My First Million

Latest Episodes:

#187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts May 28, 2021

Show notes

There are entrepreneurs quietly generating six figures working part-time in the vending machine business. Others have been able to scale to multi-million and even multi-billion-dollar figures in the industry. Shaan (@ShaanVP) and Sam (@TheSamParr) break down the vending machine industry with tons of numbers and exactly how some are pulling it off. The guys transition from a "boring" business to high-tech ones as they break down how Vimeo went from a College Humor project to competing with YouTube and earning an $8b valuation. They also talk about a trendy new pod that generated 500k downloads on its first day and they brainstorm on a fun concept: ghost kitchens for gifts.

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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:

* (5:55) How Vimeo became an $8b company

* (14:26) The next big social app?

* (25:45) The millions to be made in vending machines

* (41:35) Ghost kitchens for gifts

* (53:00) Post-podcast free talk

Stanley Druckenmiller on What Makes a Great Investor, Bitcoin & His Biggest Trades May 27, 2021

Show notes

Trung Phan (@TrungTPhan) -- lead writer for The Hustle -- interviewed hedge fund legend Stanley Druckenmiller on May 11. Widely regarded as one of the greatest investors ever, Druckenmiller famously made $1 billion in a single trade shorting the British Pound in 1992.

Sam (@theSamParr) has a brief intro chat with Trung before transitioning into the 40-minute Druckenmiller Q&A, which covers: 1) the parallels between now and the Dot-com bubble; 2) the appeal of Bitcoin; 3) the first Big Tech firm likely to reach a $5T valuation; 4) what makes a great investor; and 5) Druckenmiller’s investment in fintech startup Toggle AI (which set up the interview).

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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:

* (8:25) Lessons from the Dot-com Bubble

* (17:40) What’s the first Big Tech company likely to reach a $5T valuation?

* (19:25) What’s the biggest risk to the equity markets?

* (21:55) What are the long-term effects of the Wall Street Bets saga?

* (24:20) How he uses Toggle AI in his investing process

* (26:50) What makes a great investor?

* (35:20) What is the appeal of Bitcoin?

* (42:20) His thoughts on Dogecoin

* (44:20) Advice for 20-year olds

#186 with Marc Lore - Brainstorming with Billionaire Marc Lore on What He Would Build Today and the Future of Ecommerce May 26, 2021

Show notes

Shaan (@ShaanVP) and Sam (@TheSamParr) talk with billionaire Marc Lore. Marc is an entrepreneur who started The Pitt, Diapers.com, and Jet.com. Collectively he has sold his companies for over $4B. Marc talks about his plans for his new NBA team, the Minnesota Timberwolves, which he bought alongside Alex Rodriguez. He talks about how he plans to run the team like he has always ran his companies. He talks about the importance of hiring the right people (and how to do it) and being well-capitalized. For the second half of the podcast, we jump straight into a brainstorm. Marc talks about the interesting companies he's investing in as well as the ones he would like to exist. He even breaks down how he would go about creating a $100m e-commerce related company within the next 3 years

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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:

* (6:00) How Marc came to own the Timberwolves

* (15:28) How Marc Lore hires people

* (28:30) These are the companies Marc is investing now

* (37:40) How Marc decides which companies to start and how he goes about it

* (44:47) Where Marc thinks the future of e-commerce is going

* (55:17) How Marc would build a company to sell for $100m

* (1:00:27) Shaan and Sam debrief

#185 with Andrew Wilkinson - The Secretive Billionaire Who Acquired Burger King, Creating Better Babies & How Much Money is Enough? May 25, 2021

Show notes

Sam (@theSamParr) and Andrew (@awilkinson) break down billionaire Jorge Paulo Lemann. Lemann has built his fortune by acquiring consumer businesses and running them profitably by slashing costs. He famously sells all corporate jets when he acquires a company. The guys then get into a brainstorm on Andrew's new media company, how to create healthier babies, and "health managers".

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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:

* (4:05) Billie of the Week: Jorge Paulo Lemann

* (37:25) How Andrew is building a local media business empire

* (45:50) How to create a better baby

* (51:25) What is a "health manager"?

* (59:02) How much money is enough?

#184 - Making Millions Improving Mobility, How to Beat Linkedin & Why You're Early Even When You're Late May 21, 2021

Show notes

Canva is awesome, so why hasn't anyone pulled off Canva for video? Shaan (@ShaanVP) and Sam (@TheSamParr) dive into the opportunities in this space and how a huge company can be built by making it easier to create videos. The guys then talk mobility. This is a huge market opportunity with companies like GOWOD and The Ready State making millions helping people improve their mobility. Next, the guys brainstorm on creating a better Linkedin and a few companies doing it.

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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:

* (11:42) Canva for video explained

* (24:25) Why we need super joints

* (39:37) The local Linkedin?

* (45:08) How to build a better Linkedin

* (1:00:03) Even when you're late, you're early

Emergency Podcast - I Just Lost $500k This Morning: Here's a Framework for Dealing With a Crisis May 19, 2021

Show notes

Shaan (@shaanvp) talks about dealing with a crisis. He lost half a million in one day -- here's his mindset and how he dealt with it.

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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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#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces May 19, 2021

Show notes

Shaan (@ShaanVP) and Sam (@TheSamParr) go in on the courses industry. They break down the different types of course business categories, how to build them, and how to grow them. Shaan also talks about a Twitter fight he got into that got him blocked. The guys finish the episode by brainstorming on ideas ranging from "a bar-in-a-box" to selling ice to capitalizing on real estate vacancies.

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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:

* (5:48) Why Shaan got into a Twitter argument

* (18:21) Is On Deck the most over-hyped course company?

* (23:35) The guide to course businesses

* (45:30) How IPaaS (Irish Pub as a Service) is making millions

* (53:32) Making money selling ice?

* (58:41) Profiting from vacant office spaces

Greatest Hits #3 - Selling a Blog For $9m with Ramon van Meer May 17, 2021

Show notes

Shaan (@ShaanVP) interviews Ramon Van Meer (@ramonvanmeer) on his journey to selling his blog. Ramon has never seen a soap opera. Yet somehow, he built the most popular soap opera blog on the planet - and was raking in millions per year! Today's conversation is about how he got the idea and flipped a $49 WordPress theme into a multi-million dollar payday.

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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:

* (7:32) Who is Ramon van Meer?

* (10:50) Why Ramon decided to focus on soap operas

* (16:25) Ramon's mindset while building his business

* (21:31) How Ramon built a 350k mailing list with quizzes

* (30:00) How Ramon comes up with ideas for businesses

* (35:30) The moments Ramon thought he would fail

* (39:55) Why did Ramon decide to sell?

#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly May 14, 2021

Show notes

Shaan (@ShaanVP) and Sam (@TheSamParr) talk about an astrology app that has been creating controversy throughout Silicon Valley -- Sanctuary. VCs have come out against the app as pseudoscience, but the guys question their logic. These kinds of apps go into the bucket of "me-businesses" or businesses that tell the user about themselves. So from there, the guys brainstorm on ideas within this framework. The second half of the episode is focused on "personal monopolies" -- the concept of creating a big personal brand and monetizing it. We talk about a few people who have done it successfully and how you can too.

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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:

* (5:42) The controversy behind an astrology app

* (20:18) Brainstorming "make-it-about-me" businesses

* (28:40) Shaan and Sam's "one-night stand" businesses

* (38:11) Why you shouldn't overthink your idea

* (45:21) Personal monopolies: Michael Buffer, Judge Judy, and Ryan Seacrest

* (54:57) Sam's Tim Ferriss story

#181 - How Virtual Horses are Making Millions, A Potential 9-Figure Company & How to Bet on Anything May 13, 2021

Show notes

Virtual horse racing? That's right Shaan (@ShaanVP) and Sam (@TheSamParr) break down a virtual horse racing company doing millions. The company is so hot right now, Sam even tried investing but wasn't able to. They also talk about a company delivering testosterone right to your doorstep. We've talked about this business before, and Shaan even said it was one of the best ideas we've had on the pod. We also cover BeeRoll (Shaan thinks this can become a 9-figure company), Polymarket, and a bunch of growth tactics at the very end.

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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:

* (3:04) The company delivering testosterone to your door

* (13:58) Making millions from virtual horses?

* (28:38) How BeeRoll is turning regular people into micro-influencers

* (43:18) How to bet on anything

* (52:23) Updates on the podcast