My First Million avatar

Dexa/My First Million

Learn more
Published Jul 31, 2021

How to Stop Your Tech Addiction | My First Million #205

Hosts Sam Parr and Shaan Puri dive into transformative topics such as online lottery innovations, the economic shift in college sports with NIL rules, the contentious mugshot industry, and inventive solutions to tech addiction, offering insightful discussions into the ethical and strategic dimensions of these emerging fields.
Episode Highlights
My First Million logo

Topics covered

Popular Clips

Episode Highlights

  • Lottery Apps

    and explore the innovative concept of buying lottery tickets online through smartphone apps. Shaan explains how these apps work by sending someone to physically purchase the ticket at a gas station, then digitally transferring it to the buyer, thus bypassing legal restrictions on online lottery sales 1. Sam finds the idea brilliant yet acknowledges the aggressive customer acquisition tactics required for success 2.

    It's more convenient because I can get a push notification. It says the lottery is $200 million today. Would you like a ticket? And you just kind of like, yes. And that's low friction.

    ---

    The duo discusses the potential for rapid growth in this market, despite the challenges involved.

       

    Ethics

    The ethical implications of online lottery innovations are a significant concern. expresses his mixed feelings, acknowledging the cleverness of the business model while questioning its morality 3. He highlights the potential for exploiting public data and consumer behavior, drawing parallels to other industries that capitalize on similar tactics.

    There's some psychology. Why are so many people going to these websites? Is it just like a gossip thing? Is it that they are trying to solve some problem?

    ---

    This discussion underscores the complexity of balancing innovation with ethical responsibility.

Related Episodes