Marc Lore, a serial entrepreneur known for launching Diapers.com and Jet.com, lends his expertise as he discusses strategic pivots with fellow founders. Ben Bailey shares the challenges of rising cocoa prices at Chomp Chocolate, while Ryan Thompson considers national expansion for his whiskey brand Tenth Mountain. Lore emphasizes adaptability in business and provides insights on market strategies that cater to consumer needs, highlighting the importance of finding the right talent and making informed decisions in a competitive landscape.
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question_answer ANECDOTE
Diapers.com Acquisition
Marc Lore founded Diapers.com, which was later acquired by Amazon for over half a billion dollars.
Despite the successful exit, Lore had mixed feelings as his vision for the company was cut short.
question_answer ANECDOTE
Jet.com and Wonder
After Diapers.com, Lore launched Jet.com to compete with Amazon, selling it to Walmart for over $3 billion.
Wonder, his latest venture, initially involved food trucks with full kitchens, but pivoted to a brick-and-mortar model.
volunteer_activism ADVICE
Pivoting and Risk Assessment
Objectively assess the risk of maintaining the status quo, not just the risk of change.
Be open to pivoting, even if it means admitting past mistakes, when you see a better opportunity.
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Serial entrepreneur and U.S. National Bobsled Team qualifier Marc Lore joins Guy on the Advice Line, where they answer questions from three early stage founders. Marc also discusses his latest venture - Wonder - and its recent shift away from food prep and delivery vans; plus, what founders should consider when making their own strategic pivots.
First we meet Ben in Oregon, who’s wondering if his chocolate factory should double down on an experiential offering in light of increased cocoa prices. Then Lindsey in Utah, who’s looking for ways to convince retailers to carry her portable diaper kits. And Ryan in Colorado, who’s weighing whether to focus on national expansion for his whiskey brand, or deepening market penetration in the Rockies.
Thank you to the founders of Chomp Chocolate, Baby a GoGo and 10th Mountain Whiskey and Spirit Company for being part of the show.
If you’d like to be featured on a future Advice Line episode, leave us a one minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
How I Built This with Guy Raz 
