I was offered $200M at 24 and I turned it down

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. --------- * 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. --------- 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

27 Elo 20211h 24min

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. --------- * 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. --------- 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

25 Elo 20211h 6min

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. --------- * 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. --------- 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

23 Elo 202153min

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. --------- * 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. --------- 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 * (54:20) What Shaan would do * (57:55) On stand up comedy and what makes a good joke * (1:02:13) What the best storytellers have in common * (1:04:27) Where to find Julian

20 Elo 20211h 5min

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) dive into a few industries and talk about the players behind them. They start off talking about car dealerships and the handful of politicians who make major coin through them. They then transition to celebrities and how some have leveraged their name to make even more money. They finish the episode with a few anecdotes on how some people started to accumulate wealth and a snippet on anti-aging and scientific discovery. --------- * 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. --------- Show notes: * (0:59) Intro * (2:47) The Skip Barber racing school * (6:48) Digitizing the gun range * (10:57) The politicians making money with car dealerships * (23:06) The cool growth hack used by Spoonflower * (28:48) Celebrities making bank of their celebrity * (35:26) George Clooney hooking up his friends with $1M cash * (39:51) A feel good story about Shaan's trainer * (41:58) The Bar & Bat Mitzvah hack to wealth * (44:57) A unique twist on Universal Basic Income - the birth dividend * (47:35) Aubrey de Grey and how scientific breakthroughs work

18 Elo 20211h 1min

In this episode Gary Vaynerchuk (@garyvee) joins Sam (@theSamParr) and Shaan (@ShaanVP) to give a master class on NFTs. Gary shares his predictions on the future of NFTs and how they'll be (eventually) used by everyone. He also talks about the growth of VaynerX, his love of garage sales, and the launch of VeeFriends & VeeCon. At the end, he shares the biggest lesson he learned from passing on investing in Uber (twice). --------- * 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. --------- Show notes: * (0:58) Intro * (5:14) The headcount growth of VaynerX * (11:44) On Shaan's Clubhouse prediction * (13:39) Gary's conviction to the game * (17:44) Shaan's first foray into NFTs * (19:53) Gary's prediction on the future of NFTs * (23:24) Revisiting the purchase of Michael Jordan's house * (28:03) The story of the Spirits of St. Louis * (29:21) The what, not the how, for NFTs * (32:53) VeeFriends and VeeCon * (39:24) On Gary's master plan to buy and grow existing brands * (43:28) How Gary thinks about creating content * (45:52) Putting wins on the board * (47:28) Missing on Uber

13 Elo 202152min

In this episode Shaan (@ShaanVP) is joined by Steph Smith (@stephsmithio) for an idea packed episode. They start off talking about opportunities around spending your FSA dollars and on swag packs. They transition to talk about the role of automation at companies and Steph shares how she would go about automating repetitive parts of her role. The end the episode talking about Steph's new course, approaches to building a company, and Fidelity allowing trading accounts for teenagers. --------- * Want Steph's course? You can find it at https://doingtimeright.com * 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. --------- Show notes: * (1:06) Intro * (2:20) Ideas around spending your FSA dollars * (15:58) Ideas around giving out awesome swag * (21:52) The role of chief automation officer * (27:37) Building a company around automation * (35:03) Giving away free alcohol as marketing * (41:22) How Steph invests her time & money * (43:50) Steph's new course - doingtimeright.com * (47:44) Approaches to building a company * (51:39) Fidelity allowing teenagers on the platform * (56:52) How to find Steph online

11 Elo 202158min

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) break down a multi-million dollar opportunity to unbundle Etsy ($24B market cap). Shaan also shares how he would approach it if he were doing it himself. The guys also talk about the multi-billion dollar elevator industry, a training program to become an MMA fighter, and whether tax incentives make Canada an attractive place to run a startup. --------- * 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. --------- Show notes: * (1:10) Intro * (3:30) The elevator industry * (11:08) Unbundling Etsy * (22:43) A crash course to become an MMA fighter * (28:02) Mental Fitness * (39:01) Moving to Canada + SRED credits * (45:53) Reese Witherspoon's massive exit * (51:45) Delta airlines meet Delta variant

6 Elo 202155min