#125 - What is the Buy, Borrow, Die Process?

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 4 November 2020

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) host the podcast today with a special guest Aaron, Shaan’s brother-in-law. Shaan’s brother-in-law Aaron joins the podcast and gives some hot takes on “tech-bros” (1:13), Aaron breaks down the “Buy, Borrow, Die” method to avoid paying taxes (3:20), Sam breaks down how he lived in San Francisco when he had no money (17:45), Shaan and Sam talk about the “buy nothing” lifestyle and Buy Nothing Project, a big player in that space (29:32), Sam and Shaan go deep on recycling and how little is actually put back to use (34:35), Shaan explains an AI product that replaces mundane medical care tasks and how boring businesses can make a ton of cash (37:20), the guys kick around important people and how to create a vision for your own life (43:30). Thank you to our partners this episode: Podium! Podium is an all-in-one SaaS tool that helps your business get reviews. Go to podium.com/mfm for 20% off and a $150 Amazon gift card. Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. See acast.com/privacy for privacy and opt-out information.

Transcript

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0:00.0	All right, let's take a second to talk about our sponsor today, HubSpot.
0:04.0	They have two new AI tools that are pretty cool I want to tell you about.
0:06.5	So the first one is Content Assistant.
0:09.1	So we know that Content's key for driving revenue because you write content, you get traffic,
0:14.7	the traffic turns into leads, the leads turn into revenue.
0:17.0	But not everybody's great at doing content.
0:19.3	And so the content assistant is basically an AI based tool that will help you come up
0:24.3	with blog post ideas or even draft the blog post or an outline for it.
0:28.9	And you can use it to write the copy that you need for your website, your landing page,
0:31.9	your prospecting emails, whatever you need to write content, this can do it for you.
0:35.6	It's built on top of OpenAI's GPT model.
0:38.5	And the differentiator is that it's an all-in-one AI power tool that's designed to help you
0:42.3	get more done, save your time, and help you grow your business faster.
0:45.9	So that's the first one.
0:46.9	The second one is ChatSpot.
0:48.4	So ChatSpot, think of that like a Chatbot that you can talk to, just ask your questions,
0:52.8	like, hey, what's our web traffic or revenue?
0:54.7	Or, hey, is there anybody in our CRM that fits this criteria?
0:57.8	And it'll just pull it up.
0:59.2	Or you can ask it to do things like, hey, draft a email follow up to this prospect.
1:03.8	So ChatSpot has got your back.
1:05.6	Think of it like an intelligent assistant.
	...

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