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

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.
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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