This Week in Startups E986: StockX Co-founder Josh Luber is building a stock market for things, shares insights on the two cultural shifts that brought sneaker culture mainstream, attracting Mark Wahlberg, Eminem & Steve Aoki to invest along with Google Ventures & Marc Benioff & growing a unicorn out of a sneaker-data si
Oct 11, 2019
Josh Luber, Co-founder of StockX and a sneaker market innovator, dives deep into the explosive sneaker culture's evolution from casual wear to coveted collectibles. He shares insights on the influence of celebrities like Michael Jordan and Kanye West, and how their endorsements transformed sneaker ownership into a status symbol. Luber discusses attracting high-profile investors, the importance of authenticity in the resale market, and innovative ideas like Initial Product Offerings for sneakers, painting a vivid picture of the future of sneaker trading.
AI Snips
Chapters
Transcript
Episode notes
Sneaker Economics
- Sneaker reselling is driven by artificial scarcity created by brands like Nike.
- This basic supply and demand principle allows for an aftermarket where shoes can be resold at higher prices.
Market Growth
- The sneaker resale market exploded due to two main factors: the internet (eBay) and social media (Instagram).
- These platforms broadened access and increased visibility, fueling demand and creating a global market.
Courtside Sneakers
- Jason Calacanis questions if anyone would notice his expensive sneakers courtside at an NBA finals game.
- Josh Luber doubts Kawhi Leonard would notice, citing his unexpected move to New Balance.