Eddy Lu
Co-Founder & CEO, GOAT Group. On 1 show, 1 appearance. The Shows tab opens the full record on each.
founderexecutiveLinkedIn ↗goatgroup.com ↗
Eddy Lu is the co-founder and CEO of GOAT Group, a platform operating authenticated footwear and apparel marketplaces including GOAT, Flight Club, alias, and Grailed. Prior to founding GOAT, he launched the startup Grubwithus, owned Beard Papa’s dessert franchises, and worked in consulting and equity research.
1shows
1appearances
14statements
1resolved
1supported
0contradicted
100%fully supported
5said about them ↓ Everything Eddy Lu said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Eddy Lu: GOAT faked early seller listings using different Home Depot tiles
“In the beginning, we were the only seller since no seller would wanted to list on code because we were unknown. So what we did is that we went to Home Depot and bought a bunch of different tiles. So you see, you have like the wood tile, those one foot by one f…”
Eddy Lu: 30% of Yeezy sneaker listings on eBay are counterfeit
“You go to eBay today and type in Yeezy, and about 30% of the listings aren't real.”
Eddy Lu: Prime physical retail rent is equivalent to digital ad spend
“Well, for me, I don't think it impacts margin structure too much because while there's store overhead, if the store is in a Class A location, it's no different than spending money on Facebook marketing. Instead of spending it on digital ads, you're spending it…”
Eddy Lu: Founders should execute daily micro-pivots when things are not working
“You make micro pivots even when you're building a startup and you have that initial vision. So for me, it's, you know, whether it's a micro pivot on a daily basis or a big pivot, if you know that something's not working, Just change it up.”
Eddy Lu secretly bought shoes on GOAT to fake their first sale
“And I went in and secretly bought a pair of shoes so that I could tell the team, Hey guys, we sold something today.”
Eddy Lu: GOAT rejected a $5M Series A offer post-Y Combinator
“We went out to raise, and we actually got a five million dollar offer from a top tier VC, and it was sitting for us, waiting for us at the table, and, you know, we saw the valuation. It was a fair valuation, but we actually said, Hey, you know what? We're goin…”
Eddy Lu: Operating a bakery is definitely not a passive income source
“Let me just say that there are very few passive income opportunities, and bakeries are definitely not one of them.”
Eddy Lu: Half of GOAT's Y Combinator cohort split over co-founder friction
“Half our white combinator batch broke up right after the batch because of co-founder issues”
Eddy Lu: Co-founder breakups stem from ego and fighting over CEO titles
“One place where I see that it goes wrong is ego, to be honest. When we saw our Y Combinator batch, there was a lot of people who wanted to be CEO because that was the position to be, rather than saying who's the best person to be CEO.”
Eddy Lu: High customer acquisition costs made Grub With Us unviable
“What we saw was that it cost so much money to acquire a customer because of all those friction points that we knew that, This wasn't going to be a just a mass market business.”
Eddy Lu: Grub With Us pivoted to GOAT with $1.5M remaining
“We raised over seven million dollars and had only about one and a half million dollars left.”
Eddy Lu: GOAT gained 100,000 users in one week during Black Friday
“So that week leading up to black Friday, we had over a 100,000 users sign up and it crashed our site every single day.”
Eddy Lu: Physical sneaker retailers only stock around 200 shoe models
“If you go into a sneaker retailer today, there's about 200 shoes that you can buy, and those are shoes that didn't sell out, that are just kind of the sale items that they couldn't move.”
The other half of the tape: Eddy Lu's own voice is left out of every number here. Other people bring the name up 5 times in 3 episodes across the shows. every mention, with the transcript →
Who brings them up most Harry Stebbings 5
Every mention by year
tap a year for its mentions
20VC 5
2018 5 mentions in 3 episodes 2 per episode
- 20VC: Index's Danny Rimer on His Biggest Lessons On Price, Ownership, Board Dynamics & Building Consumer Businesses from Backing The Likes of King, Skype, Farfetch, Glossier and more...
- 20VC: How The Best Founders Approach Bet The Company Decisions, How to Put Your Board to Work & How To Optimise Strategic Thinking on Boards with Maynard Webb, Founder @ Webb Investment Network & Everwise
- 20VC: The Metrics That Matter In Early-Stage Consumer, Why Moats Matter More Than Brand Today and How VCs Deal with S*** Hit The Fan Moments with Jason Stoffer, Managing Partner @ Maveron
- every mention in 2018, scene by scene →
One line per show, most statements first. The link opens Eddy's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| 20VCLEDGER | Co-Founder & CEO, GOAT Group | 1 | 14 | 100% 1/1 | full record on 20VC → |