51:07Nigerian Scammers & Con Artists | Fake Airport Sold For $240 Million | My First Million 6/24/20
From My First Million · Published Jul 5, 2021 · Watch on YouTube
TL;DR
The episode discusses business ideas and scams, including Google killing potentially large projects due to insufficient scale, the Cisco spin-in model for internal innovation, a ride-share credit arbitrage scheme in India, and a proposal for a centralized vault (Fort Knox) for collectible baseball cards.
Key insights
- Google has killed projects that could generate hundreds of millions in revenue because they were "too small" to move the needle for the company.
- Cisco successfully used a "spin out spin in" model where a small internal team (the "M Team") repeatedly built new businesses, spun them out as separate companies, and gave Cisco the right to re-buy t
- A ride-share credit arbitrage business exploits referral programs in India (cheaper short rides) to generate discounted credits for US users; the operator reportedly pays with Bitcoin for an additiona
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