The Two Businesses I'd Start in 2026 to Make Millions

Key Takeaways

What opportunities or ideas do you see today that either, you know, you're tempted to do or you say, "No, I'm out of the game, but if I was 25 again, >> this is what I would be running at. This is what I would be working on. Um, this is a problem that I think somebody could go solve." What do you see out there today? >> So, first off, a lot of it is situational, right? someone coming out of someone with a degree from an elite university who has the ability whose parents will support them and doesn't have a high burn or maybe a partner that works. You know, it's just a lot of it's situational. I I don't like it. I've never liked this hustle culture where people say go offer to carry Jeff Bezos bags or have coffee cuz some if you're a single mother that's just not an option for you. So, some of it's situational. So, I'll go through a few situations. If I'm a young man or woman and I haven't had the opportunity to get credentialed, I don't have a traditional four-year college degree, much less a college degree from an elite institution. I think there are going to be a lot of businesses, whether it's carpet cleaning or gas stations or uh you know, hanging and selling draperies into small furniture companies that are owned by boomers. They're going to need a transition. Nice small businesses. And these individuals will need liquidity events and they're just aging out of the business. They don't, you know, they're hitting their 60s and 70s and they don't want to be calling on car washes to sell in, you know, their product or whatever it is. And these are businesses doing between half a million and 10 million a year that have no succession strategy because if they made money, their kids don't want to be in this type of business because their kid went to Emmery and wants to go to work at Google. And I would try and find be really scrappy about getting into a business, understanding it, trying to find people who own it, and figure out a way to buy it using that person's capital. Approach somebody and say, "I want to take over your business. I'm going to buy it slowly over 5 years, and then I'm going to give you coupons so you can retire." Um, if I'm a credentialed person, if I have a degree, I'm fortunate enough, I would go to work for a big platform. I think we live in an era of of where antitrust is no longer in effect. So the big companies, if you were to divide the stock market into deciles, the 10 the companies with the largest market cap over the last 30 years have outperformed the bottom nine by huge factor. So going to work for a big company is vastly underrated. They can abuse their monopoly position. They will have that mole removed. You will get rich slowly working at Google or at McKenzie. So if you're credentialed uh you know we overromanticize entrepreneurship. If you have the ability to get into the greatest wealth creating vehicle in history and that is a US corporation do it. But they have security at the front saying do you have a degree from an elite college. But if you do absolutely go to work for a big multinational conglomerate. If you're an entrepreneur I think that the and credentialed and can raise money. I would say that the intersection between AI and healthcare, the most disruptible business in the world is US healthcare. Three and a half to four trillion dollars. Four out of five people aren't happy with it. It's costs have outpaced inflation for the last 40 years. Meaning it's got the biggest chin in the world. And I think the fists of stone coming for it are uh is artificial intelligence where we can take healthcare from a defensive based industry to offensive. I give my grocery receipts, my workout routine, my health care records, my sleep patterns to a company that figures it all out and then gives me prescripted goes on offense proactive lifestyle, grocery, and exercise recommendations. And I think there's just going to be a ton of niche businesses in healthcare that leverage some form of AI. >> Are there any out there that you like? >> Yeah. Uh, I'm an investor in a company called 98.6 that does text based healthcare. It's a private company. So, we sell into B2B, a big, you know, SAMs. And Sam's offers for $3 a month every employee or we charge them three bucks from an ability to text somebody and then AI says, "Okay, that's it's a it's a rash. We're getting a dermatologist on the line. They look at the rash using your smartphone and say, this is fine. I'm sending you a cream and hit and or this needs a prescription. and we're hitting the pharmacy. And by the way, that that investment I've written down by 80%. It's been really hard. I've I've lost money so far in that. So I don't want to pretend that this is all easy, but I would say if I were young and had intellectual capital and credentiing, I would go into something around AI and healthcare. And then >> man well like that shocks me that you said that say that because when I look at I've done a few healthcare things and I look at like the landscape it seems like impossible to like it just there seems like there's a ton of regulation figuring out insurance companies seems like the hardest thing there is. Um and even though everyone is frustrated about their setup this seems like a like a very challenging space to crack into. And of course there's there's huge rewards if you can pull it off, but it seems very very challenging. >> I I just look at this I look at this category and how much money is in this category and um it's going to happen. It's just there's never been a business there's never been a carcass so tempting, so bloated, swimming so slowly as US-based healthcare. We spend $13,000 per person, but we die earlier and we're obese and we're more depressed. The UK spends six and a half thou. How can the UK and Australia be living longer and spending half what we in the US spend on healthcare? That's just the mother of all chins. There's going to be disruption there and I'd want to get in the way of that. The other thing I'm really excited about and I think is the most underhyped, I just did a blog post on this. I think GLP1 is bigger than GPT4. >> What's GLP1? >> OAMPic WGIA. >> Oh, yeah. Yeah, yeah, yeah. Yeah. Which I I've I've tested semiglute a ton. It's amazing. Um like I think there's like so many crazy implications on what it could do. Like I think I think it could I' I've been saying this I don't know by the way other than I tested it and I had drinking problems in the past. I think it could like help solve alcoholism. I think there's so many crazy things. There was this guy on Twitter. Uh our our buddy from uh CB Insights was like, what did he say? Did he say that um uh food companies are going to lose money because people are eating less? And he said airline companies are going to make more money cuz people weigh less. He's like, that's how big of a deal these drugs are. >> If I was starting a hedge fund right now, I would have a fund that did nothing but go short. Food stocks, McDonald's. Nobody walks into Arby's and looks around and thinks this was a good decision. No one ever thinks that. [laughter] And if all of a sudden I could get an injection or take [clears throat] a pill every week, that helped me make better decisions. Our instincts have not caught up to the institutional production of our economy. We drink too much. We eat any anytime we're near salt, fat, or sugar, we gorge. Because for 99 again, 99% of our species history, we couldn't find these things. When mating, the majority of men have had almost no mating opportunities through history. A small minority of men have had all the mating opportunities. And then you're presented with a reasonable faximile of sex called porn. And there's a there's a decent segment of men out there who aren't working, aren't getting out of the house because they're staying home and watching too much porn. And they're also not engaging in relationships. We drink too much. I'm addicted to other people's affirmation. My kid is on Snap too much. This could be scaffolding. I mean, the weight loss thing is arguably the biggest addressable market in the world. 40% of America is obese. 70% is obese and overweight. But even bigger than that, this could be the scaffolding on our instincts to update our instincts to where they need to be with in the industrial production that has gone exponential in the last 150 years with assembly line technology and the microprocessor and say, "Okay, Scott, you like THC too much. You like alcohol way too much. You're too desperate for other people's affirmation and what people say about you on Twitter bums you out way too much. We're going to calibrate these GLP-1 drugs to help you moderate your cravings. I mean, what these things do is they moderate your cravings when your cravings are getting the incorrect signals from 300,000 years of instinct on on the savannah. And everybody, I mean, they're finding out they're finding out people on ompic drink 60% less alcohol. They're biting their nails less. So, the opportunity to update our instincts for the entire I mean the market I I'm just [laughter] I'm blown away by this thing. I think it could be just enormous and there isn't anybody that doesn't have that has instincts that has a behavioral model that is that is driven by instinct that is caught up to our world. I don't care who you are. >> Have you tried it? >> I haven't, but as you can tell, I'm ready. [laughter] Yeah. Jeez, I feel like you just injected me digitally just now with it. That was amazing. [laughter] >> You know how much it costs a month? >> It's about a thousand bucks a month, right? It >> it's between 500 and $1,000 a month. When I was trying it, it was 500 a month out of pocket. Most insurance companies and and I think if you have diabetes, they actually only cover it, I think, for a limited time, but most people using it now are are just paying $500 to $1,000 a month. And here's the crazy about this drug. You have to increase your dosage every week. So, you start with a very small amount and every two weeks or so, you have to increase it like forever. >> Well, I I don't know forever, but over a course of at least a year, you have to So, the like when I first started taking it, I would I would test out just a little bit and it would make me a little bit sick to my stomach. You know, the the downside of there's a few downsides. One is upset stomach. And then after about 3 weeks, I'm like, "All right, I feel great. Let's let's increase it." And then now at the end of uh 6 months you're taking 10 times you basically on a syringe you got to fill the thing up to 100. At first you fill it up to 10 and over a year you've have to increase it and so you have to pay more and more money. >> What could go wrong? [laughter] >> There's a lot of things that can go wrong with it. I I like I I' I've tested it. One downside is I actually don't know if you develop healthy eating habits. You just eat less >> and you lose muscle. >> You lose muscle. Uh there are definitely downsides to it. it it's not a terribly new drug like uh I think that these types of things have been around for like 30 years so there's some studies but like the as it's being prescribed now it's definitely newish so there are definitely going to be downsides but it's super promising another one is uh metformin which isn't in the same um which isn't in the same category entirely but it's does similar things that's super interesting I always think it's interesting when people like Sam Alman like these geniuses who like see everything take it and he's been like this is the drug I take I take metformin all the time so That's super fascinating. So I agree. I think I think these this classification of drugs is is quite interesting. >> I mean I was even thinking I'm trying to figure out the second order effects here and like does Mona stock go down 80%. Because the reality is through the pandemic we the far right weaponized and politicized masks and vaccines and decided well if you take them it means you're far left. So if you're far right you don't want to take these things. On the far left we weaponized and politicized obesity. We didn't want to acknowledge that 88% of mortalities had one coorbidity uh at least that was obesity related. And we started with this trope of oh you're not obese you're finding your truth. No you're not. You're finding diabetes. There's nothing to celebrate here. [laughter] And so we decided we didn't want to have an open conversation about the fact that America is obese. 40% of America the kids you're more likely to commit suicide obesity in children it's terrible you're much more likely to be depressed as an adult not go to college and become more likely to kill yourself I mean so what happens to modern stock if all of a sudden we drastically reduce if you drastically reduce obesity in America you drastically reduce the vulnerability of the population to a corona virus. So, do you need MOA? I mean, at at some point, the reality is a 25-year-old who's thin. Yeah, you get vaccinated for a variety of reasons, but it's not it at some point it becomes less obvious whether you need these vaccines when the society is healthy and not obese. I I mean, I'm just kind of blown away. Hospital networks, entire hospital networks could go out of business if they're really honest. The Milkin Institute said obesity related costs are $1.7 trillion a year. When you look at everything from knee replacements to cardiac to cancers that are obesity related, we're looking at $1.7 trillion a year. That's 7% of our economy. So what happens when the entire economy gets a cost cut of 7%. So I I'd want to get kind of near this techn I think this technology is going to have a bigger impact on the real economy than AI. I think AI we've kind of hit peak AI. I love it. I use it a lot but it's a little bit overhyped right now. We're definitely kind of I would say I think about a month ago we hit peak AI in terms of as from an investor standpoint. I would not want to be buying into AI companies right now. As an entrepreneur, I'd want to be raising money for an AI company. But I anyways, you asked me what I was excited about. Trying to find a baby boomer that wants to sell a small business and do seller financing. Uh if you're have certification, you're fortunate enough for whatever reason, you either have rich parents or you're freakishly remarkable and you ended up at Dartmouth, go to work for a big American company. We are they're amazing. You'll get rich slowly. Smart people. Great place to meet mentors. Great place to meet mates. you just just these companies are totally underrated in terms of their power and what they can do for you professionally and economically. uh if you're an entrepreneur something around healthcare and AI and I think from an investment standpoint uh I just want to be near I'm very excited about GLP1 as an emerging technology