Startup Ideas Recap of My First Million Podcast 💵 Episode #100

The latest startup ideas Sam, Shaan and Anthony "Pomp" Pompliano discussed on the August 12, 2020 episode with time stamps and links

This episode was over an hour long but did not hit on many ideas, really. Oh well, hope you still enjoy this recap!

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24:20 A dating app focused on authenticity

  • Too often people lie about their profile or have a profile pic that is not realistic

  • Pomp would call it “Authenticity”. He wants you to build it and contact him

  • All you do is open the app, it will ask you one question, and you answer it on video. You can review it afterwards and decide right then and there to make it public or discard it. Then get another question

  • There’s no filters or anything, it’s just video and voice

  • Imagine the consumption experience. People would love to “scroll” to see all the video answers from people

  • Various verticals and “niches” for dating apps could work

35:20 A training system for service companies that could teach people on a 5th grade level how to do their job

  • It’s hard to scale a service business owner’s time so they need a system that can train others for them without losing the “magic” of the service business

  • Is it possible to create these for companies like appliance repair, landscaping, window washing, storage businesses, etc?

  • Health Stream is a publicly traded company that does this for healthcare industry that teaches nurses new procedures. $300M in revenue. Basically just videos and employees just log in and watch the videos to learn.

  • Could do this for other industries

  • Pomp says you have to solve two problems: #1 You have to be good at documenting procedures and #2 you have to figure out how to get employees to engage and watch the videos to actually learn the stuff. Could be mandated by an oversight committee, etc.

  • Pomp says a self-improvement, professionally development system could work as well. So a direct to consumer rather than business to business: How do you start a podcast, how do you start a successful newsletter

  • Get someone who has built a successful business and document that and then sell it to others

45:35 Create boot camp programs for other companies: “A Lambda school inside a company”

  • Facebook has an internal developer boot camp that teaches you how to code/ work at facebook.

  • Shaan’s friend did the camp, worked at FB for a few years, then got a job as a CTO at a tech firm in New York

  • He went into the interview and said: “I make your engineering team work like Facebook’s engineering team”.

  • Go to old school companies and sell them on creating a boot camp for their company