connecting we'll see how the morning then it's been good how how's your morning been it's good all quiet here which is good cold in New York yeah it's it's cold here all right so we're live um and uh it's a two cup of coffee morning look at everyone joining this is great yeah hello everyone um feel free to write messages in the chat um if you have any questions but uh Scott and I uh will start here in a minute after uh we give a chance for everyone to come in but uh yeah excited excited to have everyone um pump to check us out thanks for the invite yeah of course I'm uh I'm excited to ask you very hard-hitting questions about Uber you know and uh can't wait we're gonna nerd out on Marketplace it's gonna be great yeah um all right few more minutes I'm going to put on Twitter that we're uh doing this um and uh hopefully all the folks show up um but look at all these people uh Talia Michael Joe W guy thank you for coming um it's great to have you uh all right thanks Joe us too yeah all right right well we can start diving in um so I guess why don't we just do a quick intro um Scott do you want to you want to introduce yourself I mean you're the famous one you've gone on 20 VC now and all of that so I'm just you know I'm just me why why don't you go first and then I'll I'll po all right all right I'll go first uh well H welcome everyone um it's good to see everyone uh Colin Gardner I've uh I guess self-proclaimed Marketplace geek I've been uh doing it for Marketplace is on the operating side now for like 15 years which is crazy and I feel old I also learned today that weo started 15 years ago today um so you know love the business of overnight successes um but yeah so I've been doing marketplaces now I run um a fund called Yonder which does early stage Marketplace investing preseeding earlier um and then I also advis and consult marketplaces I've worked with I think now 50 plus different marketplaces seen it all um and uh write uh a newsletter uh called Marketplace memo which just sends out Weekly News on marketplaces and also try to do some long form content uh about the future marketplaces and maybe we'll talk about uh my last one Ai and marketplaces um and what that means but uh Scott when you when you take the floor that sounds awesome can't wait um so I'm Scott uh investor and adviser based in New York City um joined Uber uh as employee number 99 a long time ago um spent six years SK sing that business uh when I joined we had about 10 cities um and when I left we were doing about $10 billion in annual revenue so it was an incredible ride um love the experience and since then have been spending a lot of time uh thinking about marketplaces what they are what they should look like long term and you know now just helping Founders scale their businesses and it's been really fun nice is there um any kind of business you particularly look for like where you're feel like you nail it I think for me it it's really founder driven right like I'm not one that pretends to know or have like an informed view of like hey this is going to be the next 10 or $50 billion company I think like the best companies are sort of brought by the founder and that it's you know my job to be able to help in whatever way that I can so I think pattern matching is interesting some of the things that I think are particularly interesting right now is I think B2B marketplaces are super interesting um I think a lot of categories have been done in consumer um but in B2B a lot of the payments are still offline a lot of the flows are really uh manual so I'm excited for how AI can kind of like speed up a lot of the transaction um I like vertical SAS um particularly in like non- larget Industries or unsexy Industries um so you know I I love businesses they don't always have to be sort of like Venture scale and those are the things that I kind of uh nerd out over nice yeah I mean the I know Venture scale is such like a like a small Niche right in the scheme of things and there's like majority of every other business in the world is not Venture Capital um but uh yeah well we can talk about like maybe some of your time with Uber which is you know I guess one of the most iconic Uber or VC backed businesses out there um I guess like you know like looking back on it I'm really intrigued like you know when you first joined was it obvious for you that it was going to be such a big success at the time no no anybody and any body that says that they knew that Uber would be 140 or 150 billion dollar company um was lying right like I think like the thing about this thing is you know that it's going to be an incredible company and in that stage a lot of companies are binary either they'll go on to have great success or you know they'll die but you know I think like beyond our wildest dreams like yeah like it'll be a hundred billion dollar company but like the reality of getting there was just very hard um you know we were in 10 cities at the time it was very small it was very we getting banned in every single city um there was a lot of sort of like questions about the business could we start with black cars and then move down Market into uberX and Uber pool could we sort of like scale the model um in different cities across the US um and globally versus different competition could we you know finally get the unit economics sort of like under control and stop burning money left and right there's a really popular chart that's gone around over the last week that's been like Uber's cash flow over time and it and it looks great until you look at get like the y axis and you see like oh wow there's a lot of money that went into this thing but you know I think for Uber it was hey like we're playing the game on the field and need to fight these competitors but at the time I joined my calculus was kind of simple I was doing consulting at you know a big firm and you know if I stayed there for a couple of years my MBA would be paid for so I figured hey like if this uh if this goes well maybe I'll be able to pay for business school and if this doesn't go well at least I'll have a good story to write on my application so um you know it was it was something I really wanted to do but if you ask me like 10 years later would be looking at a $100 billion company I think that would have been hard for anybody to see yeah that that totally makes sense and I do I mean I guess what what uh like what got you like in the door though I mean like you know it wasn't immediately obvious that it was going to be a success like what like what was the like the hook like what sold you on joining Uber I think it was a couple of things one the people were just incredible um I truly believe that Talent density is the most valuable asset and extremely rare um but you know when you're 23 and you join something and you look around and you see people that are brilliant left and right that's an incredible sort of experience and it's something that's easy to take for granted every conversation that I had with early folks there just kind of got me leaning in further and further and then the other thing was just kind of a curiosity around the market as a consultant I was Trav traving every Monday and Thursday and you know I had a driver in Atlanta that would take me to the airport and drop me off and sort of as I was going through the process I was like Hey like what are you doing during your downtime like is there a hole for something like this and you know the more like I kind of like pulled on the thread it got really interesting and then I think the third thing was the product experience was just exceptional right you pressed the button you got a ride this was 2011 2012 it was still so early in like web um and I think in in terms of like smartphone apps that it it was just like a magical experience and like you know I didn't see any numbers like I had no idea how well the business was doing or you know how much trouble was sort of like lurking inside and like every startup is chaos and you know I think just not knowing that helped make a good decision yeah no I I mean I look back at all the startups I joined and almost your naivity is like to your advantage by just looking over what is wrong and looking at what can go right in some very basic sense I mean I looked I looked at 50 different startups right I was flying out to San Francisco on the weekends and meeting a bunch of startups fairly early and nothing really clicked and you know you look back at that list now and you know Uber was kind of like the one that really succeeded um but you know I think it's it's a combination of sort of like blind luck um and sort of also you know working hard yeah totally I I think my if I recollect my first interaction about Uber was uh in we lived in San Francisco for about 12 years until we moved to Austin here uh in 2017 uh but my wife rode a horse and there was this woman that rode a horse there and her boyfriend was at the um at the barn as I was there too and we were just talking and I was like oh what do you do and he was like oh I work for this company Uber um it's that Dom nuchi um and so you know very early engineer and so we were just talking about it I'm like oh I got to go check this thing out and so that that was kind of like how I even just got like figured it out and like started using it and then started losing engineers at every other company that I ever hired them for um so you know thanks Uber but uh no about that D yeah um I just remember the first time using it and like I do think that there was that magic moment right like where it just showed up um granted the trip was very subsidized so that was really awesome too at the time but it was like you know being in San Francisco in that moment was like very unique time and place um to just be able to like take advantage of like those things like Airbnb Uber that were popping up then so yeah um so question on like uber I mean like a lot of times you hear this Market by market Playbook from people they're like oh you know the Uber model this is how you should do it for your Marketplace good is I guess like we've heard a lot about what like successful model like I'm intrigued to hear like what were the things that you guys tried that you would not recommend doing or that didn't work like materially I mean I think that in terms of like the market launch Playbook there's been like a lot of interest in that and you know maybe if it's interesting to folks I put something together on that at some point um there were a lot of things that we got right in there right but like we were playing a very different game than I think a lot of other startups should be playing right like we were operating in a really competitive market if we didn't go other people would go and sort of like go fast like just in the us alone there was ltft there was sidecar there was Halo um and probably a few others that sort of I'm forgetting so like we needed to go fast and sort of like and sort of establish ourselves in markets very quickly I think like if I were to look back on sort of the Playbook and like some things that like we got wrong I think that a lot of times we we on the regulatory side it was hard to know like should we go into this Market should we not into this Market in the early days and there were a couple markets that we had to kind of like pull out of and then come back later to but um I I think that that was hard and then I think the other thing is just like the incentive spent um on the driver side was a very competitive market and sort of what what I always tell people about Uber is like people think it's about Riders but actually it's about drivers if you're a rider and you take three or four trips a month or you're a very active person and you take three or four trips a week um you know that driver is probably doing a 100 trips a week if they're really active so like the lifetime value of these drivers if you can get them to stick um you know beyond three months or 90 days is just very high so I think understanding like what the things that you could do to lean into the driver experience more um and not rely so heavily on subsidies is like if I could wind back the clock that would be something that I that I'd be more thoughtful about um you know I think that I think that Lyft actually did a much better job um early on in building like a driver community and having a relationship with the drivers than Uber did um and I think that that's something like I wish we could go back and do a little bit differently that's interesting I want to like pull on that thread because I have um I do think like subsidies or discounts or things like that for companies almost like gives you false product Market fit right um and I guess like the question I have for you is like there there's I guess there's two sides of that Co one is do you getting product Market fit like signal from that but are also you attenuating someone to using your product because they get it cheaply and then they can you know they get used to it and so I guess that's the question do you do you think it served that purpose like successfully or could you have gotten where you needed to be without it I think for most companies that is true where you know you really know if you have product Market fit when you pull off to subsidy um and you see like what your retention curves look like I think for Uber and ride sharing more broadly there was just wild product Market fit that does not exist in other categories right like you know to a degree like we had like chat GPT type product Market fit where you know you would try a ride and you know this would be so much better than like a taxi or like public transportation or like a li or or sort of like other options and you know you would want to tell your friends immediately like the word of mouth was really strong and I think that something like that is very rare um so like yeah Uber had to do the subsidies in order to compete and look at market share in like a given market like a San Diego or a Denver and Atlanta and if the subsidies weren't there like maybe Li would have caught up or the market would have equalized at like 50/50 but it was kind of like a prisoners dilemma where Uber's raising a lot of money lifts raising a lot of money DD grab and it's like if everybody's raising a lot of money and you're kind of like preparing for nuclear war like nobody's really going to pull back and be like oh like maybe we'll pull back incentives 30% and see what happens but at a point in time there was there was very heavy like price competition between Uber and lft where we would update our prices and Lyft would update their prices you know right after they'd scrape our website and understand like what the updates were in a given City and you know it would be like okay lift cut by 25% we'd cut by a little more and it would just be like a a kind of like matching thing I don't believe that on rides people are checking like dollars and cents to like you know this is 5% cheaper this is 7% cheaper and sort of making a decision on that I think people make decisions based on uh based on sort of like price if it's like more than like 10 or 20% or based on like ETA yeah I can see the ETA being like the thing that drives a lot of it right it's like you want the thing fast but it's like a marginal difference in dollars um there there was like so door Dash when they went public I I remember looking at like their LTB curves and I think one of the interesting things that they showed is like it doesn't you have to spend a lot to get people up on the usage curve for the product and then basically you can start pulling those subsidies away and it's just really a marketing game to keep them going over time on so I imagine that's pretty similar um for Uber and LIF like on what they experience right is like once you get people used to this and like away from whatever service they were using before a taxi or black car um just by itself they you know it's like it's hard to go back right it's just like the the solution is so much better um but I guess touching on um you know you were there with when Uber Eats went live and so like the first business you guys were in was ride share right and then ultimately into Uber Eats I think what we're uh what were some of like the market differences um between going like you know launching ride share versus launching Uber Eats I'm just really intrigued by that a lot we tried so many different things on eats that didn't work and then finally pivoted to a model that did but you know first I think door Dash is an incredible business they executed like very well from the beginning and sort of like ran their playbook and sort of uh you know own a lot of the market in the US and done like an incredible job I think for Uber there were a lot of things kind of going on um that you know lessened our Focus sort of on eats but when eats started I believe that you know it was similar to sort of uh thing in La where you know you had three or four meals they would book you know they would buy like out inventory of like 100 sandwiches 100 this 100 that they would assemble them in underneath like a parking garage um where like drivers would come and dispatch at like 11 a.m. to like 1:00 p.m. hour and they would kind of deliver them right and at the end of that like window it was like okay there's all this extra food I remember hearing stories of employees basically going and doing quality control so that when the food arrived they take like a thermometer and take the temperature and make sure we were doing everything right so it was just a very it was a very strange sort of business um but it was one that proved like hey this is interesting and like we should be in the food game there were a lot of other companies that were in the space there was Postmates there was caviar um there was door Dash there was GrubHub there was uh there were the sprig the MRI the spoon Rockets as well very competitive category um but you know I think like if you think about ride sharing being like an asset light business um while while eats like Uber Eats isn't a you know business where you have a lot of inventory the restaurants are taking the inventory risk it's harder to convince restaurants to be on if all this money is going to was unless you're buying out all their inventory so it's harder to sustain and I think the margins um just generally if you look at like the earnings of an Uber and a door Dash and compare it with like LT which is a more like pure Play Ride sharing or or just look at the segment breakouts between Uber and door Dash because lift is just a little bit different um you know the profitability and the gross margins on those sort of units is is just different right so you you have to do things a little bit differently so what's the Better Business is it a ride share or is it a restaurant delivery I don't know I mean if you asked me uh like three years ago I would have said ride share um actually if you asked me during Co I would have said all in on eids if you ask me today like it might still be eids because we're headed to a driverless world and there are a lot of questions right about sort of what Uber's business looks like in a driverless World well let's let's unpack that because I think a lot of people are trying to figure that out I've seen like a bunch of crazy opinions on what it means um but you know way MO is obviously kind of at the front and has you know actually doing like real ride share with you know drive cars you know I think the big question is is you know is do they just become a service that you know and the distribution comes from other uh you know from like Uber andyt or like how does that play out I'm intrigued to like how you see it going um yeah then other people mentioned Tesla as like I don't know a dark horse in this so yeah I mean you cut out for a second but I I think I got you it might have been my connection but um you know I think I don't really know on Theo side and Uber and Tesla I think it's very interesting um the bull case for Uber and this is kind of like what people are talking about is that it becomes like the aggregator for all the different uh for all the different driver list companies and building a ride share app is hard Uber has you know however many million clients around the globe and you know if you want to ride you're going to be able to go to Uber and select from all the different fleets whether you know it's it's this company or that company or that company or that company and like everybody's going to be like a centralized Hub and I think that's kind of the the like Pro case I think also you know there's also The Narrative of like hey we've been talking about driverless cars for the last like 20 years or like 10 years at Uber and you know it was like lyt said that by 2020 like or maybe I'm misquoting the exact year but they're like all of our rides will be driverless and this was in 2015 it's like 2025 and here we are but I I do think the driverless moment has arrived I think there's questions about you know how long it's going to take to roll out driver list in like every city like you know how many cars does it take to like cover a city like how much is the capex how much is the rollout cost like what's the ROI and sort of the payback period so I think like that's interesting for Uber if uh you know driver list doesn't come as fast or if Uber becomes the aggregator I I think the less uh the more scary path for Uber is you know you look at what companies like weo and Tesla are doing and instead of doing things in a partnership way right like weo is working with Uber in a couple of cities and sort of like working in other cities with other people I think you know there's a world where wh builds the weo app they already have it now from what I understand the experience is really great in San Francisco and people really love it and you know they just decide to cut out the middleman and say like hey like why do we need Uber for time and you know they certainly have the tech capability and the ecosystem to do that um but you know it's a lot of Hardware it's a lot of Maintenance it's a lot of like Fleet stuff and it may just make more sense to be with Uber on the flip side you know I think the the elephant in the room is Tesla and sort of what Elon wants to do there um I think it's unclear right like I think that they've said that they want to run their own Robo taxi Network for a long time I think that what's part about what they do is they have FSD um and have done multiple like revs on that and it's a very good product but they're not used to like picking up passengers and sort of like pulling up and doing the door change and you know I think that that's Nuance so those are some of the things I think about I think the reality is like there's Partnerships that probably make sense um down the road and like I think like one thing that I'm seeing a lot of right now is like oh does you know Amazon buy lift or does you know Tesla buy Uber like maybe I think that if Tesla were to buy Uber or Google were to buy Uber I think something like that would be create like a super app I don't know how realistic it is I don't have like a point of view as to whether it's a good thing or a bad thing long term but I'm really interested to see how the market evolves what do you think yeah I I don't know I'm I think I'm doodling on it like everybody else and trying to understand it I think what's hitting me on the head time and time again is like platforms can really win right and if you can go back to the basic of owning like the the platform and the supply itself you know and it's like a 10x better experience like the marketplaces will come to or the demand will come to you in a lot of ways yeah and so I think that's like I mean if I was Uber that's what I'd be like terribly afraid of is you know is that piece in particular but I think you know Harry Campbell um good friend you know the way he talks about it though I think is interesting he kind of mentions that you know when you own a fleet you have a lot of carrying cost to it and one of the beauties of uber and Lyft is that by spiking demand costs right you can actually incent more drivers to come on a road at a given time or things like that but you don't have to hold the asset so you're still like this asset light model and so I think that's what I come like I just try to remember and think about is like does you know like how does that play into all the Dynamics at the end of the day um because there is a lot of carrying cost to the fleet like you mentioned yeah and you know like how often do you have to keep them going right and to make it work and like how that works and maybe once you get over that cost curve of like you know you're in the profit Zone maybe it doesn't matter but it is hard to imagine that if you have to keep holding all those assets that you weren't capped at some capacity over time um and so that's the thing I think I that's what I'm thinking about a lot and it's like a lot to think about every city in America having like driverless cars right now like I think that's a long time away and the capex to get there is like just significant so that's that's my feeling on it if there are folks that are way sharp that have spent a lot of time in the wh Mo or driverless base would love to chat um and spend some time there it's it's an area that I'm thinking about a lot um and I think it's very interesting yeah if anyone in the chat has any questions on uh that in particular uh throw them in there we're like happy to answer them um if they pop up um I think uh if we we'll give it a second but if no one pops up any questions on that we can move on but I think you know I guess at the heart of uh self-driving cars right is like AI right and like all of that and so I think you know thinking hard about the future of marketplaces you know one of the things I've been thinking about is like how Ai and agents in particular kind of take over in marketplaces or like how they get involved and it is interesting that you know I think the last article I did on this was like you know one of the things I hypothesize is that maybe the like AI agents become Supply in the marketplaces and it's funny is like I maybe I you know this is like a very rudimentary way of thinking about this but like self-driving cars are essentially that right like they they maybe is one of the best examples of the use cases of AI is like where it becomes the supply is self-driving cars already and we're here so um I mean we we made it 24 minutes without talking about AI AG in 2025 so I think that's a win yeah well I mean let's let's dive into it um I think uh I'm intrigued to hear your take on I think everyone's had a slightly different um kind of opinion on it based on the type of marketplace they've worked in and understanding it some people think you know it's just like a tool some people think that there's no network effect behind it something that's actually a really novel consumer application um I just see like all kinds all over the board and I don't know I'm intrigued with your Uber experience like where you see AI kind of netting out in the world of marketplaces yeah I mean I think we've gone through different eras of sort of marketplaces and AI is sort of like the next layer and sort of this is going to be different than any other era because in marketplaces let's take a labor Marketplace for example like an workk or a Fiverr freelancing Marketplace you know if you were the buyer you'd say hey I need a deck done or I need slides or I need a thumbnail for my YouTube You know here are all the list of available people that I can buy from and you know you talk to a couple of them you'd exchange message with with them and then you choose to hire somebody and then a couple days later you get something back you put a review on it and it's it's done now it's so interesting that a lot of these tasks very soon will be able to do be done by agents right you might have Susie an AI agent or Allan an AI agent that you contract with over like a Fiverr right or or some freelance equivalent and instead of you know giving them like an assignment and going like back and forth with them you give them the context you give them the brief and then they kind of turn it around for you in like a couple of hours rather than you know a week or a couple of weeks and you know I think that leads to a couple of things one when the compute cost comes down down it drops the cost on these freelancing services in a in a major way and sort of expands the number of buyers for them instead of you know deck design costing $1,000 or $2,000 maybe it cost $20 right like long term right um and I think that that's massively deflationary um but I think that also like there's there's you know a lot of human costs there too and that's something like I'm thinking about too the the example that I like to think about and I'd be curious to get your take is there's been a commercial on for like Microsoft co-pilot and this isn't like a a labor Marketplace per se but it's like a a professional in like an office saying like hey like you know make that presentation in 30 seconds and the presentation like you know the person puts in the prompt the presentation gets made the person smiles and like a to their presentation but I think it's like that moment where we all fly too close to the sun and a lot of these jobs are gone um because of products like co-pilot so that's some of the stuff that like I'm thinking about um but I'd be curious like you know I know you wrote a great piece on sort of like the AI Marketplace is how you're thinking about it as an investor and somebody that's really knowledgeable about the space yeah I think kind of what keeps hitting me over and over again like your point on the um like that presentation making itself it's like I think if you have very rote things that are very systematized it works really well but I just being increasingly reminded that like people that have novel information or like a story like it's still it's still what matters right like it it's just these tools are actually going to be I think upskilling and essentially expanding the production capability of people that are already great producers and I think that's like where the economies of scale will come and the like returns will go to are more to individuals that are like really prolific and original thinkers like I think that's what I'm they keep popping back in my head is that you know for someone like me for example like a you know somewhat Creator slash investor you know like all these different things like I can actually do all those things pretty scalably now with AI like for like for example for my newsletter I like I've formatted a lot of it where I can just give it all the news I want and it spits out the format right and just being able to do that takes off you know like an hour of time you know just like insane amount of time and so I think about those things where I'm like wow I'm really excited about how AI can scale like our best thinkers and our best producers um and even make the average person more productive so I think that's like I'm less worried about Labor becoming this thing that becomes Obsolete and I'm more intrigued about what the like how people get enabled in new ways and what surface areas that creates and so um I think one of the things I'm interested in is like how AI becomes Supply in a lot of marketplaces like for example like intro um I think we're both on there like people pay the time to go talk to us but you know what I really don't like about Labor marketplaces is you have to coordinate time between two people uh in a lot of ways and that's very finite and discreet and becomes expensive and so I think there's a lot of opportunity around AI to actually step in and provide a lower cost um solution for information dissemination from experts um because you know lot like a lot of people ask the same questions and so like that's in theory why I write things down on a a Blog and maybe why you wrote might write the Uber Playbook right it's like because once you write it once then it's like infinitely replicatable to everyone um and so I think there's this like that opportunity set exists with AI but with like people themselves and like doing a very good rendition of like the knowledge they have um and so that's what I'm really excited about I think one similarity strikes me in this um and to Uber and all of this is that I think you know everyone's like oh AI so cheap it's like all this it's like well actually under the hood it's like very expensive to run right and so if you think go back to our first thing we were talking about of subsidies right my question is is like what happens when we rip the subsidies away from all of this right like and it compute actually you know it's going to go down in cost to do all these things but at the same time like it's very expensive for these companies to run these like businesses um and so I know I'm intrigued by like that piece of it like when does the when does the Band-Aid get ripped off and like we actually see the true price of AI and then what that does to usage so yeah I mean I think it's a really interesting point I think what we've seen so far from AI is that it provides tremendous operating leverage to companies so if companies were to rip the subsidies away um from open a from from AI um and like open AI you know move their plan from 20 to $25 a month or $ 20 to $30 a month maybe you'd see some drop off in consumer Demand right um but like the employees that are still expensing you know open AI are still going to expense it and the companies that are still buying Enterprise plans are still going to do it um but I think like we're kind of in an arms race in a much bigger arms race than sort of the ride sharing Wars you know that'll seem like a like a puddle compared to this and you know I think that you just have this reality where I I think Microsoft said they were going to spend 80 billion dollar on sort of R&D for AI in like the next year and you know the first thing that that does is it says okay Microsoft is going all in what is Google going to do what is Facebook going to do what is Amazon going to do because in the Magnificent 7 and sort of all of these larger companies you know if you are not competing or keeping up you're falling behind and this is the most foundational shift since maybe the internet or you know the smartphone and you know there are a lot of companies that you look at from the 90s that have just kind of like plateaued like look at the cisos of the world and nobody wants to be Cisco yeah I think you what's interesting all in all of this too is like the time frame of investment like if we go back like again like wayo is 15 years old today and now it is like all of a sudden a comp competitor with Uber yeah right where is like I mean but that was like someone thinking 15 years ago this should be a thing um and now it is like an existential threat to a whole new business or you know to a business that they invested in by the way Google right um so that's you know what that's the dirty laundry but the uh the point is I think there's like those things are starting to happen again with like the investments in AI with all these with all the larger tech companies and I'm really intrigued to see like which businesses are like the things that get disrupted just totally by this like that we didn't even expect like you know and it's going to take time because like what we're a couple years in from if we Mark chat GPT launch as kind of the the beginning of the AI era um you know we're still like only two years in right and like if you yeah anyway yeah to pick up on that I'm very interested in education right like I don't know if there's an investment opportunity in education but if you look at like what's happened to businesses like C that have just lost so much value because everything is sort of online um it's going to totally transform how we think about school for kids how education like morphs overtime and I think that's a really interesting shift I think healthcare is really interesting as like we can kind ofing bring down the cost of things by getting smarter about care and I think it's just this incredible thing for society it's just unclear like what the impacts are and who the winners are going to be and where the value is gonna sort of like aggregate yeah no I think that we're all in 100% agreement we don't know what's going to happen but we're excited by the future um well I think we we should uh wrap up for everyone we've uh we going going for 30 minutes um but yeah the uh Ai and marketplaces big question Mark I'm excited to see it but I I do think the big things that I I think are going to happen one there's going to be some supply side kind of cannibalization by Ai and it's going to be in ways that we don't think about but I also think it's going to open up totally new surface areas and Supply sets because of cost like efficiencies um but also of like totally new areas that we hadn't thought about like you know that become really interesting so that's kind of my two cents on it any last word on it before we no I love it this was this was super fun thanks for doing this thanks everybody for hanging out with us um if you if you liked it let us know um if you have ideas let us know um this is a really cool platform and um you know Colin and I love marketplaces so if there's ever any way we can help feel free to reach out yeah and uh if there's any uh partying questions in there get them in now but uh otherwise we'll we'll wrap it up and uh get out of here and uh I wouldn't be wouldn't be a good plug if I didn't say subscribe to our substacks um and uh see what we're thinking so all right well thanks everyone thanks guys bye Back To Top