#227July 7, 20211:23:13

#197 with Dharmesh Shah - What It Feels Like to be a Billionaire

Wealth and lifestyle design Crypto-based professional networks Natural Language Processing in SaaS Management without direct reports

About This Episode

HubSpot co-founder Dharmesh Shah joins the pod to discuss his 'zero direct reports' management philosophy and his framework for valuing time at $10,000 per hour. They brainstorm the future of professional networking on the blockchain and how natural language processing will revolutionize how humans interact with B2B software.

Episode Description

Sam (@TheSamParr) and Shaan (@ShaanVP) are joined by HubSpot co-founder and CTO Dharmesh Shah (@Dharmesh). Dharmesh shares his thought process behind buying the Hustle, how he thinks about time & money, and how HubSpot came to be. They close the episode talking about ideas around a better version of LinkedIn and the future of software. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. ---------

Show Notes

* (0:57) Intro
* (9:10) The inside scoop on why HubSpot bought The Hustle
* (14:00) What it's like to be a billionaire
* (18:54) A framework on the relationship between time & money
* (24:50) Rich guy questions
* (28:24) Dharmesh on the beginnings of HubSpot
* (37:10) Idea: A blockchain version of LinkedIn
* (45:35) Dharmesh on BitClout
* (50:22) Idea: NLP, the future of software
* (53:20) Growth Bot & website graders
* (59:25) Dharmesh on GPT-3
* (1:02:55) Idea: A community for remote work
* (1:04:41) Deal trophies
* (1:06:56) A framework to evaluate startup ideas
* (1:13:55) Constructive podcast criticism
* (1:18:36) Outro

Key Takeaways

Value your time by setting an aspirational hourly rate and delegating or ignoring any task that costs less to solve than that rate.

Build a diagnostic tool for your industry (like Website Grader) to act as a lead generation engine that identifies problems your product eventually solves.

When evaluating business ideas, calculate the expected value by multiplying profit potential, passion, and probability rather than discarding high-potential ideas just because they are risky.

Business Ideas Mentioned

Professional Network on the Blockchain

SaaS

Natural Language Software Translation Layer

AI & Automation

Remote Culture Diagnostic and Community

Content & Media

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Guest Graveyard Mentions

Naval Ravikant

Drew Houston

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Featuring

Dharmesh Shah

6 episodes

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Quick Stats

Duration1:23:13

Guests1

Ideas Discussed3

Topics4