How Blockworks Bootstrapped To A +$20M/yr Crypto Empire

My First Million

Hubspot

Investing, Entrepreneurship, Business

4.7 • 2.9K Ratings

🗓️ 28 September 2023

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 500: Sam Parr (https://twitter.com/theSamParr) talks to Jason Yanowitz (https://twitter.com/JasonYanowitz) founder of Blockworks, which covers crypto news, information and analytics. Jason shares the revenue numbers behind Blockworks, the secret to hosting profitable events, and why he would put 100% of his portfolio in crypto. Want to see more MFM? Subscribe to our YouTube channel here. Want MFM Merch? Check out our store here. Want to see the best clips from MFM? Subscribe to our clips channel here. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com/ Check Out Shaan's Stuff: • Try Shepherd Out - https://www.supportshepherd.com/ • Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant • Power Writing Course - https://maven.com/generalist/writing • Small Boy Newsletter - https://smallboy.co/ • Daily Newsletter - https://www.shaanpuri.com/ — Show Notes: (0:00) Intro (1:45) Blockworks revenue and profitability (4:00) How to crush it with a conference (10:00) Conferences are really 3-day marketplaces (15:00) Jason's accidental MLM success story (23:00) The difference between MLMs and pyramid schemes (27:00) How Sam Ovens inspired Blockworks (30:00) The fallacy of founder origin stories (35:00) How Sam is optimizing his life (42:00) Business Idea: Beehiiv for Conferences (45:00) Business Idea: Hair transplants for the masses (48:00) Blockworks Research (55:00) Where is Jason putting his money? (1:00:00) How Sam thinks about crypto — Links: • Blockworks - https://blockworks.co/ • Blockworks Research - https://www.blockworksresearch.com/ • Blockworks Twitter - https://twitter.com/blockworks_ • Jason’s Twitter - https://twitter.com/JasonYanowitz • Sam Ovens Consulting company - https://www.consulting.com/ • Peter Turchin - https://peterturchin.com/ • beehiiv - https://www.beehiiv.com/ • Eventbrite - https://www.eventbrite.com/ • Splash - https://splashthat.com/ • Hopin acquisition - https://tinyurl.com/2zn2kk3p • ‘Elon Musk,’ by Walter Isaacson - https://tinyurl.com/bde53vpr • Jeff Bezo’s Regret Minimization Framework - https://tinyurl.com/m34hmyfk Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0	And the real story of block was I went home that afternoon. I was like, I'm launching a consulting firm to help companies figure out a theorem hours after learning about a theorem.
0:20.4	All right, we're live. This is it. This is how we start, man. We get in. You just rip into it, huh?
0:24.4	We get right into it. Where are you calling from? You're a place looks nice. Is this your apartment? Yeah. Yeah, this is the block works office here
0:29.3	We got a new office like about a year ago in Manhattan. How many how many people do you have like 60? I think we're up to 65. Maybe we had six people start this week.
0:40.9	So I think I think that might put us at 65. What's the pitch for what you are? You're just I mean at the high level, a crypto media company, but what did I tell you the other day?
0:50.5	I go, you do everything right. You do things the right way. Wait, let me just get this straight. So Sean not joining us because do you know that?
0:58.3	Sean told Sean DMed me one day. He gave me his cell phone. He said, dude, hit me up. Would love to meet and chat. I've never met the guy.
1:05.4	I he gives me a cell phone. I text him. I go, yeah, it's Jason. Yeah, no, it's what's up, man. I said something about friend tech guy ghosted me never just left me on red.
1:14.2	Really? This was going to be my time on air to call out Sean, but well, you call them out. No, Sean's out. Sean's getting a nose job. He's out with surgery this week.
1:23.8	Really? Yeah, but but he'll he'll hear this.
1:27.6	All right. Sean's a ghost or man. Sean is a ghost or I give him a hard for I give him a hard time for that.
1:33.7	But you know, he brings the heat. So he gets a pass.
1:36.9	So what are we talking to that? I don't know, man. Tell people like you're under the radar, but your business is shockingly big. And I think it's going to be incredibly successful. What do you? What's like the pitch for what block works is?
1:47.8	Blockwork started six years ago. So my co-founder Mike and I started it in December of 2017. Basically, the thesis back then, which remains the same.
1:56.7	I think we've got a lot wrong over the years, but one thing we got really right was the thesis.
2:01.4	Which is that crypto as an asset class and as an industry is going to grow exponentially over the coming years. And this was back in 2017 when most of the information about the asset class
2:11.2	was basically like siloed on Reddit and Twitter. And our thesis was that as the industry grew exponentially, those investors who and professionals who came into the industry, they weren't going to, you know, listen to
2:25.4	crypto panda or like crypto whale about this new asset class. They wanted this professional source of information, kind of like a Bloomberg or Wall Street Journal for crypto.
2:34.0	So yeah, we said, Hey, let's go build it. And that was six years ago. So what we've built is basically for the first five years, we built a media media platform media company, right?
2:42.7	We own the largest network of podcasts in the industry. We have a couple of big newsletters. We have, I think the best team of reporters and journalists in the industry, we own a couple of the large conferences in the industry.
2:53.8	And we built this big media company. And a year ago, we thought the industry was ready for like deeper. What I call almost like bottom of the funnel information about crypto data and
3:03.4	analytics, research, protocol governance. And that is our subscription platform that we launched called blockworks research. So that was a year ago. So that's what, yeah, we're a media and information platform just about crypto crypto native media and
	...

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