“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.”
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 Patrick Byrne
Opinion
Patrick Byrne claims the SEC is a captured regulator for Wall Street
“The SEC is what economists call a captured regulator. You know, society sets up regulators to protect us from certain industries, but it's a standard feature of regulations, since the first regulator, the Interstate Commerce Commission, that they become captur…”
Patrick ByrneJan 2, 2019▶ 22:36a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
Opinion
Patrick Byrne believes the crypto revolution is bigger than the internet
“I think the crypto revolution is even bigger than the internet.”
Patrick ByrneJan 2, 2019▶ 29:37a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
PredictionNot checkable as stated
Crypto will disrupt traditional political institutions and government functions
“The crypto revolution is going to disrupt all kinds of political institutions that, that you really, we just have to wake up and remember They didn't come out of the burning bush.”
Patrick ByrneJan 2, 2019▶ 29:53a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
PredictionDidn’t hold up
Patrick Byrne predicts a 2008-level economic crisis within two to three years
“I also think there's going to be quite soon a big, in the next two or three years, a big disruption in our economy. I think in oh eight or worse is going to happen, and with each disruption, people will shift farther into online, and then it ratchets.”
Patrick ByrneJan 2, 2019▶ 34:45a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
AssertionNot 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 ByrneJan 2, 2019▶ 6:43a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
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 ByrneJan 2, 2019▶ 10:18a16z Podcast | Wall Street's Most Hated Man -- A Conversation With Overstock.com's Patrick Byrne
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