My First Million #53 - Nicotine Gum, Dating Apps For The Elderly & Tax on Vested Shares
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Mar 3, 2020 The hosts dive into Bernie Sanders' proposed tax on vested shares, sparking a lively discussion on business structuring regrets. They explore digital platforms for connecting older adults, addressing the challenges of online dating in that demographic. Investments in unique markets are analyzed, including a promising venture in modern nicotine gum and the potential of turnkey bathroom renovations. Round it all off with excitement about which startups might soon hit the billion-dollar mark and a fun look at the revival of book clubs!
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The Hustle's Beginnings
- Sam Parr started The Hustle with $25,000, making $60,000 profit in six weeks and $380,000 in the first year.
- Initially, he lived frugally, paying himself $2,000 a month.
Valuation Doesn't Equal Cash
- Founders with high valuations on paper aren't always rich.
- Illiquidity is common, with many having limited cash despite their company's worth.
Investor Updates
- Send regular investor updates to maintain engagement and stay top of mind.
- Include key metrics, successes, challenges, and requests for help.
