Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
Note: This transcript was auto-generated from YouTube captions. It may contain errors and lacks speaker identification. A full Gemini audio transcript will replace this.
Kind: captions Language: en can non-technical people apply there you think of course right every technical company definitely needs people that are in non-technical roles whether it’s again marketing community sales whatever whatever whatever the rules will end up being i feel like i can rule the world i know i could be what i want to i put my all in it like no days off on the road let’s travel never looking back okay um this episode is gonna be awesome and then the there’s a story behind this i don’t know if i told you this story sean but basically my wife sarah she about four or five years ago so my wife is like pretty type a went to an ivy league school isn’t particularly risk doesn’t like taking risks doesn’t want like she she’s someone who’s going to rise up in a in a big company and be an executive one day and she wanted to she was like i want to join a new company and i want to make a lot of money and she was uh sarah’s uh gonna be 29 uh next week so she was what 25 and she said i want to join a company where i can make some money so we made a list of a bunch of companies where we thought if she was given let’s say 250 000 of stock that would invest over four years we made lists of places where that stock could like 10x and that’s how she eventually she applied and got a job at airbnb that was like five years ago and now they’re i think when she joined what was their last valuation before they went public like 18 or 20 billion i think and now their valuation is like 100 i think so uh it what’s that 5x maybe so it did okay we and you and i were talking and i think you’re underplaying it it did better than okay let’s just frame this this fully right so joined a multi-billion dollar company that already had 3 000 something employees no it wasn’t that big i think it had 1200 but yes it was big all right so over a thousand employees so uh you know not joining a risky startup not buying a lottery ticket and uh so she knew this is going to have some gain it’s just a question of like some value it’s just a question of how much got a job and she wasn’t like an exec so it was kind of like an achievable thing like she came in as like yeah i don’t know like a mid-level manager is that fair to say mid-level yeah i would say yeah lower low like lower to mid right lower to mid so it didn’t even come in as a hot shot and before the age of 30 was worth it was a multi-millionaire because of the stock that that appreciated from this thing right from from from joining airbnb right so self-made multi-millionaire stuff self-made multi-millionaire without eating [ ] as a startup founder right right where you’re stressed and you’re making no money and you might fail all the time and all that stuff and you have to make payroll and all that good stuff and um you know so so had to kind of like cushy you know every day got to go in and pick which flavor of soy milk she liked from the company fridge and like had health benefits and had all the things that you get the good things you get at a company plus got to see it grow right so so i thought by the way i am i i cannot confirm or deny the multi-million dollar i i i i can’t completely blow up her spot or the the soy milk spot shouldn’t drink soy milk but the point is the point is is that airbnb was like they they pay come very competi you know they recruit people from google and facebook so they pay competitive salary you get very competitive and wonderful benefits you work really hard but it’s not a startup of 20 people where you don’t have any resources you know you have resources to to get help and so the idea with this we’re calling this sarah’s list we should come up with a cuter name one day but it’s the idea here is that we made a list of companies that are cushier than like a 20-person startup but still have wonderful upside so you can make a very competitive salary have wonderful benefits and there’s like a 5 10 15 x upside so low risk great reward you’re not going to become a billionaire doing this that’s okay most people don’t really care about that so when i heard this when we were talking i was like oh wow like um i think of myself as the hustler but this is the ultimate hustle right you know not in a bad way what i mean was like this was the hack this was the lowest low effort low risk way to get a great outcome meaning didn’t have to work 120 hours a week didn’t have to like carry the whole company on their back didn’t have to like pick a winner uh and it’s really hard to pick early stage winners it’s like no pretty clearly he was going to be a winner and still walked away with a great outcome or you know still had a great great outcome so i thought wow that’s that’s actually fantastic i think there’s a lot of people who would love that path there’s some people who want to be elon musk they want to go change the world there’s some people who want to make a billion dollars there’s some people who want to just have go sit on a beach and do nothing right but but this hey let me work at a great company with really smart people working on a cool product and let me build you know uh you know financial independence without risking it all like you know like a degenerate gambler so to me we got craigslist we got angie’s list what’s the one with the child predators i don’t know what that one’s called like molly’s list or something like that we got whatever molly’s list and now we have sarah’s list and sarah’s list is the companies that we think you could go join today they’re already valued you know over 250 million dollars um they have we think a low risk profile but if you stayed there for four years and you came in as a mid-level person and you got your grants which is like 50 000 in stock every year or something like that that that could make you a self-made millionaire or multi-millionaire that’s the that’s the thing before we get into this everything that we’re gonna say it’s not like financial advice or anything all the information that we have it’s basically what we’ve just read online or rumors that we’ve heard amongst friends none of it so like everything is hearsay and a lot of predictions right yes yeah we could be wrong but that we thought it’d be fun you know like we’re not going to go take these jobs but there’s a lot of people out there who would love to know hey what would you all recommend we know it’s not a guarantee we know it’s not set in stone we know this is just a prediction but hey some prediction is better than nothing so we’ll go on the record and we’ll see how these play out all right so we each did a research we got five yeah so you go so we have five i got more than five but let’s go you go i go and then we’ll go back and forth okay great um okay i’m gonna save my best one i’m gonna bring in second i’m gonna first jab just feel fill you out see how strong you’re coming in but my best one is coming next my power punch is coming second okay but for for the first one my first one that i’m gonna present for sarah’s list my my nomination is flexport okay okay what’s flexport so flexport is a company that you use when you are when you are shipping things so you so for example my e-commerce company we ship things we need to arrange between an international supplier we need our goods to go from their factory to our our warehouse well how do you do that you gotta you gotta go to a bunch of uh shipping carriers you gotta say hey when are you when do you have a boat leaving my my ready date is august third do you have a boat august third what’s the price they get some quotes so what flexport does this is a job called freight forwarding flexport is basically software that does this thing that used to be done pretty manually or with very old clunky software they made modern slick software that does this freight forwarding thing right so you go online you can see all your quotes you book your boat with a simple click you pay the fees it’s all you know like very nice and then the notifications come through and basically it is modern freight forwarding software so flexport’s currently valued last public valuation was about three billion dollars um the softbank put in a billion dollars at a three point uh 3.2 billion dollar valuation it’s got about 2 500 employees these are abouts so you know about 2500 employees and they’re in a huge space so global shipping is is massive it’s only getting bigger the bigger ecommerce gets and um and what they did was there was all these small mom and pop freight forwarders and they just sort of like did what many great companies do they they sort of take a fragmented market with low nps and they build a best-in-class product that’s you know integrated and so you don’t have to deal with kind of the the mom and pop telephone call game that you would have otherwise had to do and the founder is pretty amazing zayn’s is ryan peterson i’ve hung out with him once or twice and i’ve read a lot of interviews with him he’s very charismatic he once said that uh this company’s either gonna be worth zero or a hundred billion dollars or something like that you know he’s like this is gonna be all or nothing right and he’s pretty he’s very very good we should compile an ebook of quotes like that that’s like talk dirty to me the vc edition it’s like what are some offhand things you can say as a founder that just get every investor to like salivate and they they sometimes sound dumb like why would i say my company’s either gonna be worth zero or a hundred billion it’s like but that’s exactly what a vc wants because that’s how their economics work so we should just and you could just cherry-pick these phrases they’re like pick-up lines for vcs and uh and we should just make a little e-book out of those but that’s a good one all right um next one uh i’m gonna go first mine will be easy as well zapier uh so what they do it’s always really hard for me to explain what this company does but once you use it you immediately get it and i’ll give you a use case so basically what they do is they connect apis so for example when the hustle first started we had we didn’t i didn’t want to buy like greenhouse or one of these like really 500 a month applicant tracking systems and so i created a google form and then i use zapier to connect that to asana and so every time someone applied to a job the information was automatically film filled into an asana board and that’s what we use to track our job applicants another example and this is like a really simple personal use case is i had a scale and every time i stepped on my smart scale it told zapier and zapier put my weight into a spreadsheet and i compared it to all my friend’s weight and we had a competition now that’s like a really simple use case but they do incredibly complicated ones where they’ll attach loads of different so you could build an entire company using basically google spreadsheets and zapier um they’re interesting for a few reasons first they bootstrapped it to like 60 to 70 million dollars in recurring revenue and they did it very quickly they recently raised a little bit of funding at a 5 billion valuation by uh i believe sequoia they currently have 350 people um my opinion is this is going to end up very similar to atlassian so atlassian is an australian company that went public i think in 2014 and when they went public it was like a 15 or no maybe it was like a six billion dollar valuation and they sold uh widgets to small businesses software to small businesses and people slept on them and it slowly scaled i think today at blasting is worth 100 billion dollars i think zapier is gonna be similar wade foster the founder of zapier spoke at hustlecon and i hung out with him and he was like everything i he was just like perfect he was wonderful there is one downside i’ve heard through friends of friends that they don’t they so their pay is they they’re a remote team they’ve been remote from day one they don’t they pay against chicago market salaries so they don’t pay san francisco salaries so that might be a downside but i would love to own zapier stock yeah okay so so what you’re saying is it’s a 5 billion company and kind of amazingly this was it was at 1.3 million in funding to get to that 5 billion in value is that right yeah they basically only raised one million dollars in funding and they got that to 60 million arr they’re probably north of 100 million arr they’re probably worth their rest valued at five they’re probably worth 10 at this point i mean it’s like a crazy valuable company that’s insane they’re growing crazy you would need them to become a 25 to 50 billion dollar company and you’re betting that they can and will do that yeah over the course of four or five years when all your stock would vest yes i think that okay all right sounds good okay so uh do you agree or disagree uh they’ve surprised me every step of the way so far so you know when you first it’s like zapier i’d be like oh cool indie hacker project and then it’s like no no it actually got to like a million dollars aor it’s like oh you know that’s cool cool bootstrap software company maybe you can sell for 25 30 million oh wow they’re doing 50 million in aor okay uh jeez what how many times again am i gonna be wrong here so i’m just debating do i really want to bet against them again and i think the answer is no i don’t want to bet against them again so i think i’m gonna give you thumbs up on your on your on your one here i would include it in sarah’s list flexport would you have given it the thumbs up or thumbs down to be included on sarah’s list can it be worth 50 yeah definitely okay good so keep in mind we’re keep in mind we’re talking about like five years from today yeah five years exactly yeah so okay so we have two two successful nominations to sarah’s list i’d like to give you my next domination you’re gonna hate this one or roll your eyes or something okay uniswap do you know what uniswap is no oh my god that’s insane to me okay so uniswap uh if you go to like i don’t know because uniswap.org is how you get to to the thing so you you know swap what if i told you let’s just play this game there is a company in the cryptocurrency space and i have an opportunity for you to join here’s here’s some of the things you need to know about this it is um it’s bigger than deutsche bank credit suisse and state street um all combined it has um bigger in terms of what current market cap and yeah in terms of current market okay let me tell you some other things about it oh is that just market cap is that just one of those crazy crypto market cap things hold on let me just tell you a little bit more what if i told you it has the trading volume of coinbase with 50 times less employees would that be something you’re interested in yes what if i told you that this company is doing 10 billion a week in trading volume and what if i told you it was doing that with less than 35 employees what if i told you that it took coinbase eight years and a thousand employees to get to a billion dollars in revenue and tells you that uniswap is only two and a half years old has less than 50 employees and is on pace to do over a billion dollars in revenue this year would that be something you’re interested in because that’s unit swap right now in so what do they do so what do they do okay so let’s say you’ve heard of all the different like tokens that exist so let’s say have you ever heard of um you know dye or ethereum or whatever like yeah all these different tokens right there’s thousands of thousands of different currencies so coinbase what they’re really good at is to say you have us dollars you want to go buy some bitcoin or ethereum you want to go buy some you know some some solana great um we’ll take your u.s dollars we’ll connect with your bank and you can buy this crypto asset what uniswap does it says thanks coinbase we’ll take it from here you’re kind of slow and expensive uh and you have you know you have all these employees and all this red tape and stuff like that from here once you have a crypto token this is uniswap is how you trade any crypto token for any other crypto token so lets you swap between any crypto asset instantaneously and it’s what’s called a decentralized exchange means um there is no central company with a bunch of employees that owns the exchange it’s a protocol that they built um and all it does if you go to the website it just says what currency do you have what currency do you want here’s the the exchange rate push go and it’ll exchange it for you right there and what they did was the genius of it normally for a centralized exchange like coinbase they have to have a you know sort of they’re the market maker they they they find buyers and sellers and they match them together and they have to have you know certain amount of reserves themselves to be able to facilitate to bring liquidity into the market what what decentralized exchanges do what dexes do that’s that’s what they’re called is you have a buyer you have a seller and then you have this group in the middle that i can also come in and be a liquidity provider so i can just go give uniswap some money and i can earn a portion of the revenue that they have that they make just by providing liquidity into the pool oh cool so they have it’s like a three-sided market and so they have like um over 5 billion of liquidity that users just locked up into their market to create the liquidity for their markets yeah it’s like a it’s like a it’s like a weird lending club type of type of thing that’s pretty sick only 30 people what type of person would be a good tool wow what type of personality would be good to work there uh i don’t know crazy nut i don’t know but you know these types of things that it’s like you typically these are gonna be engineering heavy like things and so you can come and be you know do all the other stuff so let’s say you’re a community person you’re a marketing person you’re a pr person you’re whatever you can go and sort of say look i have this skill set that you probably need but when you’re at 35 people and this much scale they kind of need everything they need more of everything probably and so i think anybody could probably fit in you just think they uh how to solve some of their problems do you think they give equity yeah so basically there’s a company so there’s a company and then there’s the the protocol the company owns some of the tokens using the protocol but um like so so the company raised a series a from andreessen horowitz and paradigm and a bunch of others they raised only a series a so i think they’ve only raised 11 million dollars to date and they’ve reached basically the same scale as coinbase on 11 million dollars and coinbase is what a 80 billion dollar company so um so so i think you know this would be a very very very valuable group to be a part of now the economics are different because it’s crypto and everything’s weird it’s like what’s the valuation what’s my equity worth i don’t know it’s all it’s all funky you got to figure it out yourself but there’s definitely enough value there so going super fast it’s kind of for a person who’s i imagine the personality type is like someone who’s okay with a little bit a lot of chaos and some risk yeah and like uh not non-traditional you’re okay with something that’s non-traditional all right i’m gonna give you another non-traditional one this this this might be one of my stronger ones so it’s called uh andrew i think that’s how you say do you know what that is i had it on my list all right you stole it right off me wait did you really did you really i didn’t see it on yours yes no it’s not written up on here oh sorry i didn’t put my i have my own little cheat sheet here that you don’t have all right great so mine’s called andrew so um i’ll uh i’ll tell you a little bit background but you actually might know a little bit more so basically it started by the guy named palmer lucky and the reason why this is interesting is palmer lucky started oculus when he was like 16 or 17 and then he sold it to facebook for some what like a billion dollars just like a ton and it’s interesting because palmer lucky is very controversial so he’s a uh a big uh supporter of donald trump which is very atypical in silicon valley he was fired from facebook and a lot of people or he was the one who said he thinks he was fired because he liked trump and he sued facebook for hundreds of million and one so regardless if you think that’s cool or not he is controversial amongst silicon valley folks and so he started this company out of orange county and they here’s another controversial thing they make stuff for the government their first product was an invisible wall basically so it was a way to build drones i believe to keep uh illegal immigrants from crossing the mexican-american border so controversial whatever we can we definitely can agree to that they’ve raised money and it’s worth about 4.6 billion dollars they have 510 employees this would not be good for a liberal person or someone who like you basically have to be moderate or right of center to want to work here uh palmer seems like a like a fine enough guy a little quirky but definitely it’s a right-leaning company um which isn’t incredibly normal in silicon valley i definitely think this could be a palantir s company the way that i describe what they do if i’m correct is basically if you ever see the movie war dogs people or the government says we need blank and then people bid and they wait to get it and then the person they go we need some type of vehicle that can fly like a plane but land like a helicopter and then people go out and build it well what andrew does i believe is they build stuff that they think the government needs and then the government buys it from them and it saves a bunch of time is that basically what they do yeah so they uh yeah exactly their their primary revenue source comes from the government and what they build is like pretty fancy hardware software combinations so they’re like one of their if you go to their websites like sentry tower it’s like this solar-powered tower it’s like this giant pole that is you know used to like you know basically monitor a border right monitor an area and uh and it’s autonomous and so there’s basically like the hardware to be able to do that so like top flight hardware mixed with software that makes it like you know smart intelligent work well you know it’s like a nest camera for the government and so you know they have uh drones they have different different things like that it’s not a huge product line because these things are hard they probably take tens of millions of dollars to make each one but they um they’re basically trying to be the kind of like the most technology forward provider for you know the us defense budget which i think is like you know hundreds of billions of dollars i think is what you have here like 700 billion dollars a year and the question is can so they’re currently worth a little bit over 4 billion they raise money from founders fund i think can this company be worth 20 40 50 billion in five years 100 it definitely can um it definitely can this guy already built a billion dollar company at the age of like 22 definitely all right your turn okay that’s a good one i had that one on my list so so i like that one a lot all right sarah’s list filling up we got uh thumbs up there okay i’m gonna do one um i’m gonna do one that i invested in actually okay so disclaimer it’s not even really a disclaimer or disclosure this is actually a flex yes i’m an investor okay so this company is called replit you ever seen replit do you know what this does only because you have been telling me for years it’s going to be the greatest so um so i’ll tell you how i found them or how i kind of heard about them so i heard about them from two different places anytime these two people talk about something you’re like oh wait that’s like a winning combination so the first is like my teenage nephew is like using this tool replit to learn how to code i’m like oh okay i’ve never heard it before kind of like that’s interesting uh stuff teenagers use you should probably like pay attention to stuff teenagers use because those tend to be big companies you know whether it’s snapchat or you know minecraft or roblox or things like that and i was like all right so so yeah i stashed it away didn’t really pay too much attention to it second time i heard about it was from paul graham the founder of y combinator he tweeted a combination a graph of a hockey stick he goes uh he said something you know like one of the fastest girl you know this is one of the fastest growing companies i’ve ever seen he goes he’s like this is yes that’s over 5 million users and that may not sound like a lot but when your users are all programmers 5 million is a hell of a lot and um and that’s so true like five million programmers on a network is like worth its weight in gold every programmer ever yeah so and so then uh so i can’t hear too much about it but basically companies value just under a billion dollars right now so if you’re looking at this you’re like okay can i does this end up at five billion or more what what’s it do though what’s it do so what does it do okay you want to learn how to code it’s kind of like a sandbox that does a few important things the first is if you’ve ever tried have you ever like gone down pathway like dude i’m gonna learn how to code i’m gonna i bought this udemy course i’m gonna learn python have you ever like gone down that path at all because one of the most confusing things that happens is you’re like oh [ ] where do i type this you don’t write your code in a google doc right like you’ve got to type your code in a code editor and like then it’s like oh great but you need to install these like python packages you’re like what the hell’s that it’s like you need to like install npm or like what the hell is npm and then you’re like it’s like oh you need to deploy so now you need servers you’re like server what do i get in one of those and so it’s all just very confused just the environment which is basically like the equipment you need to code setting up that developer environment in itself is like for me was very confusing now i’m like you know average person so like if an average person finds it confusing that means it’s too confusing and so what replied did was first they were like dude look it’s just a website you go to it’s already got all that stuff baked in you don’t have to install anything you don’t need five different programs just to be able to deploy code like you write the code here then you push run you test it here and then you push deploy and you deploy it here great all built into one so that was really useful for young hackers young engineers and hobbyists who wanted to like learn this stuff so the first thing was they made all the stuff you need to learn it then they were like okay cool but this is kind of like a social network because we got all these programmers all writing code it’s kind of like if you’ve ever looked at github github is this big network it’s probably the biggest network of developers and they all put their code here well what github did was like you could fork something so you put some code you make it publicly available i can read it and then i could fork it make my own version of it and you’ll get notified that hey sean remixed your thing so riplet does that like on steroids so they basically it’s almost like a game it’s like all the different programmers can see what all the other programmers are doing they can get inspired by those they can literally take their code and remix it make their own version of it or they can like contribute to each other and they could take little parts that somebody made somebody made this bouncing ball cool i’m gonna grab that i’ll i don’t have to remake it from scratch i’ll just use their bouncing ball program you know code and i’ll add that to my basketball hoop thing that i’m making and so it’s like a multi-player little like game almost for programmers to be able to like not just not just write their code not just deploy their code but also you know like find other pieces of code that they can interact with and monetize it so you can actually launch full apps full programs on here and make money um it’s like all built in so the bet here if you look at their graphs it’s like everything is a hockey stick like crazy crazy upwards curve all right i’m on board with that scale so so i think that’s they do this side by side comparison like here’s our growth compared to github’s growth from your zero you’re one year two year three or four and they’re like outpacing github’s growth all right i’m on board with that i think that’s a good one um whatever the roles will end up being um yeah for sure and in fact usually those companies technical companies get built kind of like engineer first and so they actually need people that are non-technical to to be able to join all right that’s a good one um i’m on board i’m on board with that one um all right my turn uh this one is similar to zapier air table so air table is a is a microsoft excel alternative it’s a google sheet alternative when they first came out i was like why on earth why on earth would anyone need this like google sheets works great and then i used air table and they i realized they’re kind of making it their own category it’s very sticky it’s very neat right now they’re valued uh since 2021 they raised money at a 5.7 billion dollar valuation i actually think they could be much larger there’s another company that i kind of compare them to they’re not quite the same but they’re i think they’re a little bit stamp same in terms of stickiness and that’s and they came out the same time uh or they got popular around the same time that’s monday.com and they’re worth they went public at like 18 billion i think that airtable could definitely do really great they currently have 645 employees um they the guy who started it i think his name is howard liu howie lou and he’s kind of like this prodigy genius guy like that’s like how they stereotype him in the media but i’ve seen interviews went to my tour he went to duke did he yeah i saw interviews with him though he was definitely like a prodigy young genius but he was very like wise and like he wasn’t like a wacky weirdo he was like pretty well thought uh well spoken and you want to know something funny yeah so seven years ago so we were in a mastermind group if you remember me you and a couple other guys we used to get dinner every month or two or something like that talk startups and we would occasionally invite other people in and so i have a dm where i dm’d howie back when air table was very you know it was was a lot smaller i think it was still probably i think it had just raised money maybe under 100 million dollars i think was the valuation at that point in time and i was like howie you love airtable think it’s [ ] great i think it’s going to be big um you know you’re a fellow duke guy that’s awesome hey i host these mastermind dinners you should come to one and he’s like oh i’d love to and we scheduled it and uh you were scheduled to go to it and then i think you and one other person cancelled and like oh i can’t come and so i canceled the dinner and so i never met him and like you know [ ] who knows what could have been we could have been homies by now we could have been invested yeah a long time ago uh you know under 100 million dollars did you hang out with them no that was the that was the excuse i had been i was like i do these as excuses to hang out with people right i don’t want to say hey i’d love to meet you it’s like yeah great i don’t love to meet you i don’t want to ask him to coffee but i was trying to invite him to something cool he’s like hey we do this founder thing it’s great my bad howie i’m sorry dude um all right so i have one a yeah yeah uh yay because excel is like the there’s this great quote which is like every sas company you actually compete with excel you don’t compete with other sas companies you compete with excel because people just use excel for everything and um and so yeah i think that like i don’t i don’t know what excel’s market cap would be but i think excel is more i don’t know what it would be dude excel is like airpods to apple like yeah airpods would be a 100 billion dollar company on its own that’s what excel is exactly so if excel is a 100 billion dollar company i think that the the best threat to excel is going to end up being worth you know 20 30 pretty i think there’s a pretty good chance of that and so i like this a lot more it was recently at one or two billion i liked it a lot more there than at 5.7 but like you know we didn’t do the episode then we did it now um so okay so i’ll give you one that’s very very similar real quick figma so figmas too instead of you know and i’ll do it quick because people already know figma but i would put it on the list uh you know the way irritable airtable airtable’s doing for excel figma’s doing for photoshop so it’s the younger slicker cloud-based uh sexier version of design software and it’s kind of eating photoshop’s lunch i don’t know worth now what is it seven billion now it’s like no it’s uh so in july of 2021 they raised 200 million dollars at a 10 billion dollar vote uh valuation but here’s that sounds like a lot but to the listeners and you sean how much is uh what’s adobe’s market cap so adobe uh i believe almost all their revenue at this point is from photoshop right well it’s the creative cloud which is basically a bundle that you’re like i want photoshop to like but buy fireworks and uh you know like buy all this other [ ] that we like bundle in with creative cloud okay so tell me what you think it is i would have guessed um adobe’s market cap is i don’t know 150 billion or something like that what what is it uh it is 315. and if i’m not mistaken that might be one of the uh let’s look it up it might be one of the 50th let’s see adobe would be would is it’s one of the biggest companies in the world so adobe is the 30th largest company in the world so when you think about how big this can be you think 10 billion dollars that’s so much money well adobe’s the one of the biggest companies in the world a figma’s going after it totally should be on this list it’s like it’s like all the business trends like first unbundling it’s like well creative cloud brings in 12 billion a year well let’s unbundle the most valuable part of it photoshop and let’s do it differently okay what’s different second trend cloud-based right uh third trend multiplayer right like when i’m using figma my mouse is moving around your mouse i’ll also see what you’re doing on the same canvas that’s really cool right um and so they they’re they’re piggybacking off all these like kind of macro shifts and doing it right just just sort of like by the way if you think oh it’s already at 10 billion is it really going to 5x last five years adobe has 6xed so adobe was trading at 100 a share it’s now at 660 a share in five years and that’s at adobe’s large thing you know that’s their growth rate figma’s growth rate should be in the next five years much faster than adobe’s was in the last five and um and so i think there’s a fairly good chance of that in fact i should just go invest in all these companies uh that are on this list this is this is a great great list to be on all right my turn uh so i agree i had to think about mine so i completely agree so we’re about 100 so uh rippling that’s my next one rippling very boring company i used it it’s a payroll software provider but it also manages devices and gives you permissions to different stuff so basically um if if you’re a small startup and people sign up to your to work at your company it you i can easily track which person has which computer and i could pay software through there and i can do hr management and issue health care stuff to people why it’s interesting the founder his name’s what’s his name parker conrad so he has the controversial pass he started zenefs which was at the time of the fastest growing companies ever he got fired because he kind of the culture was kind of crazy people were like having sex in the hallways and kind of being bro and [ ] like that and so he was like oh you know in order to do this hr thing you have to like have this like compliance training it takes 60 hours well cool here i just i created a macro that will go through the training for you just push the enter key every you know five minutes or something like that and you’ll be done in six hours instead of 60. like [ ] like that that was a little bit like oh that’s actually like slightly illegal i think yeah but the good news is he has experience the also good news is that he [ ] up and so you would think that you’d learn because he got ousted so i kind of like that i always like that in a company where someone is like it’s their second time around and they’ve already been mildly successful i think that’s actually a good thing they were here’s why i think this company’s interesting so they were last valued at 1 billion 1.3 billion dollars and i use them and they’re amazing i’ve used them for years every company problem every company on boards new employees and needs to get their computer set up needs to get them connected to all the systems it’s at every purse every company problem and uh that’s why it’s kind of genius and there uh so workday which is in the space is worth 67 billion dollars paychecks which is a uh just a payroll provider it’s worth 40 billion dollars i don’t think that this their valuation is still true their own category which is why it’s even better like if you said does rippling end up i think rippling if it’s at a billion now i think it’s maybe one of the best candidates uh to like 50x on this list right it’s one of those that like you know when square went public square republic at like i think three billion or two billion valuations else like 150. now it’s like 100 so square after it ipoded which was again d-risk d-risk d-risk now it’s liquid it’s already had like a 30-40 x since then um and so that’s like wow that’s you get some insane appreciation on your on your stock and so i think rippling is one that if you told me this 30 to 50 x’s i’d say of the things we’ve said on this list that might be the number one candidate so far all right so then uh we’re we’re we’ve got a hit and when i use the product it did everything well but it was still pretty clunky so i think a lot of your product designer if your customer support sales i think these guys are hiring for a bunch of different stuff so that’s my pick all right your turn okay uh i’m gonna do one that’s a little by the way i think these are hits i think yeah i think so too um all right so so here’s one open store you know what openstore is uh it’s new isn’t it it’s new okay so uh this might not this might not this might well no this might hit but this might be too early but go ahead yeah so okay so what is this um so first let me say who’s the founder so the founder is is two kind of powerhouses now i don’t know how much of their time they’re spending on this but one is keith or boy who was the ceo at square he was part of the paypal mafia he’s a big-time vc he’s a total dick on twitter entertaining dude i i enjoy he’s very smart and he’s an [ ] on twitter uh which i find to be hilarious and then this other guy um jack abraham jack abraham was kind of like wonder kid built a company sold it to ebay pretty early on uh was like kind of a hot shot at paypal spun out and he has his own like studio and so they together came together and they made um they made open store which is a riff off of keith or boy’s other pre last company that’s now worth five billion dollars open door so what open door did was you want to sell your house don’t go through the whole like dog and pony show i will buy your house now you don’t have to stage it you don’t have to fix it up you don’t have to hire an agent you don’t have to do anything just sell me the home i’ll just give you a price right now and you can sell it today so i give you liquidity in this house market instantaneous sales open store is the same thing for e-commerce they’re saying you want to sell your e-commerce company i’ll buy your shopify store right now you don’t have to go through the whole banker process make a dag do do all this stuff i’ll just plug into your data and i’ll just give you an offer right now and so what they’re trying to do is roll up shopify stores and so they’re they raised i think their first round maybe was was at a 250 million dollar valuation so to get your 5x here you have to bet that it becomes a billion dollar company with this guy’s track record square open door with jack abraham’s track record it’s a very good shot that they sent up being being worth more more than a billion dollars this space is very hot so do you know thracio that we’ve talked about before it’s the one that thoracio was was was the first hot company that was rolling up amazon businesses businesses that sell products only on amazon they’re called fba fulfilled by amazon companies and uh they rolled them all up do you know what thoracio’s valued at right now what it’s like 510. they’re gonna go public at a 10 billion dollar valuation i think they might be the fastest company to a 10 billion dollar exit um ever i think i think they’re like they’re three years old they’re four years old three years old and you know very capital efficient how they went there because they used a lot of debt to buy these companies because the company’s already are profitable or producing a lot of revenue so they’re able to use big debt to do this and so open store is doing the same thing without the amazon style it’s for shopify and so i think that this model this open store model is one of the fastest easiest and fastest ways to build a billion dollar company and i think that this company at 250 million i see a lot of value in this pick here yes it could go to zero this could also not work this has higher risk than the other stuff on this of this list so that’s the that’s the disclaimer it’s much higher risk but i think the reward is a lot higher here too okay so this i agree this could 10x this borderline wouldn’t be considered part of the list because no it’s because they just launched they’re they’re it’s a year or less right it’s july 15 2021. so this wouldn’t fit in the category of being like a cushy gig but i i i i’m cool with adding it but yeah i think i think it might be on the like hey you’re on you’re you’re in the the batter’s box you’re not on the batter’s box you’re in the on deck circle right we’re just waiting for you to mature you got to season up a little bit in order to be on this list given the criteria of the list also but we could swap it so keith boy has another company that’s incredibly interesting i believe it’s called fair f-a-i-r-e-i he’s just an investor in that one yeah i didn’t add it to the list but it’s a wholesale marketplace for retailers and brands so you could just basically uh it’s almost like it’s a database but i used it recently for my brand i was like oh yeah we should sell wholesale too i was like okay so what am i gonna do go contact every brick and mortar store and say hey would you like to carry my brand my online brand and your store it’s a good brand here’s the details here’s my catalog i made it in in excel and i have to update it weekly and then here’s my pricing and then here i just go to my shopify store and just buy some stuff like it’s like you have to string together five tools to set up wholesale fare is basically like you want wholesale list yourself as a company the brick and mortar stores can all like just choose to to buy from you your catalog is stored here it just takes for that whole problem i think it’s like a 15 billion dollar company yeah i don’t know if that can 10x but it’s doing really well and i didn’t do research on it for this pr project but i’ve uh i tell people if they want to look whenever people ask me this question of where they should join i say that company sounds incredibly interesting um all right we’ll do maybe one last one yeah one last time on yourself all right i’m gonna do one that i also i’m an investor in this one so i’m there’s a disclosure it’s called next health and the reason why i think it’s cool it’s basically the very simple dumbed-down version it’s almost like shopify for doctors so basically when you go to a doctor you have to fill out a form and they’ve automated the form so you just fill it out online but then if every other doctor uses the same uses next health all your information is on that platform and so it’s much easier so you have basically one medical record and also they’ve opened it up to third-party developers who can build apps using your health data and your like uh your whole health record and you can see uh interesting stuff an example a very tiny example is if you’re on smile direct club and you want to find out where an orthodontist is nearby who could fit you for your orthodontist they say hey next here’s all the doctors in next health that are in that network just click here you’re good to go and that’s like a third party app that whatever they are worth 500 million dollars their ceo is young 26 27 i’ve gotten dinner with him he basically has told me and i don’t exactly remember how he said it but he was like yeah i kind of want to take over the world like he he was like i i’ve i thought yeah he was like yeah he was like well i think he’s i think he told me his his parents are from bangladesh and i think he goes you know bangladesh is an interesting country because it has a really large male population and it has a low unemployment rate so if i wanted to take over the world i think i could go there and rally the young men and we could build our own army and i think that’d be a good place like like he had this like well thought out and i was like you’re nuts i love you i’m id so next health is interesting to me and they’ve raised uh 150 million dollars i think and so it’s big enough that they uh maybe they’ve only raised 50 million dollars it’s big enough that it’s a little bit uh settled and they can pay well right all right you want to bring it home you bring it home with one one one that one that’s a little bit unorthodox i think we said a lot of popular names uh here’s an unpopular name one trust so one trust is a company that specializes in making your company gdpr compliant and oh my god the most boring [ ] on earth valued at five billion dollars um you know you have to you have to sort of endlessly keep up with privacy laws uh are different in all these different countries if gdpr for europe us is going to have their own version of this other country’s gonna have their own version of this and they’re always gonna evolve and um and they have the customers and they’re going to basically continue to service these customers and for the companies you have huge huge risk because it’s like if you’re not compliant on gdpr it’s like fines that are like you know multiplied per user or something like that it’s like your fines can be exorbitant and nobody wants to deal with this nobody wants to become an expert of this nobody wants to throw huge amounts of engineering and design and and policy uh head count towards doing this it’s going to be much easier to like buy a solution and pay for pay for somebody else as your cover your ass insurance to take care of your gdpr needs i think it’s one of the fastest growing companies in the country right now it’s called one trust i think they’re based in atlanta if i’m right um i might be mixing them up with another one there’s actually two companies that are both billion dollar companies in this space i love these companies i want to invest in these companies and if i you know was going to send send somebody to go work at one of the work at a company that has this profile this would be one of them so i think it’s a good contender for sarah’s list all right i think um i think that’s the list that’s i i think i think this is this to do a listener applying to jobs this could be one of the most life-changing episodes uh this is good i think this is a really interesting idea when we when i i used to have this product called just jobs where i would write companies that do this and i would pay users to people would pay to have access to it this is going to become maybe a recurring segment we’ll see this is pretty interesting well i told you the thing i wanted to do with this was i’m going to curate 50 companies that meet this criteria and i’m going to basically create a job board from this and the the thing with the job board is you can’t just be a company who wants to come list on here no only these 50 companies that are curated can post on this job board uh they have to pay to do it but but but if they don’t pay they’re just on the list but no jobs will show up and so i want to have a running job so we take this segment idea uh but basically the reason i had a bunch of these companies listed is because me and ben have been cooking up oh we should launch a job board and when we launch a job board what would add some value well if i could curate companies that i think people should work for this is not an original idea i think you did something like this there’s just a bunch of people have done things like this curated companies that you think are cool and you turn that into a product and so we’re gonna do that with a job board pretty soon uh we’ll launch that pretty soon with pallet sick well that’s freaking awesome good episode all right man i gotta run [Music] 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