The Startup Ideas Podcast - He earns $500k/month filming Rolex trading

Starting point is 00:00:00 Hello, everyone. Good to see you, good to hear from you. Today we're going to do something a little bit different. It's just me on the pod. And I'm just going to talk about some startup ideas I have right now, some things I'm thinking about. I'm recording live from Mexico City. I got my coffee with me and the creative juices are flowing. So I figured I just hate record and tell you how I'm feeling about things. Yesterday, James Clear, the New York Times bestselling author, came out with an app called the Adams app. And for those you don't know, James is in New York Times, well, he's a New York Times bestselling author, but he's the guy for habits. If you want to get better at habit, you go to James. And he's got one of the best selling business books of all time. So he created a really beautiful app that basically drives that ritual of getting better at your habits. And it's just taken off. It's just looking at the app store. It's head of Spotify. It's ahead of HBO. It's ahead of Netflix. I think what we're seeing is this is a part of a bigger opportunity around creators and creating software products. In the past, if you were a creator, what you would do would be, you'd go the Mr. Beast approach. So Mr. Beast created a big audience. And then he created Mr. Beast burgers,

Starting point is 00:01:18 which was the ghost kitchen selling hamburgers. He created Feastables, which is a chocolate bar company. With creating physical products, you have just a lot more headaches. Supply chain, merchandising, distribution, distributors, it's a lot more difficult to get to the top selling a physical product than it is to get to the top using code. When I look at the James Clear Playbook, I think it looks something like this. Number one, you own a category. So you try to own a category. James obviously owns the Habits category.

Starting point is 00:01:52 Number two, you build an internet audience. James has spent a lot of time years building his three to one newsletter. Even if you go on his Instagram, which he has a lot of followers, I think in the millions, it's all about driving people back to the newsletter. So he spent years building his newsletter. Then you earn credibility. Number three, obviously he's a New York Times best selling author. There's other ways to gain credibility. But I think having credibility when you're launching a software product is critical. The fourth is you build beautiful software for product market fit. The Habits app isn't just an app.

Starting point is 00:02:29 It's beautiful. And I think they did a really good job. And from what I've heard from their community, it's absolutely stunning. And they love it. They're really enjoying it. So number five, you pick another habit. So you don't just build this app for one particular, use case. No, the big idea is actually you pick another habit or you pick another ritual and you

Starting point is 00:02:54 create another app or multiple apps. So I could easily see James creating a sobriety app, a fasting app. What are all the different habits that are most popular? And then he can basically unbundle his own app and create these verticals. And then I can imagine him charging a monthly for it or one-time fees for it. And number six, you essentially build a constellation software or Berkshire Hathaway, but for your word. You know, consolation software, for those you don't know, Canadian company that basically has been buying vertical SaaS apps for, I think, over 25 years. They've built this constellation of software and it's an incredible performing stock. Like, I don't have the numbers in front of me, but it's, you know, it's up thousands of percent

Starting point is 00:03:38 over the last 10 years. James could easily do something like this, easily do something like this, where he's creating multiple apps, either that he's incubating himself or with an agent. and or he's actually going and acquiring those businesses and then putting his name on it. And then step seven, he can either IPO that business, just like Constellation Software. He can sell that business, which is really important for creators because they're not longer, you know, doing the speaker circuit or being reliant on YouTube ads. They've got a business that they can rely on and actually sell the business. So I think this new creator playbook is going to be very attractive to creators because they're in the

Starting point is 00:04:18 market for creating something that, you know, they can make money while they sleep. So you can either sell the business or you can just cash flow that business forever. He doesn't need to sell it. I can see a world where he has 10 apps. Each app is making anywhere between four and $40 million a year in revenue. And he just is just cash flowing it. So I wanted to bring this to your attention just because I think there's a ton of other names, words that have yet to be claimed. And I'm thinking about this a lot. And I'm also thinking about it in the context of, you know, we have an agency called LCA, which is an innovation agency that partners with companies like this. And we actually go and create products like this. So I think that there's probably hundreds, if not a thousand plus

Starting point is 00:05:03 different opportunities where you can do this. And I think you're just going to start to see a lot of creators go the software route over traditionally what they've been going for, which is the CPG route. So that's idea number one. Something that's a thing. think about something for you to think about and think and just brainstorm. What are different words that there's opportunities. And if you're not the creator, can you partner with the creator? The second idea, you know, I've been thinking a lot about is I stumbled, you know, and I've actually talked about this on the pod like, I don't know, a year and a half ago. But I stumbled upon this guy. His name is Tyler Vukim McCorsky. It's a 20th year old guy from

Starting point is 00:05:43 Central Jersey. He's got 2.2 million followers on TikTok. And he basically goes into, the Diamond District in New York and he negotiates on luxury watches and he has a camera crew that follows him. And by camera crew, I mean like another 23 year old guy from Central Jersey that is filming him, you know, either on a camera or on just an iPhone mostly. And he's crushing it. He's crushing it in two ways. One is he actually has a paid community of other people buying and selling watches. And rumor has it that he's doing $500,000 a month of revenue just from that paid community. So what he's doing is, you know, people watch him about buying and selling luxury watches. And then he's just like, hey, if you want to buy a watch, go to Vucum verified. And he charges like,

Starting point is 00:06:31 I don't know, $20 a month to get access to this group. And it's a lot of like watch dealers or people who are in the business, but also people just want to buy a watch at a good price. Now, $500,000 a month. and the margin there is 99.9%. That's one thing he's doing. And then the second thing he's doing is he's opening his own diamond jewelry exchange in Jersey, in central Jersey. And, you know, a whole space with other people, you know, buying and selling jewelry. It's not open yet, but he's going to rent those spaces to different luxury dealers. So why is this interesting? Why should you care about it? And why should you, you know, steal this model? And we'll put up a video in this podcast, like right now, so you can listen to Tyler in one of his videos to get a sense

Starting point is 00:07:18 of what these real-time luxury negotiations look like. And by the way, he was the first to do this. Welcome back to Fast Whips. Yasha has a blue sky dwell on a Jubilee bracelet that I really need. I'm going to sell up a 24-7. I got to go pick it up from Jasmine and Melanie. Hopefully I can pay like 23 and make myself $1,700 bucks. How are you? Hi, friend. For you? The price was.

Starting point is 00:07:42 23 8. Hey, beautiful, beautiful timepiece. What are you whispering? What are you whispering? 234. I need it. Give me it. Thank you. What? 238.

Starting point is 00:08:05 I just said, yeah. Just bought this fucking thing for 238. Tony needs it. I'm about to go drop it off with them now. Hopefully it pays my asking price to 25,000. It's gonna be a fucking fucking. issue. There he is. Show Tony. What's up? How are you? Everything good? Here's the watch. Just give me 25 two. It's fine.

Starting point is 00:08:26 35 people. You said like 24-5-ish. No, I didn't say any price. I told you all good. You guys are genie. Thank you, Louie. It's nice. I don't know. What's you're going to do now? I have to go. Do you have my chain, though? Yeah, I got the chain is coming right now. Listen, let's make it very easy. 24-8. That's it. 24-9.

Starting point is 00:08:51 Done. Not you, not me. Okay. Cheers. Thank you. Okay. Pay you wire, and I'm going to get you the chain is coming in like five minutes. All right.

Starting point is 00:08:58 Anyway, 24-900 minus 23-8-h-h-h-th. Thank you. Thank you. Made $1,100 bucks on that. The day is still young. Not really. It's like 3 p.m. already. You know, I think that's what's really.

Starting point is 00:09:16 interesting is no one was recording luxury watch you know hey like i'll buy this rolex from you from 10 000 and then the seller's like no it's 8 000 and then there's the back and forth and it's all these characters and it was absolutely genius the right niche the right format the right timing he's been doing it for two years before i get into the idea that i think you can have around this he actually you know the other day gave some really good advice on how you can grow like him on social and i just want to share it real quickly. Don't do what everyone's doing. Create a new kind of video that no one else is making. So he did that like jewelry exchange stuff. Make your videos both fun and informative. Keep trying different things until something sticks. Once you find something that works, keep doing more of that and stop

Starting point is 00:10:02 doing what doesn't work. And then probably one of my favorite piece of his advice is stack what works. So if you see that people are connecting to being funny, that you're funny, do more of the funny stuff. If you see that they like more of the educational stuff and funny stuff, do funny and educational. And then post something every day, you know, obviously be consistent. My prediction here is there's 100 plus other watch talk-esque opportunities ripe for innovation. So what Tyler Vukum did for luxury watch selling, I think that there's tons of different other verticals. that you can actually go and create some new format, for example, the negotiation stuff, just bring a camera around, build, you know, it has to be a niche like luxury, luxury watches,

Starting point is 00:10:50 that, you know, there's a lot of demand and pent up demand. But I think that, you know, there's a huge opportunity to basically take his playbook of finding the right niche, finding the right format, finding the right timing, of course, and then building something, starting with an audience, and then thinking as the product to be either a marketplace or thinking about the product to be a paid community. Because that way, the margins are just so ridiculous. And you can actually take some of that profit, like what he's doing, you know, he's making $500,000 a month, and he's reinvesting that into things like real estate, you know, the physical

Starting point is 00:11:29 marketplace. And I just see this as another trend that is only beginning. And I think there's a, you know, I did some preliminary research and there's like, there is like literally 100 plus different opportunities like this. And, you know, maybe I'll, I'll talk more about some of these opportunities in future videos and on the pod. But I just wanted to get you thinking about this huge opportunity and, and just his playbook and how it sounds like so simple. But there really is, again, so many other areas you can do this for. The last idea I want to to talk about today is I've been watching the YouTuber CoffeeZilla recently. He's got,

Starting point is 00:12:10 you know, a few million YouTube subscribers. And what he does is he's basically like an investigative journalist. He like goes in front of his camera. He has his coffee and you always see it steaming up. You like the steam from the coffee. And that's kind of like his schick. And he goes and he finds people who are essentially scamming other people and he oust them. And he does really good investigative journalist. So for example, he did something on, I think, you know, Logan Paul around, he had like a crypto thing that, you know, they never delivered on the project and he goes deep on it or Grant Cardone. He talks about like why Grand Cardone scams people and stuff like that or misleads people. Now, here's my idea. I think that there's a coffee zilla opportunity, but for tech.

Starting point is 00:13:03 What I mean by that is there's a lot of action in the tech space, new apps coming out every day, AI startups, venture capitals, all this stuff. And there used to be Gawker Media, which actually covered a lot of the gossip part of technology. But I think that there's an opportunity to do something like a coffee zilla for tech where he goes or she goes or they go, you know, person goes. and investigates, hey, this person says that they're doing 8 million ARR, are they really doing 8 million ARR? Or this person just raised $100 million, but in actual fact, they raised it three years ago, but only announced it today. I just think that the tech category, because it's become so big, you know, there's hundreds of thousands, no, millions of people working in tech. There's enough of people interested in the investigative journalism slash a little bit gossipy part.

Starting point is 00:13:57 that I think that there's a huge opportunity to begin by building an internet audience there, probably YouTube to start. There are versions of this that happen. Like there's VC Braggs on Twitter. That's kind of like a jockey Twitter account. There's like a little gossipy stuff. But I'm talking about like a non-anonymous, real journalist going deep on these topics and building a real media company around it. So those are my three things.

Starting point is 00:14:27 ideas, startup ideas, niches. I'm thinking about right now. And I want to share it with you on the Where It Happens Pod because this is where we talk about these ideas. It's really the only place where you can come and I only want to talk about ideas on this podcast. And I only want to talk about ideas because I think that it'll get your creative juices flowing. And if you're working a full-time job, maybe it makes you do a side project. or maybe you even want to quit or maybe you have your own startup right now, but you're just looking to take it to the next level. So thank you for tuning in.

Starting point is 00:15:11 This has been fun and subscribe to the YouTube, at least you can do if you enjoy this and comment something. Because I read every comment. I read every comment and share this pod if you enjoyed it. So, cheers to you and have a good one. Later.

The Startup Ideas Podcast - He earns $500k/month filming Rolex trading

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.