Costco

“Why aren't I buying more insurance products at Costco or Amazon or through Facebook Messenger? And so, like, that will come.”

“The problem is actually waiting in line to pay. That's the problem. And literally, it can take half an hour, and the way, the reason why you abandon is not because you don't have your payment instrument, it's right in your pocket. It's completely different tha…”

“In his first two years at Netflix, he had to work out of the home because he couldn't afford an office, and he used to drive down with his crew to Costco and, you know, buy 5000 copies, and, you know, we would load them up and mail them out.”

“So when we say it doesn't work, I think it is an incredible channel for iterating on a product. I think it drives innovation. I can find my consumer base and I can test a new product. Next month I can test a different product. That's very different than the of…”

“We'll do twenty-five million this year, but that's not the important number. Because we don't spend money on advertising or anything, makes 12 to fourteen million a year, and we just added Whole Foods, we just added Costco, we're adding more and more, you know…”

“It's funny, we, we've met with the one of my partners met with the Costco board and like pitched them on financial services.”

“And if you look at their net income, It's basically the number of memberships that, like, they have, like, 50 plus million members, it's some huge number, times the price of the membership. That's their net income. And then everything else just kind of is a wa…”

“They're getting sued by Lululemon right now because they made pants that were better than Lulu's pants that are much, much cheaper, but they're actually much better.”

“It is a very, very unique business model that is somewhat of a, it will stand the test of time and I think it's AI proof.”

“Things like Costco and Walmart are the two largest sellers of organic products in the country.”

“When you find a couple of executives and back them before there's a company, before there's a, Dollar of revenue. Before there's an order. You feel as much as they do that you're a founder.”

“Jim was one of the best executives I've ever met. Maybe, maybe the best.”

“Starbucks too, by the way.”

“So the more value we give, so whatever, if Costco can go find a new source for batteries and save a nickel, a hundred percent of that nickel gets lower prices. None of it goes into higher margin.”