My First Million – Episode: 5 Under-the-Radar Trends (+ Our Business Ideas) Released on April 24, 2025 by Hubspot Media

In this captivating episode of My First Million, hosts Sam Parr and Steph Smith delve into five under-the-radar trends reshaping various industries. Through insightful discussions and data-driven analysis, they uncover emerging opportunities ripe for entrepreneurial ventures. The episode seamlessly weaves together topics ranging from healthcare innovations to advancements in drone technology, all while offering actionable business ideas. Below is a detailed summary capturing the essence of their conversation, enriched with notable quotes and timestamps.

1. Unveiling Hidden Trends

Steph Smith kicks off the episode by introducing her extensive compilation of over 100 significant statistics that many overlook. She emphasizes the importance of closely examining these numbers to identify potential business opportunities.

"[...] there are some where it's like, okay, maybe you should actually examine this a little more closely."
— Steph Smith [00:00]

2. The Hearing Loss Epidemic

One of the primary trends discussed is the escalating issue of hearing loss globally. By 2050, nearly 2.5 billion people are expected to experience hearing impairment, with over 700 million requiring rehabilitation.

Key Insights:

• Normalization of Hearing Aids: Steph predicts that hearing aids will become as commonplace as reading glasses, shifting cultural perceptions and increasing adoption rates.

  "Some project that hearing aids are about to become as common as reading glasses."
  — Steph Smith [03:04]

• Technological Influence: Modern lifestyles, such as frequent use of earbuds and attending loud events like SoulCycle classes, are contributing to the rise in hearing loss.

  "The class is way too loud. [...] your Apple watch will tell you, when you're in a Soul Cycle class, this is damaging your ears."
  — Steph Smith [04:23]

Business Opportunities:

• Stylish Hearing Aids: Companies like Loop, which design aesthetically pleasing earplugs for events, exemplify the potential for fashion-forward hearing solutions.

  "These look really cool. People don't even realize they're earplugs."
  — Steph Smith [07:29]

3. Revolutionizing Drone Technology

The conversation shifts to recent regulatory changes by the FAA that have significant implications for drone technology and electric vertical takeoff and landing (EVTOL) aircraft.

Key Insights:

• Drone Delivery: FAA's approval for drones to fly beyond the visual line of sight opens avenues for drone-based delivery services, potentially disrupting the logistics industry.

  "If you can fly a drone beyond your visual aperture, it enables things like drone delivery."
  — Steph Smith [09:29]

• EVTOL Aircraft: Approval of EVTOL companies marks the first new aircraft category in nearly 80 years, paving the way for urban air mobility solutions akin to how cars transformed city landscapes.

  "EVTOL is like cars. If you think about how cities have been oriented around cars, these are going to reshape the way we engage."
  — Steph Smith [10:43]

Business Opportunities:

• Support Services for Autonomous Technology: As autonomous vehicles and drones become mainstream, ancillary services such as maintenance, lidar production, and operational coordination present lucrative opportunities.

  "Who's cleaning those cars? Who's creating the lidar? These are new businesses on the edges of major trends."
  — Sam Parr [15:51]

4. The Psychedelics Renaissance

Steph Smith explores the evolving landscape of psychedelics, highlighting their decriminalization and therapeutic applications.

Key Insights:

• Decriminalization Wave: Starting with Oregon in 2020, numerous states and cities are legalizing or decriminalizing psilocybin, opening markets for psychedelic retreats and therapy.

  "Psilocybin has been illegal for a long time... Today, they're decriminalized in a host of states and cities."
  — Steph Smith [16:55]

• Therapeutic Potential: Beyond treating mental health issues like PTSD, Steph envisions psychedelics aiding in everyday life decisions, such as career choices and personal relationships.

  "Imagine if you had someone guiding you through a psychedelic experience specifically related to your career or deciding to have a child."
  — Steph Smith [20:05]

Business Opportunities:

• Specialized Psychedelic Therapy Services: Establishing clinics or retreat centers focused on specific aspects of personal development can cater to a growing market seeking holistic wellness solutions.

5. Navigating the Future Job Market with AI

The hosts discuss the impact of artificial intelligence on the job market, emphasizing both the creation of new roles and the transformation of existing ones.

Key Insights:

• Fastest Growing Jobs: According to the Bureau of Labor Statistics, roles such as data scientists, security analysts, wind turbine technicians, and nurses are among the top fastest-growing jobs.

  "Data scientists, security analysts, wind turbine service technicians, and nurses are in the top five fastest-growing jobs."
  — Steph Smith [24:25]

• AI as a Solution to Talent Shortages: Industries facing labor shortages, like accounting and healthcare, can leverage AI to enhance productivity and manage workloads without compromising quality.

  "AI is being applied to industries where there is not enough talent. Folks should be looking at these areas."
  — Steph Smith [26:51]

Business Opportunities:

• AI-Driven Solutions for Labor-Intensive Industries: Developing AI tools tailored to sectors like accounting, nursing, and renewable energy can address workforce shortages and improve operational efficiency.

6. Enhancing Pay Transparency

Steph Smith introduces the concept of pay transparency laws implemented in over a dozen states, including California, which require companies to disclose salary ranges in job postings.

Key Insights:

• Emerging Market for Salary Aggregation Tools: Despite the availability of pay data, platforms like Glassdoor have limitations in data accuracy and comprehensiveness, presenting an opportunity for more robust salary aggregation services.

  "Someone should just go scraping these salaries off of different websites and build up this database."
  — Steph Smith [29:10]

Business Opportunities:

• Comprehensive Salary Aggregation Platforms: Creating a tool that automatically collects and aggregates salary data from various sources can provide job seekers and employers with invaluable insights, surpassing the capabilities of existing platforms like Glassdoor.

7. Merging Nature with Technology

In a thought-provoking segment, Steph Smith reflects on her recent trip to the Galapagos Islands and discusses the intersection of nature and technology.

Key Insights:

• Biomimicry in Technology: Drawing inspiration from nature, technologies like Velcro and bullet trains have historically benefited from studying natural phenomena. This trend continues as innovators seek sustainable and efficient designs inspired by wildlife.

  "We learn a lot from nature in the way that we build technology."
  — Steph Smith [36:48]

• Ask Nature Platform: Steph highlights Ask Nature, a resource that catalogs solutions inspired by nature, providing entrepreneurs with ideas for biomimetic innovations.

  "Ask Nature has all sorts of case studies and potential applications inspired by natural designs."
  — Steph Smith [41:33]

Business Opportunities:

• Biomimetic Product Development: Leveraging platforms like Ask Nature to inspire new products that solve modern problems by emulating nature’s time-tested patterns and strategies.

8. Introducing Internet Pipes

Steph Smith introduces her comprehensive resource, Internet Pipes, which offers a plethora of tools, databases, and community resources for identifying and leveraging emerging trends.

Key Insights:

• Resource for Trend Identification: Internet Pipes serves as both a knowledge base and a community platform where members can discover and discuss under-the-radar trends.

  "Internet Pipes was showing people how to find this information through a series of tools."
  — Steph Smith [42:42]

Business Opportunities:

• Subscription-Based Knowledge Platforms: Building a platform that curates and disseminates emerging trend data can cater to entrepreneurs and businesses seeking to stay ahead in competitive markets.

Conclusion: Seizing Emerging Opportunities

Throughout the episode, Sam Parr and Steph Smith underscore the importance of identifying and capitalizing on emerging trends. From healthcare innovations and drone technologies to the evolving job market and the fusion of nature with technology, the episode is a treasure trove of insights for aspiring entrepreneurs. The discussion not only highlights the potential of these trends but also offers concrete business ideas that align with the shifting landscape.

Notable Quotes:

• "Pick the right market. That's easily the most important thing."
  — Sam Parr [01:26]

• "There's a massive change in how we engage with technology and nature together."
  — Steph Smith [Another timestamp]

For entrepreneurs eager to explore these under-the-radar trends, this episode serves as both inspiration and a strategic guide to navigating the future business ecosystem.

Resources Mentioned:

• Internet Pipes: StephSmith.io
• Ask Nature: A platform for biomimetic innovations.
• Loop Earplugs: Stylish and functional ear protection solutions.
• Trusted Health: Facilitating travel nurse placements.
• Digit Database: Steph’s compilation of key statistics driving trends.

Stay Connected: Subscribe to My First Million for more episodes exploring lucrative business ideas and market opportunities. Follow Sam Parr and Steph Smith on their respective platforms to stay updated on the latest trends and entrepreneurial insights.