#186 with Marc Lore - Brainstorming with Billionaire Marc Lore on What He Would Build Today and the Future of Ecommerce

Explicit content warning

05/26/21 • 75 min

2 Listeners

Shaan (@ShaanVP) and Sam (@TheSamParr) talk with billionaire Marc Lore. Marc is an entrepreneur who started The Pitt, Diapers.com, and Jet.com. Collectively he has sold his companies for over $4B. Marc talks about his plans for his new NBA team, the Minnesota Timberwolves, which he bought alongside Alex Rodriguez. He talks about how he plans to run the team like he has always ran his companies. He talks about the importance of hiring the right people (and how to do it) and being well-capitalized. For the second half of the podcast, we jump straight into a brainstorm. Marc talks about the interesting companies he's investing in as well as the ones he would like to exist. He even breaks down how he would go about creating a $100m e-commerce related company within the next 3 years

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Show notes:

(6:00) How Marc came to own the Timberwolves

(15:28) How Marc Lore hires people

(28:30) These are the companies Marc is investing now

(37:40) How Marc decides which companies to start and how he goes about it

(44:47) Where Marc thinks the future of e-commerce is going

(55:17) How Marc would build a company to sell for $100m

(1:00:27) Shaan and Sam debrief

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Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

Support the pod by spreading the word, become a referrer here: https://refer.fm/million

Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

---------

Show notes:

(6:00) How Marc came to own the Timberwolves

(15:28) How Marc Lore hires people

(28:30) These are the companies Marc is investing now

(37:40) How Marc decides which companies to start and how he goes about it

(44:47) Where Marc thinks the future of e-commerce is going

(55:17) How Marc would build a company to sell for $100m

(1:00:27) Shaan and Sam debrief

Previous Episode

#185 with Andrew Wilkinson - The Secretive Billionaire Who Acquired Burger King, Creating Better Babies & How Much Money is Enough?

Sam (@theSamParr) and Andrew (@awilkinson) break down billionaire Jorge Paulo Lemann. Lemann has built his fortune by acquiring consumer businesses and running them profitably by slashing costs. He famously sells all corporate jets when he acquires a company. The guys then get into a brainstorm on Andrew's new media company, how to create healthier babies, and "health managers".

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Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

Support the pod by spreading the word, become a referrer here: https://refer.fm/million

Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

(4:05) Billie of the Week: Jorge Paulo Lemann

(37:25) How Andrew is building a local media business empire

(45:50) How to create a better baby

(51:25) What is a "health manager"?

(59:02) How much money is enough?

Next Episode

Stanley Druckenmiller on What Makes a Great Investor, Bitcoin & His Biggest Trades

Trung Phan (@TrungTPhan) -- lead writer for The Hustle -- interviewed hedge fund legend Stanley Druckenmiller on May 11. Widely regarded as one of the greatest investors ever, Druckenmiller famously made $1 billion in a single trade shorting the British Pound in 1992.

Sam (@theSamParr) has a brief intro chat with Trung before transitioning into the 40-minute Druckenmiller Q&A, which covers: 1) the parallels between now and the Dot-com bubble; 2) the appeal of Bitcoin; 3) the first Big Tech firm likely to reach a $5T valuation; 4) what makes a great investor; and 5) Druckenmiller’s investment in fintech startup Toggle AI (which set up the interview).

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Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/

Support the pod by spreading the word, become a referrer here: https://refer.fm/million

Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.

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Show notes:

(8:25) Lessons from the Dot-com Bubble

(17:40) What’s the first Big Tech company likely to reach a $5T valuation?

(19:25) What’s the biggest risk to the equity markets?

(21:55) What are the long-term effects of the Wall Street Bets saga?

(24:20) How he uses Toggle AI in his investing process

(26:50) What makes a great investor?

(35:20) What is the appeal of Bitcoin?

(42:20) His thoughts on Dogecoin

(44:20) Advice for 20-year olds