Specialty shoes for nurses, erotic newsletter sells for $75K, high school newspaper for companies

Startup idea recap of My First Million podcast episode #115

Hey guys,
Here’s the recap of the latest MFM podcast, including timestamps and links to make your life easier. Enjoy!

12:35 Specialty clothing and apparel like shoes for nurses or clothing like scrubs

  • Ex-Nike guy makes shoes for nurses called Bala

  • Raised 750K in 5 days with some sort of fundraiser campaign

  • Shaan likes this idea. He’s looked into specialty scrubs as well called Figs

  • Figs scrubs sells for $38 to $40

  • Figs on track to make $100M in revenue in 2018…probably crushing it in 2020

  • Sam says shoes are challenging due to varying sizes needed for inventory

  • Figs was bootstrapped without funding Sam/Shaan said?

  • Sam thinks oil workers may needs specialty clothing. He thinks there are 500,000 of these workers. [from Wes: I know oil workers have to have special “flame resistant” clothing. There currently are a few companies that sells these like by Ariat]

  • Shaan and Sam think there may be opportunity for restaurant workers apparel as well

21:20 A company that provides workforce tools for certain workers like travel nurses and truckers

  • Rig Up is a company doing this for oil & gas workers

  • Rig Up is valued at $3 billion. Raised money from Andreessen Horowitz

  • Rig up provides digital workforce tools for oil & gas, renewables, energy. “Our network and digital solutions help energy companies scale faster – allowing operators, vendors, and contractors to work together seamlessly while reducing costs and risk.”

  • A way to hire, do safety, do on-boarding of workers, etc.

  • Sam thinks someone should do this for other workers like travel nurses or truckers

  • Hospitals have fluctuating demand for nurses. So travel nurses go city to city and work at a hospital for periods of time. They get paid a higher rate since they are working on demand and are flexible.

  • There’s a shortage of truckers so trucker companies are begging people to get certified and be hired as truckers. The turnover rate is 100% per year according to Sam

  • How could someone apply the “Rig Up” model to travel nurses and truckers?

23:40 Erotic newsletter sold for $75,000

  • Sold to a private buyer at MicroAquire marketplace

  • Geared to black women

  • Advertised on Porn Hub

  • Sam thinks this could be as big as Crunchy Roll which is a billion (?) dollar business

  • Someone just needs to find the next niche and get on it

28:10 Video streaming solution that can’t be recorded (leaked)

  • An app for “company all hands” meetings

  • Currently when Shaan conducts an “all hands” meeting he has to put together a bunch of apps to make it all work: SSO service, video stream, recording in case you missed it, a way to do Q&As…

  • Shaan’s idea was to make one app to do all this to make it easier

  • Due to COVID and WFO “all hands” meetings have gone digital.

  • Shaan says this has led to security issues like how Facebook employees have been recording FB’s all hands meetings and publishing them

  • This means employers, CEOs have to be careful about what they say on the digital all hands meetings

32:40 A high school newspaper for companies

  • When Jeff Bezos bought Washington Post he created something called Arc

  • Arc is a publishing system CMS

  • They pivoted with Arc and started selling to Morgan Stanley and other big banks to create a private, internal newspaper for the company’s internal memos, announcements, all hands meeting, etc.

  • Shaan wants to know how can this be “leak free” so no one publishes it.

36:00 Artificial intelligence for everyday tasks

  • Compose.ai: Compose uses state-of-the-art machine learning to turn bullet points into polished emails

  • Synthesia.io: Synthesia CREATE is a powerful tool to create engaging video content without the need for actors, film crews and studios. You type in a message and the fake person reads it out on video.

  • These may be based on Open.ai

The guys then go on to talk about how amazed they are by Open.ai.