This Week in Startups Best of This Week in Startups: Week of October 5th, 2020
Oct 10, 2020
George Arison, founder of Shift and pioneer of ride-sharing through Taxi Magic, discusses the evolution of transportation startups and the challenges of navigating public markets versus private funding. Mark Suster, a venture capitalist known for sustainable investing, shares insights on long-term ecological solutions, including innovative startups tackling the water crisis and food waste. They also dissect the SPAC trend and its implications for the tech industry, offering a compelling look at the future of investment in startups.
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Taxi Magic's Missed Opportunity
- George Arison created Taxi Magic, a taxi-hailing app with payments, predating Uber and Lyft.
- However, they didn't offer a freemium model and missed out on Bill Gurley's investment.
Freemium Model for Growth
- Use a freemium model to gain users and traction.
- Charging for everything from the start can throttle growth.
Location and Mentality
- Not being in Silicon Valley hindered Taxi Magic's success due to a conservative East Coast mentality.
- This mentality prioritized enterprise solutions and charging for products, unlike the Valley's freemium approach.