Snapshot · My First Million
In Turkey, the average public company's free float turns over completely every 17 days — about 4% of shares trading hands daily — making it one of the world's most hyperactive markets.
Where this was said
At 21:00 · chapter starts 20:13
The 'take a simple idea and take it seriously' model is the bedrock on which all other models rest, Pabrai argues — without buying into it completely, nothing else works [1] — Mohnish Pabrai "Turkey's stock market cycles its entire float every 17 days — a nation of gamblers. India's investable companies are priced at stratospheri…" 20:00 . His first Turkey trip was a limb bet: screens showed the market was cheap, so he went to look. What he found was staggering: an average float turnover of 17 days, roughly 4% of shares trading every single day, virtually everyone treating the Istanbul Stock Exchange as a casino with a ticker. India, by contrast, had 100-150 genuinely investable companies out of 5,000, all pounded to stratospheric valuations by smart domestic investors. A Coke bottler in Turkey was priced at a fraction of the equivalent in India. An airport operator — a natural monopoly — was at 3-4x earnings in Istanbul versus 50-70x in Mumbai. The decision was binary and immediate: India zero, Turkey all-in. Being inch wide and mile deep in a market where nobody else was looking gave Pabrai access to returns mathematically unavailable elsewhere — the direct antecedent to the Reysas 90x story told later in the episode.
Sam built Algrow from zero to $14,000 in monthly revenue within just six months of shipping his first MVP.
Algrow reached over 10,000 users in roughly six months, driven almost entirely by organic Discord community growth.
Sam acquired his first 400 users entirely through Discord communities, without paid advertising or traditional outreach.
Algrow added exactly 480 new paying customers in its most recent month, demonstrating strong ongoing growth.
Sam's Stripe dashboard showed over £10,000 in revenue in the last four weeks, equivalent to roughly $13,000–$14,000 USD.
Sam gave all early users free access so they could show the tool to friends, turning them into live demos and advocates who helped the product spread virally.
By silently screen-sharing his tool in Discord voice chats rather than posting links, Sam attracted curiosity without violating no-self-promo server rules.
Before building Algrow, Sam and two friends made over $10,000 in revenue through affiliate marketing for RizzApp by posting faceless texting story content.
Bhanu grew SiteGPT to $13,000 monthly recurring revenue entirely through organic channels, spending nothing on paid marketing.
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