My First Million – The Secret Founders Of +$1,000,000,000 Brands

Intro

In this episode of “My First Million,” the hosts play a game where they reveal the juicy backstories behind celebrity brands. They discuss the behind-the-scenes people who made these brands successful and rate the stories based on their juiciness. From injuries at fancy hotels to multi-billion dollar brands, this episode is filled with fascinating tales of business success.

Main Takeaways

The Secret Founders Behind Celebrity Brands

• Emma Grede, the business shark behind Kardashian brands Skims, Good American, and Safely, dropped out of the London College of Fashion to build her network through internships and fashion shows.
• Grede’s agency, ITB, connects fashion brands with influencers and celebrities for collaborations.
• The Greed family has created a hold co called Popular Ventures, which spins up fashion and consumer product brands with A-plus celebrities.
• Brian Lee, successful entrepreneur and co-founder of LegalZoom, ShoeDazzle, and The Honest Company, partnered with Robert Shapiro to introduce the Kardashians to ShoeDazzle.
• Virtual Dining Concepts, co-founded by Robert Earl and his son, is involved in a lawsuit with Mr. Beast over Beastburger’s quality control issues.
• Tillman Fertida owns Fertida Enterprises, which generates $4 billion in revenue and owns a variety of businesses, including steakhouses and Bubblegum Shrimp.
• Gothy Ranker started as an audio cassette tape duplication enterprise and evolved into a celebrity-focused content company.
• Guthy-Renker, a privately held company, created successful brands such as Proactiv and Pilates and generates billions in revenue profitably without outside investors.
• Scott Storch, a producer and songwriter, made a fortune in the music industry before losing it all on spending and cocaine.
• Dan, a contest hacker, won free gum for life and exploited little arbitrages to win various contests.

Summary

Emma Grede: The Business Shark Behind Kardashian Brands

Emma Grede, known for her super polished and savage approach to business, co-founded Good American, a jeans brand that generates around $300 million in revenue annually. She also co-founded Skims, a shapewear brand that recently raised $200 million at a $3 billion valuation. Grede’s success in the fashion industry is attributed to her ability to create authentic stories behind brands and connect with influential celebrities.

Robert Earl and Virtual Dining Concepts

Robert Earl, founder of Virtual Dining Concepts, has a history of successful restaurant concepts and partnerships with celebrities. His company owns 30 different restaurants, including Guy Fieri’s chicken restaurant and Bucca di Beppo. However, Beastburger, one of their virtual dining brands, has faced quality control issues and is currently involved in a lawsuit with Mr. Beast.

Tillman Fertida and Fertida Enterprises

Tillman Fertida, who owns Fertida Enterprises, has built a sprawling empire with businesses ranging from steakhouses to Bubblegum Shrimp. His company generates $4 billion in revenue and $1 billion in EBITDA. Fertida proves that restaurant brands with moderately priced meals can be highly profitable.

Gothy Ranker: From Audio Cassettes to Celebrity-Focused Content

Gothy Ranker started as an audio cassette tape duplication enterprise but evolved into a celebrity-focused content company. They purchased the rights to the book “Think and Grow Rich” and created an infomercial that resulted in $10 million in sales over three years. Guthy-Renker, a privately held company, was almost bankrupted during the Gulf War but managed to bounce back and create successful brands such as Proactiv and Pilates.

Scott Storch: Success and Excess in the Music Industry

Scott Storch, a producer and songwriter, made a fortune in the music industry before losing it all on excessive spending and cocaine. His big break came when he became the keyboard guy for The Roots and later worked with Dr. Dre. Storch’s ability to create memorable melodies and understand what motivates people contributed to his success.

Dan: The Contest Hacker

Dan, a genius who never played by the book, won free gum for life by making a commercial for Stride Gum. He also exploited little arbitrages to win various contests, showcasing his knack for finding and capitalizing on opportunities.

Conclusion

This episode of “My First Million” delves into the fascinating backstories of successful brands and the people behind them. From fashion powerhouses to restaurant empires, the podcast provides valuable insights into the world of business and entrepreneurship. Whether it’s learning from Emma Grede’s ability to connect with influential celebrities or understanding the rise and fall of Scott Storch, there are valuable lessons to be gleaned from each story.