Episode
#39 - Getting a Billion People Working From Home
55:41
Published: Wed Jan 29 2020
Description
We interviewed the founder of Rev.com (they transcribe audio into text), to hear how he built this into a $206M (to be precise) business. We used them to transcribe the My First Million podcast episodes, and realized how badass of a service this was. Super simple concept - create a workforce (currently 50,000) that works remotely, transcribing audio from podcasts, conferences, meetings etc.. into text, for less than $1 per minute. Jason talks about freelancers making money in their pajamas, why they opened an office away from Silicon Valley, the impact of AI on remote work, working for free to show your worth, buying his domain for $400,000 and a clever way come up with and test a killer startup name. See acast.com/privacy for privacy and opt-out information.
Chapters
HubSpot CRM provides all the necessary tools to grow businesses by automating repetitive tasks, managing contact information, and tracking deals.
00:00 - 01:22 (01:22)
Summary
HubSpot CRM provides all the necessary tools to grow businesses by automating repetitive tasks, managing contact information, and tracking deals. It's easy to use and budget-friendly.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
Trint is an AI-powered transcription tool that provides services for everyone, from individuals to large media companies like CNN.
01:22 - 05:16 (03:54)
Summary
Trint is an AI-powered transcription tool that provides services for everyone, from individuals to large media companies like CNN. With a valuation of 206 million dollars, it is also utilized in many other industries such as e-learning websites and market research firms.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
The speaker discusses the benefits of switching from big companies to startups, and vice versa.
05:16 - 09:40 (04:23)
Summary
The speaker discusses the benefits of switching from big companies to startups, and vice versa. He highlights the importance of creating a company culture that doesn't burn out employees and allows them to still contribute in small or big ways to new ventures throughout their career.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
Artificial Intelligence (AI) will likely shrink some markets due to cost savings, but there will still be a need for human expertise for industries that require high-quality output like podcasts.
09:40 - 15:30 (05:49)
Summary
Artificial Intelligence (AI) will likely shrink some markets due to cost savings, but there will still be a need for human expertise for industries that require high-quality output like podcasts.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
The speaker discusses the impact of robots in the industry, exploring how they can improve efficiency and require more skilled labor.
15:30 - 19:50 (04:19)
Summary
The speaker discusses the impact of robots in the industry, exploring how they can improve efficiency and require more skilled labor. However, there are concerns about automation taking away jobs from human workers leading to a dystopian future.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
This podcast discusses the process of developing software that doubles productivity and reduces work time by 50% for audio transcription tasks by analyzing audio patterns to identify areas where workers frequently stumble and building tools to overcome these obstacles.
19:50 - 23:31 (03:41)
Summary
This podcast discusses the process of developing software that doubles productivity and reduces work time by 50% for audio transcription tasks by analyzing audio patterns to identify areas where workers frequently stumble and building tools to overcome these obstacles.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
Learn about negotiating equity in early stage startups from the perspective of someone who joined a company when it was still very small.
23:32 - 25:51 (02:19)
Summary
Learn about negotiating equity in early stage startups from the perspective of someone who joined a company when it was still very small.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
In this podcast, the importance of thinking through whether or not starting your own company is the right choice for you is discussed.
25:51 - 33:00 (07:08)
Summary
In this podcast, the importance of thinking through whether or not starting your own company is the right choice for you is discussed. Often times, people get caught up in wanting to be the next big thing without thinking through the details of what it takes to be successful in the entrepreneurial journey.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
The speaker reflects on the importance of learning how to build enduring advantages and developing a better view of what a good opportunity and company might be for oneself when starting a business.
33:00 - 38:10 (05:09)
Summary
The speaker reflects on the importance of learning how to build enduring advantages and developing a better view of what a good opportunity and company might be for oneself when starting a business. By saving a little bit of money beforehand, one could begin their venture without immediately needing external capital.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
This podcast discusses a new business model platform for skilled workers based on a tiered workforce.
38:11 - 41:37 (03:26)
Summary
This podcast discusses a new business model platform for skilled workers based on a tiered workforce. The aim is to create an alternative for platforms like Upwork and Fiverr that can address some of the weaknesses in those existing models.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
The speaker suggests not spending too much time in the beginning thinking about a name for your business because the odds of success are low.
41:37 - 48:44 (07:06)
Summary
The speaker suggests not spending too much time in the beginning thinking about a name for your business because the odds of success are low. They hired two domain brokers to find a suitable name for their company but found that coming up with a great name that is not already taken is difficult.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
VIPKid is a Chinese company that hires American teachers to teach English online to Chinese children, providing stay-at-home parents and retired teachers an opportunity to work flexible hours from home while earning an income.
48:44 - 53:37 (04:53)
Summary
VIPKid is a Chinese company that hires American teachers to teach English online to Chinese children, providing stay-at-home parents and retired teachers an opportunity to work flexible hours from home while earning an income.
Episode#39 - Getting a Billion People Working From Home
PodcastMy First Million
Jason Chicola provides his Twitter handle for people who want to learn more and connect with him on Twitter.
53:37 - 54:08 (00:31)
Summary
Jason Chicola provides his Twitter handle for people who want to learn more and connect with him on Twitter.