Grigsby Departs Deep Machine, Moves Into New Fintech Startup

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Screen Shot 2016-08-17 at 12.51.54 PMRemember Deep Machine — the ML/AI startup launched by serial Minnesota tech entrepreneur Dan Grigsby?

It turns out that after only a few months of jamming, the band has broken up.

While the company itself remains intact,  currently operated exclusively by cofounder Josh Cutler , both Grigsby and Pete Schwamb have moved on.

True to his candid nature, here’s what Grigsby had to say about it all — and more importantly — what’s next on his agenda:

“Josh, Pete and I tried out several configurations of the business. First was consulting, but our best prospective customers already had big-data teams; selling into these companies was difficult because they assumed their big-data teams could do what we did. Second was a few variations on products; here we didn’t find a product-market fit.  We each had ideas about what’s next, but nothing was a shared vision, so amicably we decided to part ways.”

Moving forward, Grigsby is pursuing a fintech company called Bayes and Company “doing factoring with a twist and a novel approach for obtaining lending capital.”

XfgX_-0PCutler, now Deep Machine CEO, continues to develop a platform that combines deep learning and more traditional machine learning techniques to help make people more predictable.

“Our focus is primarily on the financial, healthcare and consumer retail markets because they are very data rich and knowing when the outcomes of interest (e.g. purchasing a mortgage or having a heart attack) will occur has an incredibly high value for our customers.”

He says that it’s still under beta, that there are customers using it in its nascent form, and he expects to fill the vacancies left by Grigsby and Schwamb soon.

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