13. The Art of the Pivot with Andrew McConnell

The Evolution and Future of Online MarketPlaces: A Conversation with Andrew McConnell

 

Andrew McConnell, serial entrepreneur with a background in consulting and a positive outlook on life, discusses his journey starting from law school, his shift to consulting and his ventures in the online marketplace sector, namely Vacation Futures, Rented.com and his yet to launch healthspan focused startup. Andrew pivoted several times, chasing potential growth and adjusting as per investor expectations. He talks extensively about the growth trajectories, challenges and pivots of global platforms like Airbnb and VRBO. Andrew contends that marketplaces must constantly evolve to maintain balance and compete in the ever-changing landscape. He also shares insights on new market trends enabled by Airbnb in creating travel demands around unique accommodations. Andrew concludes with his latest venture, aiming to make healthspan improvement a priority for people.

 

00:00 Introduction and Guest Background

00:32 Journey into Law and Consulting

02:36 Transition from Law to Business Consulting

05:16 Exploring the Vacation Rental Industry

07:19 Birth of Vacation Futures

09:48 Evolution into Rented Capital

13:33 Advent of Dynamic Pricing in Vacation Rentals

14:42 Acquisition by Travelnet and Future Prospects

16:17 Transitioning to a Software as a Service (SaaS) Platform

16:43 Targeting Professional Vacation Rental Managers

17:43 Understanding the Competition in the Vacation Rental Space

18:02 The Evolution and Growth of Vacation Rental Companies

19:01 The Fate of Vacation Futures and Rented.com

20:50 Launching a New Venture in the Healthspan Space

24:34 Understanding the Challenges of Continuous Growth in Business

25:31 The Pivots and Growth of Airbnb and VRBO

32:35 The Challenges and Dynamics of Building Marketplaces

32:41 Lightning Round: Personal Insights and Aspirations