My First Million

5 Internet Goldmines To Spot The Next $1B Trend | Steph Smith

377 snips
Dec 11, 2023
Steph Smith, an expert in spotting billion-dollar trends, shares her insights on harnessing expiring patents to unlock lucrative opportunities. She dives into the unexpected connections between sci-fi literature and real-world innovations, inspiring entrepreneurs to envision future advancements. The conversation also explores innovative telehealth strategies born from market shifts and the rise of unique sports trends. Smith emphasizes the importance of leveraging online resources to identify emerging market demands, all while encouraging creative independence.
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ADVICE

Patent Opportunities

  • Track patent filings to see what big companies are betting on.
  • Also, look at patent expirations for opportunities to create generic versions of products.
ANECDOTE

BlueChew's Success

  • BlueChew, a telehealth company for erectile dysfunction, was bootstrapped to massive success.
  • They capitalized on the expiration of the Viagra patent in 2017.
ANECDOTE

Winnie the Scrooge

  • Ryan Reynolds capitalized on Winnie the Pooh entering the public domain.
  • He created a commercial for Mint Mobile featuring Winnie the Scrooge.
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