

Currently in limited testing, Grok is designed to address "spicer questions," indicating a capability for more nuanced and complex interactions than its counterparts. The broader launch of Grok to X Premium+ subscribers is anticipated soon, marking a significant development in the AI chatbot arena. Musk's venture into AI with Grok aims to enhance user experience on X, blending the immediacy of social media information with the intelligence and interactivity of AI technology.

SKKY Partners, a private equity firm founded by Kim Kardashian and Jay Sammons, has reached its first deal by acquiring a significant minority stake in TRUFF, a brand known for its truffle-infused products. This acquisition reflects SKKY's investment strategy focused on high-growth consumer brands that have a deep connection with their audience. Founded in 2017, TRUFF has grown from a direct-to-consumer hot sauce brand to a multi-channel food business with a broad presence in retail stores.

The investment by SKKY Partners in TRUFF highlights the evolving dynamics of the creator economy, where influencers and celebrities are increasingly engaging in entrepreneurial ventures, leveraging their large followings to promote and scale businesses. This trend underscores the growing impact of the creator economy in various sectors, with influencers not just endorsing products but actively participating in business development and brand growth. The transaction is expected to close in the first quarter of 2024, with TRUFF's co-founders remaining in leadership roles and significant investors