TOMS founder Blake Mycoskie discusses an earlier startup, an online driver's education platform created to engage teenagers.
Assertion Supported
TOMS manufactures over 40% of its donated shoes in recipient countries
“Back in 2000, I think it was, no, 12, actually, we made a pledge to manufacture as many shoes as we could in the countries that we give in, and today, we're manufacturing over 40% of our giving shoes in countries like Kenya, Ethiopia, India you know, lots of d…”
Insight
Mycoskie: For-profit giving models are more sustainable than charitable donation drives
“Dependent on other people's donations, and what if they don't do it, and, you know, that doesn't seem like a very sustainable way to give these kids shoes, and then that led to, you know, well, what if there was a business, you know, instead of a charity and d…”
Insight
Sunset Boulevard billboard prices are driven by studio ego, not CPMs
“Because there's no way that could make sense. On a, you know, cost per thousand or an advertising metric. I mean, there's just not enough people that drive on sunset is what I was thinking. And so the reason that I basically came up with in my mind was it had …”
Insight
Pitch property owners an established business, never just an 'idea'
“The thing you don't ever want to do, especially when you're 22 years old, and you're trying to talk to, like, 50 and sixty-year-old people who own apartment complexes, you don't want to use the word idea. Because if it's just an idea, then it's like, you're no…”
Insight
Business models are more sustainable than relying on recurring charitable donations
“That's, once again, dependent on other people's donations, and what if they don't do it, and, you know, that doesn't seem like a very sustainable way to give these kids shoes, and then that led to, you know, well, what if there was a business, you know, instea…”
Assertion Supported
TOMS pioneered the one-for-one giving business model in the fashion industry
“No fashion company or shoe company had ever, like, given something away every time they sold it”