Brad Bao, co-founder and CEO of Lime, outlines his timeline framework for when early-stage startups should hire executive talent.
0:00 / 0:19exact quote · 19.9s
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“So for us, the way I look at it is that just imagine that a talent or a executive that imagine the team he or she will be managing 12 months from now. So therefore that you bring them on 12 months earlier and give them the opportunity to build that team over the course of 12 months and keep on running it.”
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More from Brad Bao
AssertionNot checkable as stated
Lime is already profitable in dozens of individual city markets
“We already have dozens of markets of profitable.”
Brad BaoJun 14, 2019▶ 14:3620VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
Disclosure
Lime spends zero dollars on paid user acquisition, says CEO Brad Bao
“We don't spend a penny on user acquisitions”
Brad BaoJun 14, 2019▶ 6:4420VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
PredictionNot checkable as stated
Majority of smaller micro-mobility players will struggle to survive
“It's too early in the industry to say that what could happen, but I would say, though, some of the learning we have from the history that There might be some form of consolidation, but majority of them that it will be just smaller ones will be having a hard ti…”
Brad BaoJun 14, 2019▶ 13:5720VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
AssertionNot checkable as stated
Lime reached market profitability in one city in just two weeks
“Two weeks.”
Brad BaoJun 14, 2019▶ 15:4420VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
Disclosure
Lime deliberately rejected Uber's playbook of launching without prior city approval
“When we started a company that the proven formula, which is a uncommon common practice, That idea to get into a city. Well, you know Uber established it, right? You just go to the city, you launch the service, and talk about it with the city after that. And we…”
Brad BaoJun 14, 2019▶ 26:4020VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
AssertionNot checkable as stated
Lime captures majority market share with only half the deployed fleet
“There are many markets that we are half of the fleet that will have way more than half of the market share that representing it.”
Brad BaoJun 14, 2019▶ 11:5720VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
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