thecasefornewyork

The Case for New York

I was recently invited to give a keynote at the French Touch conference in New York. Using some of the analysis provided by my friend Nick Beim at Venrock, I showed that New York is now the second largest Internet ecosystem in the US. I explained how that came to be and why it’s sustainable…. Read More

team

The used car buying and selling process is broken and we are going to fix it!

The used car industry is massive. There are 40 million used cars sold per year in the US representing $320 billion in value and $70 billion in industry revenues. The average household buys a $8,000 used car every 3 years. This is the second largest household expenditure after housing. Given how massive the industry is, it’s shocking how awful the used car buying and selling process is. To sell a car online, owners have to endure the pain of taking pictures, describing their car and posting them on Craigslist, eBay Motors or Auto Trader. They have to receive people at their… Read More

My first interview in Spanish!

I had the pleasure of being interviewed by Emprendedor Universal … in Spanish! They asked me to relate my entrepreneurial journey, focusing on the challenges I faced along the way. I also shared what I have been up to since leaving OLX along with advice for budding entrepreneurs. If you want to hear me embarrassing myself in Spanish, you can listen to the interview at: http://emprendedoruniversal.com/fabricegrinda/ It’s also available on iTunes at: https://itunes.apple.com/us/podcast/12-fabrice-grinda-angel-inversionista/id865252986?i=313805747&mt=2Read More

Fantastic presentation on customer acquisition

My good friend Saar Gur who is a general partner at Charles River Ventures just posted a brilliant presentation on customer acquisition. He explains that most startups fail because they don’t acquire customers profitably. This goes to the heart of how Jose and I invest. As I mentioned in Why we play Moneyball rather than Powerball, we care deeply about unit economics. We want you to show us that even at a small scale your long term value (LTV) per customer is greater than your customer acquisition cost (CAC). In fact, we don’t think a business… Read More

The Case for Optimism

We live in difficult times. Financial crisis, sovereign debt crisis, euro crisis, Syrian conflict, global warming. We are bombarded nonstop with despairing news. In Europe, the mood is morose and the prospects seem dire. The general consensus is that things are going to be bad, the only conversation is around how bad things will get. Well, I have good news for you for the consensus is dead wrong! We are in fact facing a wonderful future and I want to explain to you why. Let me take you back in time to the late 1970s for they seemed to mark… Read More

Video of my LeWeb Keynote: The Case for Optimism

Last year I finally resolved my internal cognitive dissonance between my profound optimism about humanity and my pessimism about the near term economic outlook in the West. It’s ultimately hard to be pessimistic given the long term secular trend of technology led productivity growth. Moreover, as I mention in The Economy: An Optimistic Thought Experiment, and as I tried to point out to Montebourg, most of the economic problems we are facing are reasonably easily solvable. We are just missing the political will to fix them. Last June over dinner at Martin Varsavsky’s farm… Read More

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LeWeb 2013 Interview of Arnaud Montebourg

Loic Lemeur asked Jeff Clavier and me to react to Arnaud Montebourg’s presentation at LeWeb and ask him a few questions. I suggested France might adopt some measures that would make the economy more efficient, while preserving the French progressive social model, but I fear he misunderstood the question. It’s a pity given that France has so much potential: a talented, creative and productive labor force, a reasonably large market, good entrepreneurs and angels. There is a real opportunity for France to take a page from the Nordic countries: capitalizing the retirement system, promoting labor market… Read More