#2269 How the “My First Million” Guy Made his Money
Nov 15, 2024
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Shaan Puri, co-host of the My First Million podcast and creator of The Milk Road newsletter, shares his entrepreneurial journey. He reveals how The Milk Road became his fastest money-making venture, growing to 250k readers in under a year. Shaan discusses his experience with Bebo, from its billion-dollar sale to revitalizing it for a fraction of the price. He highlights the importance of humor, storytelling, and audience feedback in achieving growth in the crypto space and navigates the emotional challenges of business exits, emphasizing a balanced approach to wealth and well-being.
Shaan Puri's rapid success with The Milk Road newsletter illustrates the power of engaging content and community building in the cryptocurrency space.
His experiences with Bebo and rolling funds highlight the importance of adaptability and innovation in navigating the ever-changing tech landscape.
The emphasis on humor and accessible information within The Milk Road demonstrates how differentiating content can build strong brand loyalty in competitive markets.
Deep dives
Sean Pori's Entrepreneurial Journey
Sean Pori's entrepreneurial path highlights his proactive engagement in Silicon Valley, where he quickly established himself within influential networks. He first gained recognition as one of the earliest adopters of rolling funds, demonstrating his ability to leverage new investment models. His involvement with the social network Bebo positioned him at the forefront of the tech industry, where he observed the dynamic landscape that ultimately led to its ownership transfer back to him. This experience underscored the importance of adaptability and innovation in navigating the competitive business environment.
The Success of The Milk Road
The Milk Road emerged as a significant player in the cryptocurrency newsletter space, driven by Sean's passion for the subject and his intent to create engaging content. He realized that by hosting the 'party' in the crypto world, he could connect with the industry's best minds while building a community of engaged readers. The newsletter’s design and consistent format contributed to its accessibility, making complex crypto topics relatable and enjoyable for audiences. This strategic approach resulted in rapid subscriber growth and established The Milk Road as a leading source for cryptocurrency news.
The Importance of Humor and Accessibility
A key strategy of The Milk Road’s success was its focus on humor and making information accessible without condescension. Sean emphasized the need to write content that left readers feeling smarter while providing lighthearted entertainment. The inclusion of intriguing formats, such as a humorous introduction and engaging visuals, helped maintain reader interest and loyalty. By aiming to infuse the newsletter with personality, Sean differentiated The Milk Road from its competitors, building a strong brand presence in a crowded market.
Building a Productive Team Environment
To maintain the quality of The Milk Road, Sean emphasized training a skilled team rather than taking on content creation alone, which allowed him to focus on high-level strategy. By fostering an environment where every team member contributed creatively, he cultivated a collaborative atmosphere. This approach also involved using feedback loops to refine their content, keeping it relevant and engaging. The team worked together to ensure the newsletter consistently provided value, reinforcing the need for a strong team dynamic in any entrepreneurial endeavor.
Leveraging Failures for Growth
Sean recognized that entrepreneurship often involved costly trials and setbacks, which he regarded as valuable learning experiences. He shared that failure should be viewed not as a final defeat but as an opportunity for growth and insight. This perspective allowed him to approach challenges with resilience, understanding that not all experiments would yield immediate success. Sean's journey illustrates the necessity of persistence and adaptability in the realm of entrepreneurship, framing setbacks as integral to achieving long-term goals.
Shaan Puri was exceptional at doing the Silicon Valley thing.
Still, he says his newsletter was the fastest way he’s ever made money.
Within a year of its creation, The Milk Road grew to 250k readers and a reported 8-figure exit.
Shaan Puri is perhaps most famous for co-hosting the My First Million podcast with Sam Parr, which has garnered over 200 million YouTube views since it started in 2019.
Some of his additional projects include Bebo (sold to Twitch in 2019), Blab (live-streaming service with ~4 million users), a venture fund, and his newsletter The Milk Road (250K readers in <1 year).
Sponsored by
beehiiv – the email platform that Shaan used to build The Milk Road. It’s fantastic. Try it free using our link.