I'm writing from my desk in San Francisco, California. This city is polarizing.
I moved here 8 years ago from Tennessee when I was 22 to start an internet company. There are many things to dislike about this city. It's expensive, has high taxes, and can be dirty.
But there's one thing that's kept me here: the density of world-shaping companies and people wild enough to try even the most outlandish ideas.
Yes, a lot of them fail and are stupid (have you heard of the on-demand car wash company Cherry that shockingly went out of business?).
My desk. 8:45 PM. When everyone's gone home, the research and writing begins!
And yes, great companies and people can come from anywhere. But this city, it has an energy that's intoxicating. The density of company builders makes you think anything is possible because.
And over the years, because of Trends, The Hustle, and Hustle Con, I've met hundreds of people building some of the biggest and most interesting startups in the world.
Because of this, we've launched a podcast that explores up-and-coming businesses and ideas that many people have no idea exist.
It's called My First Million. Each week my co-host Shaan Puri and I use our insider knowledge, Trends research and insights from the Trends community to brainstorm on the latest ideas we're hearing about.
Also, to make your life easier, scroll below and you'll see some of our favorite topics discussed in the past week.
Have fun,
- Sam, founder of The Hustle and Trends
PS: If you like this stuff, we send updates like this (but even more robust!) weekly to our Trends subscribers. Each month I'll send you some highlights. But if you want access to everything, along with our private community full of experts on these topics, sign up to Trends. It only costs $1: https://trends.co/
Full episode. There are 40 million new Christians a new and surprisingly few ways for them to engage with their church.
💰 Opportunity: With40 million new Christians a year, Christianity is big in youth culture right now: Kanye West's new album is a gospel album, Fear of God and Jerry Lorenzo are all popular. Our favorite opportunity? Helping Christians tithe (giving 10% of their annual income, common with churches).
Example: PushPayprocesses over $4b in church donations, hitting $98M revenue this year. Co-founded by Chris Heaslip, they've raised $100M and IPO'd in 2014 ($1b market cap).
More: Tithe.lyalso provides a similar online solution for churches and ministries.
Another interesting idea: PreacherNSneakers, an Instagram account showing what preachers are wearing. Example of something bridging Christian culture and Millennial/Gen Z culture.
💡 Idea: Bibles are often hidden in people's homes. We believe there's a market for stylish Bibles. The Bible is the best selling book of all time and it is free IP. Could apply to other holy books.
2. Favorite episode snippet: What do the Girl Scouts & AARP Have in Common?
Full episode. Loyalty, Loyalty, Loyalty. Membership groups are wonderful business models... we love them!
Boy Scouts are a big business. But they recently filed for bankruptcy due to various lawsuits. They had $1.5 billion in assets with 2 million members (and dropping). With $200 million in revenue (2018) mostly from fees and gifts, their biggest expense: insurance ($120m).
Girl Scouts: Generate $800m in cookie sales. A better business than Boy Scouts.
AARP: One of the best membership group models ($1.6b in revenue). Once you turn 60, they mail you a membership, and fees are very low (38 million members). Money made through affiliates and offering discounts.
NRA: another example of a passionate membership group.
💰 Opportunity: Peer groups for professional or personal development that serve as a rite of passage and teach life skills. See ManKind Project and Vistage.
3. Favorite episode snippet: Brandless went out of business two weeks ago
Full episode. But that doesn't mean the opportunity isn't there.
Brandless raised $200 million for white-labeled packaged goods like soap, diapers, and snacks, but will now cease operations. But we still think the idea and brand are solid. White label businesses can work. In fact, Kirkland does $38 billion, 30%+ of Costco's revenue.
Narendra Rocherollesuggests helping companies in this situation "wind-down". Rocherolle co-founded Webshots (later acquired by Threefold Photos)
💰 Opportunity: be a graveyard or undertaker service that helps companies "wind-down." Selling assets, taking care of taxes, etc. Unfortunately, this is a much bigger problem than people realize.
Anything else in the buying and selling companies' space?Chamath Palihapitiyafounder of Social Capital started a special-purpose acquisition company (SPAC): a way of taking companies public by acquiring them, fast track to liquidity without having to go public.
Talking tip:Hold a pencil horizontally between your teeth and speak for a minute. After removing the pencil, your speech and pronunciation should be better.
Tony Robbins tips for public speaking: 1) Get your body moving, into different stances, has an impact on how you communicate 2) Don't memorize what you want to say 3) Get into the mindset that the audience's lives will be better off from what you'll say.
Reality: Group of 20–40 people that go on an all expense paid trip to Israel. Birthright is a similar program aimed at those of Jewish heritage.
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