Insight certainty 4/5 debate potential 2/5

Ankur Jain: Innovation comes from applying models across industries, not thinking outside the box

Ankur Jain · How This Founder Wants to Reward You for Paying Rent · Apr 4, 2023 · at 23:23

Ankur Jain, founder and CEO of Bilt Rewards, discusses how he applied established insurance and loyalty models to create Rhino and Bilt Rewards.

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“People love to use that phrase, think outside the box. Like, I hate that concept because thinking outside the box implies that you're just smarter than everybody else at that specific space. That is almost never what drives innovation. It's almost always that you just look at the same problem from a different box.”

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More from Ankur Jain

Opinion
Jain: Founders should avoid early VC because partners lack operational understanding
“I think entrepreneurs should do everything in their power to not allow venture capitalists to come into their business. VCs don't generally understand how to run a business. They generally don't understand what your business needs are, and their incentives are…”
Ankur Jain Apr 4, 2023 ▶ 46:33 How This Founder Wants to Reward You for Paying Rent
Assertion Partly supported
Ankur Jain: Airlines and hotels make their money from loyalty programs, not core operations
“Airlines and hotels, I know you did a show on this, make all their money on the loyalty program and their credit card programs, not on being an airline and hotel... Delta, United, and American only exist because they make money on loyalty programs.”
Ankur Jain Apr 4, 2023 ▶ 24:34 How This Founder Wants to Reward You for Paying Rent
Assertion Supported
Jain: Major airline market caps are lower than standalone loyalty programs
“When you combine the card business and the loyalty business with their airline business is worth less because the airline business loses so much money that the overall company Is worth less than the actual loyalty program in bank business.”
Ankur Jain Apr 4, 2023 ▶ 30:05 How This Founder Wants to Reward You for Paying Rent
Prediction Open · timeframe Apr 2033
Ankur Jain: Commercial Moon mining and transport will occur in 5-10 years
“Now what we're doing with Moon Express is saying, how do you create the last mile solution to get, you know, whether it's satellites positioned or whether it's, you know, going to the moon and actually mining the moon for, you know, helium three or platinum an…”
Ankur Jain Apr 4, 2023 ▶ 8:58 How This Founder Wants to Reward You for Paying Rent
Insight
Jain: Starting a company with a business plan sets founders up for failure
“I think one of the biggest problems with business school is it loves to tell people to set a business plan with objectives and goals. And like you have, the second you start with that, you have set yourself up for failure.”
Ankur Jain Apr 4, 2023 ▶ 13:50 How This Founder Wants to Reward You for Paying Rent
Opinion
Jain: Silicon Valley Has Damaged Its Goodwill and Trust With Regulators
“Silicon Valley has not done itself any favors in building goodwill and trust with the regulators.”
Ankur Jain Apr 4, 2023 ▶ 40:00 How This Founder Wants to Reward You for Paying Rent
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