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#246August 18, 20211:01:41

#210 - How Celebrities Have Made Billions off Their Names

About This Episode

Sam and Shaan explore the surprisingly high-revenue world of car dealerships and the diverse business empires built by celebrities like Dolly Parton and Jimmy Buffett. They also discuss the 'Die With Zero' philosophy regarding wealth distribution and brainstorm ideas for high-end physical simulations like virtual shooting ranges and cop-chase experiences.

Episode Description

In this episode Shaan (@ShaanVP) and Sam (@theSamParr) dive into a few industries and talk about the players behind them. They start off talking about car dealerships and the handful of politicians who make major coin through them. They then transition to celebrities and how some have leveraged their name to make even more money. They finish the episode with a few anecdotes on how some people started to accumulate wealth and a snippet on anti-aging and scientific discovery. --------- * 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

  • * (0:59) Intro
  • * (2:47) The Skip Barber racing school
  • * (6:48) Digitizing the gun range
  • * (10:57) The politicians making money with car dealerships
  • * (23:06) The cool growth hack used by Spoonflower
  • * (28:48) Celebrities making bank of their celebrity
  • * (35:26) George Clooney hooking up his friends with $1M cash
  • * (39:51) A feel good story about Shaan's trainer
  • * (41:58) The Bar & Bat Mitzvah hack to wealth
  • * (44:57) A unique twist on Universal Basic Income - the birth dividend
  • * (47:35) Aubrey de Grey and how scientific breakthroughs work

Key Takeaways

1

Marketplaces can bootstrap supply and demand by hosting themed design challenges that reward top creators with exposure and cash while providing buyers with fresh, trendy content.

2

The most profitable part of a car dealership is often the service and parts department, which provides high-margin recurring revenue compared to the lower margins on vehicle sales.

3

Financial legacy is more impactful when distributed while you are alive, as heirs and friends can use capital more effectively in their prime years than in old age.

Business Ideas Mentioned

Cops and Robbers Chase Experience

Boring Business

High-End Virtual Shooting Range

E-commerce

The American Birth Dividend Platform

Boring Business

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Quick Stats

Duration1:01:41
Guests0
Ideas Discussed3
Topics0