Prediction Not checkable as stated
Marc Lore: Candidates with top-10% resumes and SPOTIC traits are hired on the spot
“And if I find a top 10% resume with spotty traits, home run, and then I hire them on the spot. I don't need to do any references at that point. They've already proven on their resume and do the values that they're amazing.”
Opinion
Lore: Stage-specific VC value-add is overdone and causes conflict
“I think it's a little overdone, this idea that, like, they help in a different way, the C or the A. When I think about my best investors, because they came in all the rounds, I treat them all like they're just great. They're sounding boards, they open doors, t…”
Insight
Marc Lore: Founders Must Invest Enough Personal Capital to Feel Life-or-Death Pressure
“I wouldn't recommend putting your life savings in. But I would recommend putting enough money in so that you feel like it's life or death, because that's the only way to get into what I call the sixth gear.”
Insight
Marc Lore: Founders Cannot Successfully Manage HR on the Side
“If you think that, or the CEO or the founder of a company thinks that they can found the company, do the capital, do the vision, do all the parts of the business, and on the side with their pinky, do like the chief people stuff. That's not gonna work. You're n…”
Prediction Didn’t hold up
Marc Lore targets a $500M fund concentrated in 15 companies
“Yeah, it would be, you know, more like 15 investments. How do you put ten million seed in a company, and then the company winds up, let's say you own 40% for ten million, and then the company winds up doing a fifty million dollar round that you lead to keep yo…”
Insight
Marc Lore: Operating at maximum intensity on five hours of sleep fails
“If you want, in sixth gear, this idea of being in sixth gear and sleeping five hours a night, that doesn't work. You can't, you don't have enough energy to be in sixth gear for the remaining hours in the day.”
Insight
Marc Lore: Childhood-driven motivation cannot be replicated but can become an asset
“You can't tell somebody that doesn't have this unhealthy childhood to find that motivation. It's something that's unexplainable, but I think it's really healthy when it starts, and I think with therapy and time, I think it can morph into something that's healt…”
Insight
Marc Lore: Half-trusting people yields all downside and no upside
“I've found, and I'm very trusting, when you openly trust someone, really trust them, like where they can burn you, like put yourself in a place where they could burn you. They rarely do. Occasionally you might get burned, and that's part of one of the conseque…”
Insight
Marc Lore argues default trust yields high upside with only 2% failure rate
“I found that actually it is more like one 50. Like it's rare that you will get burned and you'll get better at associating with people that are less likely to burn you. But the upside is tremendous. Like I said, if you go halfway on trusting or three quarters,…”
Assertion Not checkable as stated
Marc Lore: Reference checks almost never change hiring decisions
“It's very, very, very rare, and I talked to people about this, that you'll actually change your mind from a reference. Like, I want to hire this person, let me check the references, and then you're like, no, now I'm not going to hire the person. Or, I don't th…”
Insight
Marc Lore: Superstars make demonstrable jumps in level when changing companies
“When they leave the company that they're at, Superstars make demonstrable jumps in either title, level, type of company, and it's very clear.”
Prediction Not checkable as stated
Marc Lore: I will never accept referral candidates without top-10% resumes
“Most people don't really understand what a superstar is, so I, for the most part, I will never take a recommendation unless the resume is Fits the description.”
Assertion Not checkable as stated
Marc Lore: Walmart Acquired Jet.com for Talent and Tech, Not Customers
“When Walmart made the acquisition, that was a, probably the single biggest reason why they were interested in spending three billion dollars for Jet. It certainly wasn't the market penetration, the customers that they were buying. They were buying the team and…”
Disclosure
Marc Lore: VCP Provides $10M Checks for Hiring Top Talent
“That's what the VCP fund is all about, is like, no, we're going to give you ten million so you can hire the very best people in the world and give you the best possible shot Of making a big company”
Insight
Marc Lore: Never take risks on core values, only with capital
“I don't think you take risk on values. So I think you need to be really grounded, know what your values are, what your core values, and never deviate, and even live them when they're hard. I think that Sometimes it's hard, but that means you're living your val…”
Disclosure
Marc Lore tracks Myers-Briggs personality types for all friends and colleagues
“I'm a big fan of Myers-Briggs personality test. There's 16 personalities. I try and know the personality type of all my friends, family, and anyone, colleagues, because I think understanding the personality type is like kind of the first, you know, the beginni…”
Disclosure
Marc Lore refuses to meet candidates before resume screening
“I won't interview somebody, or I don't even want to meet them. I don't want to see them until they passed the resume test”
Insight
Marc Lore: Hiring top market talent guarantees strategic acquisition interest
“I find if you've got the very best people in the world in a certain segment of the market, it's always going to be really valuable and interesting to a strategic.”
Disclosure
Marc Lore invested $15M total into Archer Aviation before $1B SPAC
“I gave them five million and helped them raise the fifty million, the same kind of Same kind of thing. I kicked off the fifty million dollar round with 10, and that all came together, and they had sixty million dollars. They had the best team in the world. The…”
Insight
Lore: Most founders cannot state a clear 10-year vision in three sentences
“I don't think people spend enough time on the vision. They'll say, like, if you ask somebody, what is your vision? 10 to 15 years, where do you want to be? It's rare that somebody will be able to, like, recite a, like, really tight three to five sentences of e…”
Disclosure
Marc Lore and Alex Rodriguez took a 40% stake in NowWith
“Albert Potkin and Nicole Winneman just announced recently that me and Alex Rodriguez invested We did take a 40% stake in the company and it's in social commerce.”
Opinion
Lore: Social and conversational commerce are retail's biggest untapped opportunities
“I think the two big areas still left untapped in retail are social commerce and conversational commerce.”
Assertion Not checkable as stated
Marc Lore Earned $500,000 Annually as Chief Risk Officer Before Quitting
“I was the chief risk officer for a bank. I was making a half a million bucks a year.”
Disclosure
Marc Lore Invested $390,000 in Life Savings to Launch First Startup
“I have 390,000 saved and putting it in. And he goes, all right, you've really lost your mind now, but you know what? You're all in. And I think you're going to make this work. So can I put 50 grand in as your first investor? And he did.”
