How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, QVC for Mobile, and More

MrBeast, AppSumo, Chrome Extensions, and Peter Levels - December 7, 2021 (over 3 years ago) • 58:21

This My First Million episode features Shaan Puri and Sam Parr discussing noteworthy online businesses and creators. They analyze MrBeast's recreation of Squid Games, highlighting its viral success and smart sponsorship strategy. They also explore the potential of simple online businesses, citing examples like AppSumo and chrome extensions. Finally, they examine Peter Levels' online businesses, praising his creativity and ability to capitalize on trends.

  • MrBeast's Squid Games Success: Sam and Shaan dissect MrBeast's successful Squid Games recreation, noting its impressive viewership, sponsorship by Brawl Stars, and the overall financial win. They emphasize the power of ambitious projects in attracting attention, sponsors, and motivating teams.
  • AppSumo's Simple Business Model: Sam details AppSumo's growth, explaining its email list-driven model and impressive revenue. He shares Noah Kagan's background and the potential acquisition value of AppSumo.
  • Meet Kevin and Graham Stephan: Sam introduces Meet Kevin and Graham Stephan, YouTubers who transparently share their investment portfolios. He expresses admiration for their willingness to reveal financial details and discusses Meet Kevin's political aspirations.
  • Real Estate Investment: Shaan and Sam discuss Sam's real estate project involving the purchase and development of a property next to his house. They break down the economics of the project, including purchase price, building costs, and potential profit.
  • Chrome Extensions as a Business: Sam highlights the potential of Chrome extensions, using AdBlock as a case study. He expresses surprise at the revenue generated by simple extensions and emphasizes the potential of this business model.
  • Peter Levels and Rebase: Shaan and Sam discuss Peter Levels' online businesses, including Nomad List and Rebase. They admire his ability to identify and capitalize on trends, creating simple yet profitable websites. They praise his creativity and entrepreneurial approach.
  • Concierge Shopping and Phone Sales: Shaan shares his experience buying a sauna and the effectiveness of phone sales. He suggests a concierge shopping service where customers could discuss products live with impartial experts.

Transcript:

Start TimeSpeakerText
Shaan Puri
When you go fish in a part of the pond that nobody else is fishing, because everyone else thinks the water is too deep and it's too scary over there, the rewards are disproportionate even to the effort and the work that goes in.
Sam Parr
alright what's up
Shaan Puri
what up dude how are you doing
Sam Parr
who
Shaan Puri
Did you have a guest on the last episode when I was doing my own episode? Then you tweeted out you wanted to guess who came.
Sam Parr
On it's two different people. The first was our own Ben. Ben and I did an episode where we talked about things people in history and if there's any commonalities between a bunch of them. Then, Noah Kagan, my friend Noah from AppSumo, I asked him if he would come on and he said yes. So, I just recorded two that day.
Shaan Puri
cool did they turn out good or you know amazing bad
Sam Parr
How's Noah? Noah was good. Ben and I's was good as well. I just hope that... I don't know if that topic is gonna be a winner, so we'll see. Noah is amazing. Do you know about AppSumo?
Shaan Puri
I know like loosely about appsumo so here's what
Sam Parr
I'll tell
Shaan Puri
You... What I know, you tell me what I don't know. So what I know is that AppSumo is basically a website where you can go to get software deals. I would say they kind of... they go find cool software, they make a deal. They say, "Hey, we'll get you in front of like, whatever, 50 million people, but you gotta offer a deal to our audience." It's sort of Groupon-style or Woot-style. And apparently, he's doing extremely well. He's been doing it for...
Sam Parr
a long
Shaan Puri
ass time 10 + years I think it does over a 100,000,000 in revenue so that's what I know about it
Sam Parr
Almost. Alright, so AppSumo started as basically Noah emailing the founder of Imgur. He said, "Hey, you guys charge $10 a month. If I give you a bunch of new customers at $6 a month, can I get a little cut of the pie?" That's how he started. He made $10 doing that by emailing a bunch of friends. Eventually, it kind of still is this way, but they're becoming more of a marketplace and a website. For like the last 10 years, it's basically been an email list. I think there are only 300,000 people on that email list, and they email out a few deals a week where they find companies that say, "Hey, give us a discount and give us a cut of the revenue." It was doing okay for years. Some years it didn't do better than the year before; sometimes it did a lot better. I think it only did okay for a few years. Now, after close to 10 years, their goal this year was $100 million in revenue. They're going to miss it by a little bit, but he said they're going to get north of $80 million in revenue. Now, he didn't say it on the podcast, but if you just Google it, it appears that as of that $80 million in revenue, they pay out 30% to their partners and they get around 60 or 70% of the actual revenue. He owns most of the company and has never taken any outside money. They have about 150 employees at this point.
Shaan Puri
Wow, I didn't realize some of those things. Okay, so 300,000 people on the list. Do you know if they send out an email about some product? Have they ever done it for The Hustle, by the way? Did you promote The Hustle in there somehow, or no because it's already a free email?
Sam Parr
I I no I don't well no I don't think we've done it in a traditional way
Shaan Puri
maybe trends you could have
Sam Parr
I think we've done trend, but we've not done it in a major way. Sometimes they'll only send it to part of the list, and I think that we've done like a part list. But some of the partners... they'll make over $1,000,000 in one day.
Shaan Puri
Well, I guess my question is: How many people take them up on their offer? How many do they need for this business to kind of work? Is it like... because I think it seems like maybe bigger than it is. I wouldn't be surprised if it's like, "Yeah, a 1,000 people click the thing," and 1,000 people is enough for this business to work. When 1,000 people take the offer, is it 1,000 or is it more like 10,000?
Sam Parr
I would think that it's in the single-digit thousands, if I had to guess. That's how many buy because the products are like $400 a year or something like that. So, you don't actually need that many people to buy in order to make $500,000 to $1,000,000. They're sending emails constantly, and now they have a website that people are using. Now, here's where it gets interesting. I asked him, "How much could you sell this business for right now?" He was like, "The huge range is $300,000,000 to $1,000,000,000." I think that's what he said.
Shaan Puri
right wow pretty
Sam Parr
crazy right it's it's it it it's like noah
Shaan Puri
good job good job noah
Sam Parr
And like a lot of things, the hustle included, people are like... and I say it as well, "Well, it's just an email list. It's really simple." And yeah, that's true, it is just an email. But there's definitely a machine behind it. AppSumo is inherently quite simple. They just holler at companies, they say, "Give us a discount and give us a cut of the pie," and then they just email it out to people. It's so simple, and it just creates so much value.
Shaan Puri
Ryan Hoover did this a while back. He created a list of big companies that started off as "just email lists." So he created Product Hunt - Product Hunt started off as an email list. Product Hunt got acquired by AngelList, which is like a $3 billion company.
Sam Parr
or more
Shaan Puri
AngelList started as just an email list. It was simply a list of angels. Craigslist also started off as an email list. There were a whole bunch of products that began as just an email list. Some became more than that, while others stayed as an email list.
Sam Parr
groupon started out groupon is basically was an email list for a long time
Shaan Puri
Right, and so, you know, don't underestimate... do not underestimate email. That's not tattooed on Sam's back: "Do not underestimate email." Let's talk about a couple of things. I have another business I want to highlight. It's one of those, like, "Are you joking? That's the business!" But first, before we do that, we gotta talk about this Squid Games thing that happened—the Beast Games by Mr. Beast. Did you watch it when it happened, or have you watched it after the fact?
Sam Parr
I heard, basically, Casey Neistat, who I follow on Twitter, was talking about Mr. Beast. What he's doing with the Squid Games thing is one of the most epic things I've ever seen on YouTube. Casey Neistat is one of the pioneers of YouTube, and him saying that meant a lot.
Shaan Puri
yeah exactly that's you know denzel saying wow the great acting in this movie so alright so for those who didn't see it alright so squid games was this ultra popular I I think it is the most popular show ever on netflix most watched show and it's this kind of like crazy korean death game show type of idea where you know a bunch of people enter this game and they're trying to win the big prize and then they get killed the losing is like you die basically that's like the short version of it I actually didn't watch squid game so maybe I got something wrong there but I did watch the mr beast version of it so what did mr beast do he basically decided I'm gonna recreate squid games but I'm not obviously people aren't gonna die but he did it even better so he invited 456 people to this arena that was built for this and the prize was the number 1 the the winner of the games was gonna win $456,000 runner-up 10 k and everybody who who went got $2,000 each and in total the production + the prize money so I think he did about a 1,000,000,000 and a half dollars of prizes and 2,000,000 to build and produce it 3 and a half $1,000,000 is what he spent on this content on this 25 minute video so let's talk about what happened so first the players showed up they're wearing the same outfits as in squid games it's like kind of green windbreaker jumpsuit type thing and they all have a number so player 1 player 2 player 3 all the way up to player 456 and inside their shirt they have this like pack and the pack is like exploding paint so if you let's say one of the games is called red light green light the old like game we used to play as a kid where if you say green light you start moving red light means you gotta stop if you keep going after they say red light you're out and so they they usually say green light then they say red light and if somebody flinched after that their little pack inside their shirt would explode and red paint would come out as if they got shot like you know like the real squid games and then they would be out and then hey you gotta go to the next you didn't make it to the next game and so in the end you know player whatever player 27 ended up winning $456,000 so here's I I think this is amazing and this ties into some stuff we've been talking about so just some numbers the video got about a 130,000,000 views in 7 days which is crazy I think I I believe ben you can fact check me on this I believe a 130,000,000 views is more than what the actual squid games got on netflix now netflix is a paid service of whatever but like
Sam Parr
and people watched like
Shaan Puri
multiple episodes yeah
Sam Parr
12 hours of of footage it's yes it's still a midpoint
Shaan Puri
The fact that it's comparable... the fact that somebody just watched the show was like, "Oh yeah, we'll do like a backyard version of that," and got 130 million people to watch is insane. So, he spent $3.5 million on it. Just to kind of put this in perspective, that's basically half the cost of a 30-second Super Bowl commercial. Wow!
Sam Parr
really did you have a sponsor
Shaan Puri
It was fully paid for, I believe, by Brawl Stars, the big, super popular mobile game. If you look in the arena where it was hosted, it's a giant Brawl Stars arena. They have a huge logo that was in every shot. For Brawl Stars, this is such a smart move. They basically paid half the cost of a Super Bowl ad and got more viewership than a Super Bowl ad. You get 130 million people watching a video that is like 20 to 27 minutes long versus a 30-second clip. This is an epic thing that's going to get shared, and then they could take this content and repurpose it for ads or anything else they wanted to do after the fact, if they wanted to. Really smart! And, you know, for Brawl Stars, $3,000,000 is probably just one day's ad spend on Facebook or something like that.
Sam Parr
Is owned by Supercell, and Supercell is like the biggest game... the big, yeah, yeah. So if I... I don't know if this is how it would have worked, but if I'm Mr. Beast, I think he could have. He would have gotten Supercell to pay for the whole thing—so $3.5 million. I bet he also would have gotten another like $500,000 just like...
Shaan Puri
there's a vig on top of that
Sam Parr
Just like that, I would have probably said to them, "I'm going to keep YouTube ads on this." And Mr. Beast, I get all of it. So, if Mr. Beast is getting 130 million views in the first 7 days, and if you do maybe $4 per CPM, that's around half a million dollars that he got in the first week. Plus, I believe he got...
Shaan Puri
His deal is going to be a lot better than $4 CPM because he's the number... he's like, you know, one of the faces of YouTube. These guys have custom-negotiated deals that I would bet a lot of money are better than the standard kind of $4 to $5 CPM.
Sam Parr
what do you think it is
Shaan Puri
I bet he's getting closer to $10 cpm
Sam Parr
so if it's 10 that's 1,300,000
Shaan Puri
yeah and just in a week
Sam Parr
In a week, according to our notes, it looks like he got 10,000 new subscribers and 1,000,000 total subscribers.
Shaan Puri
a 1000000 sorry
Sam Parr
Oh my God! **10,000,000** new subscribers in the first week, and a normal week is **400,000** subscribers.
Shaan Puri
So, he has 20 times subscriber growth. What does this do? He continues to be the content leader. He gets 10,000,000 new subscribers, and those people are going to get notified for his next video. He makes $1,000,000 on ads, and he gets the whole thing paid for by a sponsor. This is a great example of something we've talked about before. We discussed this with Elon when he does epic stuff like, "I'm going to go to Mars." We talked about it with, I forgot the guy's name, Mark Lasry or whoever it was, that's building that epic train system in America. I ranted about Disneyland last week because, again, when you shoot for these epic projects—things that get people inspired and excited—it seems like it's harder to pull off. But in many ways, it's easier to pull off because you'll get talent to pour in. They want to be a part of something bold. You'll get sponsors to pour in because they want to bet on this epic thing that's going to happen. They know that it's going to get a lot of visibility. You also get your own motivation to get out of bed every day because you're working on something so grand. You're more motivated, and everybody does their best work. People tune in to watch. So, Ben just looked it up: 142,000,000 people watched "Squid Game" on Netflix, and 132,000,000 watched "Beast Games" on YouTube. So, about the same—one to one. You get disproportionate prizes when you go fish in a part of the pond that nobody else is fishing because everyone else thinks the water's too deep and it's too scary over there. The rewards are disproportionate even to the effort and the work that goes in.
Sam Parr
I had a friend—it could have been Noah. In fact, you know Noah, who we talked about. He was the 20th employee at Facebook, and he got fired nine months into his employment there. So, he didn't get any of his equity. But I have a friend who spoke to Mark Zuckerberg. He said to Mark, "Why don't you just sell the company for a billion? Why are you raising all this money? Things are growing." Mark replied, "Look, it's good. I only have 24 hours in the day, and I'm only going to work the same amount of time in the day whether it's big or small. So, I might as well make it as big as I possibly can because that's what interests me. It's just as hard; it's equally hard to go big as it is to achieve somewhat mild success." That's a perfect example of what Mr. Beast has done. It's actually of equal work, you know? It's the same amount of time in the day. But when you see someone building something so epic, it's exciting. So many people who don't give a shit about Mr. Beast—of which I am one of them—I know about this, and I cared about it.
Shaan Puri
Small ambition and large ambition take the same amount of effort if you want to win. If you want them to work, that's exactly right. I think this was brilliant. I believe this is another example of Mr. Beast being one step ahead of the curve. You're going to see a lot more people try to clone this. The next thing that comes out, you're going to see four YouTubers who are the wannabe Mr. Beast try to jump on it and recreate this. By the way, this wasn't the first thing he did like this. Obviously, he's been doing stunts, but he even did a "I'm going to recreate Fortnite." They went to an island with 100 people playing paintball, and it was like a game of Fortnite. He made a video on that, and I think it did well, but it wasn't this. It wasn't this level. But it's those reps that you put in that give you a) confidence and b) shots on goal until you get something to work like this. I was also watching a clip of Mr. Beast yesterday, just coincidentally. Somebody asked him, "You've talked about wanting to be a billionaire. You want to be, you know, quote unquote, the first billionaire creator," although there have been other creators that are worth a billion dollars. So, you want to be a billionaire, and they asked, "Are you there? Are you there already?" He goes, "No, no, no, I'm not there yet." He said, "Cash-wise, I'm probably the poorest person in this room." They were like, "No, no way!" He goes, "Yeah, because whatever I have is like paper. It's not liquid. Any cash I get, I just reinvest." He said, "If we make $3,000,000 this month, I'll put $3,000,000 into the next video. We have razor-thin margins." He said, "I just reinvest the whole thing into content." I think on average, he said he was spending something like $2,000,000 to $3,000,000 a month on his content.
Sam Parr
I would have bet
Shaan Puri
which is wild
Sam Parr
I would have guessed that he made around $2.5 to $3 million a month in revenue. I would have guessed around $30 million in revenue from his operation, and that makes total sense. In fact, we talked to a couple of people, and I believe Mr. Beast has around 30 to 40 full-time people working for him. I actually recently read about what it’s like to work with him, and a lot of people complained. They said, "Working with him is horrible; he's horrible to work with." Then I was like, "Well, you know, what's going on? Why?" They said, "He's a perfectionist." I was like, "Oh, okay, so it's actually not that bad." They would say, "Why isn't this good enough? Why is this so bad?" He would analyze every single frame, and frankly, that made me love him even more. But there's something interesting about this: I actually think being him is exhausting because you have to show up every single time. So let me give you an example of two YouTubers that are incredibly interesting to me: Graham Stephan and Meet Kevin. Do you know who those guys are?
Shaan Puri
I know graham stephan I don't know meet kevin
Sam Parr
Alright, meet Kevin. I think he is even more famous and he has 2.5 or 3 million subscribers. He recently did a video called "Here's My Entire $50,000,000 Portfolio at Age 29." I noticed that he had done one of these.
Shaan Puri
I'm clicking okay
Sam Parr
of course I clicked
Shaan Puri
double click full screen headphones on
Sam Parr
And I noticed that he did another one of these about 9 months ago or 13 months ago, something like around a year ago. His net worth then was only $25 million, and I was like, "What is going on? This guy is nuts!" So, he's basically this guy, Meet Kevin. I don't know his full name, but he makes like 3 to 4 videos a day. He talks about which stocks he's buying and which types of houses he's buying for investment properties. He shows his entire portfolio, and at the end, he goes, "Now here's proof," and he logs into all of his accounts.
Shaan Puri
and you
Sam Parr
could see all of it
Shaan Puri
screen share yeah
Sam Parr
Yes, which is amazing for many reasons. 1. He's only 29 and he's a YouTuber with $50,000,000.
Shaan Puri
You know, $50,000,000. How did he get that money? So, he's just off of his YouTube, or did he have some other business that he started with?
Sam Parr
At age 19, I believe he started as just a real estate agent. He was just a normal guy. He made a little bit of money, like $100 a year. He took that $100 a year and bought some properties. Then, he started a YouTube channel in 2010 or 2011, where he began documenting his real estate investing. Slowly, that started making additional income. Using that income, he bought even more properties. Eventually, he had a course and things like that, where he was making like $1 to $2 million a year—a significant sum. Then, he took that money and started investing it, talking about what he was investing in. You could see this entire growth over the last five years of his portfolio and how it's grown. Of course, it helps that he now has a significant stream of income, like $4 million a year, I would imagine, and we're in the best bull market of all time. So, it kind of works, but that's how he's done it. Interestingly, this guy, Kevin, when Gavin Newsom was being recalled, ran for office. There was this Republican named Larry Elder who came in second behind Gavin Newsom. Kevin was third, with something like hundreds of thousands of votes. This kid's amazing.
Shaan Puri
that's surprising I feel like a youtuber who's got a big following should crush any politician he
Sam Parr
Doesn't have that big a following. He only has 2.5 or 3 million; it's not significant. It has to be a California above 18 voter, so it's not like it's not significant. But my experience with a lot of these YouTubers is that this video was nutty, and Graham Stephan did the exact same thing. He goes by...
Shaan Puri
the way
Sam Parr
here's my
Shaan Puri
Prediction: A Mr. Beast or a Mr. Beast-type person will run for president and will surprise people with the type of following they get.
Sam Parr
because oh absolutely
Shaan Puri
Whether you want to be president or not, you could. I think the original Trump playbook was, "I'm gonna just throw my hat in the ring. I'm gonna get tons of attention and press. I'm gonna build my brand off the massive amount of attention that goes into elections." I'll be the kind of curveball story that everybody wants to cover. Everybody's got an opinion on it, like Kanye. Kanye did it; he threw his name in. You're going to see the wild, wild west of people trying to put their name in the hat for running for office or these kinds of positions that will sound, you know, "How could a 21-year-old YouTuber be doing this?" They're going to get a little momentum, and then that's going to create a press cycle, which will create more momentum. I don't think they'll actually win. I don't think they even want to win, but it would just be a smart move for the dog-eat-dog world of YouTube trying to get views.
Sam Parr
Yeah, and back to the original point of getting views. What an exhausting life! I'm thankful that Mr. Beast does what he does. I'm thankful that this Kevin guy and Graham are crazy enough to log in and show me their lives. That is so cool! They are *fucking nuts*. That is nuts!
Shaan Puri
I had this exact thought the other day. I forgot who I was talking to, but I was talking to somebody and it was like, "Oh yeah, that's a great YouTube idea." I've had like five ideas about, "Oh yeah, if we did that as a YouTube video, it would get clicks." One was I was going to show how you can make $10,000 being Santa Claus for Christmas. I was like, "Oh, this is easy! I'll buy the suit, I'll show the economics of that, I'll go do the thing, and that'll make for a funny thumbnail." It'll make for this little story that's semi-viral. Another idea is going and buying fancy stuff. Like, Justin Kon did a video where he toured a $50,000,000 home.
Sam Parr
it was amazing
Shaan Puri
And it's, you know, just interesting content, right? It's like super... it's junk food that people in our niche just like to consume. Like, "Oh yeah, what is it like? How do you do it? How much money do you make? How do you invest it?" There are all these videos that you can make around this. And every time I think of one, I think that would work. I think to myself, "I do not want to get on that treadmill." I just don't want to get on the treadmill because I know it's like the difference between sort of knowledge and wisdom. It's like I know this would work, but I'm also wise enough to know that that is not a path I want to double down on. I do not want to double down on the treadmill path because I don't feel that way about this podcast, for example. This podcast feels ongoing. It's a breeze, dude! We show up, I just shoot the shit with my friend for an hour, and people seem to like it. It's just two hours of my week that I enjoy. I'm on camera, I'm being recorded, and I don't have to worry about how I look or the angle or this and that. Maybe I should care a little more, but I just don't. I like the way that you do when you're recording YouTube videos and you have to edit everything, clip it, and do all these cuts. Podcasting has that risk-reward ratio or that effort-reward ratio that works for me. This YouTube treadmill, I think, has a much bigger prize, but I don't want to win that way. There are other ways to win, and that treadmill is exhausting.
Sam Parr
it's exhausting and there's a reason
Shaan Puri
why is exhausting
Sam Parr
There's a reason why you don't see Casey Neistat anymore. I've watched a couple of recent interviews with him, and he said, "Now I don't do anything." He goes, "For those three years that I was recording daily vlogs, everything in my life, everything in my day, if someone invited me to dinner, I had to message them and say, 'I can't unless someone interesting is coming or you want to go somewhere intriguing,' because it has to be content." He lost a lot of friends, and he and his wife almost divorced. It was exhausting. Now, at 37 years old, he's financially successful, and he says, "I'm not doing it anymore. I have to take a break."
Shaan Puri
I think it's cool to dabble with it, but I am wary of the treadmill now. You did a video, so it's kind of on the other side of the coin. You've been putting out your fitness content, which I think is probably just fun for you and motivating. It's fun, and then you did a video that I loved, which was... you put a video up on, I think, just your personal YouTube channel of this real estate project you're doing. So I wanted to ask you about this. Here's what, for those who didn't watch it, here's the summary of the video: You bought a piece of land right next to your house, I think like adjacent to or like...
Sam Parr
a house literally my neighbor
Shaan Puri
Your neighbor bought the lot next to your house, and it has this really rundown shack on it. It's a large piece of grass with a really shabby shack that someone was living in. It's been like this for 20 years; it looks brutal. I wouldn't wish these conditions on an enemy. So, it looks like you bought this rundown shack, and you're like, "Cool, here's the thing I bought." You broke down the economics, and you're like, "I bought this for how much exactly?" "$650,000." You bought the whole thing for $650,000, and you bought it leveraged or all cash? "Cash." Okay, you bought it all cash. Why didn't you borrow?
Sam Parr
Because I wanted to purchase it before they put it on the market, here’s the background: it was a 90-year-old couple who owned it, and they rented it to a guy. The day I moved into this house, I did a little bit of research and found out who they were. I said, "Hey, you know, my name's Sam. I live next to your property. If anything ever happens and you want to sell this, please contact me." So, the man died on a Monday. The wife called me on a Wednesday and said, "Would you like to buy it?" I bought it on a Thursday.
Shaan Puri
Amazing! Okay, I love that. You're like, "This is gonna be my first kind of project." You don't know anything about real estate or building a home, so you're thinking, "This is gonna be fun. It's gonna be a hands-on project. I'm gonna document it as I go." Then you had this spreadsheet that basically said, "Alright, look, I bought it for $650,000." In this area, there's a sort of price per square foot that you can get, and here's the range. You talked to some contractors and got bids. You were like, "On the low end, it seems like you could build it for this much, and if I'm conservative, it might be more expensive than we think. It might cost this much." So, I might have to put $1,000,000 into building the actual structure and the home from the ground up. I might be in for $1,600,000, but based on the price per square foot in this area, I should be able to sell this for $2,000,000. It should be worth $2,000,000 or $2,500,000 when I'm done with this thing. The margin of safety was really strong. It seemed like just an absolute no-brainer of a deal, assuming this is how you want to spend your time. The time is almost more expensive, or the risk here is more so than the buy. You made your money on the buy, as they say in real estate, rather than trying to make your money on the sale. Yes!
Sam Parr
And, but it's not taking nearly as much time, and I'll tell you why. So, what I did was, before I even bought the piece of property, I found things in the area that sold for my ideal price per square foot.
Shaan Puri
right
Sam Parr
I went on Zillow and Redfin. I found the architect, and then I called them. I also called the builder and said, "Hey guys, how much would it cost to build this exact same home right now?"
Shaan Puri
right
Sam Parr
and they told me and I go great did you
Shaan Puri
do that
Sam Parr
Yeah, and I bought this lot. I called them again and said, "Hey, you know that house that just sold for $1,000 a square foot? Do that again over here for me, please."
Shaan Puri
So you're not trying to innovate and add the Sam Park touches of like, you know, a 3,000 square foot gym and like a 1,000 square foot house? You're doing a normal house build out?
Sam Parr
It's a normal house build-out, but I said, "Make it a 2-car garage." Because if I decide to live there, I'll build a gym there. And that's basically it. Yes, I just said I took a house that was crushing it, that I just sold for a lot of money, and I hired the same people and I just said, "Do it again."
Shaan Puri
by the way
Sam Parr
so I'm not I don't I'm not spending any time on it I spend no time on it
Shaan Puri
Just the fact that it's next door is surprisingly going to save about **50%** in time and headache involved with this. My family did this; we had a house in San Francisco and then we bought a house two doors down. Just the fact that it was two doors down had all these extra benefits. It was super easy to go see and manage any construction that was going on. They even share a fridge in their garage, so it's like, "Oh yeah, just use the extra fridge across the street." My sister runs a business out of one of them, so she's able to manage it without having to get in her car and commute somewhere. Just being within eyesight and a **2-minute walk** away is so important. If anyone's going to do a project like this, do not underestimate that. I've seen it a couple of times, and I feel this way: this is my rule with friends and family. You want to live so close to your best friends or family that you could go unplanned to their house. You shouldn't need to pack a bag and think about, "Okay, when should we go? Should we beat the traffic?" It should be easy to pop over and pop back unplanned because it's so convenient. The difference between **15 minutes** away and **4 minutes** away is going to fundamentally change the amount of times you see that person or do that thing.
Sam Parr
so why'd you bring up that youtube video by the way because I
Shaan Puri
thought it was awesome
Sam Parr
oh thanks
Shaan Puri
and I just wanted to hear more about the like the like the actual real estate side of the side of the
Sam Parr
I think that the numbers are the way they're going to work out. Not a lot of people believe me, but I think it's going to happen this way. I'm going to make half a million dollars in profit or more from it. I think there's a world where I make closer to a million dollars than half a million dollars. I'm going to make it.
Shaan Puri
sell it or rent it out
Sam Parr
There are a few options. I can live in it and sell my home. Yep, but the way that all this math is going to work, it's going to be... both this house and that house, I'll have made around $1,000,000 in profit in like 18 months.
Shaan Puri
right
Sam Parr
Because things just worked out, I’ll make more from this real estate project than I will from my entire hustle salary combined.
Shaan Puri
Ever, and it's only in this project, for example, but you're gonna have to invest. That's the kicker here. So like, you couldn't have done this back then because you didn't have a spare $1,600,000 to go invest in buying the lot plus building the home out.
Sam Parr
or if I did do it it was like all of my money
Shaan Puri
Right, exactly. So, you know, you would've had to go completely all in on it. Can I tell you what else we got?
Sam Parr
Can I tell you about a company that interests me? Okay, so I was talking to someone recently, and I can't say who it is, but they had a Google Chrome extension that made something like **$25,000,000** in revenue with only **2** people. It's amazing, and so I got curious.
Shaan Puri
extension did or no
Sam Parr
no I roughly category helping people on amazon sell stuff
Shaan Puri
okay cool
Sam Parr
so like kinda like a what's that thing called jungle scout something in that world
Shaan Puri
yeah
Sam Parr
And so basically, I started to get kind of curious. There are two extensions that caught my attention. The first is called **Adblock**; I think that's the one I use. The second one is called **Adblock Plus**, so that's why it's a little confusing. **Adblock** was created by one guy in Georgia named **Michael Gunlack**. He built this thing in 2009 and has been the only employee the whole time. I went to his personal website to learn about him, and he only has 55 followers on Twitter. His website is called **sorryrobot.com**. On his website, he has Python projects, a Unity game that he built called **Asteroids**, and even an MP3 of him singing a Christmas song at church during Christmas time. This is like...
Shaan Puri
the way his linkedin his job description is just a guy
Sam Parr
he lives
Shaan Puri
In Duluth, Georgia, and it says: "I am not available for work. Please do not contact me about job opportunities." I created **AdBlock**, the most popular Chrome extension for Google Chrome and for Safari, with around 20,000,000 users. It's neat. Before that, I did some other neat things.
Sam Parr
And he was the only employee. Then I did some research on his competitor called Adblock Plus. Now, this company has a few more employees; I think they've got 20 or 30 people. Because they're based in Europe, when you're a European company—at least in England, and I know it's the case in different European countries—if you make over $20,000,000 in revenue, you basically have to file a report that reveals your revenue and profit. So, I went and looked at this company called IO; they own Adblock Plus. In 2017, they did $44,000,000 in revenue and $26,000,000 in profit, which is astounding. They had at least 100,000,000 users. However, if you look in the Chrome plugin store, Adblock Plus has around 150,000 reviews and it says they've got over 10,000,000 users. If you look at Adblock, which is the one founded by this one guy, they've got something like 300,000 reviews and it also says 10,000,000 users. So, there's potential that this one guy had a business making all of this money—tens of millions of dollars a year, very likely tens of millions of dollars a year in profit—just off a Chrome extension. Is that amazing?
Shaan Puri
This is amazing. I'm still on this guy Michael Gunlock's website... sorry.robot.com/resume.pdf. I think you said this, but I was reading while you were talking. So he was an engineer at Google working on Google Ads and Google AdSense. Did you already say that part?
Sam Parr
no and he he worked on Google and basically he goes nah fuck that I hate these ads
Shaan Puri
And bail. So his job was, he goes, "At Google, I kept the global Google Ads and AdSense networks alive and kicking. In my spare time, I built this other thing and I built this other thing." You know, like because Google has that 20% time, he's like, "I built this JavaScript framework..." blah blah. So basically, he goes from working at Google and Google AdWords and AdSense to creating AdBlock. And he makes $20,000,000... makes more than that off 20,000,000 users who love this thing.
Sam Parr
and what year did he work at Google I believe like 05
Shaan Puri
2005 yeah so which is like right after the ipo basically
Sam Parr
Yeah, so he probably made **$30,000,000** at Google. Collectively, that's what it's worth now. I don't know.
Shaan Puri
held it yeah
Sam Parr
If he held it, he made tens of millions of dollars off that. Now, the thing about this guy is that everything's very quiet. He's hard to find, and everything's impossible to track. However, I think in 2015, an anonymous buyer bought Adblock. Interesting. There's a world where it could have been sold for like $200 or $300 million. I mean, there's a world where that exists. Maybe it was lower, but it's a huge property.
Shaan Puri
He stopped... he stopped working on Adblock, or you know, it sold probably in 2015, which is kind of scary. These Chrome extensions are a giant security hole for people because Chrome extensions can read and write all the data as you browse the web. So, every email you're writing, the text can be picked up by these Chrome extensions. Even if they start off safe, because you know, just a guy from Duluth, Georgia built it and he's an engineer who has the right intentions, somebody who buys it with the wrong intentions can really do some dirty stuff, you know, with the data. They can even modify it and things like that. So, you gotta be careful with Chrome extensions. I try to install the minimum amount of Chrome extensions as possible.
Sam Parr
Yeah, they are pretty scary and, yeah, they're nuts. But it's a wild business. I think that what... here's the thing: I love these extension-style businesses. There are a few platforms that I think are quite interesting. The first is Shopify, which still makes a ton of sense. Our friend Andrew has a business where all he does is buy Shopify plug-ins. Its market cap is a publicly traded company, and it's in the $600 million range on the Canadian Stock Exchange. But the third thing, which you probably have not thought of, and the fourth thing you definitely haven't thought of, are Salesforce plug-ins. Finally, Zoho plug-ins are incredibly interesting. We used to hire this engineer at The Hustle. He was in another country, and we would pay him $20 an hour to just build little apps for us for our sales team. Yep. I think Zoho, which is like a Salesforce competitor but a little jankier, has an equal amount of users as Salesforce. I think you could build a really great business just doing Salesforce plug-ins.
Shaan Puri
Right, yeah. And or rolling them up. So, I don't know if I'm allowed to talk about this, but I'll say it in a vague way: I met a guy... [or] I heard about a guy that was rolling up games inside of a big gaming platform. So there's like a very popular game, and then there are games within that, or little modules people create and monetize. This person was rolling them up, and they're like, "Dude..."
Sam Parr
that mean like
Shaan Puri
these are created by like
Sam Parr
some type of kids
Shaan Puri
Okay, so for example, there are big gaming platforms like **Fortnite**, **Minecraft**, and **Roblox**. These different games exist, and inside the game, you can create little experiences and you can monetize them.
Sam Parr
got it kinda like people who create like different colored guns for call of duty
Shaan Puri
Yeah, although I don't know if people create those. I thought the game created those. But, like, yeah, there used to be mods and, you know, mods of different games and maps and things like that that you can create. That's always been kind of a part of it. But some of these games now are so big that they actually formalize their little creator economy inside the game. The person I knew was rolling them up, and they're like, "These are selling for nothing." Because it's just like a kid who made this, it sells for like less than, you know, like one times revenue or something like that. It's crazy compared to going and buying that same cash-flowing asset on whether it's FBA or Shopify or something else. Now, everything has a different profile. Like, maybe this game is a fad, maybe people will stop using this, maybe, you know, the game will change the rules and you're screwed all of a sudden. So, yeah, there's some risk. But I love these game plans of going to these niche platforms. We've talked about Etsy, we've talked about Poshmark, FBA. Now you're talking about Zoho, Salesforce, and Slack, and like all these different platforms. There are little apps that just make $50,000 to $100,000 a month, and you can go and you could buy these out. You can roll them up and have a company that does $10 to $20 million of revenue profitably. You could buy your way there without even having to invent anything. All you gotta do is go get cheap, cheap debt, buy this thing, and profit. It's really like that simple.
Sam Parr
But there's one major thing, which is if Call of Duty, Fortnite, or whatever it is, they go, "Hey, we're going to go in a different direction." Yeah, exactly.
Shaan Puri
And that's why you got... that's the same thing with FBA, right? All these companies like Thrasio and all these roll-ups. FBA is not... I mean, you're dependent on a single platform, which is Amazon. That's known to compete very hostilely. There are other risks; they could change the algorithm and all of a sudden, your product that was at the top is now at the bottom. There is definitely risk. So you gotta look at it like, "Okay, if my payback is 9 months, I feel pretty good about it. If it's 3 years, I don't feel so good about it anymore." That's where you gotta, you know, place your bets.
Sam Parr
can I
Shaan Puri
Tell me if I can share a really random or small example. So, our buddy Ramon tweeted this out. He goes, "Here's an example of a silly, stupid business." Ramon is @RamonVanMeer on Twitter. He mentions a simple website called "Moneymaker." This emoji website gets 5,000,000 visitors a month, and all it does— and I use this by the way all the time— is help you find emojis. If you're on your computer and want to use an emoji, it's not easy to get the keyboard up for the emoji thing. So, you just Google "laughing emoji," and it gives it to you. It says, "Click to copy to your clipboard," and then you can copy it and paste it in Twitter or wherever you're writing your email or whatever. All it does is let you look up emojis, copy and paste them, and it also explains what the emoji means. A good example of this is Emojipedia. I don't know if you've ever seen it, but it's like the top-ranking site that comes up when you search for this stuff. It's like Wikipedia but for emojis. Ramon was looking at the ad revenue, and it's plastered with ads everywhere on the site. Depending on their ad revenue, this site could be making between $50,000 to $150,000 a month in profit. Do not underestimate these small, simple sites. We've talked about this with crosswords, Sudoku games, and things like that—just these really simple things that people like to search for. If you could own the domain and have a really simple online game, like a Scrabble word solver or crossword hint cheats, those little websites can be really good. So, this emoji one I thought was another example of that. Even better, I was curious about who owns this thing. I was looking for the owner, and it turns out it's some random engineer named Michael Gunblox, who said, "Oh yeah, I got a huge company that owns it." Some company bought it, and it's called Zedge. I was like, "Okay, what the heck is Zedge?"
Sam Parr
I'd say
Shaan Puri
Zedge. This is one of those companies that makes you go, "Really?" So, Zedge is a public company with a market cap of around **$130 million**. It's a very small-cap public company on the New York Stock Exchange. What they do is act as a publisher or a roll-up. They bought a bunch of these little apps and websites that attract a lot of traffic because people want self-expression. They acquired wallpapers, ringtones, stickers, alarm clock sounds, emojis, and PDF files—things like that. They brought all these under one roof, and since they're a public company, you can check out a bunch of their numbers. So, they'll do like...
Sam Parr
you know amount so it's almost like 50%
Shaan Puri
They'll do like 50% profit on their product, or at least operating profit. Then, you know, the EBITDA will be closer to like $2,000,000 or whatever on their each quarter.
Sam Parr
why the hell would a company like that go public don't go public
Shaan Puri
Yeah, I think there are a bunch of reasons why they might go public, but I just thought it was interesting. So, they have about **350 million** people who have downloaded their wallpaper app. They say they have **40 million** monthly active users. Wow! These companies are just hidden in plain sight. Let me just look at their annual revenue again. I don't know if I have annual or quarterly, but I think they do about **$20 million** a year in revenue and **$10 million** of operating profit. In **2017**, they did... let's see, pull this up. Okay, sales and revenue. It's a little lower than what I saw here, but I'm doing this quick. Basically, for the last **5 years**, it's just been flat—about **$10 million** of revenue and **$2 million** of COGS. Their gross income is between **$7 million** and **$8 million**. Then they pay for a huge amount of other sales and SG&A expenses. So, they're not showing a bunch of profit at the end, but I would bet that these things are like spitting off profit. If you want, you know, they're putting money in their own pockets basically out of this. I thought that was just a really crazy little company behind this stuff, and it just shows you how much money is in really simple things that a lot of people use—like alarm clock sounds, wallpapers, that sort of thing.
Sam Parr
what what's live reviews
Shaan Puri
this is an idea so so I just got a sauna and I know you're in the market for a sauna
Sam Parr
oh what time did you get
Shaan Puri
So I got a Sanctuary, a Clear Light Sanctuary... like the infrared sauna. I like a lot of it: I like the size, the look, the shape, all that. But it doesn't make me sweat enough, and so I'm like, "Well, that's the problem with infrared."
Sam Parr
that's the problem with infrared
Shaan Puri
That's the... of the sauna. So I'm like, "Well, that's a bust." And I'm like... At first, I realized okay, I didn't have one of the panels plugged in, so that's why it was like, you know, part of it was dead. Okay, that was one issue. Then it got better. Then it's like, well, the best way to use it is you break a little sweat before you go in. So you just do like a quick 5-minute, 10-minute cardio just to warm up. Because what infrared's doing is it's not warming up the air, it's warming up your body.
Sam Parr
that's just like microwaving you
Shaan Puri
It's microwaving you, which seems pretty awful for you, but I guess it's not so bad. I guess it's good for you, actually. You know, blah blah blah, heat shock proteins, blah blah blah. So, I broke a sweat before I got in, and it was better. But I was like, "Dude, I'm not trying to do all this. I'm trying to go sit in the sauna and sweat in 5 minutes." For my house, my space, I didn't want to do extra electrical work. I didn't have a huge space where I was putting it, so I put it in my garage gym. In retrospect, I would now hold out for a dry sauna, but it didn't really fit my current situation. So, you know, whatever, it is what it is. I was thinking, like, "God, I actually did the research. I talked to people, I read reviews." But the thing that I feel is missing is that I wish there was something like QVC, where you go live and sell an item. People have tried to make QVC for mobile, and it's never really worked. I don't know if this would work either, but I kind of wish this existed based on this current experience. Toby, maybe there is a product here. Why can't I go on and just say, "I'd like to talk to somebody about saunas"? Why isn't there a person live on video who is a third-party impartial source that can basically show me live on video and talk to me about what I'm looking for? Dude, this is...
Sam Parr
Exactly what Mark Laurrie said. So, Mark Laurrie, the guy who started Jet.com, sold it for $3 billion to Walmart. He mentioned one thing that they were working on at Jet that could have been a massive business, but they shut it down for a bunch of different reasons. He goes, "I actually think it still could be big with concierge shopping." So, you simply log on and you just tell us, "I'm looking for a toaster," and a clerk is online saying, "Okay, for your needs, I think this is best. Would you like this one?" He said that that would be a big business.
Shaan Puri
Yeah, and so even with this... Actually, if you go to the website to buy this thing, you can't just buy the sauna. There's no "buy" button. You have to call someone, but this is their sales rep, right? So I called the sales rep. It's 8 PM, she picks up, she's an American person. I was like, "Woah, what the heck? You work this hour? Who... what... who are you?" Like, you were really good at your job. You know, you built a lot of trust quickly and you got me over the line to buy the $6,000 sauna on the phone here. And she was like, "Yeah, like we're... there's a network. The way we work is we only sell..."
Sam Parr
to the the sauna company
Shaan Puri
Yeah, so it's owned by Jacuzzi, the... you know, the Jacuzzi company. She's like, "Yeah, it's basically we have a network of sales reps. We all pick up the phone. If you're offline, you're offline... you didn't get that commission." She's like, "I get a commission if you buy and that's how we make our money." She's like, "Yeah, like I make good money." I was like, "How many of these do you sell in a day?" She's like, "On a good day I could sell like 4 of these in a day, and on a bad day I'll sell like 1 or 0."
Sam Parr
Dude, listen. The reason why you and I are pretty good at what we do— which in this case, I'm referring to just coming up with ideas— is that people say things to us all the time. I get it, I'm kind of like jerking ourselves off here, sorry. But that question you just asked? I do that all the time, and people are amazed that you could do that. Like when you're just going to a food truck, you'd be like, "Hey, how many customers do you get a day?" And they just tell you. So what you just did is a perfect example. You got intel that is hard to find, but it was very easy to get.
Shaan Puri
and I asked multiple so I asked and you could triangulate that's the the secret
Sam Parr
if you
Shaan Puri
Don't ask a very rude question, like "How much money do you make?" or "How much does this company make?" I said, "What's a good day? How many of these do you sell on a good day?" So that already softened the blow by just saying "good day." I'm asking just for a day that doesn't seem like top secret information. Okay, cool. Then I said, "You're great at this! I really like this. This was kind of an awesome experience for me on the phone." I asked, "Are you one of the...?" and then I said, "How many reps are there?" I'm just sounding amazed because I was amazed.
Sam Parr
What you say to that reply is, "Wow, are you guys all in America?" "Wow, yeah, we're all in America." "Wow, what? I mean, what are they, like 10,000 of you?" "Of course, you know, it's not even close." "Oh no, it's way smaller." "100?" "Oh, like 100? More like 800."
Shaan Puri
Right, right, exactly, exactly. So, I was able to suss out how this system works. I was like, "Wow, that's great!" So, I bought this thing, and you're gonna make like what, $400 or $500 off this? Yes. And she's like, "So now I know the commission structure." I'm just doing it because I'm curious. I have no agenda. I'm not starting a sauna company; I don't care. I'm just trying to learn. Then, I took a piece of that to our own team for e-commerce. I was like, "Hey, you know, I had this great experience. Should we be having a phone number on the site? Should we be helping people like that? How would that work? We're a way lower price. Would this still work?" And then I met this guy, Ezra. Ezra Firestone is his name. Yeah, he's amazing. He's super well-known in the e-commerce space, and he's got this famous brand called Boom by Cindy Joseph or something like that.
Sam Parr
is that it's makeup right
Shaan Puri
It's like, kind of like makeup and anti-aging products, face cream, stuff like that for women who are like 50 to 70 or something. That's what it looks like to me, at least. This brand does great. I think he's pretty open about it; like he publishes stuff. I think they do like $80 or $100 million a year in revenue. He told me that during a talk I did at Ecom World. He was interviewing me about customer service. He goes, "Oh, okay, interesting." He said, "For us, we do phone." I replied, "You don't do phone?" He said, "No, we don't do phone." I asked, "Does anybody do phone? Does that work?" It's the same type of question that will get somebody to defend the thing they do.
Sam Parr
does that
Shaan Puri
shit work
Sam Parr
that's what you said
Shaan Puri
I was like, "There's no way does that shit work," and he was like, "Dude, 30% of our sales close over the phone." And I was like, "Ding! Data." Interesting. Should I be doing that? That's like a learning curve takeaway from it, I'm like...
Sam Parr
The next thing that you ask is, "Yeah, but there's no way that's profitable." And they'll say, "Of course it's profitable, only pay them $18."
Shaan Puri
$8 an hour. Am I a bad entrepreneur? No. I'll tell you that. I'll tell you how it all works down. So, yeah, that's exactly the...
Sam Parr
kind of deal our
Shaan Puri
actual questions
Sam Parr
how do they pay people how much do they pay people an hour
Shaan Puri
I don't know. I didn't ask in this case because we were live on the panel. But, you know, had this been the same normal conversation, I would have been breaking it down.
Sam Parr
That's badass! Alright, you wanna do one more? What's this for? Free? Wait, I do... what's this fluffy stuff about luck and timing?
Shaan Puri
Let's do a non-fluffy one because I feel like I've been doing a lot of fluffy stuff lately. I feel like we've kind of been on a kick of sort of fluffy stuff because, if you let me, I'm gonna talk about mindset all day. And the second thing is we did a lot of gossip about, you know, like billionaires and their affairs and shit like that. So I'm like, "Okay, noted. I'm gonna turn that down a little bit." I want to do one more cool idea because I think, you know, people love that shit. Okay, so... **Rebase**. Have you seen this before? Before I put it on this sheet?
Sam Parr
no I'm looking it up now
Shaan Puri
Alright, so you know the guy who's behind this? It's that guy from Levels, levels.io. Who is...
Sam Parr
oh I love that guy
Shaan Puri
His name's Peter Levels, I think. His handle is levels.io. He's a prolific guy who was ahead of the curve on remote work. I remember, maybe 6 years ago, he created Nomad List. He also created a remote working Slack channel. He was like, "Oh, if you're a remote worker, pay $10 and get into Slack." He had like 6,000 members. I was like, "Woah, you made a lot of money off this little... just a Slack invite." I've never seen that before.
Sam Parr
And he reveals all of his revenue. So, I don't know what his... so it's Levels.io. That's one of his sites. He's got like four sites, I think. If you go to Levels and then scroll all the way down, you can see his Twitter name is Levels.io. Yeah, it's probably pronounced differently. You could see a link to all of his websites, and it looks like he's got close to ten there. If you click them, then...
Shaan Puri
scroll below that see the little meter in his location
Sam Parr
Oh boy, that's amazing! For one, amazing! That's amazing! Oh my God, that's beautiful!
Shaan Puri
So, what did he do on Twitter? Where you put your location, most people just write like "San Francisco" or "New York." Instead, he used an emoji to create like 10 squares. It's like a meter, and at the end of the meter, it says "$5,000,000 a year." Then, he shows the meter is like 60% of the way there, which indicates that he's probably making around $2.5 to $3,000,000 a year. It's just a subtle thing, very nicely done, very interesting, and very cool. I like it.
Sam Parr
And if you go to any of his sites, it looks like he's got eight or so sites listed. When you click around, you're going to see a phrase on all of his sites called **"Open Startup."** I just sent you a link. Do you see the link I sent you? You can see all of his metrics. You can see how much revenue they have, how much... like he's got weird metrics, such as how much CO2 is removed from the atmosphere, GitHub commits daily, revenue, daily sign-ups, meetups organized, new paid memberships, live streaming events last month, sign-ups, how many customers are in total, and how many page views there are. You can see everything: the uptime of the websites. This guy's amazing! If you know... so just...
Shaan Puri
Nomad List is doing $531,000 a year. It's halfway to the goal of $1,000,000 a year from this business.
Sam Parr
And this guy, we just explained how he's kind of got this unique little Easter egg on his Twitter. He's got little things like that throughout all of his websites. In my mind, this man is an artist. His art just so happens to make money. I love this guy! I don't know his name.
Shaan Puri
peter peter I think it's peter levels
Sam Parr
that's his whole name I didn't know that I would just thought his company was called levels
Shaan Puri
so if you look at like one of his things I was gonna show you so okay so his latest thing this thing called rebase and he tries to like sniff out a trend and then quickly spin up the semi viral slightly profitable like a semi viral simple profitable version of a website so what is rebase rebase is people are trying to relocate with the pandemic and with tax changes and with cryptocurrency and all this good stuff people are more like kind of you know like fluid than ever there are people who are gender fluid and they're location fluid there's a fluidity going on so he basically said portugal came out and portugal said we wanna they I think in 2021 they had the largest population decrease in the last 50 years and so they decided alright our population is shrinking we need foreigners to come live here and spend here and work here so they said the portuguese government said we wanna attract high-tech remote workers and they gave out they create a program called the nhr program and so the nhr program basically has a bunch of benefits now I don't know if they're all as good as advertised meaning like I didn't go read the fine print but here's some of the things it says 0% tax on foreign income so they're not gonna tax you for income that comes outside of the state 0% tax on crypto it's considered a currency unlike in the us where it's considered a property 0% tax on dividends 0% tax on wealth 10% tax on pension 20% tax on freelancing so that's like you know where what a lot of people would do there there's no minimum stay you can get fast track for your eu passport you know they have a whole bunch of like you know sort of things that are benefits for coming here you know we have a 90% vaccination rate we have friendly people blah blah blah so that's so he created a website that just has the sales benefit the benefits of if you wanted to relocate or get a passport in portugal and then what levels did was he basically created okay you here's the on ramp to portugal so it's like for for a $150 you'll do an onboarding call and we'll walk you through it and there'll be a tax expert and a lawyer that'll analyze your situation for $650 we'll get you set up with portuguese residency and you'll get a portuguese tax id for a 150 year dollars $150 a year we'll do your taxes and it's like start now here's the button and I was like this is such a smart simple you know simple idea and already it's like booked out so you know he his max was that he could do that the lawyer could do 50 50 calls per month and immediately it was at 300 calls per month and so he's like trying to hire another lawyer so he can scale it up a little bit more
Sam Parr
If you had to ask, like someone asked me the other day, "Who do you admire?" I would ask it a little bit differently, which is, "Who am I jealous of?" This guy, Peter, I'm looking at his websites, and I am jealous of so many things about him. The first is his creativity; it just oozes. Second, he can do it like everything that I see on his website. I'm like, "Oh my God, this is perfect! This is the perfect example of how a product should be made." This guy is incredibly prolific.
Shaan Puri
He's incredibly capable. He's like a music producer to me, but for websites. He's just making these little hit songs, and they're not... he's not trying to be Justin Bieber, like the one mega-hit franchise that goes on tour. He's just a producer that makes dope beats. And instead of beats, he just makes dope websites. And these websites pay for a dope lifestyle.
Sam Parr
Yeah, I mean, in a lot of the subscription revenue he's got, like, look at inflationchart.com. That's one of his. Yeah, this website tracks real inflation, which is happening. The governments don't tell you about it in their official numbers. Okay, super easy. I understand that's just a really cute meat widget. I get it.
Shaan Puri
It's awesome! Even on, what's it called, the website I was just talking about, Rebase, the very first benefit is that McDonald's has the Royale Deluxe. McDonald's in Portugal has the Royale Deluxe and the Big Tasty Double. That was the first benefit, right? Because he could have just gone into like tax benefit, tax benefit, tax, but he let me break the ice here. He set a little fun Easter egg, a little fun nugget that just shows you who the site is built by. It's built by somebody who's got a personality. It's built by an indie software maker, not some stiff company or bureaucracy. I think these little touches matter. That's why he's an artist.
Sam Parr
This guy's amazing! I love this guy. Good, good, good find. I've known about him for a little while. I always thought he was really talented. I didn't realize that he was like the Kanye of internet website builders.
Shaan Puri
Yeah, he's great. Okay, so I would even say he's like, you know, **Rick Rubin** or something like that. He's got his own shtick. Anything else you want to do? Otherwise, we could wrap it up.
Sam Parr
No, no. Well, we could wrap it. We could save that other... I want to hear about some of these things that you have on here, but we could save them.
Shaan Puri
okay sounds good we're out