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thumbtack I know they went over to a referral fee
we love and use HubSpot at launch it is awesome for marketing and for your sales team they swear by it they love the CRM which is fast intuitive and robust we've been using it for years and we love it
it's a marketplace for long term housing instead of Airbnb as kind of short-term housing it's more of a managed marketplace where they actually go lease these homes for a year and then turn around and rent them
hub house saw that metric go from like low single-digit percentage when they started then they added a bunch of supply and they started seeing that number hit 10% like holy crap 10% of our users I actually just came from our own network we didn't have to reacquire them and that number keeps climbing up that's your strategic advantage
uber and lyft were often below five minutes in almost every major American city
for uber and lyft partially because the network effect is so strong though on supply side they also knew they were in a race right and they use this thing that you know called blitzscaling
there are switching costs in this industry while people think Oh between uber and lyft you can just bounce back and forth yes somehow this became a duopoly... there is some switching cost
Airbnb if you look they've got their fee they charge the consumer and then they've also got a small fee that's close to like the bits basically pass-through payment three percent they charge to the the host if you look they add up to a similar number and they don't reduce it it's crazy you could book at ten thousand dollar Airbnb stay they don't they don't kind of reduce that
with Airbnb it's getting easier more and more of their traffic is getting organic I think it was 60% of their traffic was organic ... that's very compelling
Airbnb is higher transaction size lower frequency that's okay too on the margin I'd actually take the higher frequency but Airbnb is working on increasing their frequency through experiences and other categories
Airbnb is a first mover with a strong brand and that network effect HomeAway was in the market but HomeAway was doing longer-term stays and Airbnb really pioneered this short-term stay category no one else in the united states kind of moved fast enough to the point where once they got enough of a name and there's something about listing your home where you have to have a high degree of trust and who you're gonna list your home with everybody got exit velocity and now they've got the strategic ad
uber is low transaction size but frequent so it's there okay that they're low transaction other you know Airbnb is higher transaction size lower frequency that's okay too on the margin I'd actually take the higher frequency
in ubers case it's very simple average wait time we talked about that seven minutes if Burgett Stu hound you an average wait time there's one minute you know almost never happens but they do I think in some cases have like two three minute average wait times in certain cities and in neighborhoods that's late that's beautiful right they see their users I talked to the person who designed their routing algorithms for over and that was so important for them because they said every minute that they
they also knew they were in a race right and they use this thing that you know called blitzscaling right that there's a whole book about they said people will only kind of not suffer that pain of the three minute switching cost if we're just the obvious winner
the one thing about uber for example people think that it's easy to just switch between uber lyft or another ride-sharing off but let me ask you this let's do a count of hands raise your hands if you have the uber app on your phone okay keep your hands up if you have the lyft app on your phone almost everybody has their hands up for both now keep your hand up if you currently have and it's logged in with payment credentials another ride-sharing app on your phone right now almost every hand went
uber as you saw they just their proprietary method it's not so proprietary but they just got really ahead of how to sign up those drivers they sent kind of looking at yelps model of Community Managers that have now lots of companies have copied this but uber was one of the first to kind of look at yelps playbook and replicate it it was controversial at the time it was internet companies weren't supposed to hire people in every market but Yelp did and the nuber followed suit and they've hired a r
the head of growth at uber this guy named Ed Baker at the time in the early days I was talking to him about a partnership with Yelp and I said hey we can drive a bunch of new users for us and then you can do this we were talking about going back and forth he said yeah I don't even need new users I'm the head of growth he was like a growth lead of Facebook at one point he said I should be in charge of getting new users but I don't even care about getting new users I just need drivers if I get dri
as uber got a lot of density and then uber X really took off the price was so low and in the entire country basically besides this small part of Manhattan taxis were not ubiquitous ubers network effects were really strong
the early days of uber this was very obvious the writers care about the drivers a lot more there are a lot more there was a lot more demand for writers in the early days of uber than there was a supply of drivers
LinkedIn is where six hundred and ten million members visit and they do that to make connections and learn and grow as professionals and sometimes they're looking to discover new job opportunities or sometimes their passive job seekers and that is the secret not everybody is going to a job board every day looking for jobs but LinkedIn will present opportunities to those hundreds of millions of LinkedIn users and here how easy it is you just simply go to LinkedIn and it's really easy... you will
something like you know Oracle or Salesforce you know especially Oracle right it used to be that to even get Oracle installed that would come with an army of Accenture consultants who would show up to your office you're like well I paid a million dollars just to install this thing I'm not gonna rip this out now all right and people have a hard time ignoring some cost and truly on the margin it's it's difficult for them to think about switching
something like you know Oracle or Salesforce you know especially Oracle right it used to be that to even get Oracle installed that would come with an army of Accenture consultants who would show up to your office you're like well I paid a million dollars just to install this thing I'm not gonna rip this out now all right and people have a hard time ignoring some cost and truly on the margin it's it's difficult for them to think about switching