#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
My First Million
Friday, 14 May
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.
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* (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