Bryant Wu

The best way to measure the acquisition effect is usually by the percent of organically acquired users and the customer acquisition cost going down over time (within a network until a certain point).

Apoorva's superpower is optimization. He's just said, "These are the 19 things we need to accomplish to make the unit economics work. And I'm halfway on this one and just laid it out."

One threat was we get hollowed out vertical by vertical by specialized marketplaces, because one of the benefits of the horizontal marketplace is the consumer can go to anywhere they want and find what they're looking for. One of the negatives is it's really hard to tailor the experience to the unique attributes of that vertical

One of the most important lessons for me, another lesson learned, in the areas I invest in, which is largely consumer, I think it's critical you have a theory and defensibility. And for me, that defensibility typically has been network effect.

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.

I would shorthand a venture investment as TAM, team, and to a lesser extent timing. It's really about TAM and team

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

First is speed. Second is a two-step process of actually disagree, but commit.