This Week in Startups Startup pitch competition: Jason invests $25K | E1714
Apr 5, 2023
Joseph Homsy, the co-founder of Outmost, shares insights about his online marketplace for used outdoor gear, aiming to create a trustworthy platform for enthusiasts. Topics include the importance of product velocity and innovative thinking in building a startup. Jason evaluates the pitches, emphasizing the crucial role of execution over ideas. The discussions also touch on navigating startup challenges and the evolving market for secondhand goods. Homsy's journey reflects the growing consumer shift towards sustainability and resourcefulness.
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Prioritizing Investments
- Prioritize teams with multiple founders, especially builders, for early-stage investments.
- Developers have a higher chance of success, so bias investments towards them.
Resale Market Growth
- Resale marketplaces thrive due to growing sustainability concerns and economic uncertainty.
- Consumers now prioritize value and reuse, changing consumption patterns.
Team and Product Velocity
- Focus on product velocity and consistent progress.
- Multiple co-founders provide redundancy and reduce risk, as they often don't pay themselves initially.