This Week in Startups E1120: Shift Co-CEO George Arison on going public via SPAC, lessons from building Uber’s predecessor & innovating in the massive used car market
Oct 7, 2020
George Arison, Co-CEO of Shift and founder of Taxi Magic, shares insights from his entrepreneurial journey in the tech and transportation sectors. He discusses pioneering taxi booking technology before Uber and the evolution of the ride-sharing market. The conversation shifts to innovations in the used car market, examining safety concerns and customer experience improvements. Arison elaborates on the economics of car buying, highlighting the advantages of going public via SPAC and the challenges of navigating investor dynamics.
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Taxi Magic: The Precursor to Uber
- George Arison created Taxi Magic, a precursor to Uber/Lyft, in 2007.
- It offered taxi dispatch and payments via phone, predating Uber's key innovations.
Freemium Model for Growth
- Use a freemium model to accelerate user acquisition.
- Charging for everything from the start can severely hinder growth.
Missed Opportunity with Bill Gurley
- Bill Gurley, a top VC, almost funded Taxi Magic.
- Disagreements between founders and Gurley on the freemium model killed the deal.