Episode
#217 - Why Direct-to-Consumer Companies Are Awesome to Own
1:04:25
Published: Wed Sep 08 2021
Description
In this episode Shaan (@ShaanVP) and Sam (@theSamParr) debate the merits of owning and operating a direct-to-consumer e-commerce business. Shaan breaks down some of the basic ins-and-outs you should look for with ad spends and purchase multipliers. They also discuss the state of economy and whether or not we are in a bubble (or rather, many bubbles), a new NFT project called Loot, the recent raises of Whoop and Allbirds, and Sam's friends Bitcoin gamble. --------- * 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. * The Everything Bubble: https://blog.ftx.com/blog/the-everything-bubble/ --------- Show notes: * (2:06) Back to school * (2:39) A psychedelic story * (10:23) The story that lead to a breathwork app * (17:40) An event better than SoulCycle * (19:32) The ranch retreat for deeper connections * (26:32) The 2018 Bitcoin gamble * (32:06) The Everything Bubble * (40:35) Loot - 10 words of gibberish * (42:40) Thoughts on Whoop's recent round & Allbirds S-1 * (47:58) Why DTC companies are awesome * (56:31) Shaan's award show
Chapters
In this excerpt from the "All-In" podcast, the speaker expresses his opinion on the cryptocurrency market, stating that he believes that people who invested in the early days of Ethereum deserve their wealth, whereas those who have made large amounts of money through purchasing NFTs do not.
00:00 - 01:10 (01:10)
Summary
In this excerpt from the "All-In" podcast, the speaker expresses his opinion on the cryptocurrency market, stating that he believes that people who invested in the early days of Ethereum deserve their wealth, whereas those who have made large amounts of money through purchasing NFTs do not.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker met with someone who advocated for free medicine and a bartering/trading system in society, but the speaker found the ideas too "hippy dippy".
01:11 - 04:50 (03:38)
Summary
The speaker met with someone who advocated for free medicine and a bartering/trading system in society, but the speaker found the ideas too "hippy dippy".
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker shares their experience with a friend who recommended a psychedelic retreat involving mixing a powder with water and passing around a bowl.
04:50 - 07:50 (02:59)
Summary
The speaker shares their experience with a friend who recommended a psychedelic retreat involving mixing a powder with water and passing around a bowl. The speaker argues with their friend about the idea and discusses the recent trend of attending retreats for psychedelic experiences.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker talks about an individual who raised 25 million dollars to create an international SIM card company for roaming.
07:50 - 11:32 (03:41)
Summary
The speaker talks about an individual who raised 25 million dollars to create an international SIM card company for roaming. However, soon after, roaming became free.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker describes an intense hot and cold therapy experience that can be doctor-supervised, beginner-friendly, and safer than other alternative methods.
11:32 - 16:35 (05:03)
Summary
The speaker describes an intense hot and cold therapy experience that can be doctor-supervised, beginner-friendly, and safer than other alternative methods.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker met a suave guide who's in shape, energetic, and hangs out with famous people like Bono and Jay-Z.
16:35 - 21:36 (05:00)
Summary
The speaker met a suave guide who's in shape, energetic, and hangs out with famous people like Bono and Jay-Z. The experience involved playing music with the lights turned down, and the speaker went to the guide with their coworker.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The guest talks about the difference between having a lot of weak connections versus having strong relationships with a few people, and how the latter is more valuable in terms of long-term success and happiness.
21:36 - 26:28 (04:52)
Summary
The guest talks about the difference between having a lot of weak connections versus having strong relationships with a few people, and how the latter is more valuable in terms of long-term success and happiness.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
A cryptocurrency investor's initial investment grew to over $95 million, thanks to the use of Kraken for leveraging.
26:28 - 29:47 (03:19)
Summary
A cryptocurrency investor's initial investment grew to over $95 million, thanks to the use of Kraken for leveraging.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
This is an advertisement for the Side Hustle Pro podcast hosted by Nikayla Matthews Okome, part of the HubSpot podcast network.
29:47 - 34:00 (04:12)
Summary
This is an advertisement for the Side Hustle Pro podcast hosted by Nikayla Matthews Okome, part of the HubSpot podcast network.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker discusses the problem with wash trading or painting the tape in cryptocurrency, where two parties manipulate the market price in their favor, as well as the rise of new crypto projects every other week.
34:00 - 42:06 (08:06)
Summary
The speaker discusses the problem with wash trading or painting the tape in cryptocurrency, where two parties manipulate the market price in their favor, as well as the rise of new crypto projects every other week.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The speaker talks about an article they wrote on Whoop's $200 million funding and asks the listener if they are a believer in fitness trackers or not, as the article received a large amount of traffic.
42:06 - 47:14 (05:07)
Summary
The speaker talks about an article they wrote on Whoop's $200 million funding and asks the listener if they are a believer in fitness trackers or not, as the article received a large amount of traffic.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The process of building a Direct-to-Consumer (DTC) brand is considered one of the hardest things in business, but with strong marketing and advertorial skills, it can be made possible for any business.
47:14 - 50:11 (02:57)
Summary
The process of building a Direct-to-Consumer (DTC) brand is considered one of the hardest things in business, but with strong marketing and advertorial skills, it can be made possible for any business.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
Scaling an e-commerce business can be done without having a physical office or warehouse.
50:11 - 57:41 (07:29)
Summary
Scaling an e-commerce business can be done without having a physical office or warehouse. You can start by outsourcing fulfillment or hiring someone for operations depending on the complexity of the business.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The key to success is to find your passion and build in that space.
57:41 - 1:02:13 (04:32)
Summary
The key to success is to find your passion and build in that space. Whether it's in genomics, biotechnology, cryptocurrency or any other domain, go ahead and become an expert, meet cool people doing it, take a bunch of investment, and build in that space.
Episode#217 - Why Direct-to-Consumer Companies Are Awesome to Own
PodcastMy First Million
The hosts discuss their strengths and past experiences with various tactics, and for the most part default to optimism when discussing different topics.
1:02:13 - 1:03:10 (00:56)
Summary
The hosts discuss their strengths and past experiences with various tactics, and for the most part default to optimism when discussing different topics. They end the podcast by patting themselves on the back and signing off.