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    • The Power of Discomfort: How Uncomfortable Environments Influence DecisionsCreating discomfort can be a strategic tactic to gain control and influence decisions in certain situations, as demonstrated by examples of intentionally uncomfortable environments leading to desired outcomes.

      Creating discomfort or an uncomfortable environment can be a strategic tactic in certain situations. Both Sam Parr and Shaan Puri share examples where intentionally making the room freezing or uncomfortable led to desired outcomes. It was mentioned that a billionaire investor made his office freezing to unsettle visitors from the Securities and Exchange Commission (SEC), and in another instance, the negotiators were left in a freezing room for hours to exert power and establish their dominance. This conversation highlights the psychological impact of discomfort and how it can influence decisions and actions. It suggests that creating an uncomfortable atmosphere can sometimes be an effective strategy to gain an advantage or control a situation.

    • The importance of professionalism and integrity in business relationshipsUnprofessional behavior may provide short-term gains, but it ultimately damages relationships and results in missed opportunities. Maintaining trust and ethical conduct is essential for long-term success in business.

      It is important to maintain professionalism and integrity in business relationships. In this conversation, Shaan Puri shares his negative experience with a former contractor who exaggerated his accomplishments and breached confidentiality by publicly discussing their work together. Puri emphasizes that these actions ultimately hurt the contractor's reputation and resulted in potential clients deciding not to work with him. Both Puri and Sam Parr acknowledge the short-term gains that can come from unprofessional behavior, but highlight the long-term consequences, including damaged relationships and missed opportunities. It serves as a reminder that ethical conduct and maintaining trust are crucial for sustained success in business.

    • Leveraging Co-registration for Rapid GrowthCo-registration can be an effective marketing tactic for quickly attracting a large number of users, but businesses should be cautious of varying subscriber quality and changing user behavior affecting open rates.

      Co-registration, a marketing tactic where users are asked to register for additional services or newsletters in exchange for perks, can be a successful strategy for rapid growth. Although typically associated with scammy practices, co-reg can also be used in a legitimate way to attract a large number of users. By leveraging platforms like Product Hunt and implementing co-reg, businesses like Sam Parr's were able to add thousands of new customers daily. However, it's important to note that the quality of these subscribers may vary, with a lower intent and engagement compared to high-quality organic growth. Additionally, open rates for newsletters have become less reliable due to changes in technology and user behavior.

    • Rethinking Email Open Rates: Focus on Engaging Subscribers and Organic GrowthEngaging with subscribers personally and focusing on organic growth leads to higher reply rates, better understanding of the audience, and a sustainable business. Transparency and alignment are crucial for success in advertising.

      Measuring open rates for emails is no longer as reliable as it used to be. Instead, click-through rates and engagement with ads and content are now more important indicators. The conversation highlights the experience of trying co-registration to achieve growth but realizing that the quality of subscribers was lacking. This led the participants to reevaluate their sources and focus on organic growth. They found that personally reaching out to subscribers resulted in a higher reply rate and a better understanding of their audience. The conversation also emphasizes the importance of real, engaged subscribers for building a sustainable business. Finally, it touches on the flaws and challenges of advertising and the need for alignment and transparency in order to achieve success in this field.

    • The Reality of Meeting One's HeroesBeing genuine and relatable can often resonate more with listeners than perfect professionalism.

      Meeting one's heroes can often lead to disappointment. Sam Parr expressed his experience of interviewing Laird Hamilton, whom he admired and looked up to. However, the reality of meeting someone he admired was different from his expectations. He preferred to keep him as an idea rather than a person he could potentially be on the same level with. This conversation also highlighted the unexpected success of a young podcast host who quickly rose to the top, interviewing notable figures like Drake. Despite her unconventional style and lack of preparation, she managed to attract a large audience. This serves as a reminder that sometimes being genuine and relatable can resonate more with listeners than perfect professionalism.

    • Bobby Alltuff: From Mommy Tiktoker to Successful PodcasterOvernight success stories are possible with unique and captivating content. Bobby Alltuff's rise to fame proves that transitioning from one platform to another can lead to rapid popularity and success.

      Bobby Alltuff, a young podcaster, has rapidly gained popularity and achieved success in a relatively short period of time. Despite her initial presence as a "mommy Tiktoker," she has transitioned into a podcaster with a clear and distinct style, as well as impressive interviews with celebrities like Drake. While her TikToks may not reflect her podcasting persona, she has managed to capture the attention of audiences and establish a strong brand. The conversation also highlights the curiosity surrounding her rise to fame and the mystery surrounding her persona. Overall, Bobby Alltuff's swift success serves as a reminder that overnight success stories do exist and can be achieved through unique and captivating content.

    • Organizing Chaos Singles Parties: A Fun and Unique Valentine's Day ExperienceCreative thinking and leveraging social media platforms can lead to successful event planning, creating a fun and inclusive environment for singles to mingle and enjoy themselves.

      A woman named Cassidy Davis came up with the idea of organizing chaos singles parties on Valentine's Day. She invited her single friends to match with someone on Tinder and bring them as a plus one to a house party. The idea gained popularity and Cassidy started hosting these parties in different cities, partnering with Tinder and getting paid for it. The concept attracted hundreds of people who wanted to have a chaotic singles party experience. The parties became a big hit and started taking place in legitimate venues. This unique idea shows how creative thinking and leveraging social media platforms can lead to success in event planning and creating a fun and inclusive environment for singles to mingle and enjoy themselves.

    • Unconventional Methods and Evolving Dating Norms: Embracing Change in the Digital AgeThe evolution of dating norms, facilitated by technology, has led to the acceptance of unconventional methods and relationship styles, emphasizing the need for open-mindedness and adaptability in today's dating landscape.

      Unconventional methods of dating are becoming popular among certain demographics. Sam Parr and Shaan Puri discuss different approaches to dating, including posting on Twitter and creating detailed Google docs as profiles. They also note the increasing trend of polyamorous relationships among young people. The conversation highlights the fact that dating norms have evolved over time, with unconventional methods and relationship styles gaining acceptance. It also suggests that technology has played a significant role in facilitating these changes, allowing individuals to explore alternative ways of finding romantic partners. Ultimately, the conversation highlights the importance of being open-minded and adaptable in the ever-changing landscape of dating and relationships.

    • The Paradox of Dating Profiles: Intellectualism, Preferences, and Physical AttractionWhile dating profiles that emphasize intellect may attract a specific crowd, actions on dating apps often reveal that physical attraction still plays a crucial role in forming romantic connections.

      Dating profiles that showcase intellectualism and openness may attract a particular type of crowd. Some individuals prefer to delve deep into topics like ethical dilemmas and child rearing plans even before the first date. However, it's important to note that these profiles may not necessarily lead to successful romantic connections. People may claim to desire certain qualities in a partner, but their actions on dating apps often contradict their stated preferences. It seems that physical attraction still plays a significant role in decision-making, regardless of what one professes to seek. Additionally, the sale of the dating app "The League" highlights the demand for high-end dating experiences, where individuals are willing to pay a premium for exclusive access to potential partners.

    • Attracting a Target Audience with Higher PricesSetting higher prices for exclusive dating apps can lead to increased revenue and potential acquisition, as high-end individuals are more willing to pay for a tailored experience.

      Setting higher prices for exclusive dating apps can be effective in attracting a certain target audience. By increasing the subscription fee to $99 a week, the revenue for the dating app skyrocketed, leading to the app being acquired by Match. The strategy was based on the idea that high-end individuals would be more willing to pay premium prices for a dating app tailored to their needs. Additionally, the conversation highlights the popularity and success of exclusive dating apps compared to mass-market apps like Tinder. It also touches on the concept of using unconventional platforms, such as dating apps, for recruiting and finding potential employees. These insights demonstrate the potential for innovative approaches in the dating and tech industries.

    • Evolving Needs in the Dating Game: Transparency, Directness, and UnderstandingThe dating landscape is constantly changing, and apps like Field address the need for transparency and directness in stating preferences while highlighting the importance of understanding different gender perspectives and challenges.

      The dating game is constantly evolving and there will always be new needs and preferences to cater to. The old approach of simple dating apps like Tinder and Hinge is no longer sufficient. People now require more transparency and directness in stating their preferences and relationship configurations. Apps like Field aim to provide a platform where users can be ultra-direct about what they are looking for. Additionally, the conversation sheds light on the difference in experiences between men and women in the dating world. It emphasizes the importance of understanding the perspectives and challenges faced by individuals of different genders. Overall, it is evident that the dating landscape is complicated and ever-changing, requiring continuous adaptation to meet the diverse needs and preferences of individuals.

    • The ever-changing nature of societal norms and the importance of embracing changeOur perception of what is normal evolves over time, reminding us to appreciate advancements in safety and technology while embracing change in society.

      Our perception of what is normal and acceptable changes over time. The things that we find uncomfortable or crazy now may become commonplace or even nostalgic in the future. We discussed examples like grinding at clubs, outdated fashion trends, and outdated technology like flip phones. This prompts us to reflect on how our own grandchildren might view our current way of life as strange or even foolish. It highlights the ever-evolving nature of society and the importance of embracing change. Additionally, it reminds us to appreciate the advancements in safety and technology that have made our lives easier and more secure, such as the shift from landlines to cellphones and the improvements in car safety.

    • Future Technological Advances: Changing Norms and PracticesFuture advancements in technology will revolutionize healthcare, transportation, nutrition, and ethical concerns, reshaping societal norms and rendering current practices outdated.

      Technology and advancements in the future will change our perception of certain practices and behaviors that are considered normal today. For instance, the idea of not getting regular body scans to detect potential health issues will seem absurd, as future medical advancements will make it easier to identify and treat diseases before they become life-threatening. Similarly, the concept of manually driving cars will become outdated, with self-driving cars and advanced transportation systems taking over. Additionally, current debates on diets and nutrition will seem trivial as scientific advancements will provide more clarity on what is truly beneficial for our health. Finally, eating meat from animals will come under scrutiny, as alternative options like lab-grown meat become more mainstream and the traditional method is seen as inhumane.

    • Exploring the Future of Meat Consumption and Animal WelfareThe conversation between Shaan Puri and Sam Parr sheds light on the evolving societal perception of meat consumption, highlighting the need to reflect on the ethical implications of our food choices and potential advancements in alternative proteins.

      The future of meat consumption and animal welfare is a topic that raises ethical questions and prompts individuals to reflect on their personal choices. The discussion between Shaan Puri and Sam Parr highlights how societal perceptions of meat consumption can evolve over time. Puri brings up the notion that eating meat may eventually be viewed as a form of animal genocide, while Parr's experience with cows on his ranch makes him reconsider his own meat consumption. The conversation also introduces the idea of investing in and incubating hard science businesses related to animal products, indicating potential advancements in alternative proteins or lab-grown meat. Overall, the discussion illustrates the complexities surrounding meat consumption and highlights the importance of considering the ethical implications of our food choices.

    • Embracing diverse paths to success and challenging traditional norms in pursuit of progress.Success comes in various forms, and it's crucial to be open-minded and adaptable, embracing new ideas and perspectives in order to achieve personal growth and societal progress.

      There are different levels and approaches to success, and it's important to recognize and respect them. The individuals in the conversation highlight the achievements of someone who has excelled in different games and levels, from starting a six-figure business in middle school to funding bold scientific approaches. They also discuss the changing dynamics of childbirth and the possibility of delivering babies through incubation. This conversation emphasizes the need to adapt and embrace new ideas, even if they challenge traditional norms. Additionally, it underlines the importance of open-mindedness and understanding, as different experiences and perspectives can shape our understanding of success and progress.

    • The allure of easy solutions and the power of persuasive advertisingPeople are naturally drawn to quick fixes that minimize discomfort, driven by the influence of successful advertising and the appeal of magical cures.

      People are inclined to avoid pain and discomfort when given the option. Whether it's choosing an epidural during childbirth or taking a "magic pill" like Ozempic, individuals are drawn to solutions that minimize their discomfort. This inclination is evident in everyday choices, such as ordering food delivery instead of cooking. Moreover, the conversation highlights the appeal of quick fixes and magical cures, even if their effectiveness is questionable. It also emphasizes the influence of successful advertising and copywriting, as seen in the popularity of the book "The Lazy Man's Way to Riches" and its impact on modern internet copywriting techniques.

    • The power and potential of copywriting for positive change.Copywriting has the ability to capture attention and persuade people to take action, but it should be used ethically and responsibly to bring about positive outcomes.

      Copywriting is a powerful tool that can capture someone's attention and persuade them to take action. In the case discussed, a man named Patrice Runner used compelling copywriting techniques to create a psychic company and generate millions of dollars in profit. However, he crossed the line into fraud and is now facing significant jail time. Despite the negative outcome in this case, the conversation prompts a reflection on the potential of copywriting for positive purposes. It highlights the importance of using these techniques ethically and responsibly to bring about positive change. The conversation also mentions another renowned copywriter, Gary Halbert, reinforcing the idea that copywriting can be an incredibly impactful skill when used correctly.

    • The Power of Memorable Phrases in Communication and BrandingMemorable phrases are essential for effective communication and branding, as they capture attention, define identity, and leave a lasting impression on the target audience.

      Phrases hold significant importance in communication and branding. Copywriters and skilled writers collect and store memorable phrases, known as a swipe file, to use in their work when the perfect opportunity arises. These phrases have the power to capture attention and create an impact. Additionally, the conversation highlights the significance of summarizing ideas and values through a memorable phrase or mantra. Just like communities, sororities, or cults, having a crest or a catchphrase helps to define the essence and identity of a group. It emphasizes the importance of "nailing" a phrase to effectively communicate and establish a strong connection with the target audience. Ultimately, phrases have the potential to leave a lasting impression and shape perception.

    • Creating meaningful phrases and values that acknowledge the trade-offs involved.Meaningful phrases and values should not only reflect what is truly valued, but also acknowledge the benefits and drawbacks, and sometimes require sacrificing certain opportunities.

      Coming up with meaningful phrases and values is a challenging process. Sam Parr is trying to create phrases like "CTC" (confidentiality, transparency, and commitment) and "core" (commitment, openness, respect, and one other thing). However, he finds it difficult to make them stick and be memorable. Shaan Puri suggests that values are only useful when they acknowledge the trade-offs involved. For example, Facebook's value of "move fast and break things" acknowledges the downside of moving fast and accepts the trade-off. Puri believes that values should reflect what is truly valued and sometimes require sacrificing certain opportunities. Overall, the conversation highlights the importance of creating meaningful phrases and values that acknowledge both the benefits and drawbacks.

    • The Power of Guiding Principles in Communication and SuccessHaving clear guiding principles not only improves engagement and authenticity but also helps in creating impactful content, enabling success in various aspects of life.

      Having a clear guiding principle or North Star is essential for success and meaningful communication. Whether it's Michelle Obama's "when they go low, we go high" or Sam Parr's "bullshit free news", these guiding principles give direction and purpose to their endeavors. By knowing what to focus on and what to exclude, they were able to create content that resonated with their audience. This approach not only improved engagement and metrics but also made their work more authentic and impactful. It's important to have a set of principles or criteria that determine what is valuable and worth sharing, be it in newsletters, conversations, or business strategies.

    • Prioritizing Strategic Bets for Desired ResultsSuccess comes from not only pursuing the right opportunities but also saying no to others. Focus and strategic decision-making are essential for achieving desired outcomes in both business and personal endeavors.

      It is important to prioritize and make strategic bets in order to achieve desired results. Shaan Puri discusses how they made big bets by addressing specific areas of improvement within their company, such as demand planning and inventory forecasting. By hiring an experienced individual in this role, they expect a significant improvement in their bottom line. Additionally, they talk about the importance of focusing on a select number of initiatives and saying no to other potential opportunities in order to avoid spreading themselves too thin. They highlight that the success lies not only in what they choose to pursue but also in what they choose not to pursue. This principle of focus and strategic decision-making applies not only to companies but also to other aspects of life, such as personal goals and aspirations.

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    Episode 589:  Shaan Puri ( https://twitter.com/ShaanVP ) sits down with David Perell to reveal every framework he knows to become a better storyteller, a better writer, and a better creator of binge-worthy content. This episode was originally recorded for the podcast “How I Write,” hosted by David Perell. —> https://www.youtube.com/watch?v=Z2BnqYArwaw 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 (3:16) Binge bank (6:03) Storytelling (8:05) Intention & Obstacle (14:22) Hasan Minhaj (15:53) Writing vs Speaking (18:06) Pacing (19:01) Hooks vs Frames (22:30) Viral tweets (26:49) MrBeast (27:26) Storyworthy (29:10) 5-second moment of change (32:02) Origin Stories (42:07) Tony Robbins (43:25) Transformations (44:12) Steven Bartlett (46:17) Viral videos (49:09) Miss Excel (56:04) Change your state & focus (58:31) Paul Graham (1:03:43) Advice to writers (1:06:53) Writer's voice (1:11:48) Dave Chappelle vs Netflix (1:18:18) Distribution (1:21:40) Twitter / X (1:32:34) Writing with humor (1:45:02) Newsletters — Links: • Write of Passage - https://writeofpassage.com/ • David on Twitter - https://twitter.com/david_perell • David’s Website - https://perell.com/ • David Perell on YouTube - https://www.youtube.com/channel/UC0a_pO439rhcyHBZq3AKdrw • David’s Podcast - https://writeofpassage.com/how-i-write • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 — 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 • Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
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    My First Million
    enMay 22, 2024

    A Masterclass On Hiring A CEO To Run Your Company ft. Andrew Wilkinson

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    My First Million
    enMay 20, 2024

    Turning $1M Into $1B+: A Masterclass From The Indian Warren Buffett

    Turning $1M Into $1B+: A Masterclass From The Indian Warren Buffett
    Episode 586: Shaan Puri sits down with Mohnish Pabrai for a rare interview about value investing. Mohnish is sometimes called the "Indian Warren Buffett" for having turned $1M into over $1B+ through stock investing. In this podcast they talk about how founders can become great investors, how to avoid big mistakes, and lessons learned from Buffett & Munger. 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 (1:41) Why entrepreneurs make the best investors (4:130) How Warren Buffett’s pre-paid for his college education (8:45) Becoming Ben Graham’s Protege (12:41) What Buffett learned about branding from See’s Candies (15:45) Buffett’s failed play to be a candy mogul (18:44) Identifying offering gaps (20:22) Getting an MBA at age 14 as the son of an entrepreneur (23:33) The 3 tells of a future millionaire (25:56) Mohnish builds his first product with maxed out credit cards at 24 (27:59) The 168 hour framework (31:13) “Entrepreneurs do not take risks” (32:38) How Richard Branson launches Virgin Atlantic with no money (35:31) How 0.1 percent of the population owns 70 percent of all the motels in America (38:31) The unfair advantage of being a low-cost producer (40:20) How Mohnish turned his first million into $13M in 5 years (43:39) Pabrai Funds grows to $600M in assets in less than 10 years (47:35) What Mohnish knows about fundraising that we don’t (50:26) Pivoting from tech investments in 1999 to value investments (53:13) $2M lunch with Warren Buffett (58:09) Be a harsh grader of people (1:01:53) The Givers, The Takers, and The Matchers (1:04:40) “Heads I win, tails I don’t lose much” (1:09:26) Private markets v public auctions (1:13:35) The #1 trait that makes a great investor (1:15:01) What people of Reddit think of Mohnish Pabrai (1:16:31) Starting capital, annual rate of return, length of runway (1:17:24) The Rule of 72 (1:21:50) Circle the Wagons Philosophy (1:23:35) Losing $3B in one unfortunate event (1:28:49) Be fearful when the world is greedy; Be greedy when the world is fearful (1:29:17) What a value investor thinks of bitcoin (1:30:26) Nick Sleep bets (1:42:30) The Best Of: Capital Allocators — Links: • The Intelligent Investor - https://tinyurl.com/3jmpjrmc • The Dhandho Investor - https://tinyurl.com/53p9bhfv • Mohnish on Twitter - https://twitter.com/MohnishPabrai • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 — 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 My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
    My First Million
    enMay 17, 2024

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