My First Million: October's Funniest MFM Moments

Hello and welcome to My First Million.

This is producer Ben and we've got a best of edition today and today we're doing something

a little different.

I went through and found what I thought were the funniest moments of MFM from the month

of October.

My First Million is first and foremost a business and entrepreneurship show, but it

was a kind of a comedy show.

So I wanted to highlight a little bit of that.

So to start with, we have Sam and Sean talking about Kristen Kent, a woman who bought Sarah's

List.com and held it hostage.

And here Sam and Sean are negotiating the details of what a fully fleshed out Sarah's

List website might look like.

The real value here is not the domain, it's not the website.

It's Kristen Kent.

Okay.

So here's my proposal to Kristen Kent.

Here's my counter offer.

My public podcast counter offer to you, Kristen.

I'll give you the $20,000.

I'll give it to you.

In fact, I'll give you the $30,000 that you paid for this, this domain.

If you really paid that much for this domain, I mean, that's kind of crazy and, but it comes

with this catch.

We're going to work together on this project.

You're going to do the work on the, on the company side and I'm going to do the work

on the promotional side, the distribution side.

And here's what we're going to do with Sarah's List.

We're going to turn Sarah's List into a half a million dollar a year.

Passive income stream.

Yeah.

Passive-ish.

I should say.

Passive for me.

That's a little active for you.

By the way, by the way, Sean, when you say, we got a, let's remember this is Sarah's List

of which I am 50% of Sarah's List.

So whatever you, Sam is, is on the side right now.

Sam said no.

No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,

no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,

no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no.

Sarah actually conversation there today.

Sarah is exchangespeople.

She said no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,

no, no, no, no, no, no, no.

So, you can share the royalty with Sarah.

So, here's what we're gonna do.

Actually, I don't know if I even wanna say this deal,

now that we're having this intense negotiation,

I wanna give out my great idea.

Okay, I'll give out my great idea.

So, here's the great idea.

Here's how we're gonna make this work.

So, normally a job, this is like monetized

as a job board, right?

It would be a list of companies

that we are curating saying these companies are great.

And let's say we might take it to 24, 25 companies

rather than the 12 we have today.

And normally on a job board,

you pay like $500 a post for job posting.

So, we would need to go reach out to those companies,

get them to post.

And the other thing, but hey, this is maybe a premium.

It's a curated job board.

Maybe we could charge more, maybe a thousand,

maybe $2,000 to be posting your jobs on here.

So, if we've got people to do that,

let's say $2,000 a month, 24 companies,

let's say half of them actually do it,

that's like 24K a month, not bad.

But I think we're gonna be in this

kind of constant sales outreach period.

So, let me put out a different idea.

Here's a different idea.

We're gonna take these companies

and we're gonna host a demo day, once a quarter.

What's gonna happen at the demo day?

We're gonna basically, each week,

we're gonna feature one of these companies,

we're gonna create an email list.

We're gonna spin off our current email list

and we're gonna say, we're gonna feature one of these companies,

we're gonna do a deep dive,

but why this company's a good company to work for?

And interested people, high quality people in tech

might want to be. Well, that needs to be an upsell.

That needs to be an upsell.

It's where it's like for $25,000,

like you get a deep dive.

As a minority owner, I'm not sure you have a say here.

So...

I can barely hear your voice,

it was so faint, like your equity ownership of this.

If we were in the same room,

do you think I would have hit you already?

Yeah, I would have.

Or will that be coming in the next,

will that be coming in the next 10 minutes

or would it have already have happened?

I think it would have happened.

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Okay, next we have Sam and Sean talking about working in tech

and working in tech-adjacent businesses.

And what it's like to work with really smart people

when you yourself are not technical.

Because you previously had a company that was a,

I would tell my parents I had a tech company,

but it was really just an email newsletter.

It wasn't a tech company.

You actually had a proper technology business.

Right, right.

Yeah, you were just basically like writing brochures.

And whereas I was running a Silicon Valley enterprise.

I'm like a restaurant who has an online ordering menu

calling themselves a tech company.

Yeah, exactly.

The next Google.

Yeah, I'm used to working with people

that are way smarter than me.

And I like go over to the,

I roll my chair over to their screen

and they're just like, what do you want?

I'm like, hey bud, can you do that thing again?

Where you made the thing like bounce during the animation?

Like that was so cool.

I want to just like upload this to my Twitter.

Can you do it again?

And they're like, oh yeah, sure.

So I'm used to working with designers,

engineers that are way talented.

So I kind of look at it as following.

My plan is this, invest in everything

because investing is easy and great, right?

Like I'm a believer in this wave.

I'm excited about this.

And I think that I can help

because a lot of the people who can build this stuff,

they don't know A, where to apply it.

Like what's the actual pain point I should be solving?

And B, they don't know how to like build

maybe a defensible business

or go to market strategy that might make sense for them.

So I'm like, okay, cool.

I'm going to invest in a bunch of these companies.

That's plan A, that's already in motion.

Would you say that this is the most interesting sector?

For sure.

And I kind of feel like an idiot because it's like,

oh, cool.

Now you're interested in the new thing.

And it's like, on one hand, I get that.

You know, oh, crypto is hard.

You are in fact a dumb idiot who chases-

Yeah, I just chased the next shiny object.

And there's some truth to that.

Like crypto was, the more crypto prices went up,

the more I invested and the more,

then I created the milk road and like that,

I turned my content attention to it.

So, you know, oh, it's like that meme.

It's like, you know, the guy who looks back

at the new thing that's like, you know,

the hot thing behind it.

It's like, yeah, AI is that new thing.

But at the same time, what am I supposed to do?

I just saw a fucking flying object.

I just saw UFO.

What am I supposed to do?

Pretend I'm not interested?

Like no, I'm super interested.

Like, you know, count me in, like beam me up

and you know, have your way with me, aliens.

That's how I feel about AI.

Okay, and finally, we have Sam and Sean talking about

grit and delayed gratification,

which is something that Sam really believes in.

And Sean, not so much.

There's this awesome book by this woman

named Angela Duckworth called Grit.

Have you ever heard that book, Grit?

I've seen like Silicon Valley people talk about it.

Yeah, well, it's like centered around this story.

It's like a study where they give a whole bunch of kids,

they sit them down at a table and they go,

hey, look, you can have one marshmallow now

or in a couple hours, I'll give you two.

But I'm gonna set this here.

I'm gonna go out of the room for a little while

and handle some stuff.

When I come back, I'll see if you decided to eat it

or leave it there.

And that will kind of tell me what decision you made.

Sound good?

And they leave and, you know, they just see who does what.

And they measure these kids for like 30 and 50 years,

like for years and years.

And what they found is there's a correlation

between traditional financial success,

you know, like our traditional word of success,

there was a correlation between how successful they were

and the children that chose to not eat that one

in exchange for getting two in the future.

And the ones who put it off, you know, in eight, two,

they were more successful.

And what you've explained to me is like the perfect,

like real world, but rare example of a Grit,

where it's like, no, I'm willing to like not do this thing now

in exchange for a better alternative

and potentially in the future.

And that's-

Delayed gratification.

Yes, delayed gratification.

And that's like the best way to describe that.

I'm a marshmallow eater, dude.

Like I would have been that first, you know,

I would have had it in my mouth

while they're explaining the instructions, like, what?

There's another one coming.

I always got like frustrated when I talked about like,

you know, I told you this when they talked about

Warren Buffett and Jeff Bezos talking about patience

and having fun.

I'm like, dog, you're way too old.

Go have fun now.

Like there is no, there is no long,

there is no long-term man.

All right, that does it for this week.

Let us know what you thought of this funniest moments

from October edition of My First Million.

If you liked Framework Friday last week,

we're going to be doing more of that as well.

But again, we're just throwing stuff out there

and seeing what sticks.

So we'd love feedback on whether this episode

was a hit or a miss.

Oh yeah, so that's it.

Thanks for listening.

Yeah.

I feel like I can rule the world.

I know I could be what I want to.

I put my all in it like no days off on a road.

Let's travel, never looking back.

Machine-generated transcript that may contain inaccuracies.