Podcast Summary: My First Million - "Dumb iPhone Apps Are Making People Rich Again (Here’s how)"

Date: February 24, 2026
Hosts: Sam Parr, Shaan Puri
Guest: Pat Walls (Starter Story)

Episode Overview

This episode explores the surprising resurgence of simple, sometimes “dumb” iPhone apps as lucrative businesses. Hosts Sam Parr and Shaan Puri interview Pat Walls, founder of Starter Story (recently acquired by Hubspot), who shares firsthand insights and examples from the bootstrapped founder community. The conversation spans trends in app-driven entrepreneurship, the intersection of virality, AI, and app creation, the importance of systems and focus for founders, and the changing landscape of content creation for business.

Key Discussion Points & Insights

1. Starter Story—Origins and Acquisition

• Pat Walls shares his journey with Starter Story, a platform featuring founder case studies with transparent revenue, started out of frustration with his own entrepreneurial efforts.
• The business recently entered a sale with HubSpot—Pat details the emotional and psychological experience of negotiating and preparing for closure.
  • Quote: “I had a number in my head before any of this conversation happened... I wanted to be authentic in my negotiation.” —Pat Walls (01:17)
  • Regret: Even after hitting his number, Pat admits: “Do you feel any regret because you're like, oh, I got my number. I should have asked for more? Yeah, 100%.” (02:03)
• Differentiator: Public revenue metrics for case studies—originally inspired by Indie Hackers—proved key for user interest and research utility.

Timestamp: 00:21–05:32

2. The Unexpected Comeback of ‘Dumb’ iPhone Apps

• Pat reveals that a surprising number of founders are making significant revenue from simple iOS apps in 2026—an echo of the early App Store goldrush.
  • “When I talk to 12 founders a week, I'm seeing six of them are crushing it with iOS apps.” —Pat Walls (00:00, 06:17)
• Examples:
  • Push Scroll — Blocks social apps unless you do pushups (30k/month+).
  • Another app requires users to pray before opening TikTok.
  • Puff Count — Helps users quit vaping by tracking puff count and gamifying progress.
• The playbook: Instead of building first, test idea virality with TikTok/reels. Only build if the idea gains traction.
  • “They created the viral video first...then when it did, they scrambled to create the app. They were able to validate the idea through TikTok and then build it.” —Pat Walls (08:36)
• Why now?
  • AI-powered app creation reduces development friction—lone founders or small teams can build MVPs rapidly.
  • Discovery is driven by TikTok/short video, not App Store search or old-school influencer marketing.

Timestamp: 05:32–15:15

3. Apps as the New Info Products

• The panel reflects on how, similar to past info product booms (e-books, courses), apps are now low-barrier vehicles for digital entrepreneurship, thanks to AI and new forms of distribution.
  • “Apps are the new info products... it's actually a lot of people who like it... I want that life. I aspire to have that, like, I can make money anywhere, anytime, be on a beach type of lifestyle.” —Sam Parr (12:33–13:00)
• Old stories (Alan Wong’s 5-0 Police Scanner app), and new ones (fitness, tracking, or habit change apps), show that a single founder can build a high-margin business.
• Example: Calorie tracker built by high schooler Zach Calai, scaling from $30M to $70M+ ARR after going viral.

Timestamp: 12:33–16:09

4. Video and Content Creation for B2B & Beyond

• Pat highlights the current “wild west” in business video:
  • Demand from enterprises for authentic, engaging video is surging. No company-wide playbooks exist yet, unlike established functions for design or engineering.
  • “Video is now the native tongue of the Internet. If you can't make good video, it's like moving to America and not being able to speak English.” —Shaun (17:10)
  • Many companies or startups pay handsomely (e.g., $50k–$100k/month) for YouTube strategy and format-based video agencies.
• Key obstacles:
  • Fear/shame in being on camera keeps competition low, presenting opportunity for those willing to try.
  • Example businesses:
    • 'Man on the street' interview agency, potentially hitting $10M/year in revenue (23:21–23:26)
    • Done-for-you "podcast interviews" for corporate social clips.
• Pat shares his rigorous content prep system (treatments, outlines, titling before recording) as a differentiator over ad hoc approaches.
  • “I always try to think about the vibes and the feeling that the viewer will get. Why should this video exist?” —Pat Walls (26:02)

Timestamp: 16:12–28:42

5. Systems, Focus, and the Founder’s Journey

• Process over “busyness”:
  • Pat and hosts discuss the dangers of “urgency culture” and the virtue of building asynchronous, systematized companies.
    • “Busy people are the biggest losers...everything exists on a notion. All tasks that need to get done are simply assigned out to people.” —Pat Walls (31:40)
• Entrepreneurial OS:
  • EOS (Entrepreneur Operating System) is discussed as a flexible tool for managing growth, with caveats from Shaan on avoiding tool-chasing before product-market fit.
  • “The system manages your headache as you grow. That's how it's been for me, at least my personal experience.” —Shaun (38:32)
• The importance of focus:
  • Pat recounts a pivotal “think week” road trip that led him to jettison distractions and double down on Starter Story—doubling revenue in a month and setting up a path to eventual acquisition.
    • “I went all in on Starter Story. Best decision I ever made, obviously. I doubled the business’s revenue in a single month after that.” —Pat Walls (41:46–46:14)
  • “There's something that I like to call, you have your ego business...but actually, follow the money... What are you truly good at making?” —Pat Walls (44:26)

Timestamp: 28:42–47:14

Notable Quotes & Memorable Moments

• “You haven't made it if that [regret] doesn’t happen. That's the final stage. Maximum regret and then it turns to maximum relief when it's done.” —Shaun (02:05)
• “If they come, then we'll build it…I think it's the right way to do things now.” —Pat Walls (09:35)
• “99% of people would rather write an article or do something that doesn’t have to put themselves out there…that’s actually why YouTube will be a huge opportunity.” —Pat Walls (18:48)
• “If you get the value hypothesis wrong, there’s no company. If you get the value right, but the growth one wrong, you’ve built a very, very small business. If you get both right, you just have to be an idiot to not get the money part right at the end.” —Shaun (29:09)

Important Timestamps

• 00:21–05:32 — Pat’s background, Starter Story’s differentiating features, acquisition journey
• 06:08–16:09 — iPhone app resurgence, examples, virality-first strategy, impact of AI and TikTok
  • 08:36 — Reverse approach: viral video before product
  • 11:01 — Puff Count (anti-vaping) app, gamification
• 16:12–28:42 — Video as next business battleground (B2B angle), content systems, prep workflows
• 31:40–38:32 — Systems vs. busyness, asynchronous work culture, EOS pros/cons
• 41:46–47:14 — "Think week" breakthrough and the power of focus

Final Thoughts

This episode spotlights how technological shifts (AI, new discovery platforms) are reviving old opportunities (like simple iPhone apps), why virality and market validation can precede product development, and the persistent value of discipline, systems, and focus for founders. Pat’s journey offers both tactical playbooks and inspiration—especially for builders navigating the chaos between idea, product, and sustainable business.

Resources Mentioned:

• Starter Story (https://www.starterstory.com/)
• EOS / Traction by Gino Wickman
• App examples: Push Scroll, Puff Count
• Calorie tracker founder Zach Calai (Calai)
• Alan Wong (5-0 Radio/Police Scanner app)

Check out Starter Story on YouTube and all mentioned platforms for more founder insights.