#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly

My First Million

Shaan (@ShaanVP) and Sam (@TheSamParr) talk about an astrology app that has been creating controversy throughout Silicon Valley -- Sanctuary. VCs have come out against the app as pseudoscience, but the guys question their logic. These kinds of apps go into the bucket of "me-businesses" or businesses that tell the user about themselves. So from there, the guys brainstorm on ideas within this framework. The second half of the episode is focused on "personal monopolies" -- the concept of creating a big personal brand and monetizing it. We talk about a few people who have done it successfully and how you can too.

---------

* 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:

* (5:42) The controversy behind an astrology app

* (20:18) Brainstorming "make-it-about-me" businesses

* (28:40) Shaan and Sam's "one-night stand" businesses

* (38:11) Why you shouldn't overthink your idea

* (45:21) Personal monopolies: Michael Buffer, Judge Judy, and Ryan Seacrest

* (54:57) Sam's Tim Ferriss story