Dayo: Get Paid to Stay Off Social Media

In this episode of The Business Gay Podcast, host Calan Breckon speaks with Co-founder and CEO of Dayo, Corey Scholibo. Dayo is the first-ever mental health company that pays people to stay off social media. Corey recently sold his last venture Wile, a plant-powered, naturopathic, wellness brand for peri-menopause and midlife, where he served as Co-Founder, President and CEO. A seasoned entrepreneur, Corey is also the co-founder and former CMO of Repurpose, the leading brand of compostable tableware in retail, and has advised and worked with brands like Tiffany & Co, M.A.C. Cosmetics, Indiegogo, and Caboo. Corey likes to start businesses that help the environment, create visibility and markets for underserved and excluded demographics, and change human behaviour for the better. Watch on YouTube --- ► Today’s Sponsor is QuickBooks - Bookkeeping Made Simple Join the email list for news and updates --- Links mentioned in this episode: Dayo.co Corey Scholibo on LinkedIn --- Key Takeaways for quick navigation: [00:29] Corey Scholibo discusses his drive as a serial entrepreneur to address underlying issues in society. [02:46] Corey co-founded a company called Repurpose to reduce plastic usage, highlighting the importance of addressing environmental issues. [04:52] A focus on women's health and empowerment led to creating solutions for menopause and its impact on society. [05:20] Corey's current focus is on the attention economy and the negative impact of social media on mental health, democracy, and the climate. [09:56] Discussing navigating exits, Corey emphasizes the importance of understanding liabilities and protections during the process. [14:06] Corey Scholibo introduces "Dayo,” an AI-powered app incentivizing users to limit social media use by earning rewards for staying offline. [19:47] Social media is designed with powerful tools like infinite scroll to hook users [21:54] Rewarding good behaviour on social media is more effective than chastising bad behaviour [23:41] Dayo aims to change social behaviour and address mental health impacts of excessive social media use [25:35] Dayo will include challenges and incentives for positive social interactions