49:58The 2023 Milly Awards (#531)
From My First Million · Published Jul 4, 2024 · Watch on YouTube
TL;DR
The 2023 Milly Awards part one covers categories including favorite MFM guest (Kevin Ryan for tax strategies, Sarah Moore for bootstrapping, Connor Price for viral marketing lessons), Billy of the Year (Charlie Munger, Palmer Luckey, Jesse Itzler), biggest personal changes for 2024 (Sam: dumb phone; Andrew: break up with email via assistant; Sean: shut down profitable streams to create space), per
Key insights
- Kevin Ryan revealed a specific tax structure: use QSBS eligibility, gift stock to kids' trust before a financing round, resulting in ~14% state tax and zero federal/kids' tax, allowing up to $50M tax-
- Sarah Moore's story raised skepticism (too-good-to-be-true elements: zero cash down acquisition, Harvard backstory, no online presence) but was verified in person; her episode got ~500k listens.
- Connor Price exemplifies a new marketing era: product baked into entertaining content (skit with payoff song) rather than interruption or influencer endorsement; Mr. Beast uses same model.
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