How Vending Machines are Generating Millions & The Next Big Social App | My First Million #187

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - There are entrepreneurs quietly generating six figures working part-time in the vending machine business. Others have been able to scale to multi-million and even multi-billion-dollar figures in the industry. Shaan (@ShaanVP) and Sam (@TheSamParr) break down the vending machine industry with tons of numbers and exactly how some are pulling it off. The guys transition from a "boring" business to high-tech ones as they break down how Vimeo went from a College Humor project to competing with YouTube and earning an $8b valuation. They also talk about a trendy new pod that generated 500k downloads on its first day and they brainstorm on a fun concept: ghost kitchens for gifts. — 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 Links: 📧: Sign up for The Hustle Daily Newsletter: https://link.chtbl.com/kyfH9bUy 🎙️: Download Our Podcast: https://link.chtbl.com/ChY97aK9 A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us. --------- * 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. --------- Show notes: * (0:00) Intro * (4:55) How Vimeo became an $8b company * (13:25) The next big social app? * (23:05) The millions to be made in vending machines * (39:13) Ghost kitchens for gifts * (50:30) Post-podcast free talk