Instacart

“Instacart knows what a user has bought in every single visit to the grocery store. The brands have no idea what's happening at Kroger's. Instacart knows exactly what was bought by every individual.”

“So using a variety of machine learning techniques, they were able to shave eight percent of the time that it took for a shopper to get through a supermarket and to your house.”

“Instacart uses prediction techniques to help get shoppers through the grocery store faster. They went through this in two waves. Wave one was they used traditional machine learning techniques. Things like gradient boosted decision trees. And they got a three o…”

“And the modern example of this, of course, is is one of our portfolio companies, Instacart, where You know, today the company has awesome deep relationships with the nation's top grocers. But when the company first started they built an app. They had an amazin…”

“The Instacart CapEx, instead of building warehouses distribution centers, buying trucks, you know, inventorying them. They literally are buying servers. I mean, that's their capex, because the employees bring their own mini computers, smartphones, they bring t…”

“Early in people marketplaces, you had the horizontals of TaskRabbit or Zarli, where you could ask people to do anything, and the paradox of choice and the lack of optimization against specific verticals, no one knew what to do with it, so they really didn't do…”

“The interesting part is that each of these drivers on DoorDash or Instacart or elsewhere, they bought a smartphone for themselves, play games or do other things, and now suddenly this becomes this tool that allows them to tap in to this network. And it allows …”

“The grocery store who is providing Affordable delivery in a very timely way, instead of cart, you can get groceries as quickly as within an hour take share. And so the grocery store on the same physical capex is getting more business, and as a result, you get …”

“So, so I'm violating one of my hard and fast rules in the sense of card investment, which is don't compete with Amazon.”

“One partnership that we saw, saw take off was with Instacart and a CPG company. And the CPG decided to pay the shipping for, pay the delivery fee for an Instacart purchase if there were a certain amount A dollar value of items in the cart. And they saw a great…”

“They went back to the same grocers and are cutting deals, and now I believe well over half of their entire deliveries are not marked up. They're through deals with grocers like Whole Foods”

“Pretty much any company that's starting today is almost de facto using Stripe.”

“Why the CBG companies were so interested in that is it's the first performance marketing they've ever seen.”

“We made the Instacart investment in the belief that the grocery stores are there. It's distributed. They have distributed little warehouses.”

“One of the key things that was compelling about Instacart to us is that they have a revenue stream from the consumer, revenue stream from the grocery retail partner, and a revenue stream from CBG companies who are interested in accessing the consumer.”

“Instacart and DoorDash are still our customers today. Uber Eats and Uber still our customers.”

“I went to Whole Foods, and I tried to see what percentage of the people coming are paid shoppers versus individual shoppers. How many are holding an Instacart badge or a DoorDash? It was actually 17% over a period of two hours. That was zero two years ago.”

“I've got agents ordering on Amazon, ordering on Instacart, yeah, dealing with or like, you know, if there's, like, an activity your kid has, and there's this laundry list of things you're supposed to have ready, I'll, like, send that to the agent and be like, …”

“Grocery shopping is 100% agentic, like, for anyone who uses Instacart. Like, you tell your Instacart shopper, go bring me milk. You don't think twice when they say, oh yeah, you wanted whole milk from Organic Valley, but I found some other brand, and here it i…”