Bryant Wu

What kinds of actions did that mean when you were at eBay operating to try to promote price discovery or price equilibrium or something like that? What were you literally doing? Jeff: The most interesting thing is early on we try all these initiatives that we baked on our own and debuted the community. And we found out the leverage was way more to ... See more

Once you clear these five hurdles, however, there is more you can do to improve your probability of success at scale. You can design the right incentives, use marginal thinking to make the most of your resources, and stay lean and effective as you grow. You can make decisions based on the opportunity cost of your time, discover your comparative adv... See more

The first is probably not having a team that has the skills. You so often run into people who can't code, but want to do a startup and then don't have a co-founder who can code. That's probably the number one

Number two, I think, would be picking markets that don't exist

And so that's been key to the working, but the economics were awful when we invested. And so the leap of faith there wasn't people would want groceries delivered to their homes. The leap of faith was he can make the economics work.

One of the litmus tests for us when we consider any investment opportunity is as we've discussed before, the size of the prize. Let's assume that everything you're telling me to be true becomes true. How big is the outcome? How big is the impact on the world? And clearly man on the moon, computer on every desk, those are very quickly understood.

Typically what the consumer founder is, typically they're really young, they're digital natives, and they've made observations about the state of the digital world that typically more senior workers with more experience don't make.

Typically, a true economic effect is usually seen through average revenue per user going up (even adjusted for engagement) due to increased conversion rates largely due to the data network effect.