My First Million
00:01:22 · Shaan Puri, Sam Parr
[00:01:22] S0: Yeah. Bananas. Think they only own like 2% of the company now. Right? [00:01:26] S1: Like seven... Like 14 or something. But each
00:01:29 · Shaan Puri
[00:01:29] S0: is like two and a half percent or something like that. So so, you know, on one hand, you see tons of people making hay, and you're like, oh, I wanna get in on that, but it feels very competitive. On the other hand, you think, well, if I just go build this thing, isn't it gonna be obsolete in a day? You know, what's the future of software? So I I I really started thinking about where would I go if I really wanted to make something happen right now? And so let me show you kind of like my quick thoughts on this. Skate to where the puck is going, not where it has been, Michael Scott. And so, you know, the the goal is what in four or five years is gonna be something we look back at and say, man, that was... Now was the time that we should have been doing that. Five years ago, the thing to be doing was to go work at one of these model companies, OpenAI, Anthropic, you know, so on and so forth. And so using AI to create video, like runway, images, like mid journey, text, like ChatGPT, you know, those are the things to go build. It was not obvious at the time. But for a small number of people, they did see that. They saw around the corner. They saw that this is the place to be. That's where the action is. So where do I think the action will be over the next five years? So, you know, right now, what you will hear about with AI is AI is amazing. You'll hear about coding. You'll hear about personal agents like Instinct or Muse or Grok Bot, and you'll be hearing about LLMs. But, Sam, you see that in the far left corner? You see that down there? Yeah. Just says, look over here. There's something else smaller around the corner for you to go look at. And I call this AI in the world of things. And so I think that using AI in the world of, you know, bits, which is basically like digital stuff, I think has very low returns. I think using AI... Anybody who's like, I'm using AI to make content. It's a race to the bottom there. I think using AI to make make software, SaaS, right, make tools, I think is, you know, kind of a race to the bottom. You know, do it if it's just where your heart is, but to me, that's not where the opportunity is. So where is the opportunity? I think it's in the world of things. What does that mean? So the first place I would go look is Drugs and miracles. So if you go look at... There's...
00:03:38 · Shaan Puri, Sam Parr
Somebody posted this tweet the other day that was, here's a list of people that are curing their own cancer right now. And it was basically like, you know, the guy from GitLab who used, you know, tech, right, AI plus plus, to sequence his tumor, to then find... To run through, like, possible drugs that could do it, to then synthesize them, compound them, research them, ultimately take them and shrink his tumors and get rid of his cancer. The guy cured his own cancer. [00:04:04] S1: He has a service that you could sign up for. My friend with cancer signed up for it, and he's doing great.
00:04:04 · Sam Parr, Shaan Puri
[00:04:04] S1: He has a service that you could sign up for. My friend with cancer signed up for it, and he's doing great. [00:04:09] S0: And so the... And there's like seven other people that are doing the same thing. And in general, the idea that we are gonna apply AI to science, to biology, to developing new drugs... You know, a drug typically took ten years and $2,000,000,000 to make and had, like, a eighty or ninety percent failure rate. It's a pretty tough game. And because of those numbers, only drug companies of a certain size really play that game. And I think what Eli Lilly's doing is awesome. They are... Like, Eli Lilly's, like, you know, leaned in super hard to AI. They're, you know, they're buying compute like they're like they're one of the tech companies or, you know, the way Citadel is spinning up its own data centers or, Jane Street, you know, spinning up their own data centers to be able to apply AI in the world of finance. They're applying AI in the world of drugs. And so Google has this company called Isomorphic that Demis, the the kind of founder of DeepMind who was running AI, he's now just kind of like all in on isomorphic, which is basically, great. How do we cure cancer? How go do solve some of these big health problems? And now is the perfect time to go build a new type of drug company, a new type of health company. And so I think that's super exciting. That's one place to look. Any thoughts on that, or do want me go to the next
00:05:19 · Sam Parr, Shaan Puri
[00:05:19] S1: one? Yeah, no, I think it's awesome. We're seeing it firsthand, our good buddy, Ben, old producer Ben, had the most dire outlook, and he still is not out of the weeds, or out of the woods or whatever the phrase is, but he posted an update that he's doing way better. And when he tweeted out about this, because he has a big following, he had all the nerds, all the AI nerds, like reach out to him and he like got hooked up with all the right people. And he is a recipient of some of this stuff. So we're seeing like our buddies, like actually survive or or or prolong their lives because of this is awesome. [00:05:50] S0: I mean, if you haven't seen it, go watch Ben's tweet update. I... It was like, I I opened up my phone on Saturday morning, watched that thing, and basically crying. I was just so happy. [00:05:59] S1: He looked so much better. [00:06:01] S0: Yeah. He looks better. He sounds better. I mean, he's doing better. Right? He's like, it's... You know, he's like, still got cancer, but it's, I mean, a dramatic improvement from this drug. And the way he tells the story is amazing. Everybody go watch that. It'll it'll it'll make your day. So... Okay. So I think this is, like, a super exciting space. If you're a smart person, join one of these companies. Go build one of these companies. Like, there's never been a better time to go do something that has high impact, and the technology window has opened or new things are gonna happen, there's new results possible that really, that technology window was not anywhere near as attractive in the past.
00:06:01 · Shaan Puri, Sam Parr
[00:06:01] S0: Yeah. He looks better. He sounds better. I mean, he's doing better. Right? He's like, it's... You know, he's like, still got cancer, but it's, I mean, a dramatic improvement from this drug. And the way he tells the story is amazing. Everybody go watch that. It'll it'll it'll make your day. So... Okay. So I think this is, like, a super exciting space. If you're a smart person, join one of these companies. Go build one of these companies. Like, there's never been a better time to go do something that has high impact, and the technology window has opened or new things are gonna happen, there's new results possible that really, that technology window was not anywhere near as attractive in the past. Ad[00:06:36] S1: Oh, do you see that? I just stepped over a million dollar problem, a million dollar business idea. And that's the thing, most people walk by these million dollar ideas all the time, and they don't even notice. And so our friends at Starter Story, they put together a list of 90 business idea. Each one is vetted. They're all real problems, real gaps in the market because they talk to hundreds of entrepreneurs, and they put together this amazing stuff that's incredibly well researched. And so if you wanna find a bunch of amazing business opportunities, you can get it for free. Just scan the QR code, or click the link in the description.