#16 - TRT Subscriptions, Cord Blood Banking, Digital Museums

The Hustle's My First Million presents a new weekly show: Million Dollar Brainstorm. Host Shaan Puri (@ShaanVP) and The Hustle CEO Sam Parr (@theSamParr) sit down and discuss what side hustles, trends and big business ideas that's keeping them up at night. This week they shoot the sh*t about some real estate hunting, pets on socks, TRT subscription service, digital museums, voluntary suffering retreats, cord blood banking, sperm freezing and remote enterprise software ideas. If you enjoy this and would like a weekly briefing on super in-depth research in these trends, Sam has offered 50% discount on The Hustle's Trends newsletter, use code "MILLION" while signing up to https://trends.co. See acast.com/privacy for privacy and opt-out information.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Shaan Puri?

  Okay, so we're here. It is Friday morning. I'm here with Sam from The Hustle, the CEO, the big baller shock caller of The Hustle. Sam has probably the most ideas in his head of anyone I know. So let's dump them out every week and see if this is a fun podcast. This will be different than our normal interviews. We're not telling a story. In fact, Sam already came on and told his story earlier in this, you know, in this podcast history. So this is more, let's shoot the shit, let's talk about what's interesting. I want to start with, what are you experimenting with right now?

• 0:27Sam Parr?

  So I'm looking to buy multifamily units or residences in St. Louis, Missouri, particularly because I'm from there, but also I think it's a good place for cash flow properties.

• 0:37Shaan Puri?

  Okay.

• 0:37Sam Parr?

  The appreciation is like nonexistent.

• 0:39Shaan Puri?

  Right.

• 0:40Sam Parr?

  But it's frustrating because with like tech, like we'll double our revenue for another year at least. And that's great. And, you know, by year two or year three, we're making seven figures in cash flow.

• 0:54Shaan Puri?

  That's not how real estate works.

• 0:55Sam Parr?

  And, and we, and we could have started that with, well, I started the thing with nothing.

• 0:58Shaan Puri?

  Yeah.

• 0:59Sam Parr?

  So it's like you turn nothing into something, but it's far more volatile, I guess, maybe.

• 1:03Shaan Puri?

  But what, what's making you want to do this, right? So those are the reasons it's bad, but you're still doing it. So why are you doing it?

• 1:09Sam Parr?

  Mostly to experiment. I think that it's important to take our internet winnings and put it elsewhere.

• 1:15Shaan Puri?

  Get it off the internet.

• 1:16Sam Parr?

  Yeah, because like when you think about it, what happens is if, I think that Google, I think their employees are all just going to mass quit. Or like something crazy is going to happen. And I'm like, what, what will happen to Google? Do you know what I mean?

• 1:27Shaan Puri?

  So you're thinking like Armageddon style?

• 1:29Sam Parr?

  Yeah, I think that company's going to like collapse on itself, though it's probably like.

• 1:33Shaan Puri?

  See, I just think about it differently. For me, the appeal of real estate is, okay, I have this money now. It's in the bank. That's doing nothing for me. I could put it in the stock market. That feels like sort of a sucker's game. Real estate, okay, cool. I can own assets that are tangible assets, not like the internet, and get a check every month without going to a job. That sounds good to me.

• 1:51Sam Parr?

  No, I like that. It's just, if I see something interesting on the internet, I like to be able to have that cash and be able to plop some big check down and like do it right away.

• 1:59Shaan Puri?

  So what's happening? So you're looking at four unit places?

• 2:01Sam Parr?

  Yeah.

• 2:02Shaan Puri?

  Multifamily, but not huge. So four unit, why? Just to learn?

• 2:06Sam Parr?

  Just to learn, yeah, they probably range in cost between 300,000 and 600,000.

• 2:10Shaan Puri?

  You gotta put down what? So let's say 400,000, you're gonna put down 25% or something like that.

• 2:15Sam Parr?

  Probably 30.

• 2:16Shaan Puri?

  30%, okay, so you're putting down, you know, 120K.

• 2:19Sam Parr?

  Yeah.

• 2:19Shaan Puri?

  And then you said you got a 10% return annually, so you're profiting.

• 2:24Sam Parr?

  10%, yeah, like profit, basically, yeah.

• 2:26Shaan Puri?

  12K profits every year.

• 2:28Sam Parr?

  Yeah.

• 2:28Shaan Puri?

  And how do you feel about that?

• 2:29Sam Parr?

  Slow, so.

• 2:31Shaan Puri?

  So are you gonna do it?

• 2:32Sam Parr?

  Yeah, I'll do it because if, yeah, I, I think it's good to learn. The reality is you have to have like huge scale, so like if you wanna make a million bucks a year, or you gotta at least get levered up to 10 million.

• 2:43Shaan Puri?

  Right.

• 2:43Sam Parr?

  Or probably 12.

• 2:44Shaan Puri?

  And are you, who's managing this? Your parents are gonna manage this? Are your family back in St. Louis? Cause that's the other thing, right?

• 2:50Sam Parr?

  I threw around the idea of having them do it because they're retired, but you can get a property management company for 5% a, a month.

• 2:56Shaan Puri?

  Of the rent.

• 2:57Sam Parr?

  Yeah.

• 2:57Shaan Puri?

  Yeah, okay, alright.

• 2:58Sam Parr?

  That's what I think I'll do.

• 2:59Shaan Puri?

  Okay, so that's the hustle you got going on right now.

• 3:01Sam Parr?

  That's what I'm, I'm spending, I'm spending, spending most of my time doing that.

• 3:04Shaan Puri?

  Can I tell you about my hustle?

• 3:06Sam Parr?

  Yeah.

• 3:06Shaan Puri?

  My paternity leave hustle?

• 3:07Sam Parr?

  Oh, you're on leave now?

• 3:08Shaan Puri?

  I was on leave, so I took two weeks off, not, not, not a long leave.

• 3:11Sam Parr?

  Don't you get six?

• 3:12Shaan Puri?

  You get six, but I didn't wanna take it all right away because I learned now that dad is kinda useless during the first.

• 3:19Sam Parr?

  Yeah, well, because the kid's like an alien and he only needs one thing and that's his mom.

• 3:23Shaan Puri?

  Yeah, exactly, um, so I tried to be helpful to her, like I, she feeds the baby, I feed her. But, yeah, so I did that for a couple of weeks and I'm saving the rest of my leave for whenever I'm a little bit more useful.

• 3:32Sam Parr?

  Do they give you a bonus?

• 3:33Shaan Puri?

  What do you mean? Like a dad bonus?

• 3:34Sam Parr?

  Facebook gives a $5,000 bonus.

• 3:36Shaan Puri?

  No, they sent some flowers, so I thought that was nice. Someone's EA sent some flowers, that's cool, but no, no bonus. In fact, the actual policy's kinda messed up, which is that if you actually take official paternity leave, your stock stops vesting, which is like insane, especially because at Amazon, most of your compensation is stock. So instead, I just took vacation time, because they have unlimited vacation policy and a limited paternity leave policy.

• 3:57Sam Parr?

  I know people, I know a friend who knew he was gonna have children and he was independently wealthy because of selling a company, and he decided to work there anyway because he took the six-month paid leave and like he.

• 4:08Shaan Puri?

  But you have to be there for a year, so there's some of the technicalities, you have to work there for a year to qualify.

• 4:13Sam Parr?

  I don't, I don't think about, I don't know if.

• 4:14Shaan Puri?

  It is Facebook too.

• 4:15Sam Parr?

  Really?

• 4:16Shaan Puri?

  Yeah, yeah, because when we were doing the acquisition process, I looked into both policies and both of them were, you gotta work here for a year to qualify. Anyways, so during paternity leave, there's a lot of random times where you're just up at 2 AM, because you're just like holding the baby or like, you know, trying to get to go to sleep, there's nothing to do. And so I was thinking like, basically, what can I do with one hand right now? I'm holding the baby with one arm, one arm is free. And so we have this friend, Eric, who has the sock company.

• 4:39Sam Parr?

  Yeah.

• 4:40Shaan Puri?

  He basically prints custom socks.

• 4:42Sam Parr?

  Like teespring, but for socks.

• 4:44Shaan Puri?

  Exactly. And so he started off in this goofy way. He started doing it for pet influencers of Instagram.

• 4:48Sam Parr?

  Yeah, which, which went well.

• 4:50Shaan Puri?

  Which went really well. And then he kind of leveled up to like, you know, Twitch streamers and then YouTubers and then bands. And now he's just doing it for companies. And so I was talking to him and he said, he's like, I have this new method where I can print like just one pair at the same price that, you know, if you want to do a bunch of volume, like I could just do one custom pair. And he's like, I was like, interesting. So like, who's using that? And he was like, you know, there's this guy who created this website that said, upload a picture of your pet's face and I'll put your puppy on some socks.

• 5:16Sam Parr?

  Oh, I have some.

• 5:17Shaan Puri?

  You have that? Okay, great.

• 5:18Sam Parr?

  Yeah, I have.

• 5:18Shaan Puri?

  So he was like, he was telling me.

• 5:20Sam Parr?

  I paid 25 bucks for it.

• 5:21Shaan Puri?

  Yeah, 25 bucks.

• 5:22Sam Parr?

  Got two pair.

• 5:23Shaan Puri?

  He's like, this guy was selling like thousands of dollars a day. He's like, I had to tell him to stop. I couldn't keep up with the level of demand he had. So he moved on to another printer or whatever. So I was like, okay, paternity leave. This is like an easy drop shipping business that I could start. He's going to fulfill the socks. I've, I like, I already know the product quality is good. He's telling me that this guy's made money doing it. And so with one hand and one night, I basically created a affiliate program where I, where I just went on Facebook, started running ads for the same idea, pet face, to put your pet's face on some socks. And I can report that I've sold one pair of socks so far. So the first one was $5 of ads in and one sale of $25 out, of which, you know, my margin was, you know, about 50%.

• 6:05Shaan Puri?

  So I was like, oh, easy, all day, $5 in, $12 out, like.

• 6:09Sam Parr?

  Well, have you ever done any ad spend before?

• 6:11Shaan Puri?

  Well, I've done it, but not for.

• 6:13Sam Parr?

  Have you spent a lot of money?

• 6:14Shaan Puri?

  No, so.

• 6:15Sam Parr?

  So I've spent maybe $5 million of Facebook ads.

• 6:17Shaan Puri?

  Yeah.

• 6:18Sam Parr?

  Maybe, no, probably more. I don't know. It'll get more expensive.

• 6:21Shaan Puri?

  Yeah. So that's exactly what happened. So, so basically.

• 6:24Sam Parr?

  Don't let the first like.

• 6:25Shaan Puri?

  $50 yielded zero sales and I was like, okay, what's going on here?

• 6:30Sam Parr?

  Nope, it's going to get more expensive.

• 6:31Shaan Puri?

  It's a, so yeah, that's what's happening. But then now I'm back from paternity leave. So that, that experiment goes out the window, but it was a fun night of experimentation. And that next morning, when I saw one sale, I was like, ah, I've done it.

• 6:41Sam Parr?

  Well, what I would have done is, I don't know if you did this, I would have targeted people who like very specific breeds.

• 6:48Shaan Puri?

  Yeah, I didn't do that. I just went for women because I found out that most people who buy this, they buy it as a gift. Actually, they don't buy it for themselves. Like, the majority of people who buy these pet socks are giving it away.

• 6:58Sam Parr?

  I'm gonna do this this weekend.

• 6:59Shaan Puri?

  I tried that.

• 6:59Sam Parr?

  I'll do it this weekend.

• 7:00Shaan Puri?

  Yeah, try it. Do it better than me and report back.

• 7:01Sam Parr?

  Okay.

• 7:02Shaan Puri?

  And I'll give you, you can use my affiliate links. It's all set up. Just, just do that.

• 7:05Sam Parr?

  Alright, I'll do it this weekend.

• 7:06Shaan Puri?

  You keep the winnings. Okay, so that was my, my random hustle. What else do we like? What else is interesting?

• 7:10Sam Parr?

  Okay, so there's three or four things that I'm interested in right now. I actually did research on a few of them very in-depth.

• 7:16Shaan Puri?

  For this podcast?

• 7:17Sam Parr?

  For life.

• 7:19Shaan Puri?

  For this podcast.

• 7:19Sam Parr?

  For this podcast. Well, because we write about this stuff on Trends.

• 7:23Shaan Puri?

  Yes.

• 7:23Sam Parr?

  And so I research this stuff and our team researches this stuff for Trends and...

• 7:28Shaan Puri?

  So give me one.

• 7:29Sam Parr?

  Okay. TRT. Do you know what that is?

• 7:32Shaan Puri?

  Is this, I've heard Joe Rogan talking about TRT. What, it's a testosterone?

• 7:35Sam Parr?

  Testosterone replacement therapy. Okay. Basically, I've done a lot of the research. I've spoke to...

• 7:41Shaan Puri?

  You've also done some inpatient testing.

• 7:43Sam Parr?

  I've tested it. Yeah, I've tested it and I feel great. I'm just incredibly fascinated with it. Basically, in the last handful of decades, the average testosterone in men has decreased, something like, the average is down like 40% from like the 1930s. It's pretty significant. The reason why is, well, people aren't sure. Maybe because we use plastic, maybe because we live pretty soft lives. And the downsides of having low testosterone are, men feel depressed, you don't feel the good kind of aggression and ambition. It could lead to heart attacks, blood pressure issues. Just, there's, there's a lot of downsides.

• 8:13Shaan Puri?

  Okay, so this is not like just steroids to get jacked?

• 8:15Sam Parr?

  No, no, no. I'm talking about being at a healthy level of testosterone.

• 8:18Shaan Puri?

  Okay. Like, how do I know what my current testosterone level? I have to go to a doctor and get tested or what?

• 8:23Sam Parr?

  You have to get your blood drawn. And so...

• 8:25Shaan Puri?

  And what's normal, what's a normal level?

• 8:27Sam Parr?

  Once you become 30, it starts decreasing every year.

• 8:29Shaan Puri?

  Okay.

• 8:30Sam Parr?

  So let's just say you're a 30-year-old. Your peak would be probably, I imagine, 28, maybe. Your testosterone would be, I don't know the exact unit, but it'd be something like 800, I think it's milliliters.

• 8:38Shaan Puri?

  Okay.

• 8:39Sam Parr?

  So anyway, but a lot of people are like way below that. And when you have low testosterone, you start getting chubby. It's just, a lot of downsides. It's legal to prescribe testosterone to someone, totally legal. It's against the rules in sports, but it is not illegal.

• 8:50Shaan Puri?

  For society, yeah.

• 8:51Sam Parr?

  Yeah. But it's actually really hard to get prescribed. But here's the thing. There's a few things that I found as a business person that were interesting. The first thing is, once you start it, it's recommended that you take it forever. So low churn if you do it right.

• 9:03Shaan Puri?

  And why is that? Cause your natural production goes down because the TRT is like

• 9:07Sam Parr?

  Yeah, basically, if you have low testosterone and you start taking this and you stop taking it, you're gonna go back to feeling like crap.

• 9:13Shaan Puri?

  Alright, so I have a science nerdy question.

• 9:15Sam Parr?

  You just don't get better.

• 9:15Shaan Puri?

  Nerdy question, you may not know the answer, but are you actually taking testosterone? Are you taking something that makes you produce testosterone?

• 9:20Sam Parr?

  No, no, no, it's real testosterone.

• 9:22Shaan Puri?

  So you're injecting the actual testosterone?

• 9:23Sam Parr?

  Yeah, and there's really like two ways to do this. You can put some gel on, which I'm not, I don't know a lot about, or you can inject it, and that's what most do, which means you put a needle in your butt two times a week.

• 9:34Shaan Puri?

  Two times a week, okay.

• 9:35Sam Parr?

  Yeah, or one time a week, but typically two times a week.

• 9:38Shaan Puri?

  Two times more than I currently do. The benefits are there.

• 9:41Sam Parr?

  And so what I've done is I went and called like the three or four biggest ones. One of the biggest ones was called Low T Center. It's this guy named Mike. He bootstrapped it. I think he's in his eighth year. He's at a hundred million in revenue.

• 9:52Shaan Puri?

  Wow.

• 9:52Sam Parr?

  And what he has done is he has little centers that you can show up to. And then there's a handful of people like that. And I've noticed a couple of things. The first thing is that the majority of these people who are doing this testosterone stuff, it's advertised to like this middle-aged, middle America man with a shitty goatee who loves like football and eats pizza and like wants to like feel like it's the old days and like wants a tacky Harley. Okay, good. God bless him. My hypothesis is, and testosterone is growing like crazy. And as we're seeing particularly our friends, like nerds who just like, well, I wanna, I do keto for this reason, or I do low carb for this reason, my sleep schedule this reason. I think testosterone is gonna get super popular amongst that niche.

• 10:29Shaan Puri?

  So I'm buying this. This is good. This makes a lot of sense to me. So the idea would be

• 10:32Sam Parr?

  And it's about 250 a month.

• 10:33Shaan Puri?

  To do like a D to C style thing. Could you, could you prescribe this via like telemedicine? Or no?

• 10:38Sam Parr?

  There's, so from the, I'm not a doctor and I'm not a legal guy, but just through my research and talking to people, what I believe is possible is you have to have a doctor registered in each state that you prescribe in. The patient has to meet with your company in person.

• 10:53Shaan Puri?

  I see.

• 10:54Sam Parr?

  And so what I think what would work, and I've tried a service that does something like this, where a nurse comes to your office and draws your blood and then talks to you about if you get prescribed, here's how to do it, here's how not to do it, here's whatever. They go and draw your blood on your app. It says boom, your thing's here. Schedule a time with the doctor. You call the doctor and they go, okay, you either do qualify or you do not qualify. If you do qualify, we're gonna mail you your medicine and we're gonna check in with you every month. 250 a month is what I would charge, cash. No insurance. I won't even deal with that.

• 11:24Shaan Puri?

  Right.

• 11:24Sam Parr?

  And then I would figure out how to do that stuff later.

• 11:26Shaan Puri?

  Yeah, that's good. I like this. This is a good one.

• 11:29Sam Parr?

  Yeah, I'm incredibly interested by this.

• 11:30Shaan Puri?

  Okay. To the point where, because if I'm listening, I'm like, that sounds awesome. He sounds interested in it. He literally has taken the thing. So he is, you know, personal connection to the idea.

• 11:39Sam Parr?

  I have to learn about the science behind it. I think for most people have said that there's been very little blowback on long-term testosterone use. But I still think I gotta look into it a little bit more. I also gotta look into legality of the whole D to C model for T. But I know for a fact it's possible because I'm using it right now.

• 11:55Shaan Puri?

  Yeah, great. I love that one. The other one I liked from Trent's email was about digital museums.

• 11:59Sam Parr?

  Yeah.

• 11:59Shaan Puri?

  So I think the one that was in there was like, I think Borderless or something like that. It was a digital museum in Japan.

• 12:05Sam Parr?

  Yeah.

• 12:06Shaan Puri?

  Doing a hundred million dollars a year.

• 12:08Sam Parr?

  Yeah, crazy.

• 12:09Shaan Puri?

  With a fresh take on an old idea, which is museums. And what they're doing is like these digital art displays, you know, using, you know, different sort of projections, lasers, different stuff like that. Is that the idea?

• 12:19Sam Parr?

  Yeah. And so these things are getting more popular. So we've saw it with the Museum of Ice Cream.

• 12:23Shaan Puri?

  Exactly.

• 12:24Sam Parr?

  We've seen it. There's this thing called Kitty something.

• 12:26Shaan Puri?

  If somebody doesn't know Museum of Ice Cream, because that's not available.

• 12:29Sam Parr?

  Ice Cream. It sparked outrage. I tweeted a Wall Street Journal article and it says Museum of Ice Cream raised fifty million dollars at a three hundred million dollar valuation. People flipped out. What Museum of Ice Cream is, it's probably a twenty or thirty thousand square foot place in a probably a very expensive neighborhood. And these guys rented out and I've never been in one. I've walked by it. Is it just like statues of ice cream?

• 12:49Shaan Puri?

  So you walk through. No, so you walk through and it's basically an Instagrammable museum. So like.

• 12:54Sam Parr?

  Yeah, everything's set up for Instagram.

• 12:55Shaan Puri?

  A normal museum, I think they like discourage you from taking photos of the art because they don't want it to like mess up. But here it's the exact opposite. The idea is it's an immersive thing. So like, there'll be a room full of sprinkles. Like, it's just like a giant pit of sprinkles. And what you get to do is you get to jump into it and somebody's, your friend's gonna take your photo while you do it. And then you take a photo of them while they do it. And now, boom, you got some Instagram material.

• 13:16Sam Parr?

  And they're shared and that's how they get more customers.

• 13:18Shaan Puri?

  That's how they get more customers.

• 13:19Sam Parr?

  This business, people were shitting on it because the headline was, sounds outrageous, like, oh, this ice cream museum is three hundred million dollar company. It's like, no, no, no, no, no. The ice cream museum is not three hundred million dollar company. A company that earned like. Thirty or forty million dollars in the third year of business that probably made ten million in income, that is worth that.

• 13:39Shaan Puri?

  Right.

• 13:39Sam Parr?

  And, yeah, it's cool.

• 13:41Shaan Puri?

  So this is, this is to me, part of a bigger trend, which is Instagrammable experiences.

• 13:45Sam Parr?

  And by the way, this whole thing with the museum that Trends wrote about, ice cream thing, this is a very clear path. And the reason I know it's a clear path to get popular is, you have to look at, like, there's like these, I've created these like categories on how to make food go viral. So like, if you go to Thrillist or BuzzFeed, it's like in New York when Croissants or like a cookie dough place goes viral. And, and so I'm like, man, these, someone's gotta be popping up these restaurants all the time. And so it's like, well, what do you do? Well, you take like, one food item that's typically a side, and you make that the main thing.

• 14:13Shaan Puri?

  Right.

• 14:13Sam Parr?

  You take one normal food item and you change the color. You take one normal food item and you change the size.

• 14:18Shaan Puri?

  Yeah, you make it gigantic or super small.

• 14:20Sam Parr?

  Yeah. Yeah. And it's like, just do one of those three things.

• 14:23Shaan Puri?

  Or you take two food items and you smash them together, make a cronut.

• 14:26Sam Parr?

  Yep. So like, you could have like, a bagel rainbow, like a rainbow bagel, or like, a fondue bar, or like, cheese. Okay, how do you make like cheese? Like, well, just make it like, the nacho store.

• 14:37Shaan Puri?

  Right.

• 14:37Sam Parr?

  Like, you know what I mean? Or like-

• 14:39Shaan Puri?

  Giant doughnut factory.

• 14:40Sam Parr?

  Like, ice cream and cookie dough. Get rid of the ice cream. Cookie dough only.

• 14:43Shaan Puri?

  Right.

• 14:44Sam Parr?

  Yeah. The museum is awesome.

• 14:46Shaan Puri?

  The museum is awesome. We did Spartan Run together, to me, that's also like these, which is like-

• 14:50Sam Parr?

  Hundred million dollar plus business.

• 14:52Shaan Puri?

  Spartan Run, Tough Mudder, these are big businesses now that sound very simple. And what they really are is a chance to, is it sort of like a faux toughness, a faux wilderness? It's like, yeah, I work in an office all day. Once a year, I'm gonna go do this outdoorsy thing where I get muddy and I have to climb this thing, I get electric shock.

• 15:07Sam Parr?

  And we're gonna be covering this as well, which is retreats. But basically, I have this theory that men in America have never had this like rite of passage to become a man.

• 15:15Shaan Puri?

  Mm-hmm.

• 15:15Sam Parr?

  And because of that, we've all kinda had like relatively soft lives, and we're missing this like, oh, I gotta feel like a part of something. That's what Spartan Race, I think, is. That's what Iron Man is, which sold for five hundred million dollars to a Chinese company.

• 15:26Shaan Puri?

  Voluntary suffering.

• 15:27Sam Parr?

  Exactly. And so I envision these types of things getting far more popular. There's this one thing called like Wake Up Warrior, I think it's called. I, I met a guy at a conference, and he has this thing where grown men come, and they live like a Navy SEAL for like five days. And he was doing like fifty million in revenue.

• 15:41Shaan Puri?

  Yeah, if you combine all three, I think there's a toughness movement, where there's a back to nature movement, which is just getting off of screens, digital detox, get out in the world. And then there's the Instagrammable Moments movement. And you see these come together like festivals. There are these outdoor things that are, you know, sort of away from technology more than, you know, you're not at your laptop, you're not in your office, you're out. And then it's Instagrammable in the sense that you could share this thing and you look cool for doing it.

• 16:08Sam Parr?

  And you have to add in the sharing thing to your company because that's your distribution to get more customers.

• 16:13Shaan Puri?

  Right.

• 16:13Sam Parr?

  That's super important.

• 16:14Shaan Puri?

  I like how this one also twisted back towards men needing to be tougher and have more testosterone through their veins.

• 16:19Sam Parr?

  Clearly a theme. Okay, can I name two more?

• 16:21Shaan Puri?

  Go for it.

• 16:22Sam Parr?

  Okay, I have just thought about this over the last week, so I don't have a lot of insight into it yet, but it's another man thing, but that's obviously what I'm into. But you could do it for women, actually, but sperm freezing.

• 16:35Shaan Puri?

  Okay.

• 16:35Sam Parr?

  So.

• 16:36Shaan Puri?

  Similar to egg freezing.

• 16:37Sam Parr?

  I was thinking about it. I'm like, I saw an ad and someone was like, it's a hundred dollars a year to freeze your sperm. And in my head, I was like, I don't think I have a need to, but for only a hundred dollars a year and it like, that's awesome insurance. And that's another like lifetime subscription thing.

• 16:51Shaan Puri?

  Yeah, but what, so egg freezing makes sense because there's like the biological clock where it stops, whereas men continue to produce sperm for a very, very long time. So is it that?

• 17:01Sam Parr?

  Yeah, but if something bad happens.

• 17:02Shaan Puri?

  Quality sperm or it's just super insurance to you?

• 17:05Sam Parr?

  Yeah, imagine if something bad happens.

• 17:06Shaan Puri?

  So I have a better one. Do you know what cord blood banking is?

• 17:09Sam Parr?

  No.

• 17:09Shaan Puri?

  Okay, so just had a baby. This is a big, big business. When you have a baby, you have the umbilical cord. And normally, back in the day, you just, you know, dad gets to cut it, gets thrown away, it's over. Well, what's happened is with stem cells, people are realizing that, yeah, so the umbilical cord is like, I don't know the exact science behind it, but it's like, this is the most valuable set of cells is in your cord blood. And so you, what you do is you, when you deliver the baby, the nurses ask, are you banking your cord blood? And you're like, yeah, I am. So then they do this procedure, somebody comes, picks it up and you pay, I think it's like a thousand or a few thousand bucks upfront, plus a few hundred bucks a year for your whole lifetime.

• 17:45Sam Parr?

  Did you do it?

• 17:46Shaan Puri?

  Yes. I did it because the, it's insurance against what, you know, if you ever got leukemia. Or some like

• 17:53Sam Parr?

  No brainer.

• 17:54Shaan Puri?

  You're gonna wanna have this in the bank.

• 17:56Sam Parr?

  Yeah.

• 17:56Shaan Puri?

  Like my cousin had a had a blood disease like this and so and she didn't have it banked. She was able to be saved by somebody else's cord blood, which is crazy.

• 18:03Sam Parr?

  Can that person sell that to that like?

• 18:05Shaan Puri?

  So you can't sell it. You can either go public or you can keep private. So you can put it in the public bank, which is good, helps people. Or you can keep it private just for you and your siblings because your siblings are the closest match for you. And a lot of the sales pitch is like, hey, we don't even know what we're gonna be able to use it for. It might be able to do even more than what we know today.

• 18:22Sam Parr?

  But you're like, yeah, I would risk that.

• 18:23Shaan Puri?

  And so now for for, you know, 18 to 35 years, I'm gonna be paying this.

• 18:27Sam Parr?

  Okay, well, what was the company name?

• 18:29Shaan Puri?

  It was like cordblood.com. It was like some like, it was like the generic thing. Yes, pretty old school.

• 18:33Sam Parr?

  That would be interesting if you could probably tell on Facebook and Instagram targeting if someone's pregnant or like soon to be a mom or soon to be a dad.

• 18:41Shaan Puri?

  Facebook knows. I don't know how easy it is to target, but but yeah, that was one where I was like, your LTV is gonna be so high.

• 18:46Sam Parr?

  Man, I would.

• 18:47Shaan Puri?

  That you can just do TV ads, radio ads, Facebook ads, whatever you want and.

• 18:51Sam Parr?

  I'm gonna go research this later. That's that's cool.

• 18:53Shaan Puri?

  Check that out.

• 18:54Sam Parr?

  That is super cool because what I would want to do is get people to prepay before they have a kid. And then you just have someone there to get it if that's how it works.

• 19:01Shaan Puri?

  Uh, well, yeah, that's kind of what we did. We we researched beforehand. Are we gonna do this or not? And we arranged with the company and so they were there the day of pickup.

• 19:08Sam Parr?

  Okay, so what was the weaknesses in the companies that you used or you're advertised against?

• 19:13Shaan Puri?

  You know, my wife did the buying process, so I don't know. It seems seamless for us. Uh, the big thing for me was just like, oh, my God, this is like an amazing business. It wasn't that the existing businesses were bad. It was just, wow, this is an amazing business. Go become one of those players. So I like that one. You said you had another one.

• 19:27Sam Parr?

  Yeah, I got two more, but I'll tell you one and because you like the story. Okay, so Zoom conferencing. By the way, did you see I I posted on my Facebook.

• 19:34Shaan Puri?

  This was amazing.

• 19:34Sam Parr?

  I posted on my Facebook, uh, our conferencing system sucks. What should I use? I got like 50 comments. They're awesome. And then the CEO of Zoom.

• 19:41Shaan Puri?

  How did he even find you? Somebody tagged him or?

• 19:44Sam Parr?

  Someone must have tagged him and then just friended me.

• 19:46Shaan Puri?

  And he's known for this, the CEO of Zoom, which is a public company, one of the biggest teleconferencing companies in the world.

• 19:51Sam Parr?

  Yeah, they might be like a 15 billion dollar company.

• 19:53Shaan Puri?

  He does like customer service on Twitter for people and he doesn't just say like, hey, we'll look into it. He's like, hey, Sam, can you send me the file so that I can check on this for you? You know, I'll get back to you.

• 20:02Sam Parr?

  Well, he told me that he's gonna be my rep.

• 20:04Shaan Puri?

  Yeah, so he came into your Facebook.

• 20:05Sam Parr?

  So he friended me on Facebook, which isn't like, I'm not a random guy. We got friends of friends. And I've probably hung out with him before. I don't even know it. But yeah, so he commented, he goes, hey, I think you should use Zoom. Here's why. And he like said why and it was cool. So anyway, Zoom has advertised with us. They've spent five or six figures with us over the course of our business through advertising. And my sales guys, our president, Adam, he was like, hey, so Zoom is crushing it on these ads. We weren't in the position to do anything like this. He's like, I wish we could like invest in them. Like, cause they're about to go public and we think this stock is gonna crush. Cause we see how these ads are going and I started looking into this and a lot of our remote things that you use to work remotely are booming. The ads are doing great. And so I'm quite bullish on

• 20:50Shaan Puri?

  Remote work.

• 20:51Sam Parr?

  Remote work and tools that make that possible. And even the good ones still all like, I think are pretty bad. And two years ago, if you would have told me my work, my company would be remote, I'd be like, that's the stupidest thing ever. Now it's like, it's clearly we're gonna do that.

• 21:04Shaan Puri?

  That's the direction it's going, yeah.

• 21:05Sam Parr?

  Yeah, I mean, cause think about it, in 20 or 30 years, we're gonna be like, how archaic was it that you could only have a company that hired people at a 20 mile radius? That's super archaic. So I'm quite bullish on that. So conferencing is, I'm not bullish on that because that's, that's

• 21:20Shaan Puri?

  Super competitive.

• 21:21Sam Parr?

  Been there, done that. Yeah, it's doing good. I like VPNs. So that's kind of remotey. VPNs, I think huge companies can be built there. The leading players are like 200 million dollar a year businesses that are really scammy.

• 21:33Shaan Puri?

  Well, there's also like, like, for example, at Twitch, we use Cisco's VPN, right? So like, I think for consumers, they use these scammy

• 21:40Sam Parr?

  Like freelancer.

• 21:41Shaan Puri?

  To watch like, you know, like movies and stuff. But then for companies, I think they use like probably Cisco and others.

• 21:47Sam Parr?

  Yes. So I'm talking about like these like freelancer, small guys, cause that's all I know. Okay, then what remote tools are you interested in?

• 21:53Shaan Puri?

  So there's one I really like. It's a startup that through, I invested in Ryan Hoover's fund and he invested in this company. I don't know if this is supposed to be public, but. Whatever. So, one of the big problems with having remote workers is that when you have a worker who's in another jurisdiction in Canada versus Ukraine versus UK versus whatever.

• 22:11Sam Parr?

  The paperwork is a pain.

• 22:12Shaan Puri?

  There's compliance issues like crazy.

• 22:13Sam Parr?

  It's horrible.

• 22:14Shaan Puri?

  So, there's this company called Deal, D-E-E-L.

• 22:17Sam Parr?

  D-E-E-L.

• 22:19Shaan Puri?

  I think their URL is something like "Let's Deal" or "Get Deal" or something like that. But basically, it's a "Just push a button and we'll take care of all the paperwork and compliance. We'll make sure that you're compliant across all your remote staff."

• 22:29Sam Parr?

  We just went through this. I'll use this.

• 22:31Shaan Puri?

  Yeah. And so, I think this is a brilliant idea. I think it's kind of one of those problems that's kind of annoying to solve, but once you solve it, it's just valuable to all these companies. So, I think this company is going to do really, really well. I'm at a super early stage right now, but I love that tool. I love that concept. I think that's a really important concept. The only other one that is kind of interesting to me is a theme, which is you had Microsoft Word, and then for the like, remote generation, you have Google Docs where everybody can collaborate on it.

• 22:56Sam Parr?

  Dude, it gets too messy. Google Docs, it gets too...

• 22:59Shaan Puri?

  But it's big, right? The people prefer collaboration over the sort of siloed, "Save a file on my computer, you don't have access to it" type of thing. That's crazy, right? Like, that's clearly the old world. Then you have Excel, and now Airtable is doing that for Excel, where it's like this cloud collaborative version of this where you can share the link and do stuff there. You have Trello, which is like a to-do list that everybody can contribute to. So, one idea, one way to brainstorm here is like, what's something that people use at work that is today not collaborative? Like, Figma is a big one. Where Photoshop was this private thing?

• 23:27Sam Parr?

  Yeah, man. I just saw their ad. Maybe someone from here will be listening. I saw their ad on the highway the other day. Totally worked. We signed up.

• 23:32Shaan Puri?

  Yeah. Figma's great. And it's Photoshop, but it's...

• 23:35Sam Parr?

  When I see it, I'm like, "Why is this not..."

• 23:36Shaan Puri?

  It's in a browser.

• 23:36Sam Parr?

  I was like, "Why is this not already a thing?"

• 23:38Shaan Puri?

  And it's cool, because you can see like, the other designer's mouse moving around, moving stuff around, and you could like, type a comment and be like, "Hey, actually, try moving that to the left." It's a different way to collaborate. So, the question is, what's left? What is something that today, we all still do solo, you know, single-player, and we should be doing it multiplayer? And so, I don't know what's left. Like, design has been done, Docs has been done, Excel has been done, but there might be something still in the sort of workflow or workspace, and maybe it's by vertical. Maybe like, consulting companies use this one thing a lot, or defense contractors use this one thing. But like, everything that's a solo-player thing will be multiplayer. That's my theory.

• 24:10Sam Parr?

  That's a... Very interesting. For us, what we're experiencing is like organizing your company documents is not collaborative at all. So like, I'm like, hey, who's got our list of computers that we own? Or like, where do we keep like our mission statement and values and stuff like that? Or like, where's our taxes? Who's got our taxes? Like, the other day I flipped out. I was like, I was like on the verge of firing people. I'm like, why can't I see our taxes? Where's our taxes? Someone give me my taxes? Or like, what software do we use for this thing? I'm like, how do I, what is this thing? You know what I mean?

• 24:38Shaan Puri?

  Yeah, and the bigger a company gets, the more difficult that problem gets.

• 24:41Sam Parr?

  That's an interesting product that I was thinking about is like, just a really simple app that just, it lists every single piece of software that your business uses and it says how much you're paying for it.

• 24:52Shaan Puri?

  Yeah, that's a good one. There's, okay, so one more on the remote thing that I thought of was All Hands. So like, do you do a company All Hands?

• 24:58Sam Parr?

  Yeah, it's, they're horrible.

• 24:59Shaan Puri?

  And so, a lot of people just use Skype or Zoom or whatever.

• 25:03Sam Parr?

  We use High Five. Sorry, High Five, it's not good.

• 25:04Shaan Puri?

  And so, I think that somebody could make a specific All Hands app. Because All Hands is like different than a normal conference, right? So like, you have the video stream, which needs to be private and secure. You don't want anybody to be able to get access to this. If somebody missed it, can they catch up? It should be recorded also. People ask questions, either anonymously or through their name, for the leadership to answer.

• 25:23Sam Parr?

  That's a good idea.

• 25:23Shaan Puri?

  So I think somebody could just make an All Hands app, because now I think a lot of, especially tech companies, all do All Hands every week.

• 25:29Sam Parr?

  So you were at a 10, 15 person company, now you're at a

• 25:33Shaan Puri?

  2,000 person company.

• 25:34Sam Parr?

  200,000 person company or whatever.

• 25:36Shaan Puri?

  Yeah, Twitch is 2,000, Amazon's like, whatever.

• 25:38Sam Parr?

  What problems do they have that you never even knew was an issue?

• 25:43Shaan Puri?

  All right, I have a list here, so.

• 25:44Sam Parr?

  Because I've never worked at, the biggest company I've worked at, at this point, is my company, which is like 30 or 40 or whatever we are. And people tell me like how big companies work. They tell me about Cisco. I'm like, I don't even know. I don't even know what Cisco does.

• 25:57Shaan Puri?

  So I made a list of things that I noticed, because I was like, during my time at a big company, one of the most valuable things you can get is the idea of problems these types of companies have. That could be the start of a new startup someday.

• 26:08Sam Parr?

  Yeah, and that seems like, like, super easy to make money, because then you just make it sell to your manager.

• 26:12Shaan Puri?

  Right. And so, and actually, it goes in both directions. I have a list called Import/Export. Import means, if this existed, Twitch would buy it, because I see the problem. And if there was a solution out there that was actually good,

• 26:21Sam Parr?

  They would buy the company or they would buy the software?

• 26:23Shaan Puri?

  They would pay for the software. They would pay for the solution.

• 26:25Sam Parr?

  Can you list all of them?

• 26:26Shaan Puri?

  Export is stuff we've built internally, just hacked together.

• 26:29Sam Parr?

  Can you send me this list after? Can I post this?

• 26:31Shaan Puri?

  I will. Exports is everything that we do that we built, you know, one off just for us, but actually should be productized and given away to other companies.

• 26:38Sam Parr?

  Okay.

• 26:38Shaan Puri?

  So I'll give you an example of each. Okay. So All Hands app is one of those problems that I think if we had a better all hand solution, we would actually use it because today we've stitched together three things and tried to make it work. And people always complain. And it's also something that the CEO always participates in. And so you have like the guy at the very top.

• 26:54Sam Parr?

  And he's like, this is shitty.

• 26:55Shaan Puri?

  Yeah, he wants his problem solved. And we'll like be like, throw the money at the thing. Great. Let's do that. Okay. So that's one. The other is the ability to like, it takes us a long time to spin up entities in different countries we want to operate in. So it's like, oh yeah, we want to go into India. Oh, we need a legal entity. Oh, that's going to take six months. And it's like, why isn't there like a faster way to just spin up these entities?

• 27:14Sam Parr?

  I think, by the way, with India in particular, I think it just takes that long. I think it's the government.

• 27:18Shaan Puri?

  Yeah, but there's gotta be a faster way to do this. There's to solve that problem. Another one, okay. So when people come into the office, I don't know if you've seen this, but they have these like iPads where you sign in. So to me, this is like a brilliant idea. It's like every company has this where visitors come, they need to sign in, sign the NDA, print a badge. And that company's really, really valuable. There's a couple of companies that are really valuable. I really want to find out what's another problem like that that we have. I don't know if I've got one, but one thing I did notice is every employee has a key card to enter and it's not like a smart card. Like there's no additional security benefits of this. There's no like data that the company's getting about this. So I just thought there's probably a smart key card.

• 27:54Sam Parr?

  Do you remember all these companies that would do like these local deals where you like use your keychain at the burrito place and you get your 10th burrito free?

• 28:02Shaan Puri?

  I've never seen this.

• 28:03Sam Parr?

  There's, there's, there are tons of them. It's like the.

• 28:05Shaan Puri?

  So local business tied into your.

• 28:07Sam Parr?

  Yeah, they're always like the, those are always popular. I mean, there's like a hundred companies. We should do that with those keychains. Like the, whoever does the keychain company would be like, by the way, you also get 10% off at Starbucks.

• 28:17Shaan Puri?

  Yeah, that's a great one. Okay, cool. I like that. Okay. And I'll give you an example of the other side, something that is really good in the company that could be exported. And actually this isn't from Twitch, but it's from Facebook. So. Facebook has a thing internally that's, I think their name for it is like Deltoide or something like that. There's this amazing tool, which is whenever you make a change to the website, this really works for software companies, so if you don't run a big software company, it's probably won't matter to you. But if you run a software company, every time you make a change, you want to see the result of that change. We change this button color because we think it's going to get more clicks. But there's also all the other metrics of your company that matter, like, you know, you don't want to reduce signups, or, you know, if you're Facebook, you don't want people posting less photos because you started promoting stories, or whatever, right? And so Facebook has this thing where every time you ship a change, it prints, it automatically gives you, gives that person a dashboard of all the key metrics, and it tells you, did

• 29:02Shaan Puri?

  anything move as a result of your, the release you pushed out? And so you don't have to go look up and see, did I break something? Did anything else get better? It just hands you that every time you push out a release. It just goes and checks all the key stuff and gives you a report. And so I think that is a

• 29:16Sam Parr?

  It's complicated.

• 29:17Shaan Puri?

  A thing that every software company ultimately needs. I see at Twitch, we need that, because we'll push something out that might help our stuff, but we don't know if it affected anything else, all the other key stuff at the company. We maybe, we may not find out for six months.

• 29:29Sam Parr?

  You know what would be cool is if I was Facebook's competitor, or whoever's competitor, if they just sent me all the tests that they're running each day.

• 29:35Shaan Puri?

  Yeah, I like that. You, you know, you could do this with like Facebook ads, right? It's so useful.

• 29:38Sam Parr?

  Yeah, yeah, the Facebook ad archive. It's a little bit manual. I would want people to eat, like

• 29:43Shaan Puri?

  Show me the changes that my competitors are making?

• 29:45Sam Parr?

  Or like, my competitor just launched these new landing pages. And the way you could do that, by just figure out like all the new pages at their URL.

• 29:51Shaan Puri?

  Right, be on top of it.

• 29:52Sam Parr?

  Yeah, it's just new pa, yeah.

• 29:54Shaan Puri?

  Yeah. Okay, we're running out of time. We blitzed through a ton of ideas.

• 29:58Sam Parr?

  I, I want that list of import, export. I love that. I think that a lot of people overcomplicate things. One of the easiest ways, I think, to build a company that would make millions of dollars is to create something that productized, something your team currently needs, and sell it to them.

• 30:11Shaan Puri?

  Right.

• 30:12Sam Parr?

  It's like, it's just like, just tell me what you want. It's very easy.

• 30:16Shaan Puri?

  Love it. We're out of time, we gotta go to work now. Our Friday has officially begun.

• 30:19Sam Parr?

  It's 10:01.

• 30:20Shaan Puri?

  Yeah, good stuff. Uh, you want to leave everybody with, uh, any, any cool stuff that's coming on in the hustle? Anything news?

• 30:26Sam Parr?

  Sign up for trends.

• 30:27Shaan Puri?

  I like trends.

• 30:27Sam Parr?

  The reason why you should sign up for trends is it's a paid subscription, so it does cost money. But we just do this. This is what it is, except a lot of the ideas that we said, I heard about this. Well, we've just go and research all of it and we actually figure out the truth.

• 30:40Shaan Puri?

  So, so I'm a believer that like, just like you feed your body to like, if you feed your body good foods, your body gets healthier. If you feed your body bad foods, you get less healthy. So it's obviously the same thing with your brain. Feed good information, good content and your brain gets smarter and healthier. And trends to me is one of those rare things on the internet where it's not about what happened in the past. It's not about the news. It's not about somebody's life update. Trends is like, here's some things that are growing that you should think about. And, you know, I read this thing and I'm not just going to go do one of these companies.

• 31:07Sam Parr?

  Right, but it's cool to know.

• 31:08Shaan Puri?

  It gets, it's cool to know, it's cool to talk about, and it also is, it gets my brain to start noticing things like that. And so it's like.

• 31:15Sam Parr?

  And I was here when we.

• 31:16Shaan Puri?

  It's like exercise for my brain.

• 31:17Sam Parr?

  I was here the day we launched it or the week.

• 31:19Shaan Puri?

  Yeah.

• 31:19Sam Parr?

  And I was like, I don't know how to describe it, but I think it's kind of cool. And now I understand a little bit more how to describe it.

• 31:24Shaan Puri?

  Okay, what's, what's the new description?

• 31:25Sam Parr?

  Well, you, you, you did it.

• 31:27Shaan Puri?

  Okay.

• 31:27Sam Parr?

  I mean, uh, but when we were creating these reports, I was like, this is super useful. I don't know how to, I don't know yet how it's useful, but this is really interesting.

• 31:35Shaan Puri?

  Right. Here's my pitch of it. When you launched the Hustle newsletter, you told me, it's like if your best friend, they watch TV all day. They, they've read the news all day. They come in and they just tell you, here's what you need to know. And they tell it to you in a kind of a no BS tone. So they, they just tell you what it is in a no BS way. It's like your friend telling you the news. That's pretty much what the Hustle newsletter is. Trends is like my friend from the future comes back, you know, 18 months, he's, he lives 18 months in the future. And he comes to me and he says, hey, you know what? This, this CBD thing's taken off, it took off. And so if trends is my friend from the future coming and telling me what's happening. And I think that's exciting.

• 32:07Sam Parr?

  You're making my ads for me. So here's what we'll do. I will put a code, we'll call it million. Whenever this podcast goes live, we'll make it last for a week. So if you sign up now or a week after this goes live, use, sign up and use the code million and you'll be able to, uh, get 50% off.

• 32:21Shaan Puri?

  Nice. Okay, cool. Uh, all right, buddy.