We found the top 1% of the internet this week (so you don't have to) - My First Million Recap

Podcast: My First Million

Published: 2025-06-20

Duration: 56 minutes

Summary

Sam Parr and Shaan Puri dissect some of the week's most intriguing stories, from Apple's new AlarmKit to ChatGPT's skyrocketing retention rates and McKinsey's questionable billing practices. They also touch on fascinating business stories, leadership insights, and even some wild internet finds.

What Happened

Apple's introduction of AlarmKit unleashed a wave of innovation by allowing any app to function as an alarm clock, a feature previously restricted to Apple's native app. The hosts discussed how this small change could unlock a billion-dollar opportunity for creative developers, such as a David Goggins-themed motivational alarm clock.

McKinsey's staggering $55 million billing to Warner Bros. Discovery came under fire for its seemingly redundant advice to rebrand HBO multiple times. The story sparked a hilarious critique of consulting firms, with Shaan coining a memorable line: 'They have huge brains but small balls.'

Frank Slootman's leadership philosophy from his book "Amp It Up" took center stage as the hosts admired his no-nonsense approach to cutting slack in organizations. His advice to aspiring leaders—'Pick up the pace and apply common sense'—resonated, especially when contrasted with more bureaucratic consulting practices.

The incredible story of a man who scammed Facebook and Google out of $122 million by sending fake invoices was both shocking and oddly impressive. The scammer's ability to exploit corporate inefficiencies highlighted a surprising vulnerability in big tech operations.

ChatGPT's retention rates reached unprecedented levels, with 90% of users staying active after one month. This level of engagement, combined with OpenAI's $10 billion ARR milestone, positioned the company as the defining tech giant of this generation, akin to Facebook in its prime.

Theo Vaughn's rise in the comedy world was another highlight, as his humor and relatability have propelled him to rubbing shoulders with high-profile figures like Ivanka Trump and Jared Kushner. His ability to maintain his unique voice while navigating fame was applauded.

The episode also featured a dive into Gary Tan's stunning converted church home in San Francisco, now a hub for events and meetings. The mix of historical architecture and modern luxury made it a standout example of creative living spaces.

Finally, Ramp's meteoric rise as a competitor to Brex was explored. The company's ambitious goal of reaching a billion-dollar valuation in its first year, though slightly delayed, showcased the audacity and execution of its founders, Eric Glyman and Kareem Attia.

Key Insights

• Apple's new AlarmKit lets any app act as an alarm clock, a feature Apple previously kept exclusive. This small shift could create billion-dollar opportunities for developers—imagine a David Goggins-themed alarm that screams 'Stay hard!' at 5 AM.
• A man scammed Facebook and Google out of $122 million by sending fake invoices, which they paid without question. This exploit shows how even the most sophisticated companies can fail at basic operational diligence.
• McKinsey billed Warner Bros. Discovery $55 million to repeatedly rebrand HBO, advice so redundant it became a punchline. The case exposes the gap between consulting firms' intellectual reputation and their real-world impact.
• Frank Slootman, in 'Amp It Up,' argues most companies move too slowly because leaders tolerate slack. His fix is simple: cut bureaucracy, trust common sense, and set a relentless pace—an approach at odds with consulting-heavy cultures.

Key Questions Answered

What is Apple AlarmKit and why is it a big deal?

Apple's AlarmKit allows third-party apps to function as alarm clocks, a feature previously restricted to Apple's native app. This change opens up a billion-dollar market by enabling developers to bring creative and personalized alarm experiences to millions of iPhone users.

What does Frank Slootman emphasize in his leadership philosophy?

Frank Slootman advocates for eliminating organizational slack, accelerating timelines, and applying common sense in decision-making. His book 'Amp It Up' outlines his belief in setting higher expectations and maintaining rigor to drive success.

How did a scammer steal $122 million from Facebook and Google?

A scammer created a fake company mimicking a legitimate vendor and sent fraudulent invoices to Facebook and Google, which were paid over two years. This exploitation of corporate inefficiencies highlighted vulnerabilities in big tech's financial operations.