How a $25 Million a Year Sweepstakes Business Works | My First Million #193

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - Shaan (@ShaanVP) and Sam (@TheSamParr) go in-depth on how the Sweepstakes industry works, and Sam shares how they would use sweepstakes to grow the Hustle. The guys also discuss a business-friendly take on deep fakes, a no-chicken chicken nugget, and how options contacts could work for startup founders. They end the episode with a long segment where Shaan predicts what the next version of today's big companies will look like. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth 💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch --------- Show notes: *(0:00) Intro * (1:20) Recap of episode * (6:36) Brick and mortar businesses * (10:45) Losing millions with shipping delays * (14:26) Oasis - a positive spin on deep fakes * (23:23) Multi-million dollar sweepstakes businesses * (36:39) How the Hustle thought about user acquisition * (41:12) The chicken-free chicken nugget * (44:09) Options contracts for startups * (50:16) The Future: Shaan gazes into a crystal ball * (51:13) The Future: Apple * (51:56) The Future: Facebook * (53:23) The Future: Amazon * (54:31) The Future: 7/11 * (55:28) The Future: Netflix * (56:55) The Future: Pornhub * (57:53) The Future: Domino's * (59:30) Episode close