Episode
Lessons From Sam's New Business Venture, High Stakes Gambling, and More
1:25:01
Published: Tue Jun 07 2022
Description
Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk about lessons learned from Sam's new business venture, the money makers of online high stakes gambling and so much more. Also, want $5,000? Check out the My First Million Clips contest. ----- Links: * My First Million Clips contest * Mugshawtys * Stake.com * Primedice.com * Easygo * Scale * Marketbeat * Worldwide Systems * Workshop * Cloud Kidz Online Preschool * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ----- Show Notes: (01:20) - Mugshawtys (04:35) - Cryptocurrency online gambling site owners (17:20) - Youngest billionaire (20:40) - Marketbeat (34:25) - What is a systems integrator? (46:35) - Why you should be investing more now (50:00) - Sam's new business venture (58:05) - Shaan's sister's business (01:07:40) - Ben's LDS mission ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Chapters
The podcast discusses an individual who allegedly lost 17 million dollars on roulette and a man whose mugshot went viral due to his good looks and landed him a modeling contract.
00:00 - 03:46 (03:46)
Summary
The podcast discusses an individual who allegedly lost 17 million dollars on roulette and a man whose mugshot went viral due to his good looks and landed him a modeling contract.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The cost of someone's personal home can be indicative of their wealth, as it's difficult to receive a loan without a significant income.
03:46 - 09:27 (05:41)
Summary
The cost of someone's personal home can be indicative of their wealth, as it's difficult to receive a loan without a significant income. This can also be used as a marketing campaign, as seen with a recent home purchase by a wealthy individual.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
Unconfirmed rumors suggest that private equity executives can make up to $800 million per year, compared to Drake's rumored $20 million monthly payout as a sponsor of a gambling website.
09:27 - 13:12 (03:44)
Summary
Unconfirmed rumors suggest that private equity executives can make up to $800 million per year, compared to Drake's rumored $20 million monthly payout as a sponsor of a gambling website.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The process of training self-driving car computers and other artificial intelligence requires a huge amount of footage to be labeled, allowing the computers to recognize common objects and be corrected when wrong.
13:12 - 19:03 (05:51)
Summary
The process of training self-driving car computers and other artificial intelligence requires a huge amount of footage to be labeled, allowing the computers to recognize common objects and be corrected when wrong.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The owner of an aggregation tool for stock information reveals how the majority of the traffic to the website is from people looking for stock prices, despite the lack of contribution to revenue.
19:03 - 22:57 (03:53)
Summary
The owner of an aggregation tool for stock information reveals how the majority of the traffic to the website is from people looking for stock prices, despite the lack of contribution to revenue. However, the tool is still valuable in providing a centralized location for stock information that people are seeking.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The founder of a financial newsletter reveals that subscriptions make up a portion of their $25 million yearly revenue, and shares their plans to turn their podcast into a visually-appealing ebook.
22:57 - 26:21 (03:24)
Summary
The founder of a financial newsletter reveals that subscriptions make up a portion of their $25 million yearly revenue, and shares their plans to turn their podcast into a visually-appealing ebook.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker notes that their tech podcast was initially geared towards a different audience, but it now attracts successful individuals from the Silicon Valley community.
26:21 - 28:49 (02:27)
Summary
The speaker notes that their tech podcast was initially geared towards a different audience, but it now attracts successful individuals from the Silicon Valley community.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
A story is shared about a parent who is promoting their child's podcast at a conference, including the offering of kinder chocolate as a marketing tactic.
28:49 - 31:29 (02:40)
Summary
A story is shared about a parent who is promoting their child's podcast at a conference, including the offering of kinder chocolate as a marketing tactic.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
A founder in the tech scene from Georgia discusses his struggle with understanding procurement while attending a conference with another founder who runs an old school service-based company.
31:29 - 34:28 (02:59)
Summary
A founder in the tech scene from Georgia discusses his struggle with understanding procurement while attending a conference with another founder who runs an old school service-based company.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker discusses various software solutions such as net suite that automate tasks and sequences of emails for large companies, making business processes more efficient.
34:28 - 41:32 (07:03)
Summary
The speaker discusses various software solutions such as net suite that automate tasks and sequences of emails for large companies, making business processes more efficient.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker discusses the significance of internal marketing and communication within a company and highlights the absence of proper tools for the same.
41:32 - 46:37 (05:04)
Summary
The speaker discusses the significance of internal marketing and communication within a company and highlights the absence of proper tools for the same.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The next few years may be an optimal time to invest in startups as smart founders are taking advantage of available funding and high valuations, despite the uncertainty surrounding the current climate.
46:38 - 49:55 (03:17)
Summary
The next few years may be an optimal time to invest in startups as smart founders are taking advantage of available funding and high valuations, despite the uncertainty surrounding the current climate.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker notes that in his experience, year five or six of a bootstrapped business is when value is really created through recruitment of quality hires and automation of processes.
49:55 - 53:43 (03:47)
Summary
The speaker notes that in his experience, year five or six of a bootstrapped business is when value is really created through recruitment of quality hires and automation of processes.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker discusses the challenges of being an engaged and patient parent while also acknowledging the financial success of certain divisions within Amazon and Twitch despite the difficulties faced by brick and mortar businesses during the pandemic.
53:43 - 1:00:49 (07:05)
Summary
The speaker discusses the challenges of being an engaged and patient parent while also acknowledging the financial success of certain divisions within Amazon and Twitch despite the difficulties faced by brick and mortar businesses during the pandemic.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The ultimate goal of an ads driven business is to get revenue from customers profitably even before paying the credit card bill.
1:00:49 - 1:04:52 (04:02)
Summary
The ultimate goal of an ads driven business is to get revenue from customers profitably even before paying the credit card bill. However, it is a major challenge as not all leads who visit the website end up becoming fully paid customers.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
Receiving funding rejections for your business can be emotional and personal, but it's important to learn from them and improve your pitching skills.
1:04:52 - 1:10:34 (05:42)
Summary
Receiving funding rejections for your business can be emotional and personal, but it's important to learn from them and improve your pitching skills. It's also important to remember that a one to three percent conversion rate is normal, and persistence is key.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
In this conversation, tips for initiating a door-to-door sales pitch are discussed such as starting off with an intriguing hook and asking the potential customer questions.
1:10:34 - 1:14:24 (03:49)
Summary
In this conversation, tips for initiating a door-to-door sales pitch are discussed such as starting off with an intriguing hook and asking the potential customer questions. The example of using a religion-based pitch and a weight loss product pitch are given.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker reflects on the value and impact of participating in organizations that push individuals to take on challenging missions and experiences, citing their personal experience of not having contact with their family for two years while participating in such a program.
1:14:24 - 1:17:45 (03:20)
Summary
The speaker reflects on the value and impact of participating in organizations that push individuals to take on challenging missions and experiences, citing their personal experience of not having contact with their family for two years while participating in such a program.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The hosts discuss the idea of creating a YouTube series where they go around knocking on doors with missionaries and offering their thoughts on religion.
1:17:45 - 1:21:25 (03:40)
Summary
The hosts discuss the idea of creating a YouTube series where they go around knocking on doors with missionaries and offering their thoughts on religion. They also touch on the importance of quality time spent with loved ones.
EpisodeLessons From Sam's New Business Venture, High Stakes Gambling, and More
PodcastMy First Million
The speaker suggests using phrases such as "you know" to stun the listener into not rejecting what they are saying, or referencing a shared experience such as being at a neighbor's house to quickly build rapport when speaking on a podcast.
1:21:25 - 1:23:56 (02:30)
Summary
The speaker suggests using phrases such as "you know" to stun the listener into not rejecting what they are saying, or referencing a shared experience such as being at a neighbor's house to quickly build rapport when speaking on a podcast.