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My First MillionThe Next Billion Dollar Business Idea Using ChatGPT (#444)
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CHAPTERS
- 0:00 – 7:56
AutoGPT, BabyAGI and the Self-Finishing To-Do List
Shaan explains AutoGPT and BabyAGI, which break a task into steps and carry them out instead of just describing them. He pitches a to-do list app that actually does your to-dos, and compares it to note-taking apps that grew to a few billion dollars.
- •ChatGPT's growth and search traffic compared with Web3, Ethereum and Taylor Swift
- •AutoGPT and BabyAGI use agents that pass tasks to each other to complete multi-step work
- •The 'Magic To-Do List' idea: calling for quotes, booking and scheduling for you
- •Shaan expects Google and others to compete, but calls the opportunity next level
- •AutoGPT is currently a GitHub project that people will likely productionize into sites
- 7:56 – 15:02
HustleGPT: Turning $100 into a Business with ChatGPT
Sam brings up HustleGPT, where Jackson Greathouse Fall gave ChatGPT $100 and followed its instructions to build a business. They walk through the affiliate site it designed, the viral attention and the small revenue versus larger investment.
- •ChatGPT told him to buy a domain, make a logo with DALL·E 2, start a newsletter and run Facebook ads
- •The site, Green Gadget Guru, drew attention mainly from a viral tweet
- •Site revenue was about $130, but a few thousand dollars came from people investing
- •Shaan calls it a stunt that shows where things are headed
- •Shaan used ChatGPT to build a P&L for his e-com brand and Sam wants it to do his taxes
- 15:02 – 21:09
Fears About AI: Scams, Voice Impersonation and the Paperclip Problem
Shaan asks whether Sam is scared of this power. Sam mentions Elon's upcoming interview and Dharmesh's calmer view, while Shaan describes AI-powered scam calls and explains the paperclip optimization thought experiment.
- •The same tools that save money could be used to find vulnerabilities or cause harm
- •Sam is not afraid yet but wants to see Elon's interview
- •AI phone calling can scale scams against grandparents, including cloned voices
- •Shaan notes a medical billing company he invested in uses AI calling for good
- •The paperclip optimizer shows how a wrong goal could lead a powerful AI to bad decisions
- 21:09 – 23:37
Why Ignoring AI Isn't an Option
Sam and Shaan contrast AI with hyped trends like Web3, saying this is a wave you can't skip. Shaan compares it to personal computers, the internet and mobile phones.
- •Sam says parlor-dinner questions about crypto and Web3 were pointless, but this one applies
- •Some waves can be ignored, while others like the internet touched everything
- •Shaan says a company that doesn't add intelligence competes with both arms tied behind its back
- •Sam agrees this is one thing that's actually important
- 23:37 – 28:02
Visiting Brett Adcock's Robot Factory
Sam describes visiting Brett Adcock's humanoid robot company, Figure, and recounts his founder background. He covers the robots, the business model and Brett's view that hardware is easier than software.
- •Brett sold Vettery/Hired, built Archer, then put nearly all his money into Figure
- •The factory has about 60 people from places like Tesla and Boston Dynamics
- •Business model: robots working 20 hours a day, charged at about 30% of a worker's pay
- •Brett says it will either go bankrupt or become a trillion-dollar company
- •He argues physics gives hardware strict constraints, making it easier than a blank-canvas software problem
- 28:02 – 32:44
Boston Dynamics, Amazon Warehouse Robots and Self-Driving Cars
They discuss how Figure differs from Boston Dynamics, which Brett calls a research company. Shaan describes Amazon's warehouse robots, and Sam talks about how self-driving in a Tesla changed his mind.
- •Brett says Boston Dynamics is a research company, not built to make products people buy
- •Amazon's warehouse robots bring racks of bins to packers, coordinated by one central brain
- •Shaan expects industrial and manufacturing work to be automated and the companies to be big
- •Sam became a believer in Tesla self-driving after using it for a week
- 32:44 – 38:04
The Webby Awards War with Kara Swisher
Sam and Shaan explain that My First Million was nominated for a Webby in the business podcast category. They describe Kara Swisher's tweet about not losing to them and their playful campaign asking listeners to vote at mfmpod.com/webby.
- •HubSpot submitted the podcast, which is up against four nominees including Kara Swisher's Pivot
- •Kara Swisher tweeted that she couldn't lose to a podcast called My First Million
- •Sam fired back at what he called snobbish elitism
- •They say they lost a lead of about 80% of the votes after her campaign
- •The plan is to mail the Webby to her if they win
- 38:04 – 43:10
Brian Davis's $7 Billion Offer for the Commanders
Sam raises Brian Davis's offer to buy the Washington Commanders and suspects it's a scam or a marketing ploy. They discuss his background and joke about making their own absurd offer for press and backlinks.
- •Brian Davis, a former Duke basketball player, offered $7 billion with $1 billion in cash within 24 hours
- •Sam suspects the offer is fake, since Davis's company claims a $50 billion value
- •Shaan notes prior failed attempts to buy teams and says it doesn't smell right
- •Sam wonders whether a ridiculous offer is a cheap way to get news coverage
- •Sam says it gave him an idea for getting backlinks for Hampton
- 43:10 – 49:43
Kayfabe on TikTok: Faking Authenticity
Shaan explains kayfabe, the wrestling term for manufactured storylines, and shows how it plays out on TikTok. Examples include fake podcast setups, staged routines and a fake podcast clip promoting an OnlyFans.
- •Kayfabe means presenting staged performances as genuine
- •People buy podcast mics and pose as if talking to a host to seem authoritative
- •Staged nightly routines look vulnerable even though they are set up
- •A fake podcast guest clip drove traffic to an OnlyFans
- •Shaan says marketing is a constantly shifting game, so juice what works while it works
- 49:43 – 55:16
How Social Media Warps Comparison for Kids
Sam and Shaan reminisce about the cool kids of their youth, then discuss how TikTok and Instagram now show the top fraction of people everywhere. They worry about the effect on teenagers' egos.
- •Sam's childhood idols were Zach, Blink-182 and Tony Hawk
- •Shaan's was Casey Prusman, the cool kid he compared himself to
- •Today kids compare themselves to the top .1% from every town
- •Sam says everyone on TikTok looks like a nine, with no gap that feels closable
- •Shaan calls it a WMD for the ego and jokes the For You page should be renamed
- 55:16 – 58:30
200K Subscribers, the Gentleman's Agreement and the Premium Giveaway
To close out the show, Shaan celebrates reaching 200,000 YouTube subscribers. They explain the Gentleman's Agreement of subscribing in exchange for free content and give away a YouTube Premium subscription to a commenter.
- •The channel hit 200,000 subscribers, with a joke about a kiss at a million
- •The Gentleman's Agreement asks viewers to subscribe to pay for the free content
- •They ask people to turn on notifications and watch on YouTube
- •A commenter who wished them a 'premium Easter' wins YouTube Premium
- •Next, the funniest use of 'premium' in the comments will win
