How much it costs to make $10M on the app store

Key Concepts:

• App Store Revenue Generation
• Startup Tech Stack
• Figma (UI Design)
• Cursor (Code Editor)
• Caput (Unspecified - likely a tool or service)
• Mercury (Startup Banking Platform)
• Upwork (Freelance Platform)
• React Native (Mobile App Development)
• NodeJS (Backend Development)

Startup Tech Stack and Tools

The speaker outlines their tech stack used in the process of generating $10 million on the App Store. The stack includes:

• Figma: Used for UI design.
• Cursor: Used as a code editor.
• Caput: Mentioned but without specific details on its function. It's likely a tool or service used in their workflow.
• Mercury: Highlighted as the best platform for startup banking in the US. The speaker emphasizes its importance.
• Upwork: Used for occasional contracted work. The speaker recommends a specific hiring strategy on Upwork.
• React Native: Used as the coding language for mobile app development.
• NodeJS: Used as the coding language for backend development.

Upwork Hiring Strategy

The speaker details a specific strategy for hiring freelancers on Upwork:

1. Initial Screening: Hire 5-10 freelancers for a small task (1-2 hours of work).
2. Evaluation: Assess the quality of work and communication skills of each freelancer.
3. Selection: Choose the best freelancer based on the evaluation.
4. Long-Term Engagement: Continue working with the selected freelancer for larger projects.

The speaker claims this method is effective for finding high-quality contractors.

Coding Languages

The speaker uses React Native and NodeJS for development. React Native is used for building cross-platform mobile applications, while NodeJS is used for server-side development. The speaker describes these choices as "pretty straightforward" and "nothing special," suggesting they are standard technologies for app development.

Conclusion

The speaker provides a brief overview of the tools and technologies used to generate $10 million on the App Store. The key takeaways are the importance of a solid tech stack, a strategic approach to hiring freelancers, and the use of standard coding languages for app development. The speaker emphasizes the value of Mercury for startup banking and the effectiveness of their Upwork hiring method.