Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
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Kind: captions Language: en last I checked it was a massively successful company and I was like how are you getting all this private company daily he’s like oh it’s just like did you know that in Australia in many of the countries in Europe if you’re a privately held company that’s above like 40 million in revenue I think you have to submit an annual report yes I didn’t know that I’ve went to the Australia’s version and the British I’ll show you this version it cost $5 per report it’s called Companies House for Britain it’s completely free I just like looked up all these cool companies and you can see how much like dividends they make right if my friend started this in in Great Britain also called due diligence this is called do deal is his company and I think it’s like a massively last I checked it was like a massively data he’s like oh it’s just like you have to make it available here so what we do is we just aggregate it present it make it searchable and I was like oh my god like you know Jesus how you know hey I wish that existed in the US and B what a simple beautiful business to do I’m looking at the amazing did you find anything interesting from these or to just want to shout them at his cool tool so what was the one I’m gonna check out the Australian when it was what house company house that’s Britain it’s free I don’t know what it was just easy to use like am i I know it’s not Companies House is easy to use the Australian one it’s not easy it was called the Australian AAS I see Australian Securities and Investment Commission I guess that’s their equivalent up the SEC right and it cost money so I looked up a research business that was similar to mine and I was curious and the founder just pays himself ten million dollars a year and it’s in there I just looked at the financials it’s pretty big it’s called them you probably know this Ibis world yeah yeah yeah it was well I didn’t realize that’s so you know idea is and these might this might exist already but you can build a layer on top of these just to make them more user-friendly searchable it’s sort of easy to use clean up the data in some way and those can be pretty pretty awesome businesses import genius is a great example of this you know publicly available customs data that they make a it’s not even that easy to use but they make an interface that makes it very sort of simple and easy to find the data that you’re looking for and so you know if there’s some entrepreneur in Australia who wants to take ASIC and make it more of a consumer facing website or maybe that exists but that would be a cool opportunity [Music]