My First Million #186 with Marc Lore - Brainstorming with Billionaire Marc Lore on What He Would Build Today and the Future of Ecommerce
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May 26, 2021 
Join billionaire entrepreneur Marc Lore, founder of Diapers.com and Jet.com, as he discusses his thrilling journey into sports ownership with the Minnesota Timberwolves. Marc shares his insights on building effective teams and outlines strategies for running businesses with a focus on innovation in e-commerce. Explore the intriguing companies he's investing in and his bold ideas for a new $100 million e-commerce venture. With a mix of wisdom and vision, he delves into the future of online shopping and the dynamics of capital acquisition in today's market.
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Marc Lore's E-commerce Success
- Marc Lore sold Diapers.com to Amazon for approximately $550 million.
- He also created Jet.com, which he later sold to Walmart for $3.5 billion.
Timberwolves Acquisition
- Marc Lore, along with Alex Rodriguez, recently purchased the Minnesota Timberwolves.
- The deal is currently undergoing NBA approval and is expected to close in approximately six weeks.
The VCP Framework
- Marc Lore approaches business ventures with a "vision, capital, people" (VCP) framework.
- He emphasizes the importance of a strong vision, sufficient capital, and the right team.