Aaron Hirschhorn, founder and CEO of DogVacay, explains why relying solely on standard background checks is insufficient for high-stakes sharing economy platforms.
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“They've become table stakes for the sharing economy. Between you and me, and I guess all of our listeners, I think they're far from sufficient to really tell you that background checks are highly imperfect. They only look at a certain time frame. They only look at certain areas.”
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PredictionHeld up
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“Food delivery space is a great example. Massive fucking market, don't get me wrong, like, massive market opportunity, but at the end of the day, there's not a lot of differentiation. All these guys are gonna be battling on price, and they're not all gonna surv…”
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Disclosure
DogVacay scaled to hundreds of thousands monthly within three months
“Three months in, we were doing a few 100,000 dollars a month.”
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Insight
Competition is the best lever to get hesitant VCs to invest
“There is nothing like competition to get people to write a check that they might otherwise be hesitant to write.”
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Insight
High-trust marketplace platforms must build proprietary vetting systems
“I think every business where trust is important needs to develop something of their own that's proprietary.”
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AssertionSupported
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“There's eighty-three million dogs in the U.S., which is more than there are kids, by the way.”
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AssertionContradicted
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“The pet services market is fifteen billion dollars in the U.S. And completely fragmented, where nobody has even a couple points of market share, so it's a wide open opportunity.”
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