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Overstock

6 statements across 1 episodes · 1 bullish · 0 bearish · 1 people on the record · first statement Jan 2, 2019 by Patrick Byrne · across every show →

Everything said about Overstock, oldest first

Jan 2, 2019
Assertion Not checkable as stated
Overstock liquidated 19 startups funded by the VCs who rejected Patrick Byrne
“We went in and liquidated 19 companies that had been funded by the same Fellows who turned us down.”
Patrick Byrne Jan 2, 2019 ▶ 13:03 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Jan 2, 2019
Assertion Not checkable as stated
Overstock ran a $500M+ business with just 13 developers in 2005
“We actually didn't have the skill sets back in Oh five Oh six. We had 13 developers. We were a five, six hundred million dollar company with 13 developers.”
Patrick Byrne Jan 2, 2019 ▶ 6:43 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Jan 2, 2019
Disclosure
Patrick Byrne removed Overstock tech leaders who resisted cloud adoption
“It really ultimately it was two or three years ago. I had to remove some people who were quite obstructionist to moving into the cloud. And the new leadership has been much more receptive.”
Patrick Byrne Jan 2, 2019 ▶ 10:18 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Jan 2, 2019 bullish
Assertion Not checkable as stated
Byrne: Overstock is 10% cheaper on average than Amazon
“In many ways, we're like Amazon, except I like to say about 10% cheaper on average, and with better customer service, as several industry groups have certified.”
Patrick Byrne Jan 2, 2019 ▶ 16:29 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Jan 2, 2019
Assertion Contradicted
Overstock launched a partner drop-shipping marketplace years before Amazon
“And thus began our partner program. We were the first to the market with it. Amazon followed a couple years later.”
Patrick Byrne Jan 2, 2019 ▶ 15:48 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Jan 2, 2019
Assertion Supported
Byrne: Overstock never physically touches 90% of products sold
“Now 90% of our business, we never actually touch.”
Patrick Byrne Jan 2, 2019 ▶ 15:55 a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
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