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5 Internet Goldmines To Spot The Next $1B Trend | Steph Smith

My First Million

Mon Dec 11 2023



Leveraging Expiring Patents:

  • Tracking patent filings and expiries can lead to business opportunities.
  • BlueChu capitalized on the expiration of the Viagra patent, demonstrating potential for innovative ventures.

Mining Sci-Fi for IRL Ideas:

  • Exploring sci-fi novels for futuristic concepts can inspire real-world innovation.
  • The idea bank from Tech Novelgy provides insights into how many sci-fi predictions have become reality over time.

Spotting Mega Trends Using Data:

  • Our World in Data offers a wide range of information, including population distribution trends and economic indicators.
  • Insights such as the projected growth of elderly populations can inform long-term business strategies, particularly in elder care or related industries.

Air Pollution and Health:

  • Air pollution is a significant global health risk factor, impacting over 3.7 billion people worldwide.
  • High levels of air pollution can lead to adverse health effects, lower GDP, reduced stock market returns, and impact decision-making abilities.

Identifying Mega Trends for Investments:

  • Understanding mega trends simplifies decision-making and presents numerous opportunities for success in various industries.
  • Strategic investment opportunities with substantial growth potential arise from identifying and leveraging mega trends.

Market Opportunities in Tech Accessories:

  • New tech devices often create opportunities for accessory products that complement or enhance their usage.
  • GadgetFlow provides insights into emerging gadget trends and potential adjacent accessories with mass-market appeal.

Innovative Pet Products:

  • Fluent Pet's communication buttons for dogs represent an innovative trend in pet accessories, offering a unique way to interact with pets.
  • The pet industry continues to evolve with new technological advancements aimed at enhancing the relationship between pets and owners.

Entrepreneurial Aspirations:

  • Aspiring to be an "internet artist" involves creating innovative digital experiences that provide value and knowledge in unique ways.
  • Pursuing entrepreneurial ventures driven by personal passion may lead to impactful contributions within the online space.

Leveraging Company Swag:

  • The speakers discuss the potential drawbacks of receiving company swag, mentioning how it can be a tactic to influence individuals.
  • They highlight the addictive nature of free items and its potential impact on people's decision-making.
  • The conversation explores the concept of rejecting company swag as a way to avoid being influenced by corporate tactics.

Negotiating Salary and Imposter Syndrome:

  • The discussion delves into negotiation strategies for salary, particularly emphasizing the importance of women negotiating assertively.
  • They share personal experiences with imposter syndrome and feeling like they are not as competent as their employees, highlighting that this feeling may actually indicate effective hiring practices.
  • The speakers reflect on past experiences related to negotiating salaries and provide insights into gender dynamics in salary negotiations.

Product Pricing Strategy:

  • The conversation revolves around pricing strategy for a new product, considering whether to charge more or less based on the target audience.
  • They explore the concept of ultra-free or ultra-premium offerings, drawing from examples of successful entrepreneurs who have adopted similar strategies.
  • The speakers consider leveraging products or services as tools to attract valuable connections and create opportunities beyond direct monetization.

Long-Term Goals and Financial Freedom:

  • The conversation touches upon long-term goals and financial freedom, urging consideration of creating space for bigger opportunities rather than settling for incremental gains.
  • It emphasizes the value in using products or services as tools to attract valuable connections and create opportunities beyond direct monetization.
  • The discussion highlights the importance of aiming for substantial financial freedom rather than settling for smaller gains.