In this episode Shaan (@ShaanVP) and Sam (@theSamParr) debate the merits of owning and operating a direct-to-consumer e-commerce business. Shaan breaks down some of the basic ins-and-outs you should look for with ad spends and purchase multipliers. They also discuss the state of economy and whether or not we are in a bubble (or rather, many bubbles), a new NFT project called Loot, the recent raises of Whoop and Allbirds, and Sam's friends Bitcoin gamble.---------* 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: https://refer.fm/million* 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.* The Everything Bubble: https://blog.ftx.com/blog/the-everything-bubble/---------Show notes:* (2:06) Back to school* (2:39) A psychedelic story* (10:23) The story that lead to a breathwork app* (17:40) An event better than SoulCycle* (19:32) The ranch retreat for deeper connections* (26:32) The 2018 Bitcoin gamble* (32:06) The Everything Bubble* (40:35) Loot - 10 words of gibberish* (42:40) Thoughts on Whoop's recent round & Allbirds S-1* (47:58) Why DTC companies are awesome* (56:31) Shaan's award show

In this episode Shaan (@ShaanVP) shares why you should ask for that raise and Sam (@theSamParr) pokes holes in the $75K happiness study. They also debate whether it is better to own the entirety of a smaller company or a piece of a bigger one. The two also talk about MMA fights and how you can package that appeal, the future of maps, and a fractional vacation home company. Sam also shares the story around Wayne Huizenga, this week's Billy of the Week.---------* 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: https://refer.fm/million* 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.---------Show notes:* (1:48) Spending time in the Hamptons* (3:11) The Jake Paul fight* (6:59) The local MMA fight* (11:00) Chasing the sensation of feeling alive* (15:06) The $75K happiness study* (19:50) How Shaan got insights on his teams wellbeing* (24:08) The future of maps* (34:10) Billy of the Week: Wayne Huizenga* (44:48) Pacasso for your next vacation home* (49:48) To own all of a small company or a piece of a big one* (59:40) Ask for a raise today

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) predict what venture capital will look like in the future. Shaan breaks down the different ways someone can win as a VC and also explains how SPACs work. The guys also talk about a company providing dummy data, the allure of a recruiting agency, and we learn about Harold Alfond - this week's billy of the week.---------* 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: https://refer.fm/million* 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.---------Show notes: * (3:30) Sam's book of the week* (9:58) Tonic Fake Data* (17:18) Recruiting as a solopreneur* (21:10) Amazon liquidation * (31:22) Sam's Costco return story* (34:24) Shaan's Halloween costume rule* (37:09) Billy of the week - Harold Alfond* (48:18) Charitable donations* (57:15) The future of venture capital* (63:03) How SPACs work* (70:22) The ways to win as a VC* (74:53) The $200 million dollar graffiti artist

This special episode is a crosspost from the Indie Hackers Podcast with Courtland Allen. Sam and Shaan were interviewed by Courtland a few months ago and they gave a behind-the-scenes look at how they think about building out different income streams as a solo creator.---------* Follow Indie Hackers: https://www.indiehackers.com/podcasts* 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: https://refer.fm/million* 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.---------Show notes:* (1:05) On Courtland selling to Stripe* (4:30) What makes My First Million special* (12:05) How a founder can succeed after being acquired* (17:49) Shaan's path to solopreneur* (26:19) How you make money with a rolling fund* (32:52) Ideas around astrology and horoscopes* (41:14) The tools in the solo creator toolbox* (43:14) Who is having the most fun doing what they do* (53:35) What are Sam & Shaan's end game?* (1:01:41) How to have it all

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) are joined by Ramit Sethi (@ramit), the founder of I Will Teach You To Be Rich. They start off talking about course businesses and Ramit shares what he's learned running courses for over 15 years. Ramit shares a few ideas for businesses and then the trio talk about different strategies around investing. Shaan shares why his approach is so different from what Ramit recommends, and he breaks down his own asset allocation. At the end Sam & Ramit share their personal money rules.---------* Follow Ramit on Twitter: https://twitter.com/ramit* Ramit's new podcast: https://iwt.com/podcast* 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: https://refer.fm/million* 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.---------Show notes:* (1:06) Ramit's new podcast* (5:02) An update on Shaan's Power Writing course* (7:07) Ramit's course business* (11:30) Who is Jay Abraham* (16:43) Should MFM get a new name?* (20:14) How long can Ramit run his empire* (24:11) Ramit on trolls* (27:31) The history of courses* (34:12) Ideas around pets* (37:35) Ideas around cosmetics* (39:54) How Ramit would differentiate a product* (43:47) Ramit's money hacks* (46:00) How Shaan approaches investing* (47:00) A little anecdote about camera issues* (47:58) Back to Shaan's investment approach* (50:47) What game are you playing and what risk can you tolerate?* (53:26) What Shaan's goals are with investing* (57:11) Ramit's 10 money rules* (59:35) Sam's money rules* (1:02:09) Taking out loans on your assets* (1:05:33) How Ramit thinks of risk versus rewards* (1:17:10) Ramit on Sam's engagement ring story* (1:21:04) It's not all about the metrics

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) break down community businesses and different ways you can build a community. They also talk about the law of reciprocity, the ad Sam wrote that competitors have stolen, and the importance of user generated content for digital ads. They end the episode talking about how technology will change construction sites and share a few Instagram accounts worth following.---------* 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: https://refer.fm/million* 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.---------Show notes:* (1:00) The law of reciprocity* (6:51) What is Friends with Benefits* (12:56) Why communities can be great businesses* (14:58) How big can token backed communities be?* (17:33) Soho House went public* (19:45) Should MFM make a social token?* (22:46) Set your data free* (29:36) Communities of communities can be big businesses* (30:54) User generated content & Sam's great ad copy* (36:45) The hot girl side hustle* (46:33) The future of construction sites* (53:41) Remote arcade games* (57:02) Some accounts to spice up your Instagram feed* (1:00:01) The man behind Telegram

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) discuss alternatives to a 40 Hour Workweek. They start off with Tim Ferriss & his ideas around mini retirements followed by the work ethic & career drive of people outside the US. They then dive into Naval Ravikant and his origin story, his thoughts on work, and his vision for the future of work. They end the episode with a few stories about rattlesnakes and bees.---------* 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: https://refer.fm/million* 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.---------Show notes:* (1:04) The 40 Hour Workweek* (3:56) The Science of Fear* (7:57) What Shaan learned from The Four Hour Workweek* (11:23) Mini retirements* (13:35) What it's like in other countries* (17:35) Living like a lion or cow* (20:04) Shaan on Naval* (27:05) How to get rich without getting lucky* (29:27) The future of work* (36:51) The history of writing* (41:17) Beware of the rattle snack* (48:05) Bert behind Bert's Bees

In this episode Shaan (@ShaanVP) is joined by startup growth expert Julian Shapiro (@julian). Julian shares the 3 growth trends he noticed successful startups were implementing to grow at astonishing rates. The pair also discuss different publishing schedule approaches and how to write an effective Twitter bio. They end the episode talking about what each of them would do if they were to do something different.---------* Follow Julian on Twitter: https://twitter.com/julian* 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: https://refer.fm/million* 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.---------Show notes:* (1:03) Julian on Podcasting* (4:45) The 3 cheat codes* (5:44) #1 - Give your customer a no-brainer decision* (6:15) #1A - Give them money (in a sustainable way)* (13:02) #1B - Make it super low friction* (19:48) #2 - Billboarding & naturally encourage sharing* (30:13) #3 - Self-liquidating funnels* (40:58) Why publishing erratically works for some* (45:58) Julian on Twitter bios* (50:44) What Julian would do if he was doing something different* (54:20) What Shaan would do* (57:55) On stand up comedy and what makes a good joke* (1:02:13) What the best storytellers have in common* (1:04:27) Where to find Julian

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) dive into a few industries and talk about the players behind them. They start off talking about car dealerships and the handful of politicians who make major coin through them. They then transition to celebrities and how some have leveraged their name to make even more money. They finish the episode with a few anecdotes on how some people started to accumulate wealth and a snippet on anti-aging and scientific discovery.---------* 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: https://refer.fm/million* 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.---------Show notes:* (0:59) Intro* (2:47) The Skip Barber racing school* (6:48) Digitizing the gun range* (10:57) The politicians making money with car dealerships* (23:06) The cool growth hack used by Spoonflower* (28:48) Celebrities making bank of their celebrity* (35:26) George Clooney hooking up his friends with $1M cash* (39:51) A feel good story about Shaan's trainer* (41:58) The Bar & Bat Mitzvah hack to wealth* (44:57) A unique twist on Universal Basic Income - the birth dividend* (47:35) Aubrey de Grey and how scientific breakthroughs work

In this episode Gary Vaynerchuk (@garyvee) joins Sam (@theSamParr) and Shaan (@ShaanVP) to give a master class on NFTs. Gary shares his predictions on the future of NFTs and how they'll be (eventually) used by everyone. He also talks about the growth of VaynerX, his love of garage sales, and the launch of VeeFriends & VeeCon. At the end, he shares the biggest lesson he learned from passing on investing in Uber (twice).---------* 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: https://refer.fm/million* 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.---------Show notes:* (0:58) Intro* (5:14) The headcount growth of VaynerX* (11:44) On Shaan's Clubhouse prediction* (13:39) Gary's conviction to the game* (17:44) Shaan's first foray into NFTs* (19:53) Gary's prediction on the future of NFTs* (23:24) Revisiting the purchase of Michael Jordan's house* (28:03) The story of the Spirits of St. Louis* (29:21) The what, not the how, for NFTs* (32:53) VeeFriends and VeeCon* (39:24) On Gary's master plan to buy and grow existing brands* (43:28) How Gary thinks about creating content* (45:52) Putting wins on the board* (47:28) Missing on Uber