Challenges of Recommendations and the Need for Reliable Platforms

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In this chapter, the speakers discuss the concept of recommendations and their applicability in various aspects of life. They explore the absence of reliable recommendations for professions like doctors and engineers and speculate on why social media platforms have not implemented trustworthy service provider recommendations. The chapter concludes with a discussion on the importance of finding reliable healthcare professionals and the potential benefits of a platform providing additional information.

In today’s episode, Erik Torenberg sits down with Auren Hoffman, CEO of SafeGraph, to discuss all things data business like building around products, selling horizontal data, second party data sharing, and much more.

Media Empires is part of the Turpentine podcast network. To learn more: www.turpentine.co

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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LINKS:

SafeGraph: https://www.safegraph.com/

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Apple: https://podcasts.apple.com/podcast/id1696419056

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(00:00) Episode Preview

(01:09) What ties Auren's businesses together

(03:00) The importance of market share and declining CACs

(03:39) Challenges & types of data businesses

(05:00) Selling horizontal data

(05:40) People, places, organizations, and products

(10:12) Methods for sourcing and verifying data

(14:48) Potential of building data businesses around products

(16:21) The nuances in recommendations for people and products

(26:46) LinkedIn’s success and disappointments

(33:09) Windfall data and net worth

(34:27) Reputation and bias

(37:32) Challenges & potential for social recommendations

(42:10) Improving the user experience of LinkedIn

(47:12) Crossbeam & second party data sharing

(49:14) DSL Co-op & aggregating general ledger data

(50:41) Building a reputation database

(51:50) NDA network

(53:01) Software businesses masquerading as services businesses

(55:24) Incubators & structuring ownership

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X / Twitter:

Auren Hoffman: @auren

Erik's Twitter: @eriktorenberg

Media Empires: @mediaempirespod

Turpentine: @turpentinemedia

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