Fast to Shut Down This Week

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Fast.com to shut down this week and we just have to go through the timeline here. Fast raises 2.5 million Dollar seed at an 11 million dollar valuation in 2019 2020 There raised 20 million at 150 million dollar valuation by stripe Which apparently is making a mafia bet according to ryan breslow to create a competitor to a bolt September fast lunches. It's one click check out with select merchants quote unquote and does this do I come I'm sorry, september 2020 they do that's too much. They lost 25 dollars on each loss leader loss leader it's a loss leader like the Costco hot dog or the roast chicken.

First, Ben Gilbert and David Rosenthal from Acquired join Jason to talk portfolio construction (13:41), Roelof Botha succeeding Doug Leone at Sequoia (30:58), and to debate the takeaway from Fast's demise (52:22). Then Lon Harris from Inside Streaming joins to discuss the final two episodes of The Dropout (1:24:16)!

(00:00) Jason intros today’s show
(1:31) Catching up w/ the http://acquired.fm guys: David Rosenthal and Ben Gilbert
(12:25) Fiverr - Sign up for https://Fiverr.com/Business free for the first year and save 10% on your purchase with promo code JASON
(13:41) Ben on investing in tech
(21:39) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist
(22:46) How David thinks about his capital allocation
(29:41) Notion - Get started for free at https://notion.com/thisweekinstartups
(30:58) Talking about Doug Leone’s retirement
(52:22) Talking about the elephant in the room: Fast.co shutdown
(1:24:16) Talking with Lon Harris about the finale of “The Dropout”

Check out Acquired: https://www.acquired.fm

FOLLOW Acquired:
https://twitter.com/gilbert
https://twitter.com/djrosent
https://twitter.com/AcquiredFM

FOLLOW Lon: https://twitter.com/lons

FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood