Ep 5: The First Viral Website: “Hot or Not”
Shaan Puri: Okay, so what is this? So something that entertains me. And so I wanted to create a podcast which was first and foremost, just an excuse to hang out with people who I haven’t been able to hang out with as much. So, now one way is to say, “Hey, let’s go grab a coffee.” And the other way is to say, “What if we recorded this so that other people could be a fly on the wall and hear stories or chatter about random stuff.” And I’m not trying to do it educationally. So for me it’s stories.
Shaan Puri: So the podcast is called My First Million. And the reason I picked that is because, the audience that listens to this they are entrepreneurs already or wantrepreneurs kind of thinking about, “Hey, that’s the dream. I’d love to sort of quit my job and start a business someday.” And I remember for me, and I think this applies to many people, which is the idea of a million bucks is like a magic number. Even today when everyone’s a billionaire, still if you’re a thousandaire, a million bucks sounds like all the money.
James Hong: Totally understand.
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The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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