Masters of Scale Rapid Response: Launching a $500b startup, w/Jet.com's Marc Lore
Oct 21, 2021
Billionaire entrepreneur Marc Lore, co-founder of Jet.com and former Walmart e-commerce president, discusses his ambitious vision for the future. He shares plans for Telosa, a sustainable new city aiming to tackle socioeconomic issues through community land ownership. Lore also delves into his recent investments in sports, including acquiring the Minnesota Timberwolves, and emphasizes his approach to entrepreneurship: focusing on vision, capital, and people. With innovative ideas like the 'Lobatical' employee benefit, he highlights the importance of appreciation in driving success.
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Big Ideas & Land Monopoly
- Big ideas are easier than small ones because fewer people compete in that space.
- Land ownership is a silent monopoly needing government intervention like early capitalism.
Telosa and Equitism
- Telosa aims to test a new societal model, addressing wealth inequality by having land owned by a community foundation.
- The city's trillion-dollar land value would fund advanced social services, illustrating "equitism."
Telosa's People-Centric Approach
- Telosa prioritizes people over technology, focusing on values like openness, fairness, and inclusivity.
- This people-centric approach, starting with a mission and values, sets it apart from real estate projects.
