The NFX Podcast

In this episode, Pete Flint chats with Stacey Brown-Philpot, CEO of Task Rabbit, about leadership, company culture, and handling crises. They delve into TaskRabbit's evolution, community engagement, marketplace balancing, and tackling disintermediation. They also discuss geographic expansion, pricing strategies, and their IKEA acquisition. Lastly, they explore the gig economy's evolution, its regulation, and the impact of the COVID crisis. TaskRabbit invented the gig-economy in 2008 with a marketplace that matches freelance labor with local demand for everyday tasks. Stacy Brown-Philpot became CEO of TaskRabbit in 2016 and led the company through its acquisition by IKEA in 2017. In this episode, we discuss:- Leadership changes- Growth vs. profitability- Competition- Exits- Expanding- Regulation Be on the lookout for more Iconic Marketplace episodes on the NFX podcast in the near future and read more NFX content at - www.nfx.com/essays (0:00) Introduction and welcome to Stacey Brown-Philpott, CEO of Task Rabbit (1:19) Discussion on leadership, company culture, and handling crises in the tech sector (8:37) Evolution and challenges of TaskRabbit, and importance of community engagement (14:12) Balancing between horizontal and vertical marketplaces, and dealing with disintermediation (19:28) Geographic expansion strategies and pricing in service marketplaces (23:37) TaskRabbit's acquisition by IKEA: alignment of values, cultural differences, and growth impact (29:41) Advice for startups considering partnerships or M&A with traditional companies (30:33) Discussion on the evolution and regulation of the gig economy (34:15) Impact of the corona crisis on the gig economy and the future of the service marketplace (36:40) Closing remarks

In this episode, James Currier talks with Iman Abuzeid about the role of structured thinking in problem-solving and fundraising. They discuss the importance of controlling the fundraising process, common errors in pitching, the evolution of pitch decks, and how to navigate term sheets. The conversation also covers financial model adjustments, key SaaS metrics, and the psychology of fundraising. After raising venture capital from NFX, Andreessen Horowitz, Obvious Ventures, and Precursor Ventures, CEO & Co-Founder Iman Abudzaid made her fundraising learnings, methodology, and frameworks public for the benefit of Founders everywhere. Topics discussed with Iman include: When to fundraise Fundraising amount & goals Personal insights & learnings Personal fundraising process Traction & metrics Evolution of the pitch deck And much more Incredible Health - https://www.incrediblehealth.com/ TechCrunch article - https://techcrunch.com/2019/09/12/incredible-healths-hiring-platform-for-nurses-gets-15m-led-by-andreessen-horowitz/ Signal - https://signal.nfx.com/login The Brief - https://thecompanybrief.com/ To read more essays and content on fundraising, network effects, growth, and frameworks visit - www.nfx.com (0:00) Introduction and overview of NFX's work (1:03) Introduction of Iman Abuzeid and Incredible Health (3:25) Structured thinking in problem-solving and fundraising (7:11) Controlling the fundraising process and key insights (10:12) Content iteration process and common errors in pitching (14:09) The role and evolution of a pitch deck in fundraising (16:41) Decision-making in funding and negotiating term sheets (20:44) Financial model adjustments and advice for CEOs (22:32) Management and understanding of key SaaS metrics (24:10) Psychology of fundraising, handling rejection, and wrap up

In this episode, Pete Flint converses with Marco Zappacosta and Kristen O'Brien on the growth and evolution of Craigslist and Thumbtack. They discuss the importance of liquidity and network effects in marketplaces, the misapplication of Uber's model, and the future of human capital in marketplaces. They also delve into leadership, fundraising, competition, and the future of online-offline interaction. Marco Zappacosta (Co-founder & CEO of Thumbtack) talks with Pete Flint (NFX & founder of Trulia) about what it takes to build a billion-dollar marketplace and the lessons he's uncovered along the journey. They discuss how they solved the chicken & egg problem, what he would have done differently as an early-stage marketplace, fundraising lessons, and how short-term metrics can actually hinder long-term retention. Read more essays from NFX - www.nfx.com (0:00) Introduction to the episode and guests (5:13) Observations from the growth of Craigslist and the value of liquidity in marketplaces (10:26) Reflections on Craigslist's network effects and the suitability of the service professionals category for disruption (15:11) Evolution of Thumbtack's business model and transition from a lead generation marketplace to a transactional one (22:43) The need for constant evolution to meet consumer expectations and the misapplication of Uber's business model to other industries (29:05) Managing transitions during major changes and setting expectations (33:58) The future of marketplaces: human capital and its potential & the importance of vulnerability as a leader (40:15) Lessons learned from fundraising and mapping out goals for future rounds (43:15) Discussing competition in the market and the importance of brand (51:22) Future of online to offline interaction in marketplaces and prioritizing customer problems (54:20) Wrapping up the discussion

null As Founders ourselves, we started 10 venture-backed companies that exited for over $10 Billion. During that time as Founders and now as VCs, we’ve seen 16 counterintuitive lessons in pitching VCs that increase your odds of success. Today we’re sharing them for the benefit of the entire founder community. Learn more at - www.nfx.com Start your Company Brief at - www.thecompanybrief.com

Scott Cook, founder and chairman of Intuit, shares invaluable insights from his experiences with eBay and Amazon. He highlights how network effects are critical for startup success and offers strategies to tackle common challenges like the chicken-and-egg problem. Cook emphasizes the transformative power of technology and the rise of volunteerism through digital platforms. He also discusses the efficiency of small teams in fostering innovation and the broader societal benefits that emerge from thriving network effect businesses.

James Currier, Partner at NFX, discusses key frameworks for refining startup ideas, including leveraging technological shifts and balancing market risk. Case studies of companies managing different risk types provide practical insights for entrepreneurs. The episode highlights the crucial role of the core idea in shaping the trajectory of a startup.

In this episode, James Currier delves into the fundamentals of running a successful startup. He discusses the nine habits of world-class startups and explores the power of storytelling with Morgan Beller. The conversation also touches on the "11 of 13" rule, the significance of language, the necessity to test and iterate, and how to spot major changes in crucial metrics. Startups that grow into transformative companies do two things: (1) they nail the basics and (2) they cultivate the right habits (core operating principles). In this episode of The NFX Podcast, James Currier lists 9 habits that get investors to lean in and take special notice. Follow @NFX on Twitter To read our essay on the 9 Habits of World Class Startups, visit -https://www.nfx.com/post/9-habits-world-class-startups For more NFX essays, visit - www.nfx.com (0:00) Introduction by James Currier (0:27) Basics of running a successful startup (1:09) Nine habits of world-class startups (4:12) Storytelling in startups with Morgan Beller (6:03) The 11 of 13 rule and going full speed (7:12) Importance of language in startups (7:57) The need to test and iterate (8:32) Identifying major changes in important metrics (8:56) Conclusion by James Currier

In this episode, Manish Chandra, founder of Poshmark, joins James Currier to discuss his experience building and scaling Poshmark. They delve into overcoming operational challenges, the importance of social commerce, and the company's unique business philosophy. The conversation also touches on fundraising, team development, and Poshmark's future plans. They were rejected by 200+ investors. They were turned down by every single payment processor in the country. They discovered they were in violation of USPS regulations, and almost ran out of money. Yet today, Poshmark is one of the most successful marketplaces of all time. Be on the lookout for more Iconic Marketplace episodes on the NFX podcast in the near future and read more NFX content at - www.nfx.com/essays (0:00) Introduction and Background of Manish Chandra (5:24) Lessons from Kaboodle and Conception of Poshmark (12:17) Building, Testing, and Scaling Poshmark (19:21) Overcoming Operational Challenges and Reinventing Shipping (22:06) Social Commerce and Community Aspects of Poshmark (27:16) Business Philosophy and Work Environment at Poshmark (31:22) Potential Future of Poshmark and Overcoming Hard Times (35:12) Continuous Growth as a Leader and Challenging Business Axioms (39:33) Importance of Company Culture and Network Effects (41:01) Fundraising Journey, Team Development, and CEO Time (47:38) Future of Poshmark: International Expansion and New Product Categories (49:02) Closing Remarks with Manish Chandra

In this episode, James Currier discusses the key learnings from Uber's success, emphasizing the importance of speed, product defensibility, and strategic use of capital in startups. He underscores the role of a big vision and the power of language and naming in business. James Currier of NFX outlines 5 important lessons you can learn from Uber and their growth over the last 10 years. Check out our past Inside the Marketplace episode on Lyft here - https://soundcloud.com/nfxpodcast/idea-to-ipo-lyft-vs-uber-and-the-battle-for-ridesharing-dominance (0:00) Introduction to the episode: Learning from Uber's success (0:31) The significance of speed and aggressiveness in startups (2:45) Focusing on your product's defensibilities (6:01) Using capital as a competitive weapon in business (8:05) The importance of a big vision for startups (9:06) The power of language and naming in business (10:44) Recap of the five lessons from Uber's success

In this episode, Pete Flint and James Currier discuss the Lyft IPO, comparing the ridesharing market to the airline industry and exploring Lyft's expansion into scooters. They delve into the future of autonomous vehicles, supply side innovation, and the influence of Wall Street on company strategies. They also touch on the importance of founders' control and Lyft's potential dominance in smaller markets. Pete Flint & James Currier of NFX discuss Lyft's upcoming IPO, the defensibility of the ridesharing business model, and what Lyft should do next. Check out our past Inside the Marketplace episode on Lyft here - https://soundcloud.com/nfxpodcast/inside-the-marketplace-uber-nfx-podcast (0:00) Introduction and discussion on Lyft IPO and Network effect IPOs in 2019 (6:09) Comparing the ridesharing market to the airline industry and the importance of branding (9:34) Lyft's expansion into the scooter business and the race to own the consumer transportation app (12:01) The future of autonomous vehicles in ridesharing and Lyft's strategy for sustainability (15:30) The importance of supply side innovation for long term profitability and diverse supply options (19:22) The experience of Trulia and Zillow going public and Wall Street's influence on company strategies (24:33) The benefits of founders maintaining control and focusing on long term goals (26:38) James Currier's take on Lyft's approach and autonomous units (29:20) The advantages of Lyft becoming a dominant platform in smaller markets (30:17) The impending public debut of Lyft and its impact on the market and the contrasting cultures of Lyft and Uber