In Today’s Episode, We’ll Dive Into:
What are the metrics critical to driving a healthy marketplace business? Jeff discusses how the StubHub team approached scaling customer acquisition of the marketplace depending on their growth targets. Do you acquire a customer upfront at profitable unit economics, or do you acquire that customer with the assumption that a portion of customers will return to drive profitability later on?
How do you hire quality talent at scale? Hiring is hard. And it takes a ton of iteration and trial-and-error. The reality is that you’re not always going to hire right, but Jeff shares his tips for discerning the right candidate for the right job… and how as a founder you should effectively manage your hires by letting them do what they’re paid to do.
What was the rationale for selling StubHub to eBay? Jeff walks us through the risks and rewards facing StubHub at the time of its sale, and how eBay had been courting the startup for years as a potential acquisition. He also walks us through his thought process had StubHub not sold.
What were Jeff’s lesson learned with startup #2, Spreecast? Jeff set out to bridge the intimacy divide inherent in today’s superficial social media through Spreecast. Through his journey, Jeff learned quite a few lessons around business model and industry that he shares with the audience.
What’s a book that’s recently influenced Jeff’s thinking? Thinking, Fast and Slow by Daniel Kahneman explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation―each of these can be understood only by knowing how the two systems shape our judgments and decisions.