Decoder with Nilay Patel Recode Decode: dtx CEO Tim Armstrong and Poshmark CEO Manish Chandra (live at An Evening With Code Commerce)
Mar 23, 2019
Tim Armstrong, CEO of DTX, shares his vision for blending online and physical retail experiences, likening them to festival events like Coachella. Manish Chandra, CEO of Poshmark, discusses how the platform evolved from secondhand clothing to a social commerce leader, becoming a top iPhone shopping app. Both guests delve into strategies for improving consumer relationships and adapting to evolving market dynamics, while also highlighting the importance of community engagement and innovative marketing.
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DTC as a Platform Shift
- Tim Armstrong believes direct-to-consumer (DTC) is a fundamental platform shift.
- He emphasizes two-way communication, data management, and faster product cycles.
DTC Investment Strategy
- Invest in DTC companies that prioritize two-way communication and understand unit economics.
- Look for founders obsessed with their category and deeply knowledgeable about their costs.
Early DTC Experience
- Armstrong's first experience with direct-to-consumer was with a newspaper in Boston.
- Consumers used coupons, demonstrating the importance of direct relationships.