1:02:46How a $25 Million a Year Sweepstakes Business Works | My First Million #193
From My First Million · Published Jul 5, 2021 · Watch on YouTube
TL;DR
The hosts discuss Oasis, a deepfake-like Zoom alternative that transmits only pixel coordinates to enable low-bandwidth, high-quality video; they break down the sweepstakes business model using bold.org (scholarship lead gen) and a car-giveaway company doing $26.7M revenue / $5.8M profit.
Key insights
- Oasis works by sending pixel coordinate data (like a video game) instead of video, enabling realistic avatars even on very poor connections; the technology can also let users appear as a different per
- Over 60% of North American Zoom users don’t turn on their camera due to self-consciousness; Oasis addresses this by making everyone look “professional” regardless of actual appearance.
- The sweepstakes business has three monetization models: (1) selling entries (e.g., buy a house raffle), (2) selling the lead data (bold.org approach), and (3) selling merch where purchases give extra
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