Likes LinkedIn.

Transcript context

…se it's a huge segment and it's somewhat self-contained. But for most other things there's a lot of fluidity between the employers and the employees in terms of who wants to transact with one another. And so if you're an investment banker, you don't really want to be on the LinkedIn investment banker because you're probably in the future going to want some other job. So you want to be in the biggest network that's relevant to you and so this is why you can complain about LinkedIn's UI all day, but they have a very strong place in the market because of that network effect. So broadly, I think there are some pretty interesting examples, places where you can unbundle but they're rarer than people think. That is amazing. There's so much value in what you just shared. So one takeaway I have here is you have an opportunity to unbundle/split off into a vertical marketplace potentially if there's high order value and high frequency. And the third piece is there's almost a self-contained network that doesn't benefit significantly from the rest of the network. For example, I love the Rigup example, like I doubt oil rig operators are on LinkedIn and when something comes around that's like, "Oh, all my buddies are on this thing, I'm going to be on there," you don't need the rest of LinkedIn. The first piece, though, is interesting. So Airbnb I wouldn't say is high frequency. I'd say it's just very large high order value. And so I wonder if you just need one or the other really in a big way. Really high order value or really high frequency? This is a good point. Probably what you're solving for is customer LTV and you can get that in multiple places. There's not that many things which are both high frequency and high dollar value so you can do both. I do think if you go to a place that is low frequency, it comes with all kinds of new challenges because, without frequency, customers forget about you. And so what is the hook to get them to come back? Do you have to reacquire traffic? It creates a whole other set of problems. But if you can get it right like in the Airbnb case, it can work really well.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.