ACQ2 by Acquired Consumer Investing in 2022 (with Brian O'Malley of Forerunner Ventures)
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Oct 31, 2022 In a riveting discussion, Brian O'Malley, a partner at Forerunner Ventures, dives into the current landscape of consumer investing. He highlights how to navigate the macro environment and identifies the next generation of breakthrough consumer technologies. Brian emphasizes the importance of focusing on niche markets, illustrating how they can expand unexpectedly. He also shares insights on dealing with the evolving direct-to-consumer market and underscores the significance of understanding consumer behavior in a post-pandemic world.
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Focus on People, Not Metrics
- Focus on consumer needs and pain points, not just in-app metrics like B2B SaaS.
- Conduct thorough primary research to understand consumer behavior and motivations.
Uber Example
- Early Uber wasn't great, but it was better than San Francisco's taxi system.
- It solved a major pain point, even with a flawed initial product.
HotelTonight's Niche Focus
- HotelTonight initially targeted a niche market of commuters in three cities.
- This narrow focus helped them gain traction and later expand to a broader audience.