#193 - How a $25 Million a Year Sweepstakes Business Works and Shaan Predicts the Future

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 23 June 2021

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shaan (@ShaanVP) and Sam (@TheSamParr) go in depth on how the Sweepstakes industry works, and Sam shares how they would use sweepstakes to grow the Hustle. The guys also discuss a business friendly take on deep fakes, a no-chicken chicken nugget, and how options contacts could work for startup founders. They end the episode with a long segment where Shaan predicts what the next version of today's big companies will look like. --------- * 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: * (1:20) Recap of episode * (6:36) Brick and mortar businesses * (10:45) Losing millions with shipping delays * (14:26) Oasis - a positive spin on deep fakes * (23:23) Multi-million dollar sweepstakes businesses * (36:39) How the Hustle thought about user acquisition * (41:12) The chicken-free chicken nugget * (44:09) Options contracts for startups * (50:16) The Future: Shaan gazes into a crystal ball * (51:13) The Future: Apple * (51:56) The Future: Facebook * (53:23) The Future: Amazon * (54:31) The Future: 7/11 * (55:28) The Future: Netflix * (56:55) The Future: Pornhub * (57:53) The Future: Domino's * (59:30) Episode close

Transcript

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0:00.0	And you're like, dude, I believe in you.
0:01.8	If you were just gonna start a new startup,
0:03.9	I'm in for 25k.
0:05.1	Like, no questions asked.
0:06.5	Yeah.
0:07.3	Yeah.
0:08.3	I feel like I could rule the world
0:10.5	and know I could be what I want to.
0:13.5	I put my all in it like no days on.
0:15.8	On a road, let's travel never looking back.
0:18.8	All right, everyone.
0:19.6	We have a new episode.
0:20.7	This one is pretty good.
0:22.0	So we talked about a couple things.
0:23.4	The first thing we talked about was Oasis,
0:26.0	which is this interesting new product that kind of,
0:28.9	it's like a deep fake, but for Zoom.
0:31.7	That's not the best description,
0:32.9	but check it out.
0:33.7	Sean says it's one of the biggest ideas
0:35.3	that he's ever heard of.
0:36.3	Second, we break down the sweepstake business.
	...

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