Jacobs: 99% of building products distribution companies are 20 years behind in tech
Brad Jacobs · Brad Jacobs: How To Build a Billion Dollar Company · Mar 19, 2024 · at 1:35:04
Brad Jacobs explains why he chose building products distribution for his venture QXO, critiquing the industry's widespread lack of modern technology adoption.
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“I found a company, an industry that's got 20,000 companies, and there's about six or seven that are doing really cool things in technology. And that's pretty much it. And I hate to say that so negatively, but I think that's an objective assessment of it. I think there's half a dozen or so companies, the biggest ones, that are a couple of medium-sized companies too, but mostly the biggest ones, who are approaching technology in the same spirit That we approach technology. Now, we're gonna double down on that and spend a lot more money and have the best technologists involved, like we always have in our companies, but if you look at the 99% of all the other companies, they're where other industries were 20 years ago.”
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