This AI Startup Idea Has 500 Million Customers Waiting For It

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 23 February 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 554: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) brainstorming unicorn startup ideas with $1B founder Jason Cohen. Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Intro (3:00) AI improved presentations (10:30) Automated Twitter hacking (13:00) Being a billionaire tinkerer (17:30) Rich vs. King (22:30) All startups are screwed up--including the ones that work (30:30) Be so good you can't fail (32:30) Consumers don't value their time (35:30) Will WP Engine go public? (37:00) Lessons from Silver Lake Capital elites — Links: • Smart Bear - https://smartbear.com/ • Jason Cohen on Twitter - https://twitter.com/asmartbear • Zeck - https://www.zeck.app/ • Rich v. King - https://longform.asmartbear.com/rich-vs-king-sold-company • Box.com - http://box.com/ • Silver Lake - https://www.silverlake.com — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd 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	I mean how many times have someone proposed something everyone's like I don't get it
0:04.4	but then someone else is like look what this is really about is blah blah blah and
0:08.0	everyone's like oh that sounds great that I want what you just said you, it's not bad information, it's bad presentation.
0:14.0	I made my whole career doing that.
0:15.6	I feel like I can rule the world. I know I could be what I want to.
0:21.1	I put my all in it like my days off.
0:25.0	All right, Jason, we're live.
0:26.0	This is how we start.
0:27.0	We just jump right into it.
0:28.0	Can I give the,
0:30.0	can I give my like brag about you intro of what I know about you and then you can kind of correct anything that I get wrong?
0:35.8	Of course. We have Jason Cohen. So Jason Cohen originally started. You had a bunch of smaller businesses, but in the early 2000s you started, was it called, it just called Smart Bear or Smarter Bear?
0:46.8	Just Smart Bear. That was 22 years ago, believe it or not.
0:50.0	So 22 years ago, you started Smart Bear, you grew it for like seven years, bootstrapped it, making millions of dollars in profit, sold it.
0:58.0	That company now has a thousand plus employees, has sold recently or traded recently for like 2 billion is that right?
1:04.9	Yeah it actually doesn't have that many employees it's more like hundreds which is part of why it's
1:08.7	impressive because it's yeah it was sold in 2020 for 2 billion and it doesn't have a thousand employees.
1:13.8	It's super profitable.
1:15.6	Like, it was publicly said then what the profits were.
1:19.2	It's 50% bottom line of profit. God, so just a printing, a cash printing machine.
1:26.0	Then you started WP Engine, of which I'm a customer of.
1:29.0	WP Engine is one of the largest web hosting companies in the world.
	...

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