Rapid Response: Launching a $500b startup, w/Jet.com's Marc Lore
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 21 October 2021
⏱️ 27 minutes
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Summary
Since stepping down as Walmart’s president of e-commerce at the beginning of the year, billionaire entrepreneur Marc Lore has had a busy year of big ideas. In the spring, it was announced that he reached a deal to purchase the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx, alongside Alex Rodriguez. And then last month, he outlined his plans to build a new American city called Telosa, centered around sustainability and inclusion. Lore, who co-founded Jet.com, an e-commerce company that sold to Walmart in 2016, says that he approaches these moonshot ideas in the same manner: by reverting to the fundamentals and naming the mission and values. "VCP: vision, capital, people,” he says. “If you get VCP right, everything else falls in place."
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Transcript
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| 0:00.0 | Hey listeners, it's Alex Morris, a star writer here at Massive Scale. |
| 0:04.1 | Every week on Massive Scale Rapid Response, you hear real insights from business leaders, |
| 0:09.5 | and many of you have said that these episodes help you make more informed decisions in fast |
| 0:13.9 | changing situations. |
| 0:15.6 | So we want to tell you about another fantastic business podcast that can help you stay |
| 0:20.4 | in the know. |
| 0:21.4 | It's called Business Daily from the BBC, and it's all about the daily drama of money and |
| 0:26.3 | work. |
| 0:27.3 | From the environment to the world economy, you'll hear all about the rapidly evolving |
| 0:31.5 | world of business on a global scale. |
| 0:34.2 | There are new episodes of Business Daily every day, Monday through Friday, and you can listen |
| 0:39.0 | wherever you get your BBC podcast. |
| 0:41.6 | Again, that's Business Daily from the BBC. |
| 0:45.0 | I'm learning to play basketball now. |
| 0:47.8 | Wish I thought it was appropriate since I bought a team, and the coach has me doing a lot |
| 0:52.5 | of air shooting, no ball, and it's just foundational, foundational, foundational. |
| 0:57.0 | In business, a lot of times people like shoot with the ball without doing the fundamental |
| 1:01.0 | work before. |
| 1:03.7 | We need worthless land. |
| 1:05.4 | Let's find 200,000 acres. |
| 1:07.8 | Let's get 5 million people to move there. |
| 1:10.8 | The land would be worth a trillion dollars. |
... |
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