Dumb iPhone Apps Are Making People Rich Again (Here’s how)
Executive Summary
My First Million episode 799, in which Sam Parr and Shaan Puri talk with Starter Story founder Pat Walls about selling his company to HubSpot and about business ideas he has seen lately. Pat says the deal had not yet closed at recording, describes the psychology of waiting for it to be signed, closed and wired, and says that of 12 founders he talks to each week, about six are doing well with iPhone apps, such as one that blocks scrolling until you do push-ups. He explains how Starter Story builds each video around one big idea, why he built his company around asynchronous systems rather than urgency culture, and tells the story of a think week where he concluded that he is his own greatest obstacle. Sponsor named in the description: HubSpot, which was buying the guest's company. PARTIAL COVERAGE: this note draws on the opening, app ideas, video format, systems and think week sections, and may miss parts of the roughly 47 minute video. Revenue figures and deal details are the speakers' own claims and not independently checked. Nothing here is financial, investment or legal advice.
Key Takeaways
Selling to HubSpot
Pat says HubSpot was buying Starter Story and that he could not celebrate until it was signed, closed and wired.
iPhone apps
He says about six of the 12 founders he talks to weekly are doing well with iOS apps, such as a push-up blocker app reported at around 30 thousand dollars a month.
The new info products
The hosts compare successful app makers to the info product sellers Pat once aspired to be.
One big idea per video
He says every video has one big idea about why it should exist, such as a ten-step playbook that a Reddit post laid out.
Systems over urgency
He says he hated urgency culture at his old job and built his company around asynchronous systems.
Busy is for losers
The show notes frame this as his view that being busy is not a virtue.
Own biggest obstacle
He tells of a think week after burning out while splitting time across about 10 side projects, concluding he is his own greatest obstacle.
The Conversation Breakdown
Selling to HubSpot
⏱ Untimed topicPat says HubSpot was buying Starter Story and that he could not celebrate until it was signed, closed and wired.
iPhone apps
⏱ Untimed topicHe says about six of the 12 founders he talks to weekly are doing well with iOS apps, such as a push-up blocker app reported at around 30 thousand dollars a month.
The new info products
⏱ Untimed topicThe hosts compare successful app makers to the info product sellers Pat once aspired to be.
One big idea per video
⏱ Untimed topicHe says every video has one big idea about why it should exist, such as a ten-step playbook that a Reddit post laid out.
Systems over urgency
⏱ Untimed topicHe says he hated urgency culture at his old job and built his company around asynchronous systems.
Busy is for losers
⏱ Untimed topicThe show notes frame this as his view that being busy is not a virtue.
Own biggest obstacle
⏱ Untimed topicHe tells of a think week after burning out while splitting time across about 10 side projects, concluding he is his own greatest obstacle.
Core Frameworks & Ideas
One big idea per video - Pat's content rule
Build the whole piece around a single idea.
Asynchronous systems - Pat's operating principle
Design work so urgency and constant messages are not required.
Think week - Pat's reset
Step away to think when you are burnt out and spread too thin.
Actionable Next Steps
- ✓Write the one big idea of your next piece of content before making it.
- ✓Look for one process you can run asynchronously instead of by real-time messages.
- ✓List your side projects and decide which one deserves your time.
- ✓Treat the revenue and deal claims as the speakers' own, not as financial advice.
Notable Quotes
“I am my own greatest obstacle”
“every video has like a big idea like why should this video exist”
“I was the guy with like 10 side projects”
The One Thing to Remember
Pat Walls says simple iPhone apps, one big idea per video and calm asynchronous systems built Starter Story, and that his own habits were his biggest obstacle.