🔑 Key Takeaways
- Using a tool to find websites with the same IP address can unveil connections between different sites, highlighting the influence and interrelation of specific platforms and industries.
- The online plant market and psychedelic therapy are two emerging industries that have the potential for significant growth and innovation in the coming years.
- Niche websites that provide valuable answers to highly Googled questions and build authority can generate substantial revenue without funding in the media industry.
- Despite saturation, success can still be achieved by offering a better solution or targeting a niche market, showcasing the potential for growth and profitability in various industries.
- Notion, a cute and functional to-do list app, is part of a growing trend of unbundling software suites. Despite uncertainties, venture capitalists see potential for significant growth in this market.
📝 Podcast Summary
Exploring Website Connections: Discovering Shared IP Addresses
There is a tool that allows you to find websites using the same IP address. By using this tool, you can discover all the other sites that are built on the same platform. For example, there are many popular Shopify stores that share the same IP address, such as vape companies, online deals sites, multi-brand clothing stores, makeup brands, and more. One standout brand is Seed Beauty, which manufactures makeup for brands like ColourPop and even white-labels for Jenner. Another interesting discovery is dailysteals.com, a penny auction site that may be considered a scam. These insights reveal the power and popularity of certain platforms and industries, and highlight the potential connections between seemingly unrelated websites.
Emerging Industries: Online Plants and Psychedelic Therapy
There are two interesting emerging industries to keep an eye on. The first one is the online plant market, represented by companies like The Sill. This industry is reminiscent of the match industry in 2010, and it is predicted to change dramatically in the coming years. The Sill's success and the potential for high profits make it an attractive venture for entrepreneurs. The second industry is psychedelic therapy, specifically the use of substances like ketamine and mushrooms for therapeutic purposes. Companies like Mindbloom are connecting people with therapists who can legally administer these substances. While not mainstream yet, there is growing interest and potential in this sector. Both industries offer unique opportunities for growth and innovation.
Undervalued Opportunities in the Media Industry
There are undervalued opportunities in the media industry, particularly in websites and blogs. Many of these businesses are selling for one times revenue, but they have the potential to be great if done correctly. For example, Nerdwallet.com and The Penny Hoarder have achieved significant revenue without funding. Their success lies in answering highly Googled questions with valuable answers, building authority and attracting backlinks for SEO. These businesses tap into the demand for information and solutions, such as personal finance advice and credit card recommendations. This highlights the potential for other niche websites to capitalize on this model and generate substantial revenue.
Finding Success in Saturated Industries
There are still opportunities to succeed in saturated industries by offering a better solution or targeting a niche market. While the financial sector may seem crowded with companies like NerdWallet, successful businesses like Money Supermarket and The Points Guy prove that there is room for growth and profitability. Additionally, other industries, such as software and hunting/fishing, have shown potential for success with companies like G2 Crowd and Meat Eater. By identifying untapped markets or creating innovative solutions within established industries, entrepreneurs can find success and generate revenue. Furthermore, industries like oil and gas may benefit from content sites and lead generation strategies, showcasing that even niche markets can be profitable with the right approach.
The Rise of Business Apps and the Potential of Notion
There is a growing market for business apps that aim to unbundle popular software suites like Microsoft Office. Notion, a company that offers a cute and functional enterprise-level to-do list, is an example of this trend. They have raised a significant amount of funding and boast a million users. However, it remains to be seen how they will monetize their product. While some may be skeptical about the long-term success of these apps, venture capitalists continue to invest in them. The key question is whether they can achieve a significant markup on their investment and reach a valuation of billions of dollars. So, while Notion may not be revolutionary, it is certainly an interesting player in the market.