We Bet This App Idea Could Be Bigger Than Reddit

APP IDEA: Reddit For Moms (0s)

• The speaker proposes an app idea called "Reddit for Moms" which is inspired by a Facebook group called "Better Than Google." This group is a community of millennial moms who share advice and support on various topics related to motherhood, lifestyle, and personal issues.
• The speaker highlights the group's success in providing valuable and trustworthy information, often surpassing the quality of Google search results. The group's content is authentic, engaging, and often includes personal stories and experiences.
• The speaker believes that this concept has the potential to be a successful business idea, as it taps into the power of community, trust, and the wisdom of the crowds. The app could offer a platform for moms to connect, share advice, and find support in a safe and supportive environment.

Capitalizing on a reverse craving (3m50s)

• The speaker argues that when something becomes extremely popular, it creates a craving for the opposite. He uses the example of Facebook's rise leading to the popularity of Snapchat, which offered a more private and ephemeral experience. Similarly, he believes the rise of AI-powered search engines will create a demand for a more human-centric approach to information seeking.
• He proposes an app that would function as a "better than Google" platform, but instead of relying on algorithms, it would be powered by a community of users, particularly moms, who would answer questions based on their personal experiences. This would provide a more relatable and trustworthy source of information, catering to a specific audience that feels underserved by traditional search engines.
• The speaker draws parallels to existing platforms like Chacha, Quora, and Etsy, highlighting how they have carved out successful niches by offering alternative approaches to information and shopping. He emphasizes that while the app concept might seem like a solved problem, the potential for a "Reddit for Moms" platform is significant, especially considering the lack of similar spaces that cater to women seeking a trustworthy and non-judgmental community.

How we use our wives to predict trends (14m30s)

• The speaker uses his wife as a trend predictor, recognizing that her consumer habits and preferences often foreshadow emerging trends. He initially dismissed her interests, but after repeatedly observing her early adoption of products and brands that later gained widespread popularity, he realized the value of her insights.
• The speaker provides several examples of his wife's trend-spotting abilities, including her early adoption of Stanley mugs, Oatley oat milk, and Kayla Itsines' fitness program. He acknowledges that his wife, as a young Millennial, is more attuned to trends emerging on platforms like TikTok, while he, as an internet native, is more likely to be an early adopter of technology.
• The speaker emphasizes that his wife's trend-spotting abilities are not limited to consumer products but also extend to influencers and online personalities. He cites Emma Chamberlain as an example, noting that his wife was an early fan of the popular YouTuber and influencer. He also mentions his own use of OpenAI as a search engine, highlighting the importance of staying ahead of the curve in terms of technology and information sources.

Shaan uses ChatGPT to make a movie (18m54s)

• Shaan was trying to acquire the rights to a book to turn it into a movie, but the rights kept bouncing around between studios and the project never got made.
• He decided to learn more about how movies are made and used ChatGPT to ask questions about the process, such as what an executive producer does.
• Shaan then used ChatGPT as a creative assistant, uploading the first scene of "The Social Network" and asking ChatGPT to write dialogue in the style of Aaron Sorkin, the screenwriter. He was impressed with the results and found it helpful for getting inspired.

How to use ChatGPT as an on-demand creative collaborator (22m56s)

• ChatGPT as a creative collaborator: The speaker describes using ChatGPT to write a scene for a movie script. He found that while the initial output was not great, it provided a starting point that he could quickly improve upon by giving feedback. This process allowed him to iterate rapidly and ultimately create a scene he was happy with. He emphasizes the speed and efficiency of using ChatGPT compared to working with a human collaborator.
• The power of AI for content creation: The speaker compares the process of writing a script to the way Erin S. describes his creative process, where he goes through many bad ideas to find one good one. He argues that AI tools like ChatGPT can help creators accelerate this process by generating many variations quickly, allowing them to focus on editing and refining rather than struggling with the blank page.
• Beehive as a solution for newsletter businesses: The speaker discusses the challenges of running a newsletter business, highlighting the high costs associated with building a platform and managing a team. He then introduces Beehive, a platform that offers a range of features for newsletter creators, including website building, email automation, and ad sales. He argues that Beehive can significantly reduce the cost and complexity of running a newsletter business, making it a more accessible option for creators.
• The story of Anne Malum and the power of passion: The speaker shares the story of Anne Malum, who started a successful non-profit and then used her savings to invest in a pilates studio. He highlights her passion and drive, emphasizing that she was willing to take risks and invest in her own ideas. This story serves as an inspiration for viewers to pursue their own passions and take action to achieve their goals.

The mind-boggling story of Solidcore (34m14s)

• Solidcore's founder, Anne, quit her nonprofit job and invested $175,000 of her savings to open a studio in Washington D.C. in November 2013. She envisioned a high-intensity Pilates-inspired workout with a cool, edgy vibe, similar to a nightclub atmosphere.
• Anne's business model was based on efficiency and high-demand classes. She focused on maximizing revenue by offering multiple classes throughout the day and utilizing a small staff. Her initial marketing strategy relied on word-of-mouth and grassroots efforts, which proved successful in attracting customers.
• Solidcore experienced rapid growth, generating $90,000 in revenue during its first month. By year two, Anne was able to pay herself a $1 million salary due to the business's low operating costs and high demand. The company continued to expand, reaching 11 studios by 2016 without taking any outside funding.
• Despite the challenges posed by the COVID-19 pandemic, Solidcore eventually secured private equity funding and sold the business for an estimated $250 million after 10 years. Anne reportedly took home approximately $90 million in profits throughout the company's growth and sale.

The insane confidence of Anne Mahlum (37m21s)

• Anne Mahlum is a highly successful entrepreneur with an incredible growth mindset. She is described as having an unwavering faith in the process and a willingness to take calculated risks. The speaker was particularly impressed by her ability to separate emotion from logic when making investment decisions.
• Mahlum's success story is highlighted through her real estate investment in the Dominican Republic. She invested a significant portion of her net worth, demonstrating her confidence in her research and expertise. This investment ultimately yielded a substantial return, further showcasing her ability to make bold decisions.
• Mahlum's fitness chain, Solicore, is a testament to her business acumen. The chain has achieved significant success, with rumors of a potential sale for $800 million. The speaker is intrigued by Solicore's profitability and its seemingly organic growth, attributing it to Mahlum's expertise in branding and community building.

There's no business that looks good on the inside (41m40s)

• The speaker discusses the concept of "trusting the process" and how it doesn't always align with reality. They argue that even successful businesses can feel uncertain and unstable, and that doubts are a natural part of the process.
• The speaker then shifts to the idea of having a "growth mindset" and the importance of acquiring information and trusting in the process of learning. They highlight the example of the woman in the video who confidently invested her life savings and learned about stock investing, demonstrating a willingness to learn and trust her own judgment.
• The speaker concludes by referencing a quote from Orin Hoffman, who stated that "there's no such thing as a good business on the inside." This emphasizes the point that even successful businesses often face internal challenges and uncertainties.

They drove a clown car into a gold mine (44m7s)

• The speaker describes Twitch as a company that was incredibly messy and chaotic on the inside, despite its success. They compare it to a clown car driving into a gold mine, meaning that despite internal flaws and inefficiencies, Twitch benefited from the massive growth of the gaming industry.
• The speaker explains that Twitch's success was largely driven by external factors, such as the popularity of specific games like Fortnite and the release of new gaming devices. They use the analogy of surfers waiting for waves, highlighting that Twitch didn't create the growth but rather rode the wave of the gaming industry's popularity.
• The speaker acknowledges that there might be a counter-argument from Twitch employees who believe that internal improvements contributed to their growth. However, based on their personal experience, they believe that the company's success was primarily driven by external factors.

Who's your Elon? (47m55s)

• The author believes that people become like the people they admire, so it's important to choose your role models carefully.
• The author argues that the default "North Star" for entrepreneurs is often someone like Elon Musk or Steve Jobs, but that this isn't necessarily the best choice for everyone.
• The author admires Elon Musk's accomplishments but doesn't want to emulate his lifestyle, particularly his work-life balance and personal life. The author prefers to admire people who are more polymathic and explore a variety of interests and experiences.

Why Ben Franklin and Jesse Itzler are Shaan's entrepreneurial heroes (50m34s)

• Shaan admires Ben Franklin for his diverse and impactful career, spanning science, journalism, politics, and even music. He sees Franklin as a model for achieving success in multiple fields.
• Shaan also admires Jesse Itzler, a modern-day entrepreneur who has built a successful career in various industries, including music, fitness, and business. He finds Itzler's diverse career path inspiring.
• Shaan is impressed by Neil Centurio, a San Diego-based entrepreneur who has built a successful career in various fields, including Hollywood, real estate, and biotech. He admires Centurio's willingness to try new things and his zest for life.

Bryan Johnson's aging leaderboard (55m10s)

• The chapter discusses Brian Johnson's "Rejuvenation Olympics," a website and leaderboard that tracks individuals' biological aging based on bloodwork results. Participants take expensive blood tests and upload their results to the website, where they are ranked based on their "dune pace score," which measures how slowly they are aging.
• The website has a partnership with True Diagnostics, the company that provides the blood tests. To be verified on the leaderboard, participants must take an average of three tests, which are costly.
• The speakers discuss the demographics of the top-ranked individuals on the leaderboard, noting that many are wealthy and already health-conscious. They also highlight the case of Julia Gibson Clark, a woman who ranks high despite not being wealthy or a professional biohacker, demonstrating that healthy lifestyle choices can significantly impact biological aging.
• The speakers express their frustration with the website's lack of user-friendliness, particularly the absence of links to social media profiles for the ranked individuals. They believe this feature would make the website more engaging and informative.
• The speakers discuss Brian Johnson's genuine interest in reversing aging and his commitment to the cause, despite potential financial benefits. They believe he is truly mission-driven and not simply motivated by profit.
• The speakers acknowledge that some people may be skeptical of Johnson's claims and intentions, but they express their belief in his authenticity and commitment to the cause.
• The chapter concludes with a humorous discussion about Johnson's experiment to improve his nighttime erections, highlighting the unconventional and sometimes humorous aspects of his approach to aging research.