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My First MillionCan You Get Rich with A Blue Collar Hustle? | My First Million Q&A (#457)
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WHAT IT’S REALLY ABOUT
Q&A on startups, “enough,” deal-making, and living deliberately
- Sam and Shaan debate “sweaty startups” versus internet businesses, emphasizing that many paths work but the best choice depends on the lifestyle tradeoffs you want.
- They share examples of interesting businesses that didn’t take off (a photo-request social app and an attempt to buy homes fully online), using them to discuss what makes products stick—or not.
- They discuss what “enough” means, contrasting Sam’s view of recurring financial worry with Shaan’s view of enough as building days where the activity is its own reward.
- They outline how to handle deals that nearly close but fall apart, including emotional detachment, expecting delays, discounting offers by probability-to-close, and disclosing problems early to build trust.
- They touch on career strategy (using college as a “gold mine”), stock-compensation selection via “Sara’s List,” and mindset frameworks like the three W’s and internal locus of control.
IDEAS WORTH REMEMBERING
5 ideasThey like “sweaty startups,” but would choose internet businesses for lifestyle and leverage.
Sam says any route to making money is fine, but he personally prefers “digital” businesses because they can require little capital, are location-flexible, and can scale in ways that feel harder in brick-and-mortar.
Choose your game based on the problems you want, not the opponents you fear.
Shaan argues you should pick the way of “winning” that matches the lifestyle problems you’re willing to have, and says the idea of “not competing with Stanford grads” is a catchy line but not the real reason internet startups fail (they fail because you can’t get attention or the market doesn’t want it).
“Enough” can be a daily-state definition, not a number.
Sam says he’s repeatedly hit financial targets he thought would remove anxiety, but the worry returns; Shaan reframes “enough” as arranging days where the activity itself is the reward, citing the idea that retirement is stopping the sacrifice of today for an imagined tomorrow.
In M&A, credibility to close matters as much as headline price.
Both describe expecting deals to fall through and trying to stay emotionally detached; Shaan adds a rule-of-thumb that even successful deals often “break up” (walkaway moments) twice before closing, and he shares advice to discount offers based on how far along they are and perceived ability to close.
Radical upfront disclosure can speed deals and reduce painful late surprises.
Sam recommends proactively revealing “skeletons” early in a deal process to avoid wasted time and build trust; Shaan confirms he used this approach during the Milk Road sale and says the buyer later told him it materially increased trust.
WORDS WORTH SAVING
5 quotesYou die of starvation, not murder, when it comes to startups, internet startups.
— Shaan Puri
I was just sitting there eating Chick-fil-A on top of a gold mine. I didn't even really look down and realize what I was sitting on.
— Shaan Puri
So I changed my opinion to, uh, this, like any deal that I have, it's going to happen, to it will not happen, but I will act as if it's going to, but just assume it's not going to and then if it does I will be happy.
— Sam Parr
The three big ones, the three big buckets are the three Ws: waiting, worrying, and wanting.
— Shaan Puri
And the answer is really there is no problem. You are the plant, just fucking grow.
— Shaan Puri
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SPEAKERS
Sam Parr
hostEntrepreneur and co-host of My First Million; founded The Hustle and sold it to HubSpot.
Shaan Puri
hostEntrepreneur and co-host of My First Million; former product leader and investor known for startup and business analysis.
High quality AI-generated summary created from speaker-labeled transcript.