Somali Pirate Mediation
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A business that acted as a mediator between Western ships and Somali pirates, essentially creating a protection service to prevent piracy attacks through negotiation and payoffs.
Key Points:
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Core Service:
- Act as intermediary between Western ships and Somali pirates
- Collect payment from Western countries/ships
- Negotiate with and pay off pirates to prevent attacks
- Take a profit margin from the transactions
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Business Model:
- Target Western countries' ships passing through Somali waters
- Create formal channels for piracy prevention
- Generate revenue through the difference between what Western ships pay and what is paid to pirates
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Notable Context:
- Operated during height of Somali piracy crisis
- Created legitimate business structure around illegal activities
- Part of larger criminal enterprise that included other ventures
Note: This business idea comes from a discussion about a criminal enterprise. The speakers were discussing it as a historical example, not as a recommendation.
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.