The oldest trick in the book to make your first million
My First Million episode 844, where Sam Parr and Shaan Puri discuss how one of America's richest families makes its money, the Cargill family, then Jevons paradox, the Luddites, and where the opportunity lies. Shaan says Cargill is the largest private company in America for 40 years, owned 88 percent by the family, with more revenue than Goldman Sachs, Nike and Starbucks combined. He explains how it began as a grain middleman storing farmers' crops at railroad grain elevators, and the hosts discuss the middleman lesson and Jevons paradox, where efficiency gains increase total use. Sponsor: the description links a HubSpot unsexy business ideas database and promotes Hampton and Somewhere. PARTIAL COVERAGE: this note is based on the Cargill opening, a section on Jevons paradox, the closing and the description, and does not cover the family meetings, Luddites or ice king segments in the roughly 51 minute episode. All claims and figures are the speakers' own and are not independently checked.
Executive Summary (TL;DR)
My First Million episode 844, where Sam Parr and Shaan Puri discuss how one of America's richest families makes its money, the Cargill family, then Jevons paradox, the Luddites, and where the opportunity lies. Shaan says Cargill is the largest private company in America for 40 years, owned 88 percent by the family, with more revenue than Goldman Sachs, Nike and Starbucks combined. He explains how it began as a grain middleman storing farmers' crops at railroad grain elevators, and the hosts discuss the middleman lesson and Jevons paradox, where efficiency gains increase total use. Sponsor: the description links a HubSpot unsexy business ideas database and promotes Hampton and Somewhere. PARTIAL COVERAGE: this note is based on the Cargill opening, a section on Jevons paradox, the closing and the description, and does not cover the family meetings, Luddites or ice king segments in the roughly 51 minute episode. All claims and figures are the speakers' own and are not independently checked.