Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
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Kind: captions Language: en and that changed the trajectory of his life where Silicon Valley starts calling them and you know and evolve flies them out to San Francisco and wants to invest in a like that so so snapchats kind of pushing their chips into the middle of the table and saying come build on us we’ll treat you better than those guys will and you kind of leave it you kind of believe it because it’s really their only way to compete with Facebook and Instagram so they kind of have to actually honor this so anyways a quick idea so in general I think that being early to these platforms and these app app ecosystems is a good thing there’s been several snap kit apps that have been like number one and number two on the App Store so they’ve gotten a ton of distribution from it what’s a snap kit app snap kit is basically the toolset that snapchat gives you to build to build stuff so it’s like okay snap kit will say you want to access their bitmoji cool snap kit lets you just type one line and you get their bitmoji character you can do stuff with snap kits their camera with all their lenses I’m doing this course with Goggin and we talk about our inflections inflections there’s a variety of styles of inflections there’s technology inflections which is like basically like oh my god the Internet is now in everyone’s house that is an inflection there’s an opportunity there or a belief inflection is like wow people really don’t trust the media what can we build help or people are afraid to be in groups of thousands of people how can we fix that what we are seeing right now is a technology inflection or a platform inflection yes and this is it this is like when so Pandora the music company Tim told me that the company was around for three years and it was doing horrible and he said they heard about the Apple Store for some reason Steve Jobs reached out to them and said you guys might be a good like place to put your here once that happened he was cool and this I don’t know if it will be but this is potentially one of those yeah these are asymmetric bets sure maybe most of the time these platforms either don’t work out or there’s nothing cool to build and you’ll waste you know a month of your time or you might catch a wave early and you might get to the top so for example the very first episode of this whole podcast chain is with Tsui and so he talks about he was working at Microsoft and he realized he wants to quit and go start a company quits he moves back home with his parents for like two weeks and the fruit and the first two weeks he’s kind of bored and the day he quit basically Facebook did their developer conference and said hey we’re making Facebook platform anyone could build an app on Facebook now so he goes home and he’s like all right I don’t know if there’s gonna be a business I don’t think so but he’s like I just need to start programming in just to get my you know get get the rust off and so he builds a Facebook app that was stupid it was like a superlatives app like which of your friends is most likely to end up in jail or whatever boom goes viral you know he ends up with tens of millions of users and that changed the trajectory of his life where Silicon Valley starts calling him and you know Duvall flies him out to San Francisco and wants to invest in a suit like that so he took a bet on the sort of day the platform launched if I’m a board developer today or I’m somebody who’s got you know the ability to code and you know a weekend I would be building something on top of snap kit the thing I would build is actually so I think what’s hard is when you want to build something that gets the user to leave snapchat and come to your app so you kind of have to build something that can actually do the whole experience should just be on snapchat and it should not compete with what snapchat does so here’s the idea okay yes I call it cameo kick so basically I think you could build the app cameo on top of snapchat so you were basically the cameo Kate would just say cool I want to buy a snapchat from one of these celebrities and I’ll pay you right here through snapchat and then I want to send it either to myself or to my friend on my snapchat list so basically imagine I it’s your birthday coming up right when’s your birthday it’s in a few days yeah you actually bought me a cameo you had Gilbert Godfried call me a right so I did that last year but but this year I could do it through a little new invention of mine so basically I would go in snapchat I would open it up I would see a list of influencers that are that have snapchat which is like every celebrity in the world I would request a video and I pay right there and then you would receive a snapchat from either from me or from them in your inbox and the whole cameo experience could be built on top of snapchat without having to have separate websites separate apps all that stuff and you compete with cameo very quickly so I think that’s a very simple idea that could monetize on top of snap get [Music]