What Does It Take To Become Rich? How Some People Make Millions! My First Million Podcast 04-02-2020

About this video

Sam and Shaan explore emerging technologies and business models, starting with the Sway dancing app and the broader implications of deepfakes for trust, evidence, and society. They then pivot to discussing credentialing and rating agencies as potentially lucrative low-cost businesses, before diving into Xavier Niel, a French billionaire entrepreneur who has built multiple companies and now funds ambitious projects like the 42 coding school and Station F.

Key takeaways

• Deepfakes and synthetic media will erode trust in photos, audio, and video as evidence; potential solutions include cryptographic seals on media from device makers like Apple to verify authenticity
• Credentialing agencies (like JD Power, Gallup’s StrengthsFinder, or Doug DeMuro’s car ratings) are high-margin, low-cost businesses that profit from providing trust and standardization; Sam and Shaan brainstorm versions for copywriters, developers, and young athletes
• The income-share agreement model works well for low-cost training programs; Shaan proposes a Lambda School-style bootcamp for executive assistants, a high-demand job paying $50-80K annually
• Xavier Niel exemplifies original thinkers who operate outside conventional playbooks—he built a sex hotline at 19, created the mobile carrier Free to disrupt France’s telecom market, and now invests in ambitious bets like 42 (a tuition-free coding school) and Station F (a massive startup hub); successful entrepreneurs delegate heavily and communicate via brief, text-like messages

Episode details: published May 1, 2020 · 3.1K views · 55:56 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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