#162 - Why Clubhouse Will Fail

#162 - Why Clubhouse Will Fail

Update: 2021-03-22
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My First Million



Podcast Notes Key Takeaways

  •  Writing a viral thread has a lot of upsides: 
    • Shaan got invited to go on CNBC and a German news station
    • Had his thread praised by a lot of famous individuals
    • Got an offer for a book deal
    • Shaan gained about 20,000 new followers from that one thread
  • Advice for writing a viral thread:
    • Write your thread and then come back to it an hour or so later. You want to look at it with fresh eyes and then edit it.
      • Ernest Hemingway used to say, “Write drunk, edit sober”
    • If you’re able to write about something a lot of people have a hunch about but can’t articulate well, people will share that post
  • Why does Shaan think Clubhouse will fail?
    • App downloads are slowing and user retention is falling
    • The app has an interestingness problem
      • Also known as TTF (time to fun) or the length of time it takes to have fun in the app. All the great apps (Tiktok, YouTube, etc.) take less than 7 seconds to get good content.
        • Additionally, Clubhouse is live so it’s exponentially harder for users to find good content quickly
  •  Clubhouse has two options:
    • Become a content platform with fast growth but low retention
    • Become a chilling platform with slow growth but high retention 
  • Two common mistakes newsletter writers make:
    • Charging too little
    • Not having a frontend and a backend product
      • You need a cheap product that a lot of people buy and a premium product that only a small number of people buy but makes you a lot of money


Read the full notes @ podcastnotes.org




Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

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Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) discuss:


0:45 Shaan breaks down why and how Clubhouse will fail (although he wishes it won't)


17:10 How to go viral and also improve your writing


27:07 How to win (and make millions) in the content game


36:22 How 'The Hustle' finds its talent


38:44 A simple startup idea with huge potential


50:38 How Shaan's tweet became a meme


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Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.


Editing thanks to Jonathan Gallegos (@jjonthan)

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#162 - Why Clubhouse Will Fail

#162 - Why Clubhouse Will Fail

The Hustle & Shaan Puri