IFS Explores Nvidia Jetson and Metropolis for AR Field Guidance
“We're exploring with the use of NVIDIA, Jetson technology and the Metropolis platform to give augmented reality to those technicians so that when the technician is performing a task, you know, with that edge-based chip and an LLM that can go onto that chip, st…”
Israel: Real estate owners are the last to test new software products
“Within the real estate industry, it was a very complicated go to market in the context that real estate owners are the last to test new products. They're the last to be the first hamster on the wheel. They don't really want to experiment with picks and shovels…”
Israel: Metropolis launched by directly leasing two Venice parking locations
“And the easiest way to go about doing that was to actually lease locations. So instead of asking an asset owner to take risk, we took the risk and we leased locations. We started with a location in two locations in Venice that we leased from real estate owners…”
Israel: Metropolis has reached 4,600 managed or leased locations
“Now we're at M 4600 and it's untenable.”
Israel: Metropolis acquired Premier Parking generating around $10M in EBITDA
“We bought a parking operator based out of Nashville, Tennessee, probably the 11th largest parking operator in the United States. Company was doing around ten million dollars of EBITDA.”
Israel: Metropolis increased Premier Parking's gross profit by 2.1x post-acquisition
“And we quickly found that we had 2.1 X the gross profit over that period of time.”
Israel: Metropolis employs 23,000 people following SP+ acquisition
“We have 23,000 employees now.”
Israel: Metropolis Has 20M Users, Adding Over 1M Monthly
“As we were scaling to at this .20000000 Americans on platform, as we scale to every one to two seconds, someone signs up on our platform, 24 hours a day, seven days a week, 65 to 80,000 new members every single day. At this point, we're scaling to north of one…”
Alex Israel: Metropolis added UX friction because the app was too seamless
“It was the moment when I realized the technology that we were deploying was so seamless, was so frictionless at first that the user didn't realize they were using the product. That we had to insert more friction into the funnel.”
Israel: Metropolis measures success by time spent not using the product
“Think about how unique it is that as a product, we don't measure ourselves by how much time you spend using our product. We measure ourselves by how much time you spend not using our product. We want you to sign up one time and never use Metropolis again in th…”
Lessin: Startups with transformative tech should buy customers, not sell SaaS
“So if you have an actually transformative technology and you can swing it, you're better off buying your customers. Right. And then deploying your technology, but that credit that's predicated on actually having a better technology.”
Hays: Metropolis Bought a Major Garage Operator to Monetize Parking SaaS
“So Yoni and Slow's big bet was Metropolis. Which was a SAS company for parking garages. And they sort of realized that they realized that there was sort of like a terminal sort of value for their business. And they were like, why don't we just become an operat…”
Metropolis paid $1.7 billion to acquire parking lot company SP Plus
“They paid 1.7 billion for a company that owns parking lots.”
Ameera Shah treats investor capital as a liability, not an asset
“When you invest in Metropolis, this is not an asset. It's a liability because I have your money and I fully recognize that I have your money. And I have to return it with returns. So it's a responsibility that is on me and my company to make sure that you as a…”