Want to build a $100 billion company? Give people a new way to earn money. From Uber and Airbnb to the AI model training companies of today, this is a powerful business model. 

Ever have a hard time getting anyone to care about your product? What founder hasn’t, right?

If you give people the opportunity to make a living, they will pay attention. Money is the one thing everyone wants.

Earning with Startups: the Sharing Economy

The first startups to give people new ways of making a living were the sharing economy startups of the 2010s.

Uber let people make money using something they already had: their car. Airbnb let us make money from our spare rooms.

Running a little behind on your bills this month? Do a few hours of Uber.

People flocked to Uber and Airbnb because they gave them something everybody needs: a way to make money. And sure enough, Uber and Airbnb were the largest outcomes of that cycle.

Earning with Startups Today: Teaching Robots

A friend of mine lives in Thailand and teaches English online. Soon, he may be supplementing that income by training robots. 

“Did you know that you can take videos of yourself washing dishes and make $50 an hour?” I asked him recently.

“That’s wild! But who would want to watch such a boring video?” my friend responded. 

“That’s just it. People aren’t watching. Robots are.”

Robotics companies need a ton of data of people doing things like washing dishes, folding clothes, and stocking the fridge. With enough data, the robots will be able to do the tasks themselves.

This opens up an incredible opportunity for people to make money. They’d already be folding clothes. They might as well get paid to do it!

Several companies like Micro1 and Encord hire folks to train robots. And sure enough, Micro1 is one of my most successful investments.

We were on welfare and food stamps for part of my childhood. If my mother could have made $50 an hour for doing chores, it would have changed our lives.

People will flock to these robotics platforms. The promise of good-paying work is impossible to resist. 

Earning with Startups Today: Be Funny, Make Money

Today’s startups aren’t just helping people earn by training robots. You can also monetize your sense of humor.

I recently did an investment in a company called Memelord. They provide tools to make memes.

Some Memelord users have been able to quit their jobs and make memes for marketing campaigns for major companies. 

If Memelord just gave people tools to make funny pictures, that could be a good business. But if it gives them a new way of making a living, that’s way more powerful. 

I imagine a future where hundreds of thousands, maybe even millions of people are making memes from home and making bank. It’s a lot more fun than grinding on spreadsheets at the cubicle farm! 

Wrap-Up

If your product gives people a new way to make a living, you have a chance to become a massive company.

Let’s say my friend joins your robotics training platform and starts making $50/hour. He’ll tell his friends about it. 

They’ll join the platform too. Soon, you’re growing faster than you can handle. 

Business is about giving people something that they want. A way to earn money is one of the most powerful wants.

Satisfy it, and you just might become a billionaire. 

More on tech: 

Meet My Latest Investment: Memelord

How Early Stage Founders Can Save Money and Buy Their Freedom

Do Investors Take Forever to Get Back to You? Here’s What I’m Doing Differently

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