#158 - Buying Michael Jordan's House (and Making a Profit), Investing in Athletes & Successful Startup-Studios
My First Million5 Mar 2021

#158 - Buying Michael Jordan's House (and Making a Profit), Investing in Athletes & Successful Startup-Studios

MFM #158 Andrew Chen story University of Washington has a program for gifted high schoolers who want to do college early. Andrew took part and graduated at 19. He met some pretty cool people doing this including emmit of twitch, and head of hedge funds. Shaan got into a Duke program as a teenager via TIP program by scoring high on PSAT. Shaan: This is a great marketing trick -- he’ll do this when he starts his school For athletics, the opposite is done. MJ’s house Michael Jordan’s Chicago home went on sale for $30m many years ago, but hasn’t sold. Today it’s on sale for $14m. Idea #1: Buy the house using crowdfunding and through NFTs, any fan can own a fraction of the property. From there, the property can be turned into a museum. Idea #2: Instead of turning the house into a museum, turn into a great Airbnb. Obama’s Hawaii house (the Plantation Estate) rents for $6k a night or $180k a month. You have to make it the dream “man cave”/sports fan getaway. Make it an alternative to Vegas for bachelor’s parties. Fill the house with Jordan memorabilia, and make it an incredible experience for fans to come to. Famous homes: There's a precedent for taking famous homes and turning them into museums. Graceland: Elvis’ former home receives 600k visitors each paying ~$30 Painted Ladies: Painted Ladies and “Full House” house are mainstay attractions. “Full House” house sold for a premium above market price. Counter: Sam is sceptical of crowdfunding on Rally Road because of the difficulty in liquidating. Shaan counters by saying fractional ownership makes liquidity less of an issue. Also many aren’t concerned about selling. Would rather wait and hold. Big League Advance BLA: Offers cash to minor league baseball players with the promise of making money if the baseball player hits it big. Fernando Tatis Jr: Took cash when he was in the minors from BLA, but now has to pay out ~$30m after signing a $300m+ deal Opportunity: Baseball is the easiest to model, but the NBA presents a great opportunity because of guaranteed contracts. If a player gets a $100m, 5 year deal, you can offer them $80m upfront for the contract. Instead of Counter: This is a risky business. The business only works if you can model properly and get big hits to cover the losses. Startup studio Instead of investing in companies or starting just one company, startup studios invest and incubate several businesses at once. Shaan: Historically very tough and didn’t work. Garret Camp, Mark Pincus, Kevin Rose, and Michael Birch (Monkey Inferno where Shaan worked) all had studios which had no big winners. Successful studios: The tides may be shifting as a few studios have begun getting hits. Thrive Capital by Josh Kushner (Oscar), Atomic by Jack Abraham (Hims), Prehype (Barkbox and Ro) Atomic: Only works at one project at a time and the team has 9 months to raise a series A or else may be out of a job. Also focused more on B2B than consumer. eFounders: European studio that only does SaaS. They’ve been able to make the model successful Kevin Ryan: Part of DoubleClick when it was sold. Made about $20m and created AlleyCorp which incubated companies like MongoDB, Business Insider, Zola and Guilt. Good: It’s a dream job because you work on multiple ideas. Unlike a traditional startup, when failure happens you can just move onto a new project as a team Bad: For a startup to work, you need laser focus. Often what happens, when a startup hits a plateau, you can pivot to an area that’s working. At studios, the team is more inclined to move onto another project altogether. No do-or-die, back-to-the-wall mentality as with startups. --------- 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. Editing thanks to Jonathan Gallegos (@jjonthan)

Episoder(824)

I was $15m in debt...now I own a billion dollar portfolio

I was $15m in debt...now I own a billion dollar portfolio

Want Sam's Playbook to Uncover Hidden Business Opportunities? Get it here: https://clickhubspot.com/pcf Episode 727: Shaan Puri ( https://x.com/ShaanVP ) sits down with his brother-in-law Sanjiv Chopra to talk about how he went from $15M in debt to a real estate portfolio of $1.5B. — Show Notes: (0:00) Intro (3:37) $15M in debt on first deal (12:30) Pawning my wife’s wedding ring to buy a gym (19:41) Turning a broken gym around (22:02) Referral marketing (29:48) Double escrow (36:11) Shopping centers (40:20) What a Good Real Estate Deal Looks Like (44:02) How you act when you lose (51:02) Legacy, Balance & Being a Present Dad — Links: • Rhino Investments - https://rhinoinvestmentsgroup.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

22 Jul 20251h

Talking to a billionaire about how he uses ChatGPT

Talking to a billionaire about how he uses ChatGPT

Want Sam's playbook to turn ChatGPT into your executive coach? Get it here: https://clickhubspot.com/sfb Episode 726: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to Dharmesh Shah ( https://x.com/dharmesh ) about how he’s using ChatGPT. — Show Notes: (0:00) Intro (2:00) Context windows (5:26) Vector embeddings (17:20) Automation and orchestration (21:03) Tool calling (28:14) Dharmesh's hot takes on AI (33:06) Agentic managers (39:41) Zuck poaches OpenAI talent w/ 9-figures (49:33) Shaan makes a video game — Links: • Agent.ai - https://agent.ai/ • Andrej Karpathy - https://www.youtube.com/andrejkarpathy — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

16 Jul 202556min

Brainstorming $10M AI Business Ideas w/ the Airtable Founder

Brainstorming $10M AI Business Ideas w/ the Airtable Founder

Want to scale your side hustle with AI? Get 700 prompts here: https://clickhubspot.com/wbc Episode 725: Sam Parr ( https://x.com/theSamParr ) talks to the founder of Airtable, Howie Liu ( https://x.com/howietl ), about 7 AI business ideas he would start if he was in his 20s. — Show Notes: (0:00) IDEA: Live Shopping w/ AI avatars (5:34) IDEA: AI personalized news (10:36) IDEA: AI Personal Finance Advisor (18:27) IDEA: AI PE model of buy an existing business (24:20) IDEA: Cursor for email (36:53) IDEA: AI-native social apps (38:42) IDEA: Uncensored AI search — Links: • Sesame - https://www.sesame.com/ • Whatnot - https://www.whatnot.com/ • HeyGen - https://www.heygen.com/ • Superhuman - https://superhuman.com/ • Kubera - https://www.kubera.com/ • Addepar - https://addepar.com/ • Airtable - https://www.airtable.com/ • Chief.so - http://chief.so/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

11 Jul 202544min

How this dumb doll makes $2M per day

How this dumb doll makes $2M per day

Want Sam's Playbook to Uncover Billion-Dollar Business Opportunities? Get it here: https://mfmpod.link/rve Episode 724: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) break down $1B+ product crazes and why they worked. If you want to help those on the inside, donate to The Last Mile (https://thelastmile.org/donate) and Inside Circle (https://insidecircle.org/) — Show Notes: (0:00) Labubu (3:19) The "gotcha" mechanic (10:53) The lipstick effect (12:53) The lalapalooza effect (15:17) $1B+ crazes (20:48) Tony's Chocolonely (31:10) Sam goes to prison (37:18) The Larry story (41:26) Shaan joins a prison gang (51:15) Sam vows to quit the internet and money (54:52) Pomp's SPAC — Links: • Pop Mart - https://www.popmart.com/us • Tony’s Chocolonely - https://tonyschocolonely.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

9 Jul 20251h 3min

How I Bought a $3.4M Business For $200K

How I Bought a $3.4M Business For $200K

Want Sam's Playbook to Uncover Hidden Business Opportunities? Get it here: https://clickhubspot.com/weo Episode 723: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to Shaan’s college friend Dan Certner ( https://x.com/youneedbags ) about how he bought a business and doubled it in 18 months. — Show Notes: (0:00) Dan the bag man (5:16) Farmville Fraud Detection (10:09) Fail: Getting rich working at a startup (15:13) Buying a bag business (19:30) The forgivable sellers note (22:57) How to find the right business (37:29) Meeting the seller (40:15) Negotiating the terms (45:44) The real profit (49:55) Who should do this? (53:40) Everything is someone's business (56:32) The exit strategy (59:41) Shaan and Dan's business plan (1:07:49) Fun to Run Businesses — Links: • Fleet - https://www.fleetpackaging.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

4 Jul 20251h 21min

I Turned $1M into $2.3B (Then Blew It Up and Rebuilt)

I Turned $1M into $2.3B (Then Blew It Up and Rebuilt)

Want Sam's playbook to turn ChatGPT into your executive coach? Get it here: https://clickhubspot.com/etb Episode 722: Sam Parr ( https://x.com/theSamParr ) sits down with Mike Novogratz ( https://x.com/novogratz ) about risk tolerance and coming back from massive losses. — Show Notes: (0:00) Mike’s first million (8:37) Starting Fortress (13:55) $30M to $2.3B (25:28) Operating system for life (35:41) Being early on crypto (40:26) Risk tolerance — Links: • Fortress - https://www.fortress.com/ • Galaxy - https://www.galaxy.com/ • Business Untitled - https://www.youtube.com/@BusinessUntitled — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

30 Jun 20251h 5min

He Bought a Local Newspaper… Now He Makes $600K/YR

He Bought a Local Newspaper… Now He Makes $600K/YR

Want to scale your business? Get the Side Hustler's AI Prompt Database: https://clickhubspot.com/kvw Episode 721: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk about a billionaire’s recipe for happiness, Shaan’s stock picks, plus the new mayor of NY. — Show Notes: (0:00) Billionaire recipe for happiness (5:12) Shaan gives a talk at Berkeley (12:01) Steve Ballmer on Acquired (17:02) Gary V is bullish on everything (26:28) The new mayor of NY (35:45) Multilingual politicians (38:43) Vibe voting (41:20) Idea: "The President" (45:58) Businesses w/ 50X potential (49:07) Shaan's first 6 stocks — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

27 Jun 202558min

Business as a sport, Surge AI, and Waymo vs. Robotaxi

Business as a sport, Surge AI, and Waymo vs. Robotaxi

Want to scale your startup? Get 700 prompts for your side hustle: https://clickhubspot.com/fpg Episode 720: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk about how Surge built a $1B business in 5 years and the second-order effects of self-driving cars. — Show Notes: (0:00) Best idea of the month (6:00) Business as a sport (10:57) The inner game of tennis (14:21) Shaan writes a letter to himself (19:15) Patron View (27:42) Surge (35:00) Handshake (39:47) Waymo vs Robotaxi (50:30) Elon replies to Shaan's tweet (53:13) Shaan gets in a fight with his moms doctor (1:02:50) Sam wears overalls — Links: • The Inner Game of Tennis - https://tinyurl.com/mphz9zkr • Patron View - https://patronview.com/ • Museum Hack - https://museumhack.com/ • Surge AI - https://www.surgehq.ai/ • Handshake - https://joinhandshake.com/ • Gemini - https://gemini.google.com/ • Grok - https://grok.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

25 Jun 20251h 8min

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