Episode
#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
1:17:17
Published: Wed Mar 24 2021
Description
Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ --------- --------- Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) discuss: (3:38) Shaan talks about his CNBC appearance (6:45) The opportunities and riches in Chrome plugins (33:03) MFM is upping its social game (37:34) Gumroad is raising at a $100m valuation -- crazy? (49:55) Is studystream.live the future of remote studying? (57:01) The post-show --------- --------- 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.
Chapters
In this podcast, the hosts discuss their recent appearance on CNBC, a range of business ideas about Chrome extensions and their thoughts on the Michael Saylor episode, with a general "shooting the shit" vibe towards the end.
00:00 - 01:25 (01:25)
Summary
In this podcast, the hosts discuss their recent appearance on CNBC, a range of business ideas about Chrome extensions and their thoughts on the Michael Saylor episode, with a general "shooting the shit" vibe towards the end.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker shares how he named his nephews unconventional names, Ava and Jude, and how some people have reacted negatively to it.
01:25 - 03:03 (01:38)
Summary
The speaker shares how he named his nephews unconventional names, Ava and Jude, and how some people have reacted negatively to it. He also shares how he came up with the name Ava by googling its meaning.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
Despite broadcast networks having relatively low average viewership compared to their perceived reach, there is still excitement around being featured on them, particularly from older audiences who are more accustomed to traditional media.
03:03 - 06:06 (03:03)
Summary
Despite broadcast networks having relatively low average viewership compared to their perceived reach, there is still excitement around being featured on them, particularly from older audiences who are more accustomed to traditional media.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The podcast host describes a rocky start to the episode, with him feeling uneasy and uncomfortable at the beginning, causing his eyes to dart around and appear shifty.
06:06 - 08:08 (02:02)
Summary
The podcast host describes a rocky start to the episode, with him feeling uneasy and uncomfortable at the beginning, causing his eyes to dart around and appear shifty.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker plans to invest in 10 to 50 deals a year with his own money.
08:08 - 11:05 (02:57)
Summary
The speaker plans to invest in 10 to 50 deals a year with his own money. Additionally, a language learning website called Duolingo is recommended for changing select words in an article to the language being learned.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker met with several entrepreneurs and quickly identified their potential for success as a billion-dollar CEO, including one person they would bet on for just about anything and another who was already hugely successful.
11:05 - 13:16 (02:11)
Summary
The speaker met with several entrepreneurs and quickly identified their potential for success as a billion-dollar CEO, including one person they would bet on for just about anything and another who was already hugely successful.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The podcast features a discussion about how to create a successful company by looking at already successful companies while analyzing customer behaviors for implementation.
13:16 - 16:35 (03:19)
Summary
The podcast features a discussion about how to create a successful company by looking at already successful companies while analyzing customer behaviors for implementation. Duolingo, which has over 5 or 10 million users and does around $200 million a year in sales, serves as an example for successful companies.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The podcast hosts argue whether people are more familiar with TV commercials than with browser plugins, using the example of Grammarly.
16:35 - 21:31 (04:56)
Summary
The podcast hosts argue whether people are more familiar with TV commercials than with browser plugins, using the example of Grammarly.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
Dashworks offers a way to streamline workflow and improve productivity by creating custom browser start pages and searching for files using Spotlight on a Mac.
21:31 - 24:25 (02:54)
Summary
Dashworks offers a way to streamline workflow and improve productivity by creating custom browser start pages and searching for files using Spotlight on a Mac.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker suggests that a meditation Chrome extension could be an effective tool to aid in product selection, similar to the abundance of mobile app options for meditation.
24:25 - 28:52 (04:27)
Summary
The speaker suggests that a meditation Chrome extension could be an effective tool to aid in product selection, similar to the abundance of mobile app options for meditation. The discussion also touches on using data to help determine which products to purchase and the potential benefits of limiting time spent shopping online with tools like the iPhone feature that blocks access to websites after a set amount of time.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
Some cryptocurrency projects use free Bitcoin fountains as a way to market their new coins and attract users to their websites.
28:52 - 31:48 (02:56)
Summary
Some cryptocurrency projects use free Bitcoin fountains as a way to market their new coins and attract users to their websites. These fountains allow users to collect new coins for free by simply visiting the website.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker proposes a browser extension that rewards users with small amounts of Bitcoin (Satoshi's) every time they open a new tab, thus turning the process into a "hamster game" where users would be more likely to engage.
31:48 - 34:50 (03:02)
Summary
The speaker proposes a browser extension that rewards users with small amounts of Bitcoin (Satoshi's) every time they open a new tab, thus turning the process into a "hamster game" where users would be more likely to engage.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker suggests reducing quality on YouTube, while maintaining high quality on Instagram and Twitter due to the passive watching behavior on the platform.
34:50 - 38:29 (03:39)
Summary
The speaker suggests reducing quality on YouTube, while maintaining high quality on Instagram and Twitter due to the passive watching behavior on the platform. They also mention their YouTube channel and plans for producing a high number of videos each month.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The hosts discuss Gumroad, a simple platform that enables creators to sell their content and products to customers using features such as credit card payment and "pay what you want" pricing.
38:29 - 41:30 (03:01)
Summary
The hosts discuss Gumroad, a simple platform that enables creators to sell their content and products to customers using features such as credit card payment and "pay what you want" pricing.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
A company downsized to a smaller operation and focused on profitability, with an increase in revenue from $73 million to $143 million resulting in $8-9 million of net income.
41:30 - 44:51 (03:21)
Summary
A company downsized to a smaller operation and focused on profitability, with an increase in revenue from $73 million to $143 million resulting in $8-9 million of net income.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The best companies that are hot and growing get picked up by professional investors and crowdfunding is considered to be the bottom of the barrel companies.
44:51 - 49:35 (04:44)
Summary
The best companies that are hot and growing get picked up by professional investors and crowdfunding is considered to be the bottom of the barrel companies. Investing in such companies could be unpopular and may not generate good returns.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
Live streaming can provide a passive way of sharing what you're doing, and enables you to meet people in a speed dating-like manner, while avoiding isolation from spending all day at home in front of your computer.
49:35 - 55:00 (05:25)
Summary
Live streaming can provide a passive way of sharing what you're doing, and enables you to meet people in a speed dating-like manner, while avoiding isolation from spending all day at home in front of your computer.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker ponders whether the belief that media is the future of education, commerce and community is accurate, or whether it will just become standard and lose its revolutionary sheen.
55:00 - 58:34 (03:34)
Summary
The speaker ponders whether the belief that media is the future of education, commerce and community is accurate, or whether it will just become standard and lose its revolutionary sheen.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The CEO Emmett has a speaking tick where he grabs his neck and does it for like 10 minutes while he's thinking hard or disagrees with you.
58:34 - 1:03:54 (05:20)
Summary
The CEO Emmett has a speaking tick where he grabs his neck and does it for like 10 minutes while he's thinking hard or disagrees with you. A guest on the podcast talked about it and also mentioned that sophisticated techniques were used to shake out the PR speak from the guests.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker suggests addressing familiar topics or experiences with guests on podcasts to lighten up the atmosphere and make them comfortable.
1:03:54 - 1:08:09 (04:14)
Summary
The speaker suggests addressing familiar topics or experiences with guests on podcasts to lighten up the atmosphere and make them comfortable. By doing so, not only does the guest feel more comfortable, but it also creates an engaging and enjoyable podcast.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker shares how anyone who puts themselves out there, like in public speaking, develops thicker skin as they go along.
1:08:09 - 1:10:32 (02:23)
Summary
The speaker shares how anyone who puts themselves out there, like in public speaking, develops thicker skin as they go along. Negative feedback can get to you, especially when they compare you to other speakers.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker explains how he created a personalized flip board that tracks data, such as revenue, and updates every hour, using the spare hour he had from watching TV to make content and learn new skills.
1:10:32 - 1:14:22 (03:50)
Summary
The speaker explains how he created a personalized flip board that tracks data, such as revenue, and updates every hour, using the spare hour he had from watching TV to make content and learn new skills.
Episode#163 - Plugins Making Millions, Gumroad's Crazy Valuation & Why a Studying App is Going Viral
PodcastMy First Million
The speaker discusses juggling the demands of managing a business and taking care of a newborn, including dealing with theft in his wife's e-commerce store.
1:14:22 - 1:16:15 (01:53)
Summary
The speaker discusses juggling the demands of managing a business and taking care of a newborn, including dealing with theft in his wife's e-commerce store. Despite the challenges, he tries to maintain a work-life balance and enjoy his role as a new father.