My First Million

#186 with Marc Lore - Brainstorming with Billionaire Marc Lore on What He Would Build Today and the Future of Ecommerce

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.

01:15:36

Episode guests

Marc Lore

Highlights

AI Chapters

Episode notes

Exiting in the Middle Ground: Challenges and Success

01:17

"He Doesn't Own a Computer": Insights from a Successful Entrepreneur

01:32

Why I Don't Get Honey Potted in Interviews

01:20

Intro

2min

Debriefing the E-Commerce Expert

3min

From Dreams to Ownership: Navigating Sports Franchises and Startups

30min

Navigating Trends and Exits in E-commerce

16min

Innovative Opportunities in Entrepreneurship

18min

The Remarkable Jet Marketing Contest and Its Impact

2min

Exciting Updates and Audience Engagement

2min

Engaging Leaders and Streamlining Business Operations

2min

Shaan (@ShaanVP) and Sam (@TheSamParr) talk with billionaire Marc Lore. Marc is an entrepreneur who started The Pitt, Diapers.com, and Jet.com. Collectively he has sold his companies for over $4B. Marc talks about his plans for his new NBA team, the Minnesota Timberwolves, which he bought alongside Alex Rodriguez. He talks about how he plans to run the team like he has always ran his companies. He talks about the importance of hiring the right people (and how to do it) and being well-capitalized. For the second half of the podcast, we jump straight into a brainstorm. Marc talks about the interesting companies he's investing in as well as the ones he would like to exist. He even breaks down how he would go about creating a $100m e-commerce related company within the next 3 years

---------

* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

* Support the pod by spreading the word, become a referrer here: https://refer.fm/million

* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

---------

Show notes:

* (6:00) How Marc came to own the Timberwolves

* (15:28) How Marc Lore hires people

* (28:30) These are the companies Marc is investing now

* (37:40) How Marc decides which companies to start and how he goes about it

* (44:47) Where Marc thinks the future of e-commerce is going

* (55:17) How Marc would build a company to sell for $100m

* (1:00:27) Shaan and Sam debrief

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.