Episode
#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
1:21:20
Published: Wed Mar 31 2021
Description
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: refer.fm/million --------- --------- Sam Parr (@TheSamParr), Shaan Puri (@ShaanVP) and Jack Butcher (@JackButcher) discuss: (1:37) How Jack Butcher went from struggling founder to listing an NFT for $76m (13:38) How Sam researches wealthy people and discovers profitable businesses in the process (32:44) Why it pays to be early on new platforms (47:30) Jack explains why he's listing his art for sale for $76m (57:40) BitClout's incredible growth strategy (1:09:12) The reputational problem NFTs/Bitcoin/Bitcloud pose and are they just fads --------- --------- 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
The hosts discuss A Bit Cloud, a new cloud storage platform founded by a designer, and the potential benefits it could offer users.
00:00 - 03:29 (03:29)
Summary
The hosts discuss A Bit Cloud, a new cloud storage platform founded by a designer, and the potential benefits it could offer users. Later on in the episode, they also touch on the longevity and continued relevance of dictionary.com.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
A man who was making pitch decks starts creating crypto art templates which become popular and lead to a community of people who want to learn how to make these templates themselves.
03:29 - 06:24 (02:54)
Summary
A man who was making pitch decks starts creating crypto art templates which become popular and lead to a community of people who want to learn how to make these templates themselves.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
An artist known as 'People' sells the highest-priced NFT in history featuring a Jack Butcher inspired design.
06:24 - 09:41 (03:17)
Summary
An artist known as 'People' sells the highest-priced NFT in history featuring a Jack Butcher inspired design. The world of NFTs is booming with unique and creative opportunities in the art and business world.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The value of art is subjective, and pricing a piece of artwork for millions of dollars doesn't necessarily require a sale for it to create value, as seen with Beeple's NFT artwork that was initially priced at $7 million and could potentially sell for $77 million.
09:41 - 12:50 (03:09)
Summary
The value of art is subjective, and pricing a piece of artwork for millions of dollars doesn't necessarily require a sale for it to create value, as seen with Beeple's NFT artwork that was initially priced at $7 million and could potentially sell for $77 million.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The speaker wants to discuss real estate investing and finding out who the buyers are for different properties, before briefly touching on NFTs.
12:50 - 15:16 (02:26)
Summary
The speaker wants to discuss real estate investing and finding out who the buyers are for different properties, before briefly touching on NFTs.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
Michael Kassner, the CEO of Dictionary.com, shares insights on their website's traffic and revenue, as well as discussing the impact of current events on word searches.
15:16 - 17:59 (02:42)
Summary
Michael Kassner, the CEO of Dictionary.com, shares insights on their website's traffic and revenue, as well as discussing the impact of current events on word searches.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
Chess has been gaining popularity online with increased traffic for searches related to chess boards and how to get better at chess, which is different from the flyby traffic of dictionary or thesaurus websites.
17:59 - 19:52 (01:53)
Summary
Chess has been gaining popularity online with increased traffic for searches related to chess boards and how to get better at chess, which is different from the flyby traffic of dictionary or thesaurus websites.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The New York Times' business model is not well known to most people, but a significant portion of their revenue comes from popular word puzzle games in their app.
19:52 - 25:12 (05:19)
Summary
The New York Times' business model is not well known to most people, but a significant portion of their revenue comes from popular word puzzle games in their app. They are exploring acquiring Dictionary.com and other properties to boost their reach and revenue through the distribution of these games.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The founder of the gaming company, Jellysmack, describes how he created a billion-dollar company from small beginnings by focusing first on engaging content and later partnering with creators.
25:12 - 29:04 (03:51)
Summary
The founder of the gaming company, Jellysmack, describes how he created a billion-dollar company from small beginnings by focusing first on engaging content and later partnering with creators.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The speaker discusses how learning about others' unique experiences and choices, such as having a virtual assistant or a private chef, can open up one's mind to what is possible in their own life.
29:04 - 32:38 (03:34)
Summary
The speaker discusses how learning about others' unique experiences and choices, such as having a virtual assistant or a private chef, can open up one's mind to what is possible in their own life.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
Sean, a power user of various platforms for digital ownership, invested five grand in Ethereum and ICOs, leading some to question why he was promoting a different digital platform.
32:38 - 35:17 (02:38)
Summary
Sean, a power user of various platforms for digital ownership, invested five grand in Ethereum and ICOs, leading some to question why he was promoting a different digital platform. He later revealed his success in creating a project that sold for $750 million.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
Investing time and money into things that might fail can actually yield great results and opportunities, such as building a network or making money, if just one investment hits.
35:17 - 38:59 (03:41)
Summary
Investing time and money into things that might fail can actually yield great results and opportunities, such as building a network or making money, if just one investment hits.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The conversation dives into investing in individuals through cryptocurrency and how it differs from Patreon or Substack.
38:59 - 45:42 (06:43)
Summary
The conversation dives into investing in individuals through cryptocurrency and how it differs from Patreon or Substack. There is also discussion about the involvement of crypto enthusiasts in the technology space.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The speaker likes investing in startups and the stock market for the challenge and potential financial gain, but is excited about a new technology that has opened up new capabilities previously unavailable.
45:42 - 49:17 (03:35)
Summary
The speaker likes investing in startups and the stock market for the challenge and potential financial gain, but is excited about a new technology that has opened up new capabilities previously unavailable.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The speaker discusses the world of NFTs as a memetic status game, with various incentives driving people to buy them as investments.
49:17 - 53:10 (03:52)
Summary
The speaker discusses the world of NFTs as a memetic status game, with various incentives driving people to buy them as investments. He also mentions creating graphics to capture people's attention and present them with a different idea or product.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
Jack Mallers is an artist and entrepreneur who is capitalizing on the opportunity presented by the booming field of NFTs to merge his creative visual work with technology, culminating in great financial success.
53:10 - 59:54 (06:43)
Summary
Jack Mallers is an artist and entrepreneur who is capitalizing on the opportunity presented by the booming field of NFTs to merge his creative visual work with technology, culminating in great financial success.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
This podcast episode discusses the power of influencers to hype products, even if they personally think it's stupid.
59:54 - 1:05:25 (05:31)
Summary
This podcast episode discusses the power of influencers to hype products, even if they personally think it's stupid. The ability to convince people of a product's worth can lead to huge payouts for influencers.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The endorsement of promoting cryptocurrencies carries reputational risks for individuals and has the potential to either make them look like a genius or an idiot scam artist.
1:05:25 - 1:09:22 (03:57)
Summary
The endorsement of promoting cryptocurrencies carries reputational risks for individuals and has the potential to either make them look like a genius or an idiot scam artist.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
In this episode, the speaker talks about the risks of investing in crypto art and the potential loss of reputation that comes with it, pointing out that it takes a long time to build a reputation, but it's easy to lose it in a day.
1:09:22 - 1:18:56 (09:34)
Summary
In this episode, the speaker talks about the risks of investing in crypto art and the potential loss of reputation that comes with it, pointing out that it takes a long time to build a reputation, but it's easy to lose it in a day.
Episode#165 with Jack Butcher - Selling a $76m NFT, How to Research Wealthy People & How BitClout Went Viral
PodcastMy First Million
The discussion revolves around the challenges of growing a business and how it's easier to sell a picture for $77 million than to create a top 10 business podcast.
1:18:56 - 1:20:20 (01:23)
Summary
The discussion revolves around the challenges of growing a business and how it's easier to sell a picture for $77 million than to create a top 10 business podcast.