"Request for Startups" with Erik Torenberg
Building Data Companies: People, Places, Org, Products with Auren Hoffman
Feb 9, 2024
Auren Hoffman, CEO of Safegraph and host of World of Daas, joins Erik Torenberg to discuss data business. They cover topics like market share and declining CACs, challenges of data businesses, building reputation databases, frustrations with LinkedIn, and scaling service businesses.
56:42
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Quick takeaways
- Building data businesses requires careful sourcing and verification of data, and tuning the offerings based on different use cases.
- A platform that offers highly trusted and efficient service recommendations would be invaluable, allowing users to make better choices based on the experiences of others.
Deep dives
The importance of declining CAC for great businesses
One consistent mark of great businesses is declining customer acquisition costs (CAC). Dominant businesses with majority market share can drastically reduce their sales and marketing costs, as customers naturally gravitate towards them. Companies like Facebook, LinkedIn, and Google demonstrate this characteristic, with their costs of acquiring new customers always lower than the previous ones.
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