Everything Frank Mycroft said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Mycroft: On-demand startups need 5-10x minimum scale before unit economics focus
“Take what you think is your minimum viable scale, right? That the minimum level at which you've got the density to make money on a consistent basis. And you should probably multiply that number By five to 10.”
Mycroft: Copying successful business models into new verticals leads to failure
“I think that any entrepreneur, any starting company that is trying to simply apply what was a successful business model in a different space to their new vertical is setting themselves up for failure.”
Mycroft: Scheduled batch delivery makes Booster Fuels cheaper than gas stations
“This allows us vast levels of efficiency in our operations that we wouldn't have if we were trying to do this purely on demand, and that helps us keep our costs very low, and it lets us actually be more affordable than a gas station.”
Mycroft: Focusing on unit economics too early stalls on-demand startup growth
“If you focus too soon on the unit economics, you may never get to the scale and the growth that you need for that engine to actually continue on its own.”
Mycroft: Gas station distribution is the primary barrier for carbon-neutral fuels
“And what's interesting about these solutions is that the number one thing they struggle with is distribution. It's very hard to get into a gas station. It's very hard to get your solution blended into the mix. And no gas station wants to put in another undergr…”
Mycroft: Starting a company is irrational unless driven by deep obsession
“You should never start a company. It's actually a pretty irrational thing to do from a probability of outcome perspective, so only do it if it's rubbing at your soul and eating at you every day that you're not going out and creating this idea.”
Mycroft: Outsider founders require deep naivete to disrupt unfamiliar industries
“For those entrepreneurs who don't know the industry players, don't know the complexities of the business that they're trying to disrupt, you need a lot of naivete to actually jump in and do that.”
Mycroft: Regulated startups should target innovative regulators first
“I also think that the regulators are people too, and some of them are late adopters, but some of them are early adopters or even innovators, and what you have to do as a startup in any regulatory complex environment is find those regulators that are the innova…”
Mycroft: Parking lots will become hubs for refueling, servicing, and grocery delivery
“We view parking lots as an underutilized asset, especially in this day and age with real estate prices being as high as they are and mobile technology allowing you to Pinpoint locations very precisely, and so we believe that there will come a day where you can…”
Mycroft: Fuel represents roughly 10% of all consumer spending
“People forget that about 10% of all consumer spending is fuel.”
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