Episode
#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
1:03:18
Published: Fri May 14 2021
Description
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. --------- * 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: * (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
Chapters
The host discusses horoscopes and shares a personal story about meeting Tim Ferriss while under the influence of drugs.
00:00 - 02:23 (02:23)
Summary
The host discusses horoscopes and shares a personal story about meeting Tim Ferriss while under the influence of drugs.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The podcast touches on horoscopes and how they may be helpful to find your strengths, weaknesses, or your calling in life.
02:23 - 06:12 (03:49)
Summary
The podcast touches on horoscopes and how they may be helpful to find your strengths, weaknesses, or your calling in life. Then they talk about Judge Judy and Michael Buffer and how their unique personalities and skills contributed to their massive success.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
It sounds like he was like, oh, women believe this shit.
06:12 - 10:46 (04:34)
Summary
It sounds like he was like, oh, women believe this shit.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The HubSpot podcast network brings you the Side Hustle Pro Podcast hosted by Nikayla Matthews Okome, which was advertised during a conversation about horoscopes.
10:46 - 15:35 (04:48)
Summary
The HubSpot podcast network brings you the Side Hustle Pro Podcast hosted by Nikayla Matthews Okome, which was advertised during a conversation about horoscopes.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The speaker expresses his skepticism towards horoscopes but acknowledges that some people find comfort in them, especially those leading difficult lives.
15:35 - 19:45 (04:10)
Summary
The speaker expresses his skepticism towards horoscopes but acknowledges that some people find comfort in them, especially those leading difficult lives. He compares the popularity of horoscopes to that of the nicotine and alcohol industries.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The podcast discusses the prevalence of virtue signaling culture and how it can lead to a lack of open-mindedness and demonization of those who hold different beliefs.
19:45 - 22:57 (03:12)
Summary
The podcast discusses the prevalence of virtue signaling culture and how it can lead to a lack of open-mindedness and demonization of those who hold different beliefs. They argue that it's important to recognize that everyone has their own ways of coping and to avoid cancel culture tendencies.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The hosts discuss the success of personalized content services such as horoscope and nutrition advice apps that connect users with experts for a fee, as well as the potential for this model to expand to other industries.
22:57 - 25:50 (02:52)
Summary
The hosts discuss the success of personalized content services such as horoscope and nutrition advice apps that connect users with experts for a fee, as well as the potential for this model to expand to other industries.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The speaker talks about selling his company and creating a new low-commitment business that recreates Mensa using online IQ tests.
25:50 - 29:58 (04:07)
Summary
The speaker talks about selling his company and creating a new low-commitment business that recreates Mensa using online IQ tests. He compares the business to a fun scheme and mentions he could throw it away next weekend if he wanted to.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The speaker questions the authenticity of celebrity-endorsed products such as Tony Robbins' seminars and Gwyneth Paltrow's crystal-infused wellness items.
29:58 - 34:59 (05:01)
Summary
The speaker questions the authenticity of celebrity-endorsed products such as Tony Robbins' seminars and Gwyneth Paltrow's crystal-infused wellness items.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The ability to write well can yield great value to entrepreneurs, leading to better copywriting, more effective email and social media campaigns, and improved communication with investors and customers.
34:59 - 40:16 (05:16)
Summary
The ability to write well can yield great value to entrepreneurs, leading to better copywriting, more effective email and social media campaigns, and improved communication with investors and customers. Developing writing skills can also provide an advantage when it comes to building a social media following and generating revenue through advertisements.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The speaker discusses how they tested the demand for their online course by working on the content first and creating 10 examples to show the improvement in their writing.
40:16 - 43:26 (03:10)
Summary
The speaker discusses how they tested the demand for their online course by working on the content first and creating 10 examples to show the improvement in their writing. They then calculated potential earnings for a course with 1000 students at $400 each.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
Learn how to become a better writer by actually writing and practicing in a controlled sandbox environment.
43:26 - 45:38 (02:11)
Summary
Learn how to become a better writer by actually writing and practicing in a controlled sandbox environment. This podcast offers tips and strategies for improving writing skills in the real world.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
Michael and Bruce Buffer are the most famous announcers in the world of boxing and MMA, known for their signature catchphrases.
45:38 - 50:12 (04:33)
Summary
Michael and Bruce Buffer are the most famous announcers in the world of boxing and MMA, known for their signature catchphrases. Michael trademarked "Let's get ready to rumble" in 1992 and Bruce has worked as a UFC ring announcer since 1996, and they have both licensed their iconic voices to video games and movies.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
Bruce Buffer makes up to a hundred grand per UFC event by announcing fighters' names.
50:12 - 54:01 (03:49)
Summary
Bruce Buffer makes up to a hundred grand per UFC event by announcing fighters' names. Judge Judy leveraged her pricing power to turn $113,000 into $47 million a year through the personal monopoly of her TV show.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The speaker talks about how some people are very protective of their personal brand.
54:01 - 57:51 (03:49)
Summary
The speaker talks about how some people are very protective of their personal brand. He shares a Tim Ferriss story as an example of this phenomenon.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The importance of being efficient in your work week is discussed, as well as strategies for achieving success and investing in climate change.
57:51 - 1:01:01 (03:10)
Summary
The importance of being efficient in your work week is discussed, as well as strategies for achieving success and investing in climate change. The use of specific phrases to convey professional boundaries is also touched upon.
Episode#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
PodcastMy First Million
The nuances and techniques of storytelling are essential for a successful stand-up comedy performance, as comedians must bring their audience on a journey and create an immersive experience.
1:01:01 - 1:03:25 (02:24)
Summary
The nuances and techniques of storytelling are essential for a successful stand-up comedy performance, as comedians must bring their audience on a journey and create an immersive experience.