My First Million

Latest Episodes:

#219 - How to Make Billions with a Niche DTC Clothing Line Sep 15, 2021

Show notes

In this episode Shaan (@ShaanVP) reveals the creation of the first My First Million NFT. Sam (@theSamParr) and Shaan also talk about Laird Hamilton's Superfood company, whether people should lie more, and they share their reactions to an recent twitter thread. They close out the episode with ideas around other niches Figs could work for, opportunities with crypto conferences, and in creating retreats.

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* The MFM NFT - https://bit.ly/MFM-NFT

* Stripe for Vice - https://twitter.com/mrskylor/status/1437182707675504640

* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:53) Laird Hamilton's publicly traded company

* (6:04) The battery theory

* (10:17) The MFM NFT

* (14:08) The Stripe for vice story

* (20:00) Should people lie more?

* (23:32) Figs for construction

* (35:40) Meet George Barber

* (37:12) Meow Wolf for immersive experiences

* (41:11) Two bit circus

* (44:15) The big opportunities with crypto conferences

* (47:29) Event & retreat opportunities

* (51:36) What success can look like in VC

#218 - Why You Should Take a Think Week Like Bill Gates Sep 10, 2021

Show notes

[Updated] In this episode Sam (@theSamParr) and Shaan (@ShaanVP) talk about what Shaan has learned over the last week by taking a Bill Gates-inspired week off to dive deep into crypto. They also talk about Wilbur Wright, identifying stories from your work experiences, and who they follow in real estate Twitter. They close it out talking about a Twitter thread with a different take on levels of wealth and then potential solutions to Sam's occasional panic attack.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:53) The backstory of Wilbur Wright

* (9:26) First, last, best, worst, weirdest

* (12:44) Sell the story

* (17:02) Real estate Twitter

* (29:17) Opportunities for niche content creators

* (33:42) Shaan's think week is crypto week

* (37:53) Meet Andre

* (40:19) Observations from crypto week

* (43:46) #1 - crypto dev tools

* (45:23) #2 - NFT research tools

* (48:42) Shaan's take on NFTs

* (59:09) Levels of wealth thread

* (1:07:16) Parallels to Naval and financial freedom

* (1:15:39) Panic attacks

#217 - Why Direct-to-Consumer Companies Are Awesome to Own Sep 08, 2021

Show notes

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) debate the merits of owning and operating a direct-to-consumer e-commerce business. Shaan breaks down some of the basic ins-and-outs you should look for with ad spends and purchase multipliers. They also discuss the state of economy and whether or not we are in a bubble (or rather, many bubbles), a new NFT project called Loot, the recent raises of Whoop and Allbirds, and Sam's friends Bitcoin gamble.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

* The Everything Bubble: https://blog.ftx.com/blog/the-everything-bubble/

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Show notes:

* (2:06) Back to school

* (2:39) A psychedelic story

* (10:23) The story that lead to a breathwork app

* (17:40) An event better than SoulCycle

* (19:32) The ranch retreat for deeper connections

* (26:32) The 2018 Bitcoin gamble

* (32:06) The Everything Bubble

* (40:35) Loot - 10 words of gibberish

* (42:40) Thoughts on Whoop's recent round & Allbirds S-1

* (47:58) Why DTC companies are awesome

* (56:31) Shaan's award show

#216 - Why Today Is the Day to Ask For a Raise Sep 03, 2021

Show notes

In this episode Shaan (@ShaanVP) shares why you should ask for that raise and Sam (@theSamParr) pokes holes in the $75K happiness study. They also debate whether it is better to own the entirety of a smaller company or a piece of a bigger one. The two also talk about MMA fights and how you can package that appeal, the future of maps, and a fractional vacation home company. Sam also shares the story around Wayne Huizenga, this week's Billy of the Week.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:48) Spending time in the Hamptons

* (3:11) The Jake Paul fight

* (6:59) The local MMA fight

* (11:00) Chasing the sensation of feeling alive

* (15:06) The $75K happiness study

* (19:50) How Shaan got insights on his teams wellbeing

* (24:08) The future of maps

* (34:10) Billy of the Week: Wayne Huizenga

* (44:48) Pacasso for your next vacation home

* (49:48) To own all of a small company or a piece of a big one

* (59:40) Ask for a raise today

#215 - What Venture Capital Will Look Like in the Future Sep 01, 2021

Show notes

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) predict what venture capital will look like in the future. Shaan breaks down the different ways someone can win as a VC and also explains how SPACs work. The guys also talk about a company providing dummy data, the allure of a recruiting agency, and we learn about Harold Alfond - this week's billy of the week.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (3:30) Sam's book of the week

* (9:58) Tonic Fake Data

* (17:18) Recruiting as a solopreneur

* (21:10) Amazon liquidation

* (31:22) Sam's Costco return story

* (34:24) Shaan's Halloween costume rule

* (37:09) Billy of the week - Harold Alfond

* (48:18) Charitable donations

* (57:15) The future of venture capital

* (63:03) How SPACs work

* (70:22) The ways to win as a VC

* (74:53) The $200 million dollar graffiti artist

SPECIAL: The Tools in the Solo Creator Toolbox Aug 31, 2021

Show notes

This special episode is a crosspost from the Indie Hackers Podcast with Courtland Allen. Sam and Shaan were interviewed by Courtland a few months ago and they gave a behind-the-scenes look at how they think about building out different income streams as a solo creator.

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* Follow Indie Hackers: https://www.indiehackers.com/podcasts

* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:05) On Courtland selling to Stripe

* (4:30) What makes My First Million special

* (12:05) How a founder can succeed after being acquired

* (17:49) Shaan's path to solopreneur

* (26:19) How you make money with a rolling fund

* (32:52) Ideas around astrology and horoscopes

* (41:14) The tools in the solo creator toolbox

* (43:14) Who is having the most fun doing what they do

* (53:35) What are Sam & Shaan's end game?

* (1:01:41) How to have it all

#214 with Ramit Sethi - Why You Should Have a Diversified Investment Portfolio Aug 27, 2021

Show notes

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) are joined by Ramit Sethi (@ramit), the founder of I Will Teach You To Be Rich. They start off talking about course businesses and Ramit shares what he's learned running courses for over 15 years. Ramit shares a few ideas for businesses and then the trio talk about different strategies around investing. Shaan shares why his approach is so different from what Ramit recommends, and he breaks down his own asset allocation. At the end Sam & Ramit share their personal money rules.

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* Follow Ramit on Twitter: https://twitter.com/ramit

* Ramit's new podcast: https://iwt.com/podcast

* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:06) Ramit's new podcast

* (5:02) An update on Shaan's Power Writing course

* (7:07) Ramit's course business

* (11:30) Who is Jay Abraham

* (16:43) Should MFM get a new name?

* (20:14) How long can Ramit run his empire

* (24:11) Ramit on trolls

* (27:31) The history of courses

* (34:12) Ideas around pets

* (37:35) Ideas around cosmetics

* (39:54) How Ramit would differentiate a product

* (43:47) Ramit's money hacks

* (46:00) How Shaan approaches investing

* (47:00) A little anecdote about camera issues

* (47:58) Back to Shaan's investment approach

* (50:47) What game are you playing and what risk can you tolerate?

* (53:26) What Shaan's goals are with investing

* (57:11) Ramit's 10 money rules

* (59:35) Sam's money rules

* (1:02:09) Taking out loans on your assets

* (1:05:33) How Ramit thinks of risk versus rewards

* (1:17:10) Ramit on Sam's engagement ring story

* (1:21:04) It's not all about the metrics

#213 - How to Build a Community Aug 25, 2021

Show notes

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) break down community businesses and different ways you can build a community. They also talk about the law of reciprocity, the ad Sam wrote that competitors have stolen, and the importance of user generated content for digital ads. They end the episode talking about how technology will change construction sites and share a few Instagram accounts worth following.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:00) The law of reciprocity

* (6:51) What is Friends with Benefits

* (12:56) Why communities can be great businesses

* (14:58) How big can token backed communities be?

* (17:33) Soho House went public

* (19:45) Should MFM make a social token?

* (22:46) Set your data free

* (29:36) Communities of communities can be big businesses

* (30:54) User generated content & Sam's great ad copy

* (36:45) The hot girl side hustle

* (46:33) The future of construction sites

* (53:41) Remote arcade games

* (57:02) Some accounts to spice up your Instagram feed

* (1:00:01) The man behind Telegram

#212 - Why You Shouldn't Be A Slave to a 40 Hour Work Week Aug 23, 2021

Show notes

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) discuss alternatives to a 40 Hour Workweek. They start off with Tim Ferriss & his ideas around mini retirements followed by the work ethic & career drive of people outside the US. They then dive into Naval Ravikant and his origin story, his thoughts on work, and his vision for the future of work. They end the episode with a few stories about rattlesnakes and bees.

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* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:04) The 40 Hour Workweek

* (3:56) The Science of Fear

* (7:57) What Shaan learned from The Four Hour Workweek

* (11:23) Mini retirements

* (13:35) What it's like in other countries

* (17:35) Living like a lion or cow

* (20:04) Shaan on Naval

* (27:05) How to get rich without getting lucky

* (29:27) The future of work

* (36:51) The history of writing

* (41:17) Beware of the rattle snack

* (48:05) Bert behind Bert's Bees

#211 with Julian Shapiro - The 3 Cheat Codes Startups Use to Print Cash Aug 20, 2021

Show notes

In this episode Shaan (@ShaanVP) is joined by startup growth expert Julian Shapiro (@julian). Julian shares the 3 growth trends he noticed successful startups were implementing to grow at astonishing rates. The pair also discuss different publishing schedule approaches and how to write an effective Twitter bio. They end the episode talking about what each of them would do if they were to do something different.

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* Follow Julian on Twitter: https://twitter.com/julian

* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

* (1:03) Julian on Podcasting

* (4:45) The 3 cheat codes

* (5:44) #1 - Give your customer a no-brainer decision

* (6:15) #1A - Give them money (in a sustainable way)

* (13:02) #1B - Make it super low friction

* (19:48) #2 - Billboarding & naturally encourage sharing

* (30:13) #3 - Self-liquidating funnels

* (40:58) Why publishing erratically works for some

* (45:58) Julian on Twitter bios

* (50:44) What Julian would do if he was doing something different