My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Event Psychology Model
Humans cannot resist investigating when they see other humans gathered around something, making events automatically generate attention and social proof
Decision Rule
When launching products, create events that generate crowds rather than individual marketing messages
How It Works
Primal psychology makes humans investigate group activity for survival - if others are paying attention, there might be opportunity or danger
Failure Modes
Creating fake crowds that feel inauthentic
Events without substance behind the crowd
Not leveraging media coverage of events
Making events too exclusive or inaccessible
Example Decision
“Instead of sending press releases about elevator safety, PT Barnum created live demonstration event where crowd gathered to watch Otis risk his life, generating newspaper coverage and sales”