"hey everybody it's Eric torberg co-founder partner of Village Global a network driven Venture firm and this is vure stories a podcast covering topics relating to Tech and business with World leading e..."

"hey everybody it's Eric torberg co-founder partner of Village Global a network driven Venture firm and this is vure stories a podcast covering topics relating to Tech and business with World leading e..."

"podcast thanks as always good to be here so we're here to talk about marketplaces why don't we start with a brief background on your personal history with marketplaces why are you so excited about mar..."

"thanks as always good to be here so we're here to talk about marketplaces why don't we start with a brief background on your personal history with marketplaces why are you so excited about marketplace..."

"in it um and and love the space awesome yeah I mean I think I've always been a student of network effects and when I was you know at besser a lot of the network effects that we focused on and invested..."

"in it um and and love the space awesome yeah I mean I think I've always been a student of network effects and when I was you know at besser a lot of the network effects that we focused on and invested..."

"has quite the the history uh with marketplaces you know eBay being really the first kind of consumer Marketplace uh and one of the early Investments that that Benchmark made not to mention you know Ub..."

"marketplace and so when I joined Benchmark you know obviously Benchmark has quite the the history uh with marketplaces you know eBay being really the first kind of consumer Marketplace uh and one of t..."

"the right kind of net profit profiles yeah I mean just to build on that like one one thing I've been thinking about a lot is that you know it it felt like the first wave of a lot of startups that um t..."

"the right kind of net profit profiles yeah I mean just to build on that like one one thing I've been thinking about a lot is that you know it it felt like the first wave of a lot of startups that um t..."

"yet yeah is that sort of uh represent sort of a shift from horizontal to more vertical marketplaces I definitely I I think we're seeing a lot of that I also think you know I I don't know about you I s..."

"yet yeah is that sort of uh represent sort of a shift from horizontal to more vertical marketplaces I definitely I I think we're seeing a lot of that I also think you know I I don't know about you I s..."

"people missed at the time was that it wasn't what was magical about Uber was not just they create a 10x better product but that they use technology to recast cost structures and provide that better pr..."

"people missed at the time was that it wasn't what was magical about Uber was not just they create a 10x better product but that they use technology to recast cost structures and provide that better pr..."

"yeah so um you talked about frequencies say more guys about what you uh what makes great Marketplace Great Marketplace business what are the kpis that you evaluate or when you sort of you know evaluat..."

"yeah so um you talked about frequencies say more guys about what you uh what makes great Marketplace Great Marketplace business what are the kpis that you evaluate or when you sort of you know evaluat..."

"is describe to me like you know who is the person that's transacting right now that's getting the most value out of your out of your marketplace right now and really trying to understand what that loo..."

"so like in terms of like a look for I find myself always trying to really understand what the red hot Center is of of a Marketplace and you know I think one of the things that I see a lot of entrepren..."

"Center uh and and being less oriented towards the kind of bigger picture numbers so how did you get the conviction on on hip Camp I'm curious because it doesn't seem like you know Uber is a thing that..."

"that you know in particular in areas where it's so easy for competitors to come in uh to find like something that other people easily Overlook and and by the way I made the mistake I met Alyssa for th..."

"company and then as I kind of kept in touch with Alyssa and and you know we would talk product every once in a while uh I started to realize a few things which is one that she had figured out how to u..."

"such a strong signal in a marketplace where like there's something there's a supply base that hasn't been put online and as she did bring it online it unlocked demand like there was demand there that ..."

"wrapping it like or less sensitive to The Tam calculus in the beginning cuz just believe that with the right Founders they'll keep on unlocking new opportunity yeah my my quick shout out to Alysa is t..."

"wrapping it like or less sensitive to The Tam calculus in the beginning cuz just believe that with the right Founders they'll keep on unlocking new opportunity yeah my my quick shout out to Alysa is t..."

"some associate uh Excel spread sheeet their way into and uh and so you know on our side I think you know we're an investor in a company called Cameo which is a Marketplace between uh consumers and cel..."

"some associate uh Excel spread sheeet their way into and uh and so you know on our side I think you know we're an investor in a company called Cameo which is a Marketplace between uh consumers and cel..."

"wasn't homeschooled but I've talked to people who were and like and and I we see this all the time on Pinterest like education was a huge vertical on Pinterest and like people were always posting the ..."

"wasn't homeschooled but I've talked to people who were and like and and I we see this all the time on Pinterest like education was a huge vertical on Pinterest and like people were always posting the ..."

"that need most acutely right Child Care is maybe another example have you looked at child care marketpl yeah that one's tough that's one's tougher and um it's tough you talk about child care because i..."

"that need most acutely right Child Care is maybe another example have you looked at child care marketpl yeah that one's tough that's one's tougher and um it's tough you talk about child care because i..."

"Supply it's the same thing with um with dayc carees there's been a bunch of um companies that have come into the space and it's absolutely a huge there's like a huge imbalance between supply and deman..."

"Supply it's the same thing with um with dayc carees there's been a bunch of um companies that have come into the space and it's absolutely a huge there's like a huge imbalance between supply and deman..."

"now oh now you're you're digging everything up for me Eric right now so I I looked at the seed or the a for thumb teac yeah 50 VC's pass on thumb te at the a so Marco is fantastic I actually I joke th..."

"now oh now you're you're digging everything up for me Eric right now so I I looked at the seed or the a for thumb teac yeah 50 VC's pass on thumb te at the a so Marco is fantastic I actually I joke th..."

"founder is actually uh the right person to do that the red flag would actually be a Founder conversation at the seed where they're not uncovering the grizzly horrible things about their business becau..."

"to do that the red flag would actually be a Founder conversation at the seed where they're not uncovering the grizzly horrible things about their business because we all know that an early stage compa..."

"always what I'm looking for is the founder that approaches building a marketplace with the systems level thinking and the cleverness that you need in order to solve two problems at the same time with ..."

"always what I'm looking for is the founder that approaches building a marketplace with the systems level thinking and the cleverness that you need in order to solve two problems at the same time with ..."

"dig dig around for and am excited by is companies that are unbundling LinkedIn in some way and and and approaching it in a different are there a different kind of Dimension or a different vertical wit..."

"dig dig around for and am excited by is companies that are unbundling LinkedIn in some way and and and approaching it in a different are there a different kind of Dimension or a different vertical wit..."

"other area by the way I just healthc care has been so hard the problem that we've had looking at healthcare for quite some time is that it feels like first of all it's highly regulated industry we hav..."

"other area by the way I just healthc care has been so hard the problem that we've had looking at healthcare for quite some time is that it feels like first of all it's highly regulated industry we hav..."

"that's exactly right like there's the bar gets a lot higher in an industry where like lives are at stake in that way and so it's it's sort of like there was a a cast of startups that went after um kin..."

"that's exactly right like there's the bar gets a lot higher in an industry where like lives are at stake in that way and so it's it's sort of like there was a a cast of startups that went after um kin..."

"hard so far do you have a sense and maybe this is the wrong way to think about what like the iPhone moment in healthcare could be or what what is sort of the moment where all these sorts of you know g..."

"hard so far do you have a sense and maybe this is the wrong way to think about what like the iPhone moment in healthcare could be or what what is sort of the moment where all these sorts of you know g..."

"and I think that's where we are in healthcare you know when you have Medicare pricing being set by the government and therefore like that flows into the entire rest of the business and so many of the ..."

"and I think that's where we are in healthcare you know when you have Medicare pricing being set by the government and therefore like that flows into the entire rest of the business and so many of the ..."

"and so you need to have a solution for them when they're sitting there at their computers and and create a great experience I think what Amazon going from online to offline in the Whole Foods example ..."

"and so you need to have a solution for them when they're sitting there at their computers and and create a great experience I think what Amazon going from online to offline in the Whole Foods example ..."

"find your customers and if they're offline that's great if uh I mean arguably the only new customer acquisition Channel um is probably like online influencers uh has been the one area where there's be..."

"find your customers and if they're offline that's great if uh I mean arguably the only new customer acquisition Channel um is probably like online influencers uh has been the one area where there's be..."

"supposed to be run over the last 20 years but eBay is not a loan Marketplace Amazon marketplaces it's a majority of Amazon's business uh you just go down the list actually you can't I don't think you ..."

"supposed to be run over the last 20 years but eBay is not a loan Marketplace Amazon marketplaces it's a majority of Amazon's business uh you just go down the list actually you can't I don't think you ..."

"think it was naspers or shipstead that had this graph that they posted where they talk about where they show empirically that the further ahead the number one is from the number two and this was for c..."

"most penetration there was actually I think it was naspers or shipstead that had this graph that they posted where they talk about where they show empirically that the further ahead the number one is ..."

"this in the case of the Food Services business and you look at food delivery delivery has London um it's no secret that the the ball workor for Postmates is the Los Angeles area where they're wildly p..."

"this in the case of the Food Services business and you look at food delivery delivery has London um it's no secret that the the ball workor for Postmates is the Los Angeles area where they're wildly p..."

"burritos for two different places that happen to be located nearby each other and it turned out that we were off by a couple of years and in fact what GrubHub is seeing right now is they're trying to ..."

"and it turned out that we were off by a couple of years and in fact what GrubHub is seeing right now is they're trying to expand and it seems like they're determined to try and take the entire industr..."

"talk about uh delivery know there was a company in Canada uh called skip the dishes and skip the dishes like you know just incredible Founders uh was acquired by just eat and the thing that they did w..."

"then there was the the risk of counterfeits and and kind of a breakdown of trust and what what goat was able to do so well in particular in order to create this vertical was you know the the trust and..."

"to manage uh reduceing frequency you're talking about being in a third tier City you don't have as much density the issue is you're going to have a frequency problem and you can solve that ideally by ..."

"30 minute drives and you're at what scale you finally get to the point where you get any kind of real liquidity in the business and real leverage in the business I so I haven't spoken to them for a fe..."

"you're solving very much do you have any Frameworks for what real liquidity looks like where people know they have it think they have it don't no I think about it it's actually such an interesting que..."

"longer and unfortunately we're like in a decade long cycle where already private equity and later and later stage funding is keeping these companies private longer and longer which is keeping the publ..."

"just mean that companies will who still want to grow and feel like the public markets aren't going to allow them to grow publicly are just going to stay private yeah it's like you have this this chall..."

"cost of their own unit economics the marginal cost to acquire that next that next user um but the second thing and I and I and I think about this a lot is just I I believe that there's you know this w..."

"really tough to do and so it's it's not to say it can't happen or it won't happen like to nabil's point there's a lot of businesses that that you know are very disciplined about their un economics and..."

"and I and I think about this a lot is just I I believe that there's you know this wheel that when you're operating a business you can turn the wheel towards growth or you can turn the wheel towards pr..."

"say the quiet thing out loud here which is that softbank's a bad actor in the space and has encouraged people to be more Reckless as they grow I don't actually think I think that's endemic of the enti..."

"too we're really close to dying and at certain points at certain points there was one round where the market wasn't trending their way something hadn't turned out and they had a really hard time fundr..."

"into the physical world we've settled For Worse margins and we started have this question of what's a tech company what's not a tech company so I'll ask Nabil what's your what's your hot take on wewor..."

"not obvious mistakes that you see Founders make that you you know they should be thoughtful of the biggest one is just what I what I um mentioned before which is it it's so easy to get lost in wanting..."

"point and you know what you measure matters like everybody thinks about oh if I if I measure it'll improve and that's true but man if you're measuring the wrong thing you're going to miss the real hea..."