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Eddy Lu

Co-Founder & CEO, GOAT Group · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutiveLinkedIn ↗goatgroup.com ↗

Eddy Lu is the co-founder and CEO of GOAT Group, a platform operating authenticated footwear and apparel marketplaces including GOAT, Flight Club, alias, and Grailed. Prior to founding GOAT, he launched the startup Grubwithus, owned Beard Papa’s dessert franchises, and worked in consulting and equity research.

14statements → 4claims → 1claims resolved → 4.07/5average certainty → 2/5average debate potential → ≈4.5/5argument clarity, estimated → 5said about them ↓

1 supported 0 partly supported 0 contradicted 1 not yet assessed 2 not checkable as stated how the 4 claims stand · each chip opens the sources

4 assertions · 4 insights · 5 disclosures · 1 what if · every statement was checked. The predictions and assertions are the 4 claims: statements the public record can support or contradict. 1 is resolved, 1 is not yet assessed, and 2 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Eddy argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Eddy Lu: Physical sneaker retailers only stock around 200 shoe models
“If you go into a sneaker retailer today, there's about 200 shoes that you can buy, and those are shoes that didn't sell out, that are just kind of the sale items that they couldn't move.”
Eddy Lu Jul 27, 2018 ▶ 26:31 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown

How they sound: speaking style how? →

233 words/min while actually speaking · 1 um and uh per 1k words

No argument clarity score for Eddy Lu: no usable question→answer exchanges on raw tape (a fair score needs 8+). We do not score a sample that small. Roundtable and news formats yield far fewer direct exchanges than interviews. Their coarse estimate from 15 exchanges on the produced feed is ≈4.5/5, shown at half point precision because the sample is small and produced tape scores higher.

Measured by listening to 4,025 words across 1 episode, but every recording we have of Eddy Lu is the aired feed, and an editor cleaned that audio before release. Some of the hesitation was cut before we ever heard it, so read these as floors: the true rates are at least this high. These are measurements of speaking style, not scores. How it's measured →

How the interview went all their pushback → series average →

Across 1 rated episode:

host pushback ▾ 3/10
pushed back at the host 3/10
setup questions received 80%

Everything Eddy Lu said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure
Eddy Lu: GOAT faked early seller listings using different Home Depot tiles
“In the beginning, we were the only seller since no seller would wanted to list on code because we were unknown. So what we did is that we went to Home Depot and bought a bunch of different tiles. So you see, you have like the wood tile, those one foot by one f…”
Eddy Lu Jul 27, 2018 ▶ 15:53 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Assertion Not checkable as stated
Eddy Lu: 30% of Yeezy sneaker listings on eBay are counterfeit
“You go to eBay today and type in Yeezy, and about 30% of the listings aren't real.”
Eddy Lu Jul 27, 2018 ▶ 15:07 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Insight
Eddy Lu: Prime physical retail rent is equivalent to digital ad spend
“Well, for me, I don't think it impacts margin structure too much because while there's store overhead, if the store is in a Class A location, it's no different than spending money on Facebook marketing. Instead of spending it on digital ads, you're spending it…”
Eddy Lu Jul 27, 2018 ▶ 18:22 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Insight
Eddy Lu: Founders should execute daily micro-pivots when things are not working
“You make micro pivots even when you're building a startup and you have that initial vision. So for me, it's, you know, whether it's a micro pivot on a daily basis or a big pivot, if you know that something's not working, Just change it up.”
Eddy Lu Jul 27, 2018 ▶ 8:04 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Disclosure
Eddy Lu secretly bought shoes on GOAT to fake their first sale
“And I went in and secretly bought a pair of shoes so that I could tell the team, Hey guys, we sold something today.”
Eddy Lu Jul 27, 2018 ▶ 19:07 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Disclosure
Eddy Lu: GOAT rejected a $5M Series A offer post-Y Combinator
“We went out to raise, and we actually got a five million dollar offer from a top tier VC, and it was sitting for us, waiting for us at the table, and, you know, we saw the valuation. It was a fair valuation, but we actually said, Hey, you know what? We're goin…”
Eddy Lu Jul 27, 2018 ▶ 23:47 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Insight
Eddy Lu: Operating a bakery is definitely not a passive income source
“Let me just say that there are very few passive income opportunities, and bakeries are definitely not one of them.”
Eddy Lu Jul 27, 2018 ▶ 3:50 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Assertion Not publicly verifiable
Eddy Lu: Half of GOAT's Y Combinator cohort split over co-founder friction
“Half our white combinator batch broke up right after the batch because of co-founder issues”
Eddy Lu Jul 27, 2018 ▶ 12:09 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Insight
Eddy Lu: Co-founder breakups stem from ego and fighting over CEO titles
“One place where I see that it goes wrong is ego, to be honest. When we saw our Y Combinator batch, there was a lot of people who wanted to be CEO because that was the position to be, rather than saying who's the best person to be CEO.”
Eddy Lu Jul 27, 2018 ▶ 13:48 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Disclosure
Eddy Lu: High customer acquisition costs made Grub With Us unviable
“What we saw was that it cost so much money to acquire a customer because of all those friction points that we knew that, This wasn't going to be a just a mass market business.”
Eddy Lu Jul 27, 2018 ▶ 8:37 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Disclosure
Eddy Lu: Grub With Us pivoted to GOAT with $1.5M remaining
“We raised over seven million dollars and had only about one and a half million dollars left.”
Eddy Lu Jul 27, 2018 ▶ 9:21 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Assertion Not checkable as stated
Eddy Lu: GOAT gained 100,000 users in one week during Black Friday
“So that week leading up to black Friday, we had over a 100,000 users sign up and it crashed our site every single day.”
Eddy Lu Jul 27, 2018 ▶ 20:01 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
Assertion Supported
Eddy Lu: Physical sneaker retailers only stock around 200 shoe models
“If you go into a sneaker retailer today, there's about 200 shoes that you can buy, and those are shoes that didn't sell out, that are just kind of the sale items that they couldn't move.”
Eddy Lu Jul 27, 2018 ▶ 26:31 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown
What-if
Eddy Lu would have written off Grub With Us as an investor
“If I were them, I probably would have written us off too.”
Eddy Lu Jul 27, 2018 ▶ 9:19 20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sneaker Marketplace, How The Best Founders Pick Their Investors & Why It Is Better To Be Hated than Unknown

The other half of the tape: Eddy Lu's own voice is left out of every number here. Other people bring the name up 5 times in 3 episodes on 20VC. every mention, with the transcript →

Who brings them up most Harry Stebbings 5

Every mention by year

Appearances (1)

EpisodeDateSpeaking time
20VC: GOAT's Eddy Lu on Pivoting From Failing Social Dining App To The World's Largest Sne Jul 27, 2018 18m
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