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 yeah i’m gonna it’s like i’m asking you stock tips i’m on big cloud uh i’m on the site now what uh and i could see this i mean i could just go and find it but what what creators do you own and what what uh which one are you gonna be making any purchases anytime soon what do you like yeah definitely i own active creators so if a creator is active and like posting and like doing fun stuff or interesting stuff i buy them um but really the thing that i uh you know like the hedge fund side of me really likes is nft artists because for nft artists uh even today not theoretical um all of them set royalties that go to their coins um and so there’s real cash flows there that are often like totally disparate like you know like their coins are not like correctly priced for like how much money is gonna actually flow to their coins um and so i’ve been yeah i bought like spookies and um uh clout punk you know early illuminati is like another one um and those like just the cash flows are like above what it was when i like you know those have made up for what it was when i invested in it so uh so that’s kind of like i think that’s a strategy that like just traditional like i do like i get it um and then as we create more cash flows going to the coins there’ll be even more um but aside from that because i know that you know creators who could get big are going to have ways that cash flows go to the coins the smaller creators who i think are active and are like gonna do cool [ __ ] anyone in particular you know that’s who you enjoy that’s like the other one um oh there are a bunch um well so darmesh has been crushing it he’s not a smaller creator uh but he’s just been super active he’s doing a lot of stuff yeah yeah yeah he’s he’s very big on the platform um i’m trying to see like there’s like matreshka who’s a woman who’s very active there and does a lot of stuff tidgeon is this developer who does a lot of awesome stuff um yeah it’s a dta you want to know my strategy that that worked on big cloud at least early on this worked pretty well i i i was thinking about okay who do i buy do i buy the famous people that are not on yet there’s people building scrapers to try to figure out someone’s thinking about it or they tweeted it out and it hasn’t gotten verified yet so go front run that i figured out there’s a very simple way to win and i said right now with any early project i’ve built a bunch of social networks and i know anytime you build a social network at first seventy percent of the conversation on that social network is about the social network this happened with the stuff i built it happens if you go to clubhouse eighty percent of the rooms are just end up they will end up talking about how great clubhouse is or what it’s gonna be or what’s bad about it they’re just always talking about the platform itself so i knew okay if people are going to be interested in the platform itself i invested in all of the analysts who could who could go through the on-chain data and report how what prices were working you know how many how many new users there were and all that good stuff and so i bought all the analysts dirt cheap and they went up like crazy because again they were talking about the platform in a way that was differentiated because the normal person didn’t know how to go analyze the blockchain and then the other one was basically rich active people so i thought darmesh was just going to buy his own coin and whale shark was just going to buy his own coin craig clemens was going to buy his own coin and so it’s like a company that does a share buyback it’s like oh okay this person has the they have enough funds where they could like dramatically move their own coin price so all i got to do is just buy them and wait for them to do their buybacks and sure enough they did and darmas even said it publicly it’s like i’m going to buy for every follower i get i’m going to buy back my every coin holder i get i’m going to buy back 10x of my own coin or something crazy like that and i was like well that’s a ponzi scheme that i love that’s perfect great uh like i’ll just hitch onto that ride this guy’s guaranteeing and i know he’s a man of his word he’s gonna buy he’s gonna buy back his own stuff and i could just front run that so that worked amazingly at the beginning i don’t know if that would still work i think the strategy of forecasting what content is going to be popular and then investing in the people who are producing it i mean that’s like that’s like the name of the game i think um so i think that’s pretty awesome there was a guy who would do uh fake designs like mock-ups like oh this is what the client could look like yeah oh if they added in if it’s how it could look it’s just like kind of like design porn yeah design porn i was like oh that’s gonna work people are again it’s talking about the platform and in a differentiated way because this guy’s a designer and he’s going to just design mockups all the time this is going to go viral great yeah buy this no that’s genius honestly um yeah and it’ll be interesting to see how it works at scale um especially because diamond app is like so mainstream and i think can actually get like some bigger people to like join and start using it um yeah i honestly i wonder how it’s gonna play out um by the way another fun thing we didn’t talk about is there’s actually an algorithmic feed that’s like open source now built into the blockchain so that would probably play into your strategy where you can look at how the feed works and then try and figure out what what’s gonna get to the top it’s pretty hard to game i think but uh but that’s that’s another like interesting have you talked [Music] you