Lenny Rachitsky: belief

Transcript context

…Maybe just this kind of the coda, which is like you can never rest on your laurels, and we talked about this already, but the history of marketplaces is one of disruption. And the idea with happiness is that, and Amazon and Bezos talk about this, which is expectations, consumer expectations, are constantly going up. And so, if you ever stagnate in the experience that you give to the consumer, guess what? You're going to get disrupted. And the examples of we talked about with Airbnb and HomeAway, DoorDash, and Grubhub, Grubhub wasn't able to, for different reasons, they were a public company, and so, they couldn't access capital in the same way that the private markets could. But they were too slow to change the atomic unit of their supply to have delivery that they fulfilled. And so, they got disrupted by the DoorDash, Uber Eats of the world. And so, you just can't rest on your laurels. Expectations constantly go up. And it's part of what's so exciting about this market that we play in. I think Grubhub is a great example of that, where they were the first really successful food delivery company, and then, even with network effects, by far, the best way to order. And then, DoorDash comes around and wins, because they go bigger and spend a lot of money that Grubhub wasn't willing to spend. Awesome. So I guess the advice there is just don't take for granted your success, even if you have amazing network effects. That's right.…

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