Dumb iPhone Apps Are Making People Rich Again (Here’s how) - My First Million Recap

Podcast: My First Million

Published: 2026-02-24

Duration: 49 min

Summary

The episode explores the resurgence of iOS app development, highlighting how simple, niche applications are generating significant income for their creators. Founders are leveraging unique features to attract users and monetize effectively.

What Happened

The hosts discuss the surprising success of iOS apps in today's market, with a notable statistic that six out of twelve founders they speak to weekly are thriving with app-based businesses. An example shared includes an app that mandates users to do push-ups before accessing social media, which is making around $30K a month. This innovative approach to app functionality is driving revenue and highlights a shift back to mobile app opportunities that some may have thought were outdated.

Pat from Starter Story joins the conversation, sharing his journey of negotiating a sale to HubSpot. He reflects on the psychological aspects of the deal, describing the mix of nervousness and excitement that accompanies such a significant transition. Pat emphasizes the importance of having a clear walkaway number during negotiations, illustrating how he arrived at his final figure through introspection and consultation with tools like ChatGPT. He also touches on the unique value proposition of Starter Story, which requires founders to share their revenue, giving users insight into what makes a successful business.

Throughout the episode, the hosts highlight how Starter Story distinguishes itself by focusing on numbers and clear metrics, which resonate with a broad audience. This approach not only helps aspiring entrepreneurs learn but also encourages transparency among business owners. The conversation wraps up with a discussion on the potential of iOS apps, with Pat noting that the simplicity of certain app concepts can lead to substantial financial success, challenging the notion that the app market is saturated.

Key Insights

• Six out of twelve founders are currently succeeding with iOS apps, indicating a resurgence in this market.
• Unique app functionalities, such as requiring users to complete tasks before accessing content, can drive significant revenue.
• Transparency in business, exemplified by Starter Story's requirement to disclose revenue, can attract users and build trust.
• The negotiation process for selling a business requires clear self-awareness and a defined walkaway number to ensure authenticity.