1:04:21A Breakdown of Trendy New Businesses & Boring 9 Figure Businesses | My First Million #202
From My First Million · Published Jul 5, 2022 · Watch on YouTube
TL;DR
The video contrasts "trendy" businesses (stretching gyms, ephemeral tattoos, ice baths, chanting studios) with "boring 9-figure" businesses (Jostins class rings ~$700M/year, Pantone color system >$100M/year, WGSN ~€90M/year). Core thesis: the most profitable, low-effort businesses are boring defaults that lock customers in via contracts, compliance, or habit—not innovation.
Key insights
- Jostins class rings: founded 1897, acquired by Newell Brands for $1.15B, later sold to Platinum Equity for $1.3B (taking a $200M loss). Revenue ~$700M/year flat/declining 5% annually. Has 3,000+ emplo
- Pantone: private company that created the universal color‑matching system (~2,500 colors). Makes >$100M/year selling booklets ($85–$500) that must be updated annually as new colors are added. Uses "Co
- WGSN: subscription trend‑forecasting service (~€90M/year revenue). Companies pay ~$18K/year for reports and advisory on colors, fragrances, etc. (e.g., Starbucks uses it to pick seasonal cup colors).
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