#179 - How the UFC Became a Multi-Billion Dollar Brand, No-loss Lotteries Explained & How to Save on Your Taxes

Explicit content warning

05/07/21 • 54 min

2 Listeners

With Endeavor's IPO, Shaan (@ShaanVP) and Sam (@TheSamParr) break down the UFC's numbers and how it got so profitable. Key to the whole thing: Dana White. He bought the UFC for $2m and turned it into a multi-billion empire. The guys also talk about the mental toughness of UFC fighters and how you can take some of these same principals and apply them to your life. They also talk about an interesting concept called no-loss lotteries and a company trying to save you taxes.

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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.

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Show notes:

(3:28) How to retain talent

(7:42) The mental toughness of UFC fighters

(15:30) The power of self-talk

(24:20) How the UFC got so profitable

(36:38) How this company will help you save taxes

(41:05) What are no-loss lotteries?

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Show links:

https://studentloanhero.com/

https://properlot.com/

https://www.poconnor.com/

https://www.fivestonetax.com/

https://pooltogether.com/

https://twitter.com/lay2000lbs

https://waitbutwhy.com/2021/04/lanby.html

https://www.thelanby.com/

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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:

(3:28) How to retain talent

(7:42) The mental toughness of UFC fighters

(15:30) The power of self-talk

(24:20) How the UFC got so profitable

(36:38) How this company will help you save taxes

(41:05) What are no-loss lotteries?

---------

Show links:

https://studentloanhero.com/

https://properlot.com/

https://www.poconnor.com/

https://www.fivestonetax.com/

https://pooltogether.com/

https://twitter.com/lay2000lbs

https://waitbutwhy.com/2021/04/lanby.html

https://www.thelanby.com/

Previous Episode

#178 with Balaji - Balaji on How to Fix the Media, Cloud Communities & Crypto

Shaan (@ShaanVP) and Sam (@TheSamParr) host Balaji (@balajis) this episode. This is an amazing dive into Balaji's mind. He talks about the current issues with the media and how he's hoping to fix it with crypto and the blockchain. We also get a look at how he views the world, what motivates him, what he's been wrong about as well as the massive shifts he sees happening.

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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.

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Show notes:

(0:00) Intro

(2:30) Balaji's background

(7:33) Why Balaji started a newsletter: 1729

(22:40) The media and its biases

(31:58) Balaji on memes and their importance

(37:45) What the future of media looks like and the role of crypto

(56:26) When did Balaji get into crypto?

(1:01:30) Sam asks Balaji what motivates him

(1:11:50) How the world is changing and becoming more Balaji-like

(1:19:39) What would 21 year-old Balaji work on?

(1:22:46) Why geographical proximity is no longer linked to cultural proximity

(1:26:25) How we can align incentives between tech and everyone else

(1:32:30) Balaji on crypto-social networks

(1:37:30) How Balaji operates day-to-day and "the idea maze"

(1:47:33) The importance of finding the right place to live

(1:57:30) What it's like to talk to Balaji

(2:02:08) What has Balaji been wrong about?

(2:11:00) Science vs. math: getting to the truth

(2:21:10) Balaji asks Sam for newsletter advice

(2:24:40) What are Balaji's guilty pleasures

Next Episode

Greatest Hits #2 - How to Build a $100 Million Deodorant Business Starting With Only $1,000

Shaan (@ShaanVP) talks to entrepreneur Moiz Ali (@moizali) on today's episode. Have you ever looked at the back of your deodorant stick and read the ingredients? Aluminum zirconium trichlorohydrex? PPG-14 Butyl Ether? Well, Moiz saw that and created Native, a natural deodorant without all the chemical junk. He built the company from his brother's dining table - doing sales, marketing, operations & customer service as a one-man-show. His hard work paid off, as he sold the company for $100M to Proctor & Gamble just 2.5 years after it launched. Listen in to hear the backstory of how he started using just $1k, how the company almost died (twice), and how he negotiated a $100M sale of the business!

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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:

12:40 - How Moiz got his first product made and first few sales

21:00 - The highs and lows of entrepreneurship

27:40 - How to iterate quickly with a physical product

32:55 - Shaan rapid fires questions at Moiz to understand his mindset and business at the time

46:33 - How Moiz sold Native

58:30 - Moiz talks about his doubters and how it fueled him