Idea
Build 'RigUp for nurse practitioners' on a fast-growing job
Sam pitches replicating RigUp (a ~$3B-valued staffing/tools marketplace for oil workers) for the fastest-growing US occupations. He'd target nurse practitioners, with other candidates being wind turbine techs, solar installers, and personal care aides.
“So RigUp, it already is huge. Um, only 2 or 3 years old, $3 billion valuation, I think. Raised money from Andreessen Horowitz. The idea is, um, they looked at oil workers. So oil workers, uh, I don't think you need a college degree, but you earn probably $100 grand a year. And so it's like oil workers, like the people who literally drill or partake in the drilling of oil.”
Steal thisPick a fast-growing blue-collar occupation and build the RigUp-style marketplace plus contractor tools for it.
Fact
Trucker turnover runs ~100% a year
Citing Planet Money, Sam notes trucking companies beg people to sign up because there's a shortage of truckers, and turnover is roughly 100% a year — the average new trucker quits within 6 to 12 months due to poor treatment.
“there's a deficit of truckers, people who want to become truckers, and the turnover rate is like 100% a year, right? So the average person will only work 6 to 12 months because they get treated horribly.”
Idea
Niche job boards: the oil field opportunity behind RigUp
Sam argues the oil field industry is an ideal job board niche: minimal education needed, tons of openings, and ~$100k salaries. RigUp built tools to attract these workers and charges companies on the back end, raising hundreds of millions from a16z at a multibillion-dollar valuation.
“One thing that's incredibly interesting, and I said this was interesting a few months ago, was the oil field industry. The reason why that's interesting is you can have minimal education. I don't think you need a bachelor's degree. There's a whole bunch of those jobs available and the salary is like $100 grand. That's amazing. So high amount of supply, huge demand, pretty good salary.”
Steal thisBuild a vertical job board for a high-supply, high-demand, decent-salary trade and monetize the employer side.
Idea
Niche job boards: the oil field opportunity behind RigUp
Sam argues the oil field industry is an ideal job board niche: minimal education needed, tons of openings, and ~$100k salaries. RigUp built tools to attract these workers and charges companies on the back end, raising hundreds of millions from a16z at a multibillion-dollar valuation.
“One thing that's incredibly interesting, and I said this was interesting a few months ago, was the oil field industry. The reason why that's interesting is you can have minimal education. I don't think you need a bachelor's degree. There's a whole bunch of those jobs available and the salary is like $100 grand. That's amazing. So high amount of supply, huge demand, pretty good salary.”
Steal thisBuild a vertical job board for a high-supply, high-demand, decent-salary trade and monetize the employer side.