The Most Overlooked Business Model on the Internet

On this episode of The AI Report, Liam Lawson is joined by Frey Chu—a directory builder, SEO educator, and creator focused on building long-term, high-leverage digital assets.

Frey shares how he builds directories that actually work, why so many fail to get traction, and how to combine AI workflows, structured data, and strong SEO fundamentals to make evergreen content that ranks and converts.

They discuss the real art of choosing a niche, when to enrich data manually vs programmatically, and why directories—when done right—are still one of the best internet business models available.

Also in this episode:

• What separates real directories from content farms

• How to validate a niche with Reddit and Ahrefs

• Why LLMs are forcing a rethink of “content quality”

• The pros and cons of exact-match domains

• Frey’s thoughts on time freedom, creative control, and building slow on purpose

If you’ve ever wanted to build a niche site, test an idea, or launch a project that runs without you, Frey’s approach will give you a grounded, tactical blueprint.

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Chapters:

(00:00) What Makes a Directory Valuable

(01:06) Ranking Local Queries With SEO

(02:34) The Difference Between Lists and Real Directories

(04:32) Why “Directory of Directories” Doesn’t Work

(05:36) Finding Balance Between SEO and Passion

(07:55) Evergreen Niches That Print Cashflow

(10:05) Reviewing His Portfolio: Hits and Experiments

(11:15) Why Directories Are Still Relevant

(12:19) LLMs and the Future of Structured Data

(13:38) Monetize First or Learn First?

(15:11) Validating Demand Without Guesswork

(16:35) Data Enrichment Strategies That Work

(17:54) Choosing the Right Stack for Directory Projects

(18:57) Quality Markers That Matter in 2025

(20:00) High-Consequence Niches With Real Need

(21:43) Feedback Loops and Iterating in Public

(23:03) Do Domains Still Influence Trust and Ranking?

(24:12) Frey’s Monetization Framework

(25:19) Getting Ready for the Next Phase of LLM SEO

(27:50) How Frey Keeps Learning and Evolving

(29:04) The People and Projects He’s Studying

(30:10) The Multi-Skill Nature of Directory Projects

(31:54) Long-Term Goals: SaaS, Marketplaces, and Time Freedom

(33:44) Why He’s Teaching Now

(35:52) Where to Find and Follow Frey