AI Summary
5 min readThe hosts of My First Million open with a story that sounds like a joke but isn’t: a South Korean app called Food Never Comes. You open it, browse a menu, add fried chicken and cheese balls to your cart, choose “rabbit” or “turtle” delivery speed, enter your address, and then watch the delivery driver’s icon make its way toward your house — where it never arrives. You don’t get food. You don’t pay money. You just get the browsing, the cart-filling, the anticipation. The app is part of a trend called “dopamine websites,” popular among Korean Gen Z, that give people the familiar dopamine hit of shopping, smoking, or tracking a package without actually doing any of those things. The hosts are baffled and amused, but the example opens a wider conversation about how business models work, how value is created, and what most entrepreneurs get wrong.
The Honda Strategy: Start Shitty, Get Better, Keep Prices Low
Continue reading the full summary in the app — free to try.
Read Full Summary →Free • No credit card required
Never miss an episode of My First Million
Get every new episode summarized in your inbox — free, ~5 minutes to read.
No spam. Unsubscribe anytime.
What you'll learn
- 1 (00:00) **Dopamine Websites: The New Korean Trend** - The hosts introduce the concept of "dopamine websites" from South Korea that simulate shopping, food delivery, and smoke breaks without any real transaction or consumption.
- 2 (03:23) **Are These Apps Actually Popular?** - The hosts question the scale of the trend and discuss the difficulty of verifying trends in separate internet cultures like Korea and Japan.
- 3 (07:32) **Short-Form Drama: The Next Big Export** - The hosts identify short-form vertical dramas (30-60 second episodes) as the next trend likely to move from Asia to the US.
- 4 (08:03) **Kevin Ryan's "Start Shitty, Get Better" Strategy** - A framework from Business Insider co-founder Kevin Ryan: start with low quality, get traffic, and improve over time, like Honda vs. GM.
- 5 (13:20) **Nick Sleep's "Shared Scale Economies" Investing Framework** - The hosts dive into the investment philosophy of Nick Sleep, who focused on companies that pass savings to customers (consumer surplus).
- 6 (23:15) **The Power of One or Two "Secrets"** - The hosts reflect on how understanding a single powerful framework (like network effects or shared scale economies) can lead to massive wealth.
- 7 (25:12) **Lloyd Blankfein: The Blue-Collar Billionaire** - A profile of the former Goldman Sachs CEO, his humble Brooklyn upbringing, and his self-deprecating, relatable personality.
+ Full timestamped outline available in the app
Show Notes
*20+ hours of investing wisdom:* https://clickhubspot.com/cbah
Episode 836: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk about people who have turned their lifestyles into millions, plus Nick Sleep’s investing genius.
—
Show Notes:
(0:00) fringe creators
(13:14) Nick Sleep's shared economies of scale
(24:41) lloyd blanfein's personal finances
(31:14) David Rubenstein, the man
(39:09) Nat Turner's crazy new business
(50:13) a brief masterclass in valuing denim
—
Check Out Sam's Stuff:
• Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm
—
Check Out Shaan's Stuff:
• Shaan's weekly email - https://www.shaanpuri.com
• Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents.
• Mercury - Shaan uses Mercury for banking across all of his companies. you can too: http://mercury.com/
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC
• I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out:
beehiiv.com/mfm-challenge
My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /
More from this podcast
My First Million →