Hey friends,

We made it to the 10th edition of the Driver’s Seat 🚙 !!

Thanks for supporting the early days of this publication.

My goal is to continue providing transparency on all things Drive Chicago along with sharing the excitement behind our innovation economy.

I want these weekly insights to help inspire the next generation of founders in Chicago to think bigger / explore new opportunities.

The Driver’s Seat will always be a collaborative publication — which means if you ever have insights to share, it’s as easy as hitting reply and letting me know!

And as always, please share what we’re doing with others! We have an easy to share referral link at the bottom of each edition.

📍 Today’s Topics

1. Why Chicago? 📍 

2. Chart of the Week 📊

3. Drive’s Pit Crew Seminars 🍿

4. Events Around the City 🗺

5. Lessons from GrubHub in Chicago 🍔

Let’s dive in! 🚙

📍 Why Chicago

Chicago’s very own P33 made an exciting announcement this week about our upcoming TechChicagoWeek ‘23!

Last year, the group brought together thousands of Chicagoans and visitors to celebrate Chicago’s diverse tech ecosystem through a week filled with culture, conversations and community.

This year, the plan is to go even bigger!

Make sure to RSVP for the various events here.

I’ll also be making a special announcement related to Tech Week soon 😎

To celebrate the announcement of TechChicagoWeek ‘23, I wanted to share some of my favorite insights from their website on why Chicago is the place to be for builders:

• Chicago is the #1 most diversified economy of the largest 10 U.S. metros (based on employment)

• Chicago is the #1 ecosystem for corporate relocation.

• Chicago is the most immigrant-friendly out of the 100 largest U.S. cities fastest growing tech hub

• Chicago is the #2 largest producer of computer science degrees in the US

• Chicago is the #1 city in the US for angel & seed-stage funding for Black and Latin Founders.

• Chicago is the #1 most immigrant-friendly out of the 100 largest U.S. cities.

📊 Chart of the Week

Earlier this month, the National Science Foundation announced seven new National AI Research Institutes.

This is apart of a $140M investment from the federal government to advance a cohesive approach to AI-related opportunities and risks.

It was neat to see that 3 of the 7 are located in the Midwest:

• The AI Institute for Inclusive Intelligent Technologies for Education at University of Illinois.

• The AI Institute for Societal Decision Making at Carnegie Mellon University.

• The AI Institute for Climate-Land Interactions, Mitigation, Adaptation, Tradeoffs and Economy at University of Minnesota.

The Midwest region is undoubtedly witnessing an exhilarating surge in transformative AI initiatives.

It's an encouraging sign of progress and innovation in the heartland of the USA.

🍿 Drive’s Pit Crew Seminars

Once to twice a month, I invite a friend of Drive (AKA a member of our Chicago pit crew 😉) to the office to teach a seminar for our early-stage founders.

So far we’ve had amazing guests like:

• Raj “the Startup Hypeman” who taught a lesson on storytelling

• Brian Dema came to speak about early stage marketing tips and tricks

• Cooley Chicago taught an informative lesson on Worker Misclassification

And most recently, Connor Beam from Lyft (and also the second growth hire at Cameo) came by to speak about early-stage growth levers.

These seminars are always arranged for our founders.

However, due to the overwhelming enthusiasm / energy generated in these sessions, we’ve decided to extend the invitation to other members of the community.

Attendance will be on a first-come, first-served basis.

Our next Pit Crew Seminar will take place on June 16th and will feature my good friend Ellie Bahrmasel, who will be covering a pre-seed company’s Journey Product Market Fit.

If you’d like to join the waitlist to attend IRL sign up here.

🗺 Events Around the City

Bitcoin Pizza Day Party

• Hosted by imnotArt

• Monday May 22

• RSVP

AAPI in Tech: Celebrating Asian American & Pacific Islander Heritage Month

• Hosted by ChicagoBlend

• Tuesday May 24

• RSVP

Women In Technology Networking Event

• Hosted by JPMorgan Chase Chicago

• Tuesday May 24

• RSVP

Courageous Minds Only

• Hosted by 1871

• Wednesday May 25

• RSVP

Data Science vs Artificial Intelligence: Clarify Your Doubts

• Hosted by ALGORYTHM School

• Thursday May 26

• RSVP

Reply directly to this email if you have a tech event you want featured in the Driver’s Seat!

🍔 Lessons from Grubhub in Chicago

The story of how Grubhub came to be in Chicago provides some great lessons for founders and builders.

Identify a Hair on Fire Problem

Grubhub recognized the inconvenience of ordering food over the phone and saw an opportunity to streamline the process through an online platform.

They identified a genuine problem faced by both consumers and restaurants and worked towards a solution that addressed it effectively.

Local Today, Global Tomorrow

Grubhub initially focused on the local Chicago market, building a strong presence before expanding to other cities.

This allowed them to establish deep connections with local restaurants and customers, providing a competitive advantage.

It’s wise to find a niche market and build a solid foundation before scaling operations.

The Power of Partnerships

Grubhub recognized the value of partnerships and collaborations early on.

They formed strategic partnerships with local restaurants, allowing them to expand their reach and provide a wider variety of dining options to customers.

Seek partnerships and collaborations that can enhance offerings, broaden your customer base / create mutually beneficial relationships.

Care Deeply About Your Customer

Grubhub placed a strong emphasis on providing an exceptional user experience.

They invested in developing user-friendly platforms, ensuring convenience, and offering reliable customer service.

Prioritize a customer-centric approach, consistently striving to meet customer expectations / deliver a seamless experience.

Be Adaptable

Grubhub demonstrated adaptability and a willingness to innovate. As the market evolved, they continuously refined their platform, integrating new features and technologies to enhance their services.

Startups should remain agile, embrace change, and continuously innovate to stay ahead in a dynamic and competitive landscape.

Stay Persistence

The GrubHub founders faced initial rejections and encountered obstacles along the way. However, their persistence and resilience allowed them to overcome setbacks and ultimately achieve success.

Startups should embrace the inevitable challenges and setbacks, learning from them and persevering to achieve their long-term vision.

👋 See you next time!

Thanks for making it this far! 😎

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