How FTX Scaled A $30 Billion Company With Only 30 Engineers!
About This Episode
Sam and Shaan discuss how companies like FTX and StreamYard achieved massive valuations with incredibly small engineering teams by avoiding the coordination drag of over-hiring. They also dive into social engineering hacks for hosting the perfect party and analyze the success of 'boring' wholesale businesses like eggcartons.com.
Episode Description
Show Notes
- 03:45- Party takeaways from Nick Gray
- 24:40- Colin and Samir recap
- 32:15- FTX and not hiring many people
- 52:50- Egg Cartons
- 58:00- Whole Foods tweet
- ----
- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
- ----
- Additional episodes you might enjoy:
- #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
- #209 Gary Vaynerchuk - Why NFTS Are the Future
- #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
- * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
- #218 - Why You Should Take a Think Week Like Bill Gates
- Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
- How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Links
- * Nick Gray
- * 2-Hour Cocktail Party book
- * The 2-Hour Cocktail Party Amazon link
- * Streamyard
- * SSSTIK
- * Eggcartons
- * Sam's Tweet about Whole Foods Entrepreneur
- * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
- * Want more insights like MFM? Check out Shaan's newsletter.
- ----
Key Takeaways
Focus on talent density rather than headcount to avoid the 'diffusion of responsibility' and the non-linear communication costs that come with doubling a team.
Use specific social 'icebreakers' and event constraints, such as a harmonica for attention and a strict two-hour end time, to become a more effective networking host.
Exploit the 'ego' of social media platforms by creating content in the specific formats they are currently prioritizing in their algorithms, such as YouTube Shorts.