In this episode, Erasmus Elsner is talking to Mike Ghaffary, GP at Canvas Ventures.

00:00 Intro 

02:21 Swiss army knife of education 

04:04 Business school after Dotcom bubble burst  

05:06 Founding Stitcher 

06:14 Focusing on news 

08:03 Becoming CEO of Eat24 

09:39 Growing Eat24 to $700m top line 

10:45 Food delivery wars 

11:55 Grubhub Partnership that never launched 

13:12 Jeremy Stoppelman and Steve Jobs on search on mobile 

14:30 Becoming a successful angel investor 

15:35 Making the most expensive iPhone app ever 

16:37 Angel investment in Strava 

17:20 Angel investment in Superhuman 

17:50 Joining Social Capital 

19:58 Mike’s experience at Social Capital 

20:28 CloudKitchens investment 

21:30 HubHaus investment 

22:37 Joining Canvas Ventures 

24:04 Flyhomes investment 

27:52 Marketplace Deep Dive 

28:27 Lenny Rachitsky: focus on supply or demand side? 

30:06 Thomas Eisenmann: Two-sided networks 

30:57 Uber: demand side vs. supply side subsidies 

32:09 Local vs. global network effects 

33:24 Sarah Tavel (Benchmark) on unlocking new supply

34:21 Local delivery war zones 

35:36 Uber Eats entering the market 

37:04 Public vs. privately held delivery war contenders 

38:54 Marketplace take rate 

40:38 Out-of bound marketplace take rates 

41:57 Zero percent take rate