Problem: This “My First Millions” Podcast titled “13 Businesses Making $1M/yr without any employees” popped up on my YouTube suggested and it seemed extremely exciting to me! However, within 5 minutes I was disengaged. I couldn’t get through the whole video. I wanted to learnings, but I really didn’t like the style of the show. Was there a better way? Welp… Yeah! GPT-4!
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Solution: I asked GPT-4 to summarize the video for me and pull out each of the businesses.
After a few tweaks, it gave me a pretty good summary.
Attempt 1:
Biggest One-Person Business: Stardew Valley, Streamyard, and Plenty of Fish
This section focuses on highly successful businesses that are managed by a single person. Key takeaways include the power of creating a unique and engaging product (as with Stardew Valley) and the rapid scaling potential of online services during events like the pandemic (as with Streamyard). The discussion about "Plenty of Fish" is unfortunately cut off and doesn't provide more context.
Highest Degree of Difficulty: TinyWow and Photopea
This section appears to focus on businesses that present a high degree of difficulty in terms of execution or competition within their industry. However, the discussions about TinyWow and Photopea have been cut off in the transcript, so additional context is not available.
Easiest to Recreate: GetCyberLeads, Lenny Rachitsky, and Marketing Examples
This section discusses businesses that are easier to replicate, likely due to lower barriers to entry or less complex business models. Unfortunately, the discussions about GetCyberLeads, Lenny Rachitsky, and Marketing Examples are cut off in the transcript, so more detailed context is not available.
Most Fun: Joe Rogan and Gym Streak
This section seems to highlight businesses that are both successful and enjoyable to run. These businesses could likely combine personal passion with profitability. However, the discussions about Joe Rogan and Gym Streak have been cut off in the transcript, preventing a more detailed summary.
Business You Would Most Want to Own: Milled and BuiltWith
This section discusses businesses that have appealing characteristics that make them desirable to own. The businesses mentioned, Milled and BuiltWith, may have desirable attributes such as profitability, market position, or business model. Unfortunately, the discussions are cut off in the transcript, so additional context is not available.
Rookie of the Year: Joseph Mambwe and Only Finder
This section appears to spotlight new or emerging businesses that have shown significant promise or success in a short period. However, the discussions about Joseph Mambwe and Only Finder have been cut off in the transcript, so more detailed context is not available.
Worst of the Best: The Van Trump Report
This section features a successful business, The Van Trump Report, but also highlights the drawbacks of running such a business. The main drawback discussed is the high time investment required to produce daily content. This highlights the importance of considering work-life balance and sustainability when evaluating business opportunities.
Attempt 2:
Streamyard
This section discusses the concept of "biggest one-person business" and highlights Streamyard as an example. Streamyard is an online streaming platform that was scaled by two people to $30 million in revenue in about 18 months, largely due to the pandemic. They eventually sold it for $250 million in a mix of cash and stock. This segment demonstrates the power of creating a unique and engaging product and the rapid scaling potential of online services during global events like the pandemic.
TinyWow
In the section on "highest degree of difficulty," the mention of TinyWow is brief and embedded in a discussion about the challenges businesses face when scaling, particularly in high-growth and high-demand situations. There's a reference to Twitter's early days and the constant issues they faced trying to keep the service up and running. However, the specific details about TinyWow are not present in this snippet.
Photopea
Similar to TinyWow, Photopea is also mentioned in the "highest degree of difficulty" section. The discussion continues from the challenges of scaling and maintaining service availability during high-growth periods. The challenges of working at an early-stage, high-growth company like Facebook are also discussed. However, the specific details about Photopea are not present in this snippet.
GetCyberLeads
The mention of GetCyberLeads falls in the "easiest to recreate" section, focusing on businesses with lower barriers to entry or less complex business models. The discussion around GetCyberLeads is, unfortunately, cut off, and the specific context or details related to GetCyberLeads are not provided in this snippet.
Milled
Milled is mentioned in the "business you would most want to own" section, indicating that it has characteristics that make it appealing to own, such as profitability, market position, or business model. However, the specific details about Milled are not present in this snippet.
BuiltWith
BuiltWith is also mentioned in the "business you would most want to own" section. The discussion around BuiltWith seems to be cut off, and the specific context or details related to BuiltWith are not provided in this snippet.
It’s not perfect, but it’s a great start for what might eventually become a platform that allows for anyone to learn anything through summaries of long-form content.
Contributed by: Michael Bervell (Billion Dollar Startup Ideas)