Nov 29, 2023 · 1h 9m · my-first-million
3 Business Ideas You Should Start in 2024 (ft. Pomp) (#524)
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions
Entrepreneurs and investors Sam Parr, Sean Puri, and Anthony Pompliano analyze the habits and conviction of elite Wall Street investors, discuss media distribution as operational leverage, and pitch actionable business opportunities for 2024.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. The hosts hold 40.2% of the talking time here. How this is scored →
The hosts as informed peer 5.3 Guest teaching 4.1 Guest disagreement 1.8 The hosts pushing back 2.6
speaking balance: gold is the hosts, purple is the guest (3 minute bins)
Sharpest disagreement ▶ 1:03:32 Pomp calls out Sam's focus claim
Pomp bluntly interrupts Sam to call his claim of doing only one thing a lie, cataloging Sam's various ongoing side ventures.
Hardest push from the hosts ▶ 30:41 Sam challenges Resi Club's pricingSam rejects Pomp's pricing structure for Resi Club, bluntly telling him that charging only $150 a year is foolish for B2B real estate data.
Biggest teaching moment ▶ 10:47 Pomp explains Bill Miller's deep-value Amazon convictionPomp educates the hosts on legendary investor Bill Miller's 10-year S&P streak and his aggressive buying during Amazon's 90% crash.
The host holds their own ▶ 37:05 Shaan dismantles the Nikita Bier hypeShaan offers an incisive breakdown separating viral disposable consumer apps from genuinely defensible social networks with retention.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | The hosts as informed peer | Guest teaching | Guest disagreement | The hosts pushing back | Why |
|---|---|---|---|---|---|---|
| Meeting Wall Street Legend Julian Robertson | 3 | 6 | 1 | 1 | Sam prompts Pomp about his ability to network with Wall Street legends, leading to Pomp recounting his private meeting with Tiger Management founder Julian Robertson. Pomp educates the hosts on Robertson's relentless curiosity and idiosyncratic office technology. | |
| HubSpot CRM Platform Sponsor Message | 5 | 5 | 1 | 2 | After an ad break, Sam and Shaan demonstrate solid familiarity with Wall Street's 'Tiger Cubs' hedge fund lineage. Pomp expands on the traits of legendary investors by sharing the story of Bill Miller doubling down on Amazon during the dot-com crash. | |
| The Razor-Thin Line Between Conviction and Foolishness | 6 | 4 | 1 | 2 | Shaan contributes a detailed personal anecdote about a real estate peer during the 2008 financial crash to explore the line between conviction and recklessness. Pomp matches the exchange with his famous million-dollar Bitcoin bet on Wall Street. | |
| Rebranding Content Creators and Overcoming Creator Stigma | 5 | 3 | 1 | 1 | Sam discusses overcoming the stigma of being a creator by examining historical figures like Benjamin Franklin and Warren Buffett who produced regular media. Pomp and Shaan chime in with humorous, collaborative takes on rebranding creators as media producers. | |
| Business Idea 1: Resi Club and Residential Real Estate Media | 5 | 3 | 3 | 6 | Pomp pitches his residential real estate data business Resi Club and its partnership model. Sam directly challenges Pomp's entry pricing strategy, calling the $150 annual fee stupidly low, which Pomp defends as a calculated price-discovery tactic. | |
| Navigating False Starts and Nikita Bier's Startup Framework | 7 | 4 | 2 | 4 | Pomp discusses iterative launches and false starts using Nikita Bier as an example. Shaan delivers an insightful counter-analysis, distinguishing between Nikita's viral growth hacks and true sustainable social networks with long-term retention. | |
| Serial Acquirer Brad Jacobs and Hidden Industry Tycoons | 6 | 5 | 1 | 1 | Pomp and the hosts trade deep-cut knowledge regarding serial acquirer Brad Jacobs and private industrial tycoons. Sam adds specific context about United Rentals and XPO Logistics, creating a balanced peer exchange on rollups. | |
| Business Idea 2: Automated Municipal Enforcement and Urban Taxes | 5 | 4 | 2 | 2 | Pomp introduces the concept of automated municipal enforcement using computer vision to help cash-strapped cities capture fines. Sam and Shaan contribute municipal data points regarding New York City's congestion and mansion tax brackets. | |
| Business Idea 3: AI Agents and Freelance Marketplace PE Rollups | 7 | 3 | 2 | 5 | Pomp presents a tweet demonstrating automated AI opportunity scouting, which Shaan dismisses as impractical demo-ware. Shaan then pitches a concrete business idea to roll up high-ranking Upwork and Fiverr accounts using AI to widen operational margins. | |
| Managing a Multi-Company Portfolio, Buy vs. Build, and Executive Lore | 4 | 4 | 4 | 2 | Pomp explains his criteria for buy versus build and his portfolio management matrix. When Sam claims he prefers single-project focus, Pomp humorously calls him out as a liar for running multiple side ventures alongside Hampton. |
Statements from this episode (17)
Pompliano worked directly with Zuckerberg and Sandberg at Facebook
“I worked directly with, you know, Mark Zuckerberg and Sheryl Sandberg for a short period of time at Facebook when they were trying to figure out how do they grow their audiences on Facebook?”
Pompliano: Kim Kardashian will become US President one day
“I think she's going to be president of the United States one day.”
Pomp: The viral skills for a sex tape win modern presidencies
“Actually the same thing that makes the sex tape go viral gets you elected to be president today. So like in some ways it's actually the exact same skillset, just, you know, packaged up in a different way and with different ambitions or aspirations.”
Pompliano: Mark Yusko provided early seed capital for Tiger Global
“Julian was like, hey, this kid, Chase Coleman, who now runs Tiger Global, he's leaving. I'm gonna give him some money. And he sent him down to go talk to Mark and Mark gave like the sixth and seventh million dollar to Chase Coleman to start Tiger Global.”
Pompliano: Julian Robertson spent an hour interrogating him on Bitcoin
“He sat with us for an hour and just kept berating me with questions and just trying to actually understand Bitcoin and blockchain technology and all these things.”
Pompliano: Bill Miller was the only investor beating the S&P 500 for 10 straight years in the 1990s
“There's a book that I recently read where he was the only investor to outperform the S and P 500 for 10 years straight in the nineties.”
Pompliano: Bill Miller was Amazon's largest outside shareholder at around 15%
“And I think at one point he was the single largest outside shareholder of Amazon and owned like 15%.”
Pompliano: Wall Street refused a $1M bet against Bitcoin over 10 years
“We issued a million dollar bet to anyone on Wall Street. And we were like, we'll take Bitcoin. You take any other asset, like just pick anything over the next 10 years. If you beat us, like you get a million bucks. If Bitcoin outperforms, we get a million buck…”
Pompliano: Warren Buffett was the original finance influencer and master marketer
“Warren Buffett was the original finance influencer, right? And I, I've joked a million times that if he was today, Buffett in his thirties, he'd have a sub stack, a Twitter account, a podcast. He'd be streaming on TikTok, like doing all this stuff.”
Pompliano: Top content creators post spontaneously rather than using structured marketing calendars
“Whether it's Twitter, whether it's podcasts, whatever, the people who tend to be good at it, don't think of it and like sit down and like create a marketing calendar. Like, I dunno, they're like taking a poop and they pull out their phone and they start tweeti…”
Puri: Resi Club is realistically a $50M-$100M bootstrapped win
“This is like a 50 to a hundred million dollar win bootstrapped. I think it's gonna be great. You know, maybe more, but like, I think that's a very realistic outcome from this”
Puri: Nikita Bier's Gas made $7M to $8M gross revenue in six months
“I think in basically, like, a six-month span, it made, like, seven or eight million dollars in, you know, gross revenue with, like, you know and, you know, it was very profitable for him in that period of time, then he sold the thing”
Pompliano: David Tepper's personal taxes funded 3% of New Jersey's budget
“He was in New Jersey and he was responsible for three percent of the state's budget and the taxes he personally paid. And he moved to Florida.”
Pompliano: Startups will use computer vision to automate municipal fine enforcement
“So I think there's going to be an entire rise of businesses that just use computer vision to do the same thing. Like anything that can be automated will be automated rather than have humans with their lazy eyes walking around, just have computers that constant…”
Puri: Upwork generates $3B to $4B in annual GMV
“Upwork has like, I don't know, Three or four billion dollars of GMV every year of people basically paying for tasks that get done in Upwork.”
Pompliano: Founders do a disservice by meddling after six months
“After the first, I don't know, six months, like, the company works or it doesn't. And if it works, then actually I'm probably doing the company a disservice if I'm, like, still meddling in the day-to-day, like, decision-making and leadership of the business.”
Pompliano: Buying $5M-$10M companies is lower risk than building
“I think where it's harder is like, Hey, the business is worth like ten million dollars or five million dollars. And you're like, that's like two years of progress. Versus not spending the money up front and like, maybe you get there. That's where I probably le…”