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Speaker unverified: commitment

24 Mar 2021 Acquired Rec Room Part II (with CEO Nick Fajt)

“The real value is this is a much more scalable way of growing your revenue. It’s hard to grow your revenue by being, I am going to continually come up with new services and items, and every time I want to have a new hat or more hats, I need to hire more people over here.”

— Speaker unverified

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Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
commitment
Recorded
24 Mar 2021
Publisher
Acquired

Transcript context

…Yup. Honestly, the way that it played out is like when we first introduced the system. Still the majority of the currency was coming through our items. Basically, mostly what people are buying is government services. That wasn’t a huge consideration for us. You can see as more and more of our economy shifts from Rec Room–specific—we’re selling shirts to users selling shirts—you really do get a float on this. The benefit of these kinds of ecosystems is it’s not so much the float. The real value is this is a much more scalable way of growing your revenue. It’s hard to grow your revenue by being, I am going to continually come up with new services and items, and every time I want to have a new hat or more hats, I need to hire more people over here. But if you build tools to let people do it, you just get a much more scalable catalog. In the beginning, it’s a much harder way to grow revenue. In the long-term it’s a much better way of growing revenue. It’s fascinating.…

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