My First Million #175 - Brainstorming Million Dollar Ideas with Elaine Zelby
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Apr 26, 2021 In this engaging discussion, venture capitalist Elaine Zelby, known for her strategic prowess at SignalFire, shares innovative ideas like a SaaS bundle that could rake in millions, an 'adult manual' to tackle life's challenges, and subscription-based running shoes. The trio also dives into how to effectively bring these concepts to life and explores alternative health ventures. From playful product ideas to insights on the investment landscape, Elaine's creativity sparks a wealth of intriguing entrepreneurial possibilities.
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Missed Opportunity
- Shaan invested in Deal, a company that streamlines international contractor payments, at a later stage than he initially wanted.
- Although now a unicorn, his initial hesitation due to valuation resulted in a smaller return.
Data-Driven VC
- SignalFire uses data analysis for investment decisions, including talent scores, hiring patterns, and app downloads.
- They differentiate themselves from traditional VCs by leveraging data and offering in-house business support to portfolio companies.
Synthesis: From SpaceX to EdTech
- Shaan explains the origins of Synthesis, an education company spun out of Elon Musk's Ad Astra school.
- The company uses game-based learning to teach complex subjects and has achieved significant early traction without paid marketing.