We react to Bill Ackman's advice to young men
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
In this episode of My First Million, (00:00) Sam Parr and Shaan Puri dive into billionaire investor Bill Ackman's unconventional dating advice for young men - the simple phrase "May I meet you?" (00:32) The hosts explore how this formal approach reflects broader themes about taking stances and being authentic. They then examine the remarkable story of Josh, a 20-year-old college dropout who built a $300,000/month business doing street interviews for brands in parks across New York, LA, and Miami. (10:54) The conversation expands into powerful insights about taking simple ideas seriously, drawing parallels to MTV's early programming philosophy and modern content creators like The Amazing Digital Circus team who achieved 400 million views on YouTube. (25:53) The episode concludes with reflections on the art of noticing - how great entrepreneurs, comedians, and investors develop the sensitivity to see opportunities others miss, illustrated through stories about Pandora's founding struggles and Ben Horowitz's curious mind.
- Main theme: The power of taking simple ideas seriously and developing the sensitivity to notice what others ignore - whether in dating advice, business opportunities, or creative endeavors.
Speakers
Sam Parr
Sam Parr is the founder of Hampton, a membership community for entrepreneurs that generates over $10 million in revenue. He previously founded The Hustle, a business newsletter that grew to $17-18 million in revenue starting with just $300, which he later sold. Sam is known for his direct approach to entrepreneurship and his ability to spot emerging business trends.
Shaan Puri
Shaan Puri is a serial entrepreneur and angel investor who co-hosts My First Million. He's known for his creative thinking and ability to identify business opportunities in unexpected places. Shaan has been involved in multiple successful ventures and is recognized for his insights into emerging technologies and business models.
Key Takeaways
Plant Your Flag and Take a Stance
The most successful companies and individuals don't iterate endlessly - they pick a direction and commit fully to it. (21:57) Sam and Shaan discuss how MTV's early success came from Tom Preston's bold decision to hire "pot smoking guys who sat in the back of class" to create content, rather than following conventional wisdom. Similarly, companies like Calm stuck with meditation for years despite lukewarm results, eventually becoming a billion-dollar business. The key insight is that taking a clear stance, even on seemingly simple ideas, creates focus and allows you to go deeper than competitors who constantly pivot. This applies whether you're building a pirate ship newsletter empire or creating the next SpongeBob SquarePants.
White Belt Businesses Are Powerful Starting Points
Josh's $300,000/month street interview business exemplifies what Shaan calls a "white belt business" - a simple concept that anyone could execute but few will attempt. (10:54) These businesses require more boldness than skill, making them perfect first ventures for young entrepreneurs. Josh started by DMing founders on Twitter, doing free work to build credibility, then scaling to 46 employees across three cities. The beauty of white belt businesses is they get you in the game immediately, teaching real entrepreneurial skills while generating actual revenue. They're accessible to anyone willing to face rejection and put in the physical work that others avoid.
Develop the Art of Noticing
Great entrepreneurs, investors, and creators share one crucial skill: they notice what others ignore. (47:48) Ben Horowitz exemplified this when he casually mentioned wondering "why slavery ended" - a question most people would never think to ask. This sensitivity to overlooked details separates exceptional performers from average ones. Eddie Murphy described comedians as "more sensitive to everything," able to spot the tiny scratch on a new car that everyone else misses. In business, this translates to identifying mispriced opportunities, undervalued companies, or simple problems everyone assumes can't be solved. Developing this noticing muscle requires slowing down and questioning things others take for granted.
Simple Ideas Deserve Serious Treatment
Every successful person has taken a simple idea much more seriously than anyone expected. (31:17) Whether it's Dyson revolutionizing vacuum cleaners, Nick Gray mastering cocktail parties, or the SpongeBob creator combining marine biology with animation, the pattern remains consistent. The breakthrough isn't in finding a complex, untested concept - it's in approaching something straightforward with unprecedented dedication and craftsmanship. This requires fighting the urge to constantly seek the next shiny opportunity and instead committing to excellence in your chosen domain. Most people underestimate how far they can take a simple idea when they apply world-class execution to it.
Proportion Matters More Than Scale
Jerry Seinfeld's decision to turn down $110 million for one more season of his show illustrates a crucial principle: knowing when enough is enough. (54:18) He stated that "the most important word in art is proportion" - too much of anything changes the entire feeling and quality of the work. This applies beyond creative endeavors to business decisions, product development, and life choices. The temptation to always scale bigger, add more features, or chase every opportunity can actually diminish the core value of what you've built. Understanding proportion means recognizing when you've achieved the right balance and having the discipline to maintain it rather than pushing for more.
Statistics & Facts
- Josh's street interview business generates $300,000 per month in revenue with 46 employees across New York City, LA, and Miami. (12:05) This represents approximately $3.6 million in annual revenue for a business started by a 19-year-old college dropout.
- The Amazing Digital Circus pilot episode has achieved 398 million views on YouTube. (35:15) This puts it in the same category as viral hits like Despacito and Gangnam Style, demonstrating the massive reach possible for independent creators.
- Jerry Seinfeld turned down $110 million for one additional season of his show, representing one of the largest amounts of money ever declined in TV history. (54:07) This decision was based on his principle that maintaining artistic proportion was more valuable than maximum financial gain.
