Opinion certainty 5/5 debate potential 1/5

Galston: Bill Gurley's 10 marketplace drivers essay is the absolute Bible

Ezra Galston · 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures · Aug 17, 2015 · at 10:11

Ezra Galston of Chicago Ventures shares recommended reading for founders and investors analyzing digital marketplaces, calling Benchmark partner Bill Gurley's essay mandatory.

0:00 / 0:18exact quote · 18.8s
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“The Bible here which I'm sure you've read the Bible here is, is Bill Gurley's kind of 10 marketplace drivers blog posts that he wrote in like, it's the absolute Bible. And if you want to even, you know, have like a working knowledge of digital marketplace businesses, you've got to read that and internalize it.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Ezra Galston

Prediction Held up
Galston predicts in 2015 that Bitcoin will succeed long-term
“I love Bitcoin. I've spent a lot of time looking into it. You know, I'll take Ben Horowitz's side of the Felix Salmon bet. I think it'll fly long term.”
Ezra Galston Aug 17, 2015 ▶ 21:56 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures
Assertion Contradicted
Galston: One-third of the Fortune 500 is headquartered in the Midwest
“A third of the entire Fortune 500 is right here in the Midwest.”
Ezra Galston Aug 17, 2015 ▶ 7:29 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures
Assertion Not checkable as stated
Galston: Chicago is Uber and Instacart's second or third largest market
“If you ask Uber or Instacart, what, you know, their second or third most important market is, it's almost inevitably Chicago.”
Ezra Galston Aug 17, 2015 ▶ 8:15 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures
Disclosure
Chicago Ventures avoids leading SF and LA rounds without local proximity
“For kind of our investments in SF for LA, we're traditionally not the lead investor because we do like to lead that, leave that to someone who is a little bit closer, can be a little bit more hands-on.”
Ezra Galston Aug 17, 2015 ▶ 9:09 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures
Insight
Galston: B2B marketplaces offer massive transaction frequency from enterprise client hosting
“If you think about, like, Deloitte or BCG or Google, like, they're throwing, you know, they're hosting clients every single night, 365 days of the year, right? So there's actually a huge amount of frequency potential even in B to B marketplaces”
Ezra Galston Aug 17, 2015 ▶ 11:13 20 VC 063: What It Takes To Standout In A Crowded Market with Ezra Galston @ Chicago Ventures
Insight
Galston: Marketplace supply becomes sticky when workers double their traditional earnings
“And if they're making double, then that's great news, and that starts to really excite me, because then I just know they're going to be sticky.”
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