Reflections on the Lehman Brothers Collapse

A personal narrative of someone who experienced the Lehman Brothers bankruptcy in 2008, detailing the lead-up to the event and the aftermath, including finding buyers for the business divisions. The chapter also explores the post-collapse experiences of individuals, showcasing the strength of the network formed during the challenging times.

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In this episode, CJ interviews Chuck Fisher, CFO of Turo, the world’s largest peer-to-peer car rental marketplace, doing more than $800 million in revenue per year. Chuck breaks down the company’s business model, what separates it from traditional car rental companies, and how it differs from marketplaces like Airbnb and Uber. He explains how Turo helps people build micro businesses and sheds light on the company’s total addressable market and why it shouldn’t be compared to its offline analog. He also talks about the company’s take rate, what substantiates it, and the benefits you may reap from keeping the take rate as low as possible, including the story about Turo’s own success in 2021. Chuck describes Turo’s Risk Score system, the data used in this, and how they use this information to market back to the best prospective customer. He also shares his firsthand account of the fall of Lehman Brothers and what he took away from it.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(03:14) Sponsor - Maxio | NetSuite

(05:59) The Business Model of Turo

(10:59) The Sign of a Healthy Marketplace

(13:31) Turo Vs Airbnb Vs Uber

(16:58) Sponsor - Mercury | Leapfin

(18:54) Turo’s Total Addressable Market

(25:16) Why Marketplaces Shouldn’t Be Compared to Offline Analogs