The people on this list fixed problems and became rich in the process of daring to change the world for the better.
Everybody has a billion-dollar idea in their head. They just don’t think it’s good enough to act on it. But fixing widespread problems is what will make you rich.
So fix these problems if you want to be rich!
Don’t worry if you don’t feel like reading, you can enjoy the video below or watch it on YouTube:
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Problem #1 – The Constant Need For Better Communication
Back in the day, socializing was all about landline phones and ”snail mail.”
Then boom, the internet happened! But still, something was missing.
Mark Zuckerberg, a college kid who was like, “Hey, wouldn’t it be cool if we could all stay connected online?”
And that’s how Meta, formerly known as Facebook, was born.
It started as this little thing just for college students. And now, it’s this mega-giant where people post cat memes, sell stuff, and have endless and sometimes pointless debates.
Zuck didn’t just hit the jackpot; he disrupted the way we socially interact on a daily basis.
And now, Meta has become an enormous tech conglomerate that owns multiple platforms, including WhatsApp and Instagram, and they are getting ready to launch their Twitter-like platform.
The problem of lacking communication made Zuc a billionaire, and it will continue to make others in the future.
The only question is, Who is going to come up with the next big thing?
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Problem #2 – Lack of Convenient Transportation
Have you ever tried hailing a cab in the pouring rain? Yeah, not fun.
Travis Kalanick and Garrett Camp had the same struggle and knew instantly that somebody had to fix it.
That lightbulb moment led to the creation of Uber, the app that lets you order private cabs just like the rich. These guys literally transformed how we get around.
Who needs to own a car when you can just tap a screen and have someone drive you around?
Not to mention the side hustle it offers. Need some extra cash? Just start driving people places.
Uber turned Travis and Garrett into billionaires because they found demand and were quick to satisfy it.
Back in the day, only the ultra-wealthy used to afford a personal driver, now this kind of service is at your fingertips.
And the founders deserve all the billions in the world for that.
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Problem #3 – Payment Inefficiencies
Only 70s kids will remember this, but imagine the following: You want to buy some cool stuff online, but sending a check in the mail is so last century.
And wiring money? Total pain in the rear. Elon Musk and his business partners were like, “Let’s make this easier.”
They came up with PayPal, and suddenly, sending money was as easy as sending a text. You could buy, sell, and trade without ever touching cash.
PayPal was such a game-changer that Elon Musk sold his share of it for $175.8 million in 2002 when it was sold to eBay.
That was a crucial moment in Elon’s career because, after this exit, he was able to reinvest his money into other ventures, which over time made him the richest person in the world.
Payment services will continue to improve in the future, so this market will always be open to new disruptions.
People don’t like to wait for their money to arrive in their bank accounts, that’s why some people love crypto.
And a world where secure and instant money transfers are closer than you think. The upcoming innovations will surely spawn a new generation of billionaires.
Will you be one of them?
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Problem #4 – Inefficient Traditional Retail
Jeff Bezos looked at the traditional retail market and saw a ton of inefficiencies.
People had to drive to stores, walk through aisles, and wait in lines. It wasn’t exactly the epitome of convenience.
With a vision in mind, Bezos created Amazon as an online bookstore. However, he didn’t stop there.
Amazon quickly expanded into selling practically everything. We’re talking gadgets, groceries, and even garden gnomes.
Moreover, with just a few clicks, you could have anything delivered to your doorstep.
Jeff Bezos solved the problem of inefficient retail and made billionaire status in the process.
It’s almost hard to imagine a world without Amazon nowadays.
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Problem #5 – Software Inaccessibility
In the early days of computers, software wasn’t exactly user-friendly.
That was until people like Bill Gates and Steve Jobs came along.
Gates co-founded Microsoft with the goal of making software accessible and useful for everyone, not just the tech-savvy.
Microsoft’s Windows operating system was a game-changer. People could now interact with computers using icons and a mouse, rather than typing out complex commands.
This made computers much more approachable for the average person.
Microsoft didn’t just stop at operating systems, though. They branched into productivity software, gaming, and more.
In time, Bill Gates became one of the wealthiest individuals on the planet, and Microsoft became synonymous with personal computing.
Things that we take for granted and use every day—every billion-dollar idea—rest on this kind of demand.
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Problem #6 – Lack of Online Video Content
Before YouTube, sharing cat videos online was a bit of a hassle.
File sizes were massive, and there weren’t really any dedicated platforms for it.
This is where Steve Chen, Chad Hurley, and Jawed Karim stepped in.
They came up with YouTube, a website where anyone could upload and share videos.
It started out small but quickly exploded in popularity. From cat videos to vlogs, and educational content to entertainment, YouTube had it all.
Google noticed this and decided to acquire YouTube, making the trio very, very wealthy.
YouTube has since become a cultural phenomenon, giving rise to a new generation of content creators and even changing how we consume media.
122 million people use YouTube every single day, and monthly, we are talking about 2.1 billion active users.
That’s 26% of the global population using the same platform. No wonder YouTube has made so many people insanely rich.
YouTube fixed the problem of curated entertainment and became filthy rich in the process.
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Problem #7 – High Cost of Space Travel
We already talked about Elon, but he has his hands in so many industries that it’s hard not to mention him over and over again.
After so many failed space missions by NASA, Elon realized that space travel was insanely expensive and inaccessible.
A ”challenge accepted” moment happened soon after.
With SpaceX, his goal is to reduce the cost of getting to space and, ultimately, make it possible for humans to live on other planets.
This isn’t just about launching rockets, though. It is about revolutionizing space technology.
SpaceX developed the Falcon and Dragon spacecraft, which were designed to be reusable, a huge step in reducing costs.
Now, SpaceX is a key player in the space industry, launching satellites, resupplying the International Space Station, and developing the Starship for Mars colonization.
You might want to pay attention to this because once the technology is good enough, an arms race to colonize space will start.
And we might see this happening in the next few decades.
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Problem #8 – Limited Access to Global Markets for Small Businesses and Consumers
In China, before the advent of Alibaba, small businesses had limited access to global markets. And consumers didn’t have a lot of options for buying products, especially from international sellers.
Jack Ma, who had a vision of opening up the Chinese market to the world, founded Alibaba.
Alibaba.com became a go-to platform for businesses around the world to source products directly from manufacturers, typically at lower prices.
This was groundbreaking, especially for small businesses. Even so, Jack Ma didn’t stop there.
Under the umbrella of Alibaba Group, he also launched Taobao. It caters to individual consumers, and Tmall, which is geared towards higher-end branded products.
Through these platforms, consumers in both China and around the world got access to a plethora of products, both domestic and international.
Alibaba’s success didn’t just create a more connected marketplace in China. It changed global trade.
In conclusion, Jack Ma’s empire flourished, making him one of the wealthiest and most influential figures in the business world.
9
Difficulty in Online Selling for Small Businesses
Back in the late 1990s, if you were a small business or an individual looking to sell something online, your options were pretty limited.
Pierre Omidyar, a computer programmer, spotted this gap and created eBay as a side project.
Little did he know that his online auction site would take the world by storm.
eBay democratized online selling, allowing anyone to auction off items to the highest bidder.
It was not just a marketplace; it became a community.
Whether you were looking to sell a rare collectible or find a vintage piece, eBay was the place to be.
Omidyar’s simple idea to solve the online auction problem made him a billionaire and changed the face of e-commerce forever.
10
Inefficient Hospitality Industry
Brian Chesky, Nathan Blecharczyk, and Joe Gebbia came up with a brilliant idea when they realized how difficult and expensive it was to find accommodations while traveling.
Now, the problem that made these three billionaires is that hotels were often overbooked or way too pricey.
They thought, “What if people could rent out their own spaces to travelers?”
Soon after, Airbnb was born, allowing individuals to list their homes, apartments, or even just a room for short-term rentals.
This didn’t just shake up the hospitality industry, it turned it on its head.
Ultimately, Airbnb has made travel more accessible and authentic for many and, in the process, fixed the hospitality problem while becoming rich.
11
Complexity and high fees in Financial Trading
Stock trading was once seen as something only the wealthy or financial experts could participate in.
Vlad Tenev and Baiju Bhatt decided to challenge this notion with their app, Robinhood.
They aimed to democratize finance and make stock trading accessible to everyone, regardless of their financial background.
Robinhood’s app was a hit, offering commission-free trades and a user-friendly interface.
Suddenly, everyday people were empowered to invest in the stock market.
Vlad and Baiju’s vision to simplify stock trading not only disrupted the financial industry but also amassed them a fortune.
12
Limited Access to Education
Education is crucial, but not everyone has access to affordable and quality learning resources.
That’s where entrepreneurs like Daphne Koller and Andrew Ng stepped in with Coursera.
They wanted to make education more accessible by offering courses from top universities online, often for free or at a low cost.
This opened up a world of opportunities for people who might not have the means or ability to attend traditional educational institutions.
Similarly, Eren Bali co-founded Udemy, another platform that allows experts to create courses on various topics.
These Edtech platforms, besides solving the pressing education problem, also made their founders billionaires.
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13
Cybersecurity Threats
Nir Zuk saw an opportunity in a world where cyber threats are a growing concern.
He realized that as technology advanced, so did the sophistication of cyber-attacks.
Companies and individuals needed better protection.
That’s when Nir Zuk founded Palo Alto Networks.
His company focused on next-generation firewalls and security solutions that could keep up with the ever-evolving landscape of cyber threats.
Nir Zuk’s innovation in cybersecurity didn’t just make the digital world safer, it also made him a billionaire. Yet another confirmation that fixing widespread problems makes you rich.
His success is proof that solving pressing issues in the tech world can be both beneficial to society and lucrative.
14
Inaccessibility of DNA Sequencing
Before the 2000s, DNA sequencing was an incredibly expensive and time-consuming process.
It was virtually inaccessible to the average person, and its potential for personalized medicine was untapped.
Anne Wojcicki, along with Linda Avey and Paul Cusenza, saw an opportunity in making DNA sequencing accessible to consumers.
They co-founded 23andMe with the goal of helping people understand and explore their own genetic makeup.
Through a simple saliva test, 23andMe provides insights into ancestry, genetic traits, and potential health risks.
This innovation not only empowered individuals to learn more about their genetics but also made Anne Wojcicki one of the most prominent figures in consumer healthcare.
23andMe’s success in making DNA testing accessible to the masses is an excellent example of how addressing a need in healthcare can lead to significant entrepreneurial success.
15
Sustainable Energy challenges
The world has been facing an energy crisis, and Elon Musk (yes, him again) decided to tackle this head-on with Tesla.
He wanted to prove that electric vehicles (EVs) could be better, quicker, and more fun to drive than gasoline cars.
But Tesla is more than just a car company, that’s a misconception.
It’s a technology and energy company. From battery storage to solar products, Tesla is at the forefront of sustainable energy solutions.
Elon Musk’s vision for a sustainable energy future is not only helping to combat climate change but has also established him as one of the most influential tech entrepreneurs of the 21st century.
And who knows? Maybe in the near future, everyone will own an electric car.
As a conclusion, there are a lot of challenges along the way, and enough meat is on the bone for more future billionaires to chew on.
Now you understand that you need to fix problems if you want to be rich. As it stands, the basics of any business should be solving a real problem for as a wide beach of people as possible. See you next time!
