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#157January 27, 202151:16

#148 with Jack Smith - How r/WallStreetBets is Beating Wall Stre…

The founding story of Vungle and navigating startup incubatorsThe business model and profitability of ad networks like TaboolaThe future of anonymous social networks and digital identityMarket speculation regarding GameStop and WallStreetBets

About This Episode

Sam and Shaan are joined by Jack Smith to discuss the mechanics behind high-revenue ad tech businesses like Taboola and Jack's former company, Vungle. They dive into the cultural phenomenon of r/WallStreetBets and GameStop, while debating the long-term viability of anonymous social platforms and the shifting identity of venture capital firms.

Episode Description

Shaan Puri (@ShaanVP), Sam Parr (@theSamParr), and Jack Smith (@_jacksmith) discuss: - Balaji Srinivasan on why people will have to hide their real identities in the future - How Silkroad was actually a well-run company while co-workers remained anonymous (American Kingpin) - The crazy story of the founder of Silkroad ordering killings on his co-workers - Taboola's billion-dollar payday - Clubhouse just raised at $1B -- but are its best days behind it? - How Wall Street Bets is beating Wall Street - How Grayscale is printing money with GBTC - Why a VC firm (Andreessen Horowitz) is entering the media game Today's episode is brought to you by FOCUSAID. It’s the #1 and first nootropic drink in America that’s sold over 100m cans. For 30% off your first order, go to DrinkFocusAid.com. Check it out! Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Editing thanks to Jonathan Gallegos (@jjonthan)  See acast.com/privacy for privacy and opt-out information.

Key Takeaways

1

To validate a new business idea, call 20 prospective customers and ask about their biggest daily challenges rather than pitching a pre-conceived solution.

2

The 'beginner's mind' is often better at predicting the future of an industry because experts are typically too focused on how things currently work to see how they should work.

3

Look for emerging high-growth industries (like mobile apps in 2011) and build a solution for that industry's most glaring problem, such as user acquisition or monetization.

Business Ideas Mentioned

Taboola for Email Newsletters

SaaS

Service-First Venture Capital Model

Agency

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Featuring

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Jack Smith

6 episodes

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Quick Stats

Duration51:16
Guests1
Ideas Discussed2
Topics4