{"id":8353,"date":"2023-01-16T00:48:18","date_gmt":"2023-01-16T00:48:18","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-300-goodwill-finds-ceo-matt-kaness\/"},"modified":"2023-01-16T00:48:18","modified_gmt":"2023-01-16T00:48:18","slug":"jason-scot-show-episode-300-goodwill-finds-ceo-matt-kaness","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-300-goodwill-finds-ceo-matt-kaness\/","title":{"rendered":"Jason &#038; Scot Show Episode 300 &#8211; Goodwill Finds CEO Matt Kaness"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<p>A weekly podcast with the latest e-commerce news and events. Episode 300 is an interview with Matt Kaness, CEO of GoodwillFinds.com a new e-commerce initiative launched by Goodwill.<\/p>\n<p> <span id=\"more-28402\"\/><\/p>\n<p><strong>Subscribe:<br \/><\/strong><\/p>\n<figure><iframe loading=\"lazy\" style=\"border: none;\" src=\"http:\/\/html5-player.libsyn.com\/embed\/episode\/id\/25527630\/height\/360\/width\/640\/theme\/standard-mini\/autoplay\/no\/autonext\/no\/thumbnail\/yes\/preload\/no\/no_addthis\/no\/direction\/backward\/no-cache\/true\/\" width=\"640\" height=\"360\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><\/iframe><\/figure>\n<p>Episode 300 is an interview with Matt Kaness, CEO of Goodwillfinds.com.  Matt was formerly on episode 79, when he was CEO of Modcloth, which later sold to Walmart.<\/p>\n<p>In this interview, we cover the sale of ModCloth to Walmart, Matts\u2019s subsequent work at Lucky Brand and Afterpay, and his new role as CEO at Goodwillfinds.<\/p>\n<p>Goodwillfinds.com is an e-commerce site, which sells previously owned merchandise, which has been donated to Goodwill. We cover many of the tactical challenges (onboarding SKUs, product content, fulfillment, and curation), as well as the opportunities of this new \u201cCircularCommerce\u201d space. We also get some of Matt\u2019s predictions about what\u2019s coming next in digital commerce.<\/p>\n<p>Episode 300 of the Jason &amp; Scot show was recorded on Wednesday January 4th, 2023.<\/p>\n<h2 id=\"chapter\">Transcript<\/h2>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[0:23]<\/small>\u00a0<span title=\"0:23 - 0:33\" data-start=\"00:00:23.135\" data-end=\"00:00:32.671\" data-spk=\"0\" data-label=\"Jason\">Welcome to the Jason and Scot show this is the much-anticipated episode number 300 being recorded on Wednesday January 4th,<\/span><br \/><span title=\"0:33 - 0:41\" data-start=\"00:00:32.690\" data-end=\"00:00:40.694\" data-spk=\"0\" data-label=\"Jason\">20:23 I\u2019m your host Jason retailgeek Goldberg and as usual I\u2019m here with your co-host Scot Wingo.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[0:41]<\/small>\u00a0<span title=\"0:41 - 0:46\" data-start=\"00:00:40.598\" data-end=\"00:00:45.603\" data-spk=\"1\" data-label=\"Scot\">Hey Jason and welcome back Jason and Scot show listeners<\/span><br \/><span title=\"0:46 - 0:52\" data-start=\"00:00:45.591\" data-end=\"00:00:51.732\" data-spk=\"1\" data-label=\"Scot\">Jason not only is this the first show of 20:23 it\u2019s a big milestone for us with episode<\/span><br \/><span title=\"0:52 - 1:01\" data-start=\"00:00:51.570\" data-end=\"00:01:01.353\" data-spk=\"1\" data-label=\"Scot\">what better way to celebrate than having one of our oldest friends for both you and I personally but also to the show back for an update Matt<\/span><br \/><span title=\"1:01 - 1:13\" data-start=\"00:01:01.287\" data-end=\"00:01:12.686\" data-spk=\"1\" data-label=\"Scot\">kaness he was last on the show back in episode 79 I think many listeners will remember that one and certainly your mom who\u2019s one of our biggest fans and back then he was CEO of ModCloth,<\/span><br \/><span title=\"1:13 - 1:24\" data-start=\"00:01:12.746\" data-end=\"00:01:24.398\" data-spk=\"1\" data-label=\"Scot\">a lot has changed since then so we\u2019re looking forward to getting an update some of the highlights Matt help sell ModCloth to Walmart he was exact chair and interim CEO at Lucky Brand he\u2019s on several boards<\/span><br \/><span title=\"1:24 - 1:35\" data-start=\"00:01:24.272\" data-end=\"00:01:34.553\" data-spk=\"1\" data-label=\"Scot\">yeah I\u2019ve been advisory to several companies and since September of 2022 he has been CEO of goodwillfinds.com Matt welcome back to the show.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[1:35]<\/small>\u00a0<span title=\"1:35 - 1:37\" data-start=\"00:01:35.070\" data-end=\"00:01:36.860\" data-spk=\"2\" data-label=\"Matt\">Great to be here guys thanks for having me.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[1:38]<\/small>\u00a0<span title=\"1:38 - 1:49\" data-start=\"00:01:38.027\" data-end=\"00:01:48.872\" data-spk=\"0\" data-label=\"Jason\">Oh my gosh Matt we are really excited to catch up it seems like if you factor in the pandemic your last episode was about 15 years ago<\/span><br \/><span title=\"1:49 - 1:49\" data-start=\"00:01:48.777\" data-end=\"00:01:49.491\" data-spk=\"0\" data-label=\"Jason\">if I\u2019m<\/span><br \/><span title=\"1:49 - 2:01\" data-start=\"00:01:49.402\" data-end=\"00:02:00.764\" data-spk=\"0\" data-label=\"Jason\">and so happy I\u2019m happy to report we\u2019ve added a bunch of listeners since then so before we jump into it can you kind of remind the listeners about your background and how you got in e-commerce.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[2:02]<\/small>\u00a0<span title=\"2:02 - 2:11\" data-start=\"00:02:01.582\" data-end=\"00:02:10.872\" data-spk=\"2\" data-label=\"Matt\">Yeah have you too I like to think about my career or having two careers to date the first one was,<\/span><br \/><span title=\"2:11 - 2:17\" data-start=\"00:02:11.209\" data-end=\"00:02:17.283\" data-spk=\"2\" data-label=\"Matt\">very foundational for what I\u2019m doing now but very quantitative,<\/span><br \/><span title=\"2:18 - 2:22\" data-start=\"00:02:17.680\" data-end=\"00:02:22.397\" data-spk=\"2\" data-label=\"Matt\">process-oriented mechanical engineering patent law Manufacturing,<\/span><br \/><span title=\"2:23 - 2:31\" data-start=\"00:02:22.728\" data-end=\"00:02:31.212\" data-spk=\"2\" data-label=\"Matt\">Ops Consulting things that had nothing to do with retail or fashion or e-commerce and then I.<\/span><\/p>\n<p><small>[2:32]<\/small>\u00a0<span title=\"2:32 - 2:42\" data-start=\"00:02:31.892\" data-end=\"00:02:41.884\" data-spk=\"2\" data-label=\"Matt\">Fell into the category when I was a full-time consultant at Burton Snowboards about 16 17 years ago,<\/span><br \/><span title=\"2:42 - 2:46\" data-start=\"00:02:42.125\" data-end=\"00:02:45.728\" data-spk=\"2\" data-label=\"Matt\">and fell in love with lifestyle Brands and have,<\/span><br \/><span title=\"2:46 - 2:52\" data-start=\"00:02:46.069\" data-end=\"00:02:52.268\" data-spk=\"2\" data-label=\"Matt\">try to stay in that lane for the majority of that time period since,<\/span><br \/><span title=\"2:53 - 3:06\" data-start=\"00:02:52.653\" data-end=\"00:03:06.335\" data-spk=\"2\" data-label=\"Matt\">from Burton Snowboards I went onto Urban Outfitters was there for close to eight years up sensibly and I had a growth roll my last title there was Chief strategy officer and then from there I went to ModCloth,<\/span><br \/><span title=\"3:07 - 3:16\" data-start=\"00:03:06.672\" data-end=\"00:03:15.782\" data-spk=\"2\" data-label=\"Matt\">where I was the CEO for three years and was running the company when we sold it to Walmart I will say that,<\/span><br \/><span title=\"3:16 - 3:26\" data-start=\"00:03:16.113\" data-end=\"00:03:25.679\" data-spk=\"2\" data-label=\"Matt\">I\u2019ve been in hindsight found myself attracted to these amazing consumer lifestyle brands,<\/span><br \/><span title=\"3:26 - 3:40\" data-start=\"00:03:25.986\" data-end=\"00:03:40.082\" data-spk=\"2\" data-label=\"Matt\">that are experiencing inflection points either in their business or in the industry when I was at Burton snowboarding was really for the first time finding a mass audience crossing over into,<\/span><br \/><span title=\"3:40 - 3:42\" data-start=\"00:03:40.383\" data-end=\"00:03:42.402\" data-spk=\"2\" data-label=\"Matt\">the Olympics the next games and,<\/span><br \/><span title=\"3:43 - 3:53\" data-start=\"00:03:42.685\" data-end=\"00:03:53.110\" data-spk=\"2\" data-label=\"Matt\">when I was at Urban it was the rise of Web 2.0 and I got to ride that wave my entire time there and really,<\/span><br \/><span title=\"3:53 - 3:58\" data-start=\"00:03:53.423\" data-end=\"00:03:58.446\" data-spk=\"2\" data-label=\"Matt\">I\u2019ll be on the Forefront of pioneering you know what everybody know of calls omni-channel.<\/span><\/p>\n<p><small>[3:59]<\/small>\u00a0<span title=\"3:59 - 4:13\" data-start=\"00:03:58.831\" data-end=\"00:04:12.579\" data-spk=\"2\" data-label=\"Matt\">ModCloth the founder of their Susan Koger was one of the pioneers of inclusive fashion and so I felt personally accountable to try to scale that and I think we,<\/span><br \/><span title=\"4:13 - 4:22\" data-start=\"00:04:12.922\" data-end=\"00:04:21.653\" data-spk=\"2\" data-label=\"Matt\">if once the industry specifically plus size women\u2019s fashion and you know today you look around and it\u2019s become pretty normative,<\/span><br \/><span title=\"4:22 - 4:32\" data-start=\"00:04:22.026\" data-end=\"00:04:31.911\" data-spk=\"2\" data-label=\"Matt\">for Brands to design into extra extra small to 4X and I\u2019m really proud of the work we did at ModCloth being on the front end of that and then.<\/span><br \/><span title=\"4:32 - 4:39\" data-start=\"00:04:32.386\" data-end=\"00:04:39.272\" data-spk=\"2\" data-label=\"Matt\">I do some Consulting work at after pay where buy now pay later was really just becoming a thing,<\/span><br \/><span title=\"4:40 - 4:50\" data-start=\"00:04:39.555\" data-end=\"00:04:49.625\" data-spk=\"2\" data-label=\"Matt\">we\u2019re younger consumers were focused more on debit versus credit products so with really fortunate to get connected with that team and enjoyed,<\/span><br \/><span title=\"4:50 - 5:00\" data-start=\"00:04:49.920\" data-end=\"00:04:59.636\" data-spk=\"2\" data-label=\"Matt\">partnering with them and being an advisor and then you know what I\u2019m doing now at Goodwill where secondhand is really having a moment,<\/span><br \/><span title=\"5:00 - 5:09\" data-start=\"00:04:59.985\" data-end=\"00:05:09.239\" data-spk=\"2\" data-label=\"Matt\">in the culture and getting a chance to come in and lead a ground-up startup for the Goodwill Network and helping them to.<\/span><br \/><span title=\"5:10 - 5:15\" data-start=\"00:05:09.684\" data-end=\"00:05:15.188\" data-spk=\"2\" data-label=\"Matt\">It\u2019s a digitized so to speak and you bring this new Marketplace into the world,<\/span><br \/><span title=\"5:16 - 5:22\" data-start=\"00:05:15.525\" data-end=\"00:05:21.654\" data-spk=\"2\" data-label=\"Matt\">it\u2019s just for me it\u2019s like the next chapter in that really fortunate career second career that I\u2019ve had.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:23]<\/small>\u00a0<span title=\"5:23 - 5:29\" data-start=\"00:05:22.982\" data-end=\"00:05:29.483\" data-spk=\"0\" data-label=\"Jason\">Very cool and I know some of those roles were Bay Area based but you are a Philly guy correct.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[5:29]<\/small>\u00a0<span title=\"5:29 - 5:36\" data-start=\"00:05:29.412\" data-end=\"00:05:36.136\" data-spk=\"2\" data-label=\"Matt\">Philly guy born and raised I\u2019m probably on the short list of people who have moved back to Philly twice.<\/span><br \/><span title=\"5:37 - 5:43\" data-start=\"00:05:36.707\" data-end=\"00:05:42.968\" data-spk=\"2\" data-label=\"Matt\">I was in Boston the first time when my wife became.<\/span><br \/><span title=\"5:43 - 5:54\" data-start=\"00:05:43.407\" data-end=\"00:05:53.508\" data-spk=\"2\" data-label=\"Matt\">Preggers with our oldest and we wanted to be closer to family and then the second time was when we were in the Bay Area after I left Walmart,<\/span><br \/><span title=\"5:54 - 6:00\" data-start=\"00:05:53.851\" data-end=\"00:05:59.733\" data-spk=\"2\" data-label=\"Matt\">we had a break in the action and our oldest was about to start high school and we decide we want to be back here.<\/span><br \/><span title=\"6:00 - 6:14\" data-start=\"00:06:00.202\" data-end=\"00:06:13.554\" data-spk=\"2\" data-label=\"Matt\">For the high school years but we\u2019ve lived all around and I\u2019d obviously travel a lot for work so I have an affinity for the bay area as well as some other places around the country but but Phillies the hometown.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[6:14]<\/small>\u00a0<span title=\"6:14 - 6:18\" data-start=\"00:06:13.789\" data-end=\"00:06:17.790\" data-spk=\"0\" data-label=\"Jason\">Yeah but I\u2019m assuming it\u2019s Philly sports teams most importantly.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[6:18]<\/small>\u00a0<span title=\"6:18 - 6:23\" data-start=\"00:06:17.550\" data-end=\"00:06:22.592\" data-spk=\"2\" data-label=\"Matt\">I have been an eagle season ticket holders 2000 yes.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[6:23]<\/small>\u00a0<span title=\"6:23 - 6:36\" data-start=\"00:06:22.568\" data-end=\"00:06:35.914\" data-spk=\"0\" data-label=\"Jason\">Awesome and for people that don\u2019t know Philadelphia and Pennsylvania as a whole is a is is a weird e-commerce concentration Point like there\u2019s a lot of e-commerce kind of<\/span><br \/><span title=\"6:36 - 6:49\" data-start=\"00:06:35.818\" data-end=\"00:06:48.977\" data-spk=\"0\" data-label=\"Jason\">was born or gravitated in the area so I think of like Mark Rubin and Dick\u2019s Sporting Good and in Pittsburgh and urban obviously was a huge player there<\/span><br \/><span title=\"6:49 - 6:56\" data-start=\"00:06:48.882\" data-end=\"00:06:55.978\" data-spk=\"0\" data-label=\"Jason\">was Urban your first like hardcore e-commerce experience or were you doing a lot of e-commerce at Burton.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[6:56]<\/small>\u00a0<span title=\"6:56 - 7:05\" data-start=\"00:06:55.678\" data-end=\"00:07:05.172\" data-spk=\"2\" data-label=\"Matt\">I was not at Burton Urban is really where I started to cut my teeth on e-commerce.<\/span><br \/><span title=\"7:06 - 7:18\" data-start=\"00:07:05.653\" data-end=\"00:07:18.386\" data-spk=\"2\" data-label=\"Matt\">Direct to Consumer more than e-commerce it was really about this when I got there this billion dollar Consolidated Enterprise across there are three main brands,<\/span><br \/><span title=\"7:19 - 7:25\" data-start=\"00:07:18.699\" data-end=\"00:07:24.719\" data-spk=\"2\" data-label=\"Matt\">Urban Outfitters anthropology and Free People and the business had started as a catalog,<\/span><br \/><span title=\"7:25 - 7:33\" data-start=\"00:07:25.068\" data-end=\"00:07:32.705\" data-spk=\"2\" data-label=\"Matt\">division of what was you know let\u2019s call it 95 percent of the sales came through their store Channel.<\/span><br \/><span title=\"7:33 - 7:42\" data-start=\"00:07:33.247\" data-end=\"00:07:42.164\" data-spk=\"2\" data-label=\"Matt\">For retail versus direct to Consumer and so when I got there or there was a there was a.<\/span><\/p>\n<p><small>[7:43]<\/small>\u00a0<span title=\"7:43 - 7:53\" data-start=\"00:07:42.735\" data-end=\"00:07:52.650\" data-spk=\"2\" data-label=\"Matt\">100 million Consolidated direct-to-consumer business which was split between catalog and e-commerce,<\/span><br \/><span title=\"7:53 - 8:02\" data-start=\"00:07:53.035\" data-end=\"00:08:01.880\" data-spk=\"2\" data-label=\"Matt\">but it was nascent it was not a strategic focus and then you know the founder of their dick ain\u2019t really had.<\/span><br \/><span title=\"8:02 - 8:16\" data-start=\"00:08:02.391\" data-end=\"00:08:16.253\" data-spk=\"2\" data-label=\"Matt\">This put a natural understanding of consumer behavior and where the industry was going and he had a vision for how to scale the business multi-channel and so we were all,<\/span><br \/><span title=\"8:17 - 8:28\" data-start=\"00:08:16.572\" data-end=\"00:08:28.416\" data-spk=\"2\" data-label=\"Matt\">trying to make that that future reality every day for the eight years I was there and we had a lot of success going back to your point about Pennsylvania and Philly first round capital,<\/span><br \/><span title=\"8:29 - 8:38\" data-start=\"00:08:28.795\" data-end=\"00:08:37.724\" data-spk=\"2\" data-label=\"Matt\">one of their there I believe their original headquarters and then one of their major offices,<\/span><br \/><span title=\"8:38 - 8:48\" data-start=\"00:08:37.976\" data-end=\"00:08:48.294\" data-spk=\"2\" data-label=\"Matt\">is in Philly and so I think I think a lot of it stems from their presence as well not just decaying and Reuben and some others,<\/span><br \/><span title=\"8:49 - 8:57\" data-start=\"00:08:48.564\" data-end=\"00:08:56.622\" data-spk=\"2\" data-label=\"Matt\">but also Philly from a talent perspective is kind of like a six suburb or borough of New York,<\/span><br \/><span title=\"8:57 - 9:00\" data-start=\"00:08:56.887\" data-end=\"00:09:00.330\" data-spk=\"2\" data-label=\"Matt\">where you get a lot of folks in New York and then they realize that.<\/span><br \/><span title=\"9:01 - 9:10\" data-start=\"00:09:00.841\" data-end=\"00:09:09.842\" data-spk=\"2\" data-label=\"Matt\">It\u2019s just the standard of living the cost of living is so much better in Philadelphia and so you get a lot of transplants to come down to Philly as well working in e-commerce.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[9:11]<\/small>\u00a0<span title=\"9:11 - 9:25\" data-start=\"00:09:10.636\" data-end=\"00:09:24.709\" data-spk=\"0\" data-label=\"Jason\">Yeah and I want to say I met you I think we all met on the shop dot-org board when you were at Urban later in your your tenure Urban and some of my Fondest Memories<\/span><br \/><span title=\"9:25 - 9:34\" data-start=\"00:09:24.565\" data-end=\"00:09:33.878\" data-spk=\"0\" data-label=\"Jason\">another good friend of the show Billy met who at the time was at Abercrombie is the two of you like heckling each other about like your two brands.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[9:34]<\/small>\u00a0<span title=\"9:34 - 9:44\" data-start=\"00:09:34.420\" data-end=\"00:09:44.040\" data-spk=\"2\" data-label=\"Matt\">Yeah like that was that was really fun for me because you know Urban.<\/span><br \/><span title=\"9:45 - 9:54\" data-start=\"00:09:44.551\" data-end=\"00:09:54.393\" data-spk=\"2\" data-label=\"Matt\">Um was pretty insular you meaning that we were so obsessively focused on the customer,<\/span><br \/><span title=\"9:55 - 9:59\" data-start=\"00:09:54.760\" data-end=\"00:09:58.738\" data-spk=\"2\" data-label=\"Matt\">and on the fashion trends and on what we were doing internally,<\/span><br \/><span title=\"9:59 - 10:05\" data-start=\"00:09:59.009\" data-end=\"00:10:04.837\" data-spk=\"2\" data-label=\"Matt\">that we never really thought about competition so we didn\u2019t spend a ton of time looking around the industry,<\/span><br \/><span title=\"10:05 - 10:16\" data-start=\"00:10:05.054\" data-end=\"00:10:16.465\" data-spk=\"2\" data-label=\"Matt\">so for me that was that was kind of a an introduction to what else was happening across the industry and then Billy occasionally would call me and say.<\/span><br \/><span title=\"10:17 - 10:31\" data-start=\"00:10:16.952\" data-end=\"00:10:30.910\" data-spk=\"2\" data-label=\"Matt\">Hey you guys make me look bad because you just had another great quarter ecomp rowing and you know your your results are now The Benchmark that I have to deliver against.<\/span><br \/><span title=\"10:31 - 10:37\" data-start=\"00:10:31.368\" data-end=\"00:10:37.220\" data-spk=\"2\" data-label=\"Matt\">But you know what I what I found in that shop or Community which is now part of NRF,<\/span><br \/><span title=\"10:38 - 10:45\" data-start=\"00:10:37.623\" data-end=\"00:10:45.158\" data-spk=\"2\" data-label=\"Matt\">is that it was not very competitive it was very collaborative I couldn\u2019t believe.<\/span><\/p>\n<p><small>[10:46]<\/small>\u00a0<span title=\"10:46 - 10:58\" data-start=\"00:10:45.825\" data-end=\"00:10:58.324\" data-spk=\"2\" data-label=\"Matt\">How much everybody support each other and wanted to share strategies and ideas and Etc and I think that\u2019s one of the things that really drew me into this career path on the digital Commerce side,<\/span><br \/><span title=\"10:59 - 11:03\" data-start=\"00:10:58.637\" data-end=\"00:11:02.969\" data-spk=\"2\" data-label=\"Matt\">versus pursuing merchandising or.<\/span><br \/><span title=\"11:04 - 11:09\" data-start=\"00:11:03.534\" data-end=\"00:11:09.260\" data-spk=\"2\" data-label=\"Matt\">We\u2019re kind of the brick-and-mortar offline space is it\u2019s just how,<\/span><br \/><span title=\"11:10 - 11:20\" data-start=\"00:11:09.663\" data-end=\"00:11:19.884\" data-spk=\"2\" data-label=\"Matt\">how great that the digital Community has been in the US that I\u2019ve experienced so that\u2019s one of the one of the things that I try to do now is to make sure that.<\/span><br \/><span title=\"11:20 - 11:31\" data-start=\"00:11:20.329\" data-end=\"00:11:30.953\" data-spk=\"2\" data-label=\"Matt\">Making myself available I\u2019m kind of giving back and spending time with folks and helping them along and sharing ideas because I know that you guys and others certainly do that for me way back in the day.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[11:32]<\/small>\u00a0<span title=\"11:32 - 11:40\" data-start=\"00:11:31.813\" data-end=\"00:11:40.369\" data-spk=\"0\" data-label=\"Jason\">Yeah I feel like we all have done that for each other and I feel like we\u2019ve all obviously benefited greatly from that community,<\/span><br \/><span title=\"11:41 - 11:54\" data-start=\"00:11:40.718\" data-end=\"00:11:54.455\" data-spk=\"0\" data-label=\"Jason\">and so then you leave the Eagles behind and you go join what at the time was a Founder led a venture back pure-d to see is that,<\/span><br \/><span title=\"11:55 - 11:58\" data-start=\"00:11:54.611\" data-end=\"00:11:58.282\" data-spk=\"0\" data-label=\"Jason\">a fair characterization for Vermont cough if when you.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[11:58]<\/small>\u00a0<span title=\"11:58 - 12:03\" data-start=\"00:11:57.982\" data-end=\"00:12:03.174\" data-spk=\"2\" data-label=\"Matt\">Yes my father my father is a pure pointy Taylor yeah.<\/span><br \/><span title=\"12:06 - 12:13\" data-start=\"00:12:05.782\" data-end=\"00:12:12.560\" data-spk=\"2\" data-label=\"Matt\">Like 10,000 uniques on the site all third party.<\/span><br \/><span title=\"12:13 - 12:21\" data-start=\"00:12:13.071\" data-end=\"00:12:20.937\" data-spk=\"2\" data-label=\"Matt\">The company was vertically integrated so homegrown Ruby on Rails codebase e-commerce.<\/span><br \/><span title=\"12:22 - 12:29\" data-start=\"00:12:21.628\" data-end=\"00:12:29.085\" data-spk=\"2\" data-label=\"Matt\">Order management system warehouse management system all the way down to the call center and the warehouse it was,<\/span><br \/><span title=\"12:29 - 12:34\" data-start=\"00:12:29.488\" data-end=\"00:12:34.211\" data-spk=\"2\" data-label=\"Matt\">um pretty pioneering on the web services side as far as.<\/span><\/p>\n<p><small>[12:35]<\/small>\u00a0<span title=\"12:35 - 12:44\" data-start=\"00:12:35.142\" data-end=\"00:12:43.819\" data-spk=\"2\" data-label=\"Matt\">Look it was an early social commerce player as far as leveraging Pinterest and things that you could do with.<\/span><br \/><span title=\"12:44 - 12:56\" data-start=\"00:12:44.234\" data-end=\"00:12:56.234\" data-spk=\"2\" data-label=\"Matt\">Facebook and some of the other platforms Tumblr to engage customers and get them to participate in the shopping experience we were one of the first to integrate,<\/span><br \/><span title=\"12:57 - 13:06\" data-start=\"00:12:56.625\" data-end=\"00:13:05.746\" data-spk=\"2\" data-label=\"Matt\">ugc from customers into the shopping experience into the carousels on the website,<\/span><br \/><span title=\"13:06 - 13:18\" data-start=\"00:13:06.077\" data-end=\"00:13:18.215\" data-spk=\"2\" data-label=\"Matt\">um we had personalization that was driven by customer reviews that were captured in the website versus outsourced to a bizarre Voice or the like so it was the technology is pretty pioneering,<\/span><br \/><span title=\"13:19 - 13:25\" data-start=\"00:13:18.516\" data-end=\"00:13:25.101\" data-spk=\"2\" data-label=\"Matt\">the business was was very underdeveloped and the brand I felt was.<\/span><br \/><span title=\"13:26 - 13:34\" data-start=\"00:13:25.571\" data-end=\"00:13:34.247\" data-spk=\"2\" data-label=\"Matt\">Had a lot of opportunity to broaden its appeal when I got there so it was a little bit of a turnaround,<\/span><br \/><span title=\"13:35 - 13:44\" data-start=\"00:13:34.584\" data-end=\"00:13:44.294\" data-spk=\"2\" data-label=\"Matt\">financially what I\u2019m joined which having now done this a few times there\u2019s always a reason they bring in an outside CEO.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[13:44]<\/small>\u00a0<span title=\"13:44 - 13:48\" data-start=\"00:13:43.994\" data-end=\"00:13:47.720\" data-spk=\"0\" data-label=\"Jason\">It\u2019s not because things are just going awesome and they just want to share the awesomeness.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[13:47]<\/small>\u00a0<span title=\"13:47 - 13:59\" data-start=\"00:13:47.432\" data-end=\"00:13:59.179\" data-spk=\"2\" data-label=\"Matt\">Yeah I can\u2019t I can\u2019t think of a single time that CEO in a business that\u2019s humming and doing great he says you know what let\u2019s bring in somebody else to do this so I.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[13:57]<\/small>\u00a0<span title=\"13:57 - 14:02\" data-start=\"00:13:57.479\" data-end=\"00:14:02.382\" data-spk=\"0\" data-label=\"Jason\">I think Andy jassy is saying that about Amazon right now by the way.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[14:02]<\/small>\u00a0<span title=\"14:02 - 14:11\" data-start=\"00:14:02.082\" data-end=\"00:14:10.993\" data-spk=\"2\" data-label=\"Matt\">Yeah yeah yeah what I mean there\u2019s there\u2019s a there\u2019s a lot of chatter about looking at.<\/span><br \/><span title=\"14:12 - 14:22\" data-start=\"00:14:11.708\" data-end=\"00:14:21.869\" data-spk=\"2\" data-label=\"Matt\">It was on the Facebook and Tesla and what those Founders were doing the last couple years selling stock so I think they kind of all knew what was about to happen.<\/span><br \/><span title=\"14:22 - 14:31\" data-start=\"00:14:22.416\" data-end=\"00:14:30.871\" data-spk=\"2\" data-label=\"Matt\">But you know just quickly on ModCloth I\u2019ll say that you know we were able to quickly come in.<\/span><\/p>\n<p><small>[14:32]<\/small>\u00a0<span title=\"14:32 - 14:41\" data-start=\"00:14:32.031\" data-end=\"00:14:41.362\" data-spk=\"2\" data-label=\"Matt\">Turn around the business financially but more importantly we pivoted it to what then was called a DM BB model,<\/span><br \/><span title=\"14:42 - 14:54\" data-start=\"00:14:41.597\" data-end=\"00:14:53.921\" data-spk=\"2\" data-label=\"Matt\">a digitally native vertical brand model which was just meant that the vertical piece that you were procuring designing selling your own product or exclusive product versus,<\/span><br \/><span title=\"14:54 - 15:04\" data-start=\"00:14:54.246\" data-end=\"00:15:03.981\" data-spk=\"2\" data-label=\"Matt\">third party which you know in the world of Amazon it\u2019s really hard to scale a business that you know what you\u2019re selling you can find on Amazon or other larger marketplaces,<\/span><br \/><span title=\"15:04 - 15:13\" data-start=\"00:15:04.300\" data-end=\"00:15:13.283\" data-spk=\"2\" data-label=\"Matt\">so we build out a design studio and sourcing operation weary platform the entire Tech stack we developed,<\/span><br \/><span title=\"15:14 - 15:27\" data-start=\"00:15:13.578\" data-end=\"00:15:27.013\" data-spk=\"2\" data-label=\"Matt\">a showroom concept similar to what we\u2019re being bonobos had developed and tested that and rolled that out and had a really aggressive growth plan against that we went out to raise money and her wound up,<\/span><br \/><span title=\"15:27 - 15:34\" data-start=\"00:15:27.260\" data-end=\"00:15:33.840\" data-spk=\"2\" data-label=\"Matt\">getting an offer from the team at jet.com that 6-month previous had,<\/span><br \/><span title=\"15:34 - 15:42\" data-start=\"00:15:34.099\" data-end=\"00:15:42.006\" data-spk=\"2\" data-label=\"Matt\">I\u2019ve been sold to Walmart and they came in and made an offer and the board accepted it and so we sold it.<\/span><br \/><span title=\"15:42 - 15:49\" data-start=\"00:15:42.499\" data-end=\"00:15:49.049\" data-spk=\"2\" data-label=\"Matt\">And and I stayed on at Walmart for a year and oversaw our integration into that that ecosystem.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[15:51]<\/small>\u00a0<span title=\"15:51 - 16:00\" data-start=\"00:15:50.533\" data-end=\"00:16:00.358\" data-spk=\"1\" data-label=\"Scot\">Cool the that was kind of a chain reaction right where you guys several companies they Acquired and did you play a role in kind of that roll up.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[16:01]<\/small>\u00a0<span title=\"16:01 - 16:09\" data-start=\"00:16:01.248\" data-end=\"00:16:08.746\" data-spk=\"2\" data-label=\"Matt\">We were like the third or fourth of six or seven Acquisitions and they did within a year and a half two year period.<\/span><br \/><span title=\"16:10 - 16:19\" data-start=\"00:16:09.750\" data-end=\"00:16:19.310\" data-spk=\"2\" data-label=\"Matt\">And then as part of my year there I did get involved in some of their business development MMA,<\/span><br \/><span title=\"16:20 - 16:25\" data-start=\"00:16:19.659\" data-end=\"00:16:24.749\" data-spk=\"2\" data-label=\"Matt\">conversations and and I did spend a little bit of time helping them,<\/span><br \/><span title=\"16:25 - 16:34\" data-start=\"00:16:25.055\" data-end=\"00:16:34.171\" data-spk=\"2\" data-label=\"Matt\">on one of the further Acquisitions but you know they what I learned about Walmart when I was there is.<\/span><br \/><span title=\"16:35 - 16:47\" data-start=\"00:16:34.598\" data-end=\"00:16:46.555\" data-spk=\"2\" data-label=\"Matt\">They have such a strong culture they have a real clear view of who their customer is and why they\u2019re serving them and you know I would tell you that.<\/span><br \/><span title=\"16:47 - 16:55\" data-start=\"00:16:47.319\" data-end=\"00:16:54.523\" data-spk=\"2\" data-label=\"Matt\">The Acquisitions that spray that they went on those two years was really a catalyst for.<\/span><br \/><span title=\"16:55 - 17:02\" data-start=\"00:16:55.011\" data-end=\"00:17:02.341\" data-spk=\"2\" data-label=\"Matt\">Something that W Mellon said at a meeting that I attended where he talked about convenience.<\/span><\/p>\n<p><small>[17:03]<\/small>\u00a0<span title=\"17:03 - 17:14\" data-start=\"00:17:03.219\" data-end=\"00:17:14.137\" data-spk=\"2\" data-label=\"Matt\">Being valued as much as low-cost in the kind of the online or multi-channel retail environment versus pre-internet,<\/span><br \/><span title=\"17:14 - 17:23\" data-start=\"00:17:14.390\" data-end=\"00:17:22.640\" data-spk=\"2\" data-label=\"Matt\">and so they had to find a catalyst under Mark Lori to accelerate their the cultural change,<\/span><br \/><span title=\"17:23 - 17:31\" data-start=\"00:17:22.953\" data-end=\"00:17:30.818\" data-spk=\"2\" data-label=\"Matt\">to understand how customers writ large were valuing convenience as much as low-cost when their Heritage had been,<\/span><br \/><span title=\"17:31 - 17:42\" data-start=\"00:17:31.209\" data-end=\"00:17:41.797\" data-spk=\"2\" data-label=\"Matt\">Yoda Point technology to make improvements in supply chain and sourcing and Merchandising so that they could always win on price now they had a win on price and convenience,<\/span><br \/><span title=\"17:42 - 17:50\" data-start=\"00:17:42.086\" data-end=\"00:17:49.789\" data-spk=\"2\" data-label=\"Matt\">and so though the individual Acquisitions You could argue whether there was an Roi on them or not against the purchase price.<\/span><br \/><span title=\"17:50 - 17:53\" data-start=\"00:17:50.390\" data-end=\"00:17:52.583\" data-spk=\"2\" data-label=\"Matt\">I would say that.<\/span><br \/><span title=\"17:53 - 18:01\" data-start=\"00:17:53.010\" data-end=\"00:18:00.876\" data-spk=\"2\" data-label=\"Matt\">Internally it was a massive success in creating that kind of cultural change that Doug.<\/span><br \/><span title=\"18:02 - 18:03\" data-start=\"00:18:01.591\" data-end=\"00:18:03.297\" data-spk=\"2\" data-label=\"Matt\">Mandated from.<\/span><br \/><span title=\"18:04 - 18:18\" data-start=\"00:18:03.935\" data-end=\"00:18:17.509\" data-spk=\"2\" data-label=\"Matt\">Mark and and then you know I was only there a year and I left but just watching what progressed and if you look at the moldable on Walmart stock I think it\u2019s hard to argue that it wasn\u2019t a success.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[18:18]<\/small>\u00a0<span title=\"18:18 - 18:32\" data-start=\"00:18:17.954\" data-end=\"00:18:32.183\" data-spk=\"1\" data-label=\"Scot\">Yes tricky with Acquisitions you can\u2019t just look at the you know the interior ModCloth business you have to look at the whole halo effect and the stock price yeah there\u2019s a multi-faceted way to look at these things that\u2019s kind of complicated.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[18:32]<\/small>\u00a0<span title=\"18:32 - 18:46\" data-start=\"00:18:31.973\" data-end=\"00:18:45.709\" data-spk=\"2\" data-label=\"Matt\">Yeah I think any business that they could grow if you could grow organically in definitely I think most businesses would do that there\u2019s a reason why companies you know use MMA to your point.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[18:46]<\/small>\u00a0<span title=\"18:46 - 18:52\" data-start=\"00:18:46.118\" data-end=\"00:18:51.676\" data-spk=\"1\" data-label=\"Scot\">Did some point I think I saw a ModCloth working to the stores where you there for that.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[18:53]<\/small>\u00a0<span title=\"18:53 - 19:03\" data-start=\"00:18:52.831\" data-end=\"00:19:02.919\" data-spk=\"2\" data-label=\"Matt\">No no that I left before any of those kind of process integration initiatives occurred.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[19:03]<\/small>\u00a0<span title=\"19:03 - 19:08\" data-start=\"00:19:03.304\" data-end=\"00:19:07.829\" data-spk=\"1\" data-label=\"Scot\">Yeah and then didn\u2019t they do they sell it back out do they spin it.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[19:08]<\/small>\u00a0<span title=\"19:08 - 19:23\" data-start=\"00:19:07.913\" data-end=\"00:19:22.905\" data-spk=\"2\" data-label=\"Matt\">Yeah they sold it back out there were some after I left there were some further leadership changes that occurred and and they wound up the best thing it and selling it to I want to say it was a fermented New York.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[19:23]<\/small>\u00a0<span title=\"19:23 - 19:25\" data-start=\"00:19:23.026\" data-end=\"00:19:25.345\" data-spk=\"1\" data-label=\"Scot\">Like a private Equity Firm or another.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[19:24]<\/small>\u00a0<span title=\"19:24 - 19:26\" data-start=\"00:19:24.366\" data-end=\"00:19:26.036\" data-spk=\"2\" data-label=\"Matt\">Yeah I think so yeah.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[19:28]<\/small>\u00a0<span title=\"19:28 - 19:37\" data-start=\"00:19:27.575\" data-end=\"00:19:37.165\" data-spk=\"1\" data-label=\"Scot\">Did you didn\u2019t want to jump in there and take it over again usually they call the previous CEO I bet there\u2019s an 80% chance you got a call.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[19:37]<\/small>\u00a0<span title=\"19:37 - 19:41\" data-start=\"00:19:37.220\" data-end=\"00:19:41.071\" data-spk=\"2\" data-label=\"Matt\">No comment.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[19:41]<\/small>\u00a0<span title=\"19:41 - 19:55\" data-start=\"00:19:40.843\" data-end=\"00:19:55.000\" data-spk=\"1\" data-label=\"Scot\">All right we found something you don\u2019t want to talk about good it\u2019s part of my goal on this show is to see if we can we can find that you have any family safe Mark Lori stories I\u2019ve spent a fair amount of time with him he\u2019s a he\u2019s a pretty wacky dude.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[19:56]<\/small>\u00a0<span title=\"19:56 - 20:08\" data-start=\"00:19:55.908\" data-end=\"00:20:08.412\" data-spk=\"2\" data-label=\"Matt\">I mean I didn\u2019t spend that much time working for him but I mean man like talk about somebody who just has total belief in himself and the team and what\u2019s possible,<\/span><br \/><span title=\"20:09 - 20:12\" data-start=\"00:20:08.779\" data-end=\"00:20:12.396\" data-spk=\"2\" data-label=\"Matt\">and so much energy for.<\/span><br \/><span title=\"20:13 - 20:24\" data-start=\"00:20:12.817\" data-end=\"00:20:24.204\" data-spk=\"2\" data-label=\"Matt\">For Commerce for startups for Innovation so I mean it\u2019s it was contagious working for him,<\/span><br \/><span title=\"20:25 - 20:31\" data-start=\"00:20:24.607\" data-end=\"00:20:31.445\" data-spk=\"2\" data-label=\"Matt\">um working for his team\u2019s I wanted to takeaways I had for my time at Walmart and my time working with.<\/span><\/p>\n<p><small>[20:32]<\/small>\u00a0<span title=\"20:32 - 20:41\" data-start=\"00:20:31.998\" data-end=\"00:20:41.017\" data-spk=\"2\" data-label=\"Matt\">With Mark and his jet team is I just didn\u2019t have that kind of passion for the mass-market the way that,<\/span><br \/><span title=\"20:41 - 20:49\" data-start=\"00:20:41.312\" data-end=\"00:20:48.715\" data-spk=\"2\" data-label=\"Matt\">you had to have to be successful working at a Walmart or working at a jet before the acquisition,<\/span><br \/><span title=\"20:49 - 20:59\" data-start=\"00:20:49.094\" data-end=\"00:20:59.039\" data-spk=\"2\" data-label=\"Matt\">yeah I love the specialty space I love you know the Branded premium space I love,<\/span><br \/><span title=\"20:59 - 21:07\" data-start=\"00:20:59.436\" data-end=\"00:21:06.796\" data-spk=\"2\" data-label=\"Matt\">Yoda kind of the Middle Market where it\u2019s not based on price and it\u2019s not luxury it\u2019s somewhere in between.<\/span><br \/><span title=\"21:07 - 21:14\" data-start=\"00:21:07.247\" data-end=\"00:21:13.659\" data-spk=\"2\" data-label=\"Matt\">I just find that that it\u2019s super creative there\u2019s lots of opportunities for differentiation.<\/span><br \/><span title=\"21:14 - 21:26\" data-start=\"00:21:14.080\" data-end=\"00:21:26.338\" data-spk=\"2\" data-label=\"Matt\">There\u2019s always new things that you get to learn but you know Walmart I got there was a camera don\u2019t quote me on the exact number but.<\/span><\/p>\n<p><small>[21:27]<\/small>\u00a0<span title=\"21:27 - 21:36\" data-start=\"00:21:26.945\" data-end=\"00:21:35.928\" data-spk=\"2\" data-label=\"Matt\">Like there was a conversation about like how many millions of American flags are they going to sell between Memorial Day and and.<\/span><br \/><span title=\"21:36 - 21:38\" data-start=\"00:21:36.343\" data-end=\"00:21:37.821\" data-spk=\"2\" data-label=\"Matt\">And Fourth of July.<\/span><\/p>\n<p><small>[21:38]<\/small>\u00a0<span title=\"21:38 - 21:48\" data-start=\"00:21:38.471\" data-end=\"00:21:47.670\" data-spk=\"2\" data-label=\"Matt\">On one of their promos and I was just like I couldn\u2019t even fathom the scale of having to move that many units and so,<\/span><br \/><span title=\"21:48 - 21:56\" data-start=\"00:21:48.073\" data-end=\"00:21:55.908\" data-spk=\"2\" data-label=\"Matt\">yep so for me it was kind of a validation of the lane that I\u2019ve been in and and enjoyed being in and so when I left.<\/span><br \/><span title=\"21:56 - 22:06\" data-start=\"00:21:56.390\" data-end=\"00:22:05.968\" data-spk=\"2\" data-label=\"Matt\">Eventually wind up going to Lucky that was kind of part of the calculus on my part was to get back into the into that that category that Wayne of specialty.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[22:07]<\/small>\u00a0<span title=\"22:07 - 22:16\" data-start=\"00:22:06.563\" data-end=\"00:22:16.051\" data-spk=\"1\" data-label=\"Scot\">My one of my first Mark Laurie experiences I was at Jet and he was telling us how the Company motto was billions or body bags and I was like that\u2019s kind of a weird way to motivate,<\/span><br \/><span title=\"22:16 - 22:30\" data-start=\"00:22:16.424\" data-end=\"00:22:29.565\" data-spk=\"1\" data-label=\"Scot\">and then I talked to several employees I was like how do you like it here and there like billions of body bags that like they were just like it was a mantra like you know that they were just so focused on it was either going to be 0 or this huge outcome and sure enough it was billions.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[22:31]<\/small>\u00a0<span title=\"22:31 - 22:44\" data-start=\"00:22:30.731\" data-end=\"00:22:44.281\" data-spk=\"2\" data-label=\"Matt\">Yeah there\u2019s there\u2019s definitely I mean I think think he was a successful High School athlete so there\u2019s definitely a lot of rah-rah with with him in the team it\u2019s that\u2019s not my personality I.<\/span><br \/><span title=\"22:45 - 22:52\" data-start=\"00:22:44.919\" data-end=\"00:22:51.793\" data-spk=\"2\" data-label=\"Matt\">ModCloth one of the investors accused me of being two column in the boardroom.<\/span><br \/><span title=\"22:53 - 23:03\" data-start=\"00:22:52.797\" data-end=\"00:23:02.976\" data-spk=\"2\" data-label=\"Matt\">They said you know Matt if you had slammed on the table a little bit more you know and I\u2019m sitting there like like.<\/span><br \/><span title=\"23:04 - 23:14\" data-start=\"00:23:03.607\" data-end=\"00:23:13.972\" data-spk=\"2\" data-label=\"Matt\">That\u2019s the that never crossed my mind trying to make an argument to do something required me slamming my hand on the table.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[23:14]<\/small>\u00a0<span title=\"23:14 - 23:16\" data-start=\"00:23:14.393\" data-end=\"00:23:15.511\" data-spk=\"1\" data-label=\"Scot\">A tantrum yeah.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[23:15]<\/small>\u00a0<span title=\"23:15 - 23:22\" data-start=\"00:23:14.664\" data-end=\"00:23:22.091\" data-spk=\"2\" data-label=\"Matt\">My voice yeah but maybe that\u2019s Versa tween you know a founder and yeah an operator.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[23:23]<\/small>\u00a0<span title=\"23:23 - 23:25\" data-start=\"00:23:22.536\" data-end=\"00:23:25.269\" data-spk=\"0\" data-label=\"Jason\">Scot was definitely a table Slammer.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[23:25]<\/small>\u00a0<span title=\"23:25 - 23:28\" data-start=\"00:23:25.270\" data-end=\"00:23:27.733\" data-spk=\"2\" data-label=\"Matt\">I don\u2019t believe you.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[23:26]<\/small>\u00a0<span title=\"23:26 - 23:33\" data-start=\"00:23:26.303\" data-end=\"00:23:33.327\" data-spk=\"1\" data-label=\"Scot\">Like man I have an engineering background and they drummed that out of us in those four years.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[23:33]<\/small>\u00a0<span title=\"23:33 - 23:43\" data-start=\"00:23:33.286\" data-end=\"00:23:43.212\" data-spk=\"2\" data-label=\"Matt\">Totally yeah I think you\u2019re right I think the scientific method does not allow for that that level of emotion that come into into the argument.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[23:44]<\/small>\u00a0<span title=\"23:44 - 23:48\" data-start=\"00:23:43.658\" data-end=\"00:23:48.458\" data-spk=\"0\" data-label=\"Jason\">Yeah but I will say a lot of mechanical things can be fixed by hitting them with a hammer I will,<\/span><br \/><span title=\"23:49 - 24:00\" data-start=\"00:23:48.825\" data-end=\"00:24:00.410\" data-spk=\"0\" data-label=\"Jason\">the so I\u2019m super grateful that you guys didn\u2019t throw Mark Glory under the table because I at the moment have to totally pandor to him because his new business he has<\/span><br \/><span title=\"24:00 - 24:06\" data-start=\"00:24:00.321\" data-end=\"00:24:05.776\" data-spk=\"0\" data-label=\"Jason\">Starbucks trucks that will drive to your house and deliver coffee to your house,<\/span><br \/><span title=\"24:06 - 24:11\" data-start=\"00:24:06.047\" data-end=\"00:24:11.485\" data-spk=\"0\" data-label=\"Jason\">so I like I feel like I need to stay in his good graces,<\/span><br \/><span title=\"24:12 - 24:26\" data-start=\"00:24:11.624\" data-end=\"00:24:26.027\" data-spk=\"0\" data-label=\"Jason\">but so so the sale happens you transition out of ModCloth you\u2019ve you\u2019ve got kids in college and or in school and no source of free clothing so I\u2019m guessing that\u2019s what drove the,<\/span><br \/><span title=\"24:26 - 24:28\" data-start=\"00:24:26.070\" data-end=\"00:24:28.178\" data-spk=\"0\" data-label=\"Jason\">you\u2019re interesting lucky brands.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[24:28]<\/small>\u00a0<span title=\"24:28 - 24:33\" data-start=\"00:24:28.143\" data-end=\"00:24:33.334\" data-spk=\"2\" data-label=\"Matt\">Yeah well I got to say.<\/span><br \/><span title=\"24:34 - 24:42\" data-start=\"00:24:34.056\" data-end=\"00:24:42.203\" data-spk=\"2\" data-label=\"Matt\">When I worked at Urban my wife definitely took advantage of the anthropology discount.<\/span><\/p>\n<p><small>[24:43]<\/small>\u00a0<span title=\"24:43 - 24:48\" data-start=\"00:24:43.496\" data-end=\"00:24:47.936\" data-spk=\"2\" data-label=\"Matt\">And I act funny funny and true story,<\/span><br \/><span title=\"24:48 - 24:59\" data-start=\"00:24:48.321\" data-end=\"00:24:59.299\" data-spk=\"2\" data-label=\"Matt\">when I was considering the opportunity at ModCloth I was having a couple other conversations in the in the fashion space.<\/span><br \/><span title=\"25:00 - 25:09\" data-start=\"00:24:59.732\" data-end=\"00:25:09.286\" data-spk=\"2\" data-label=\"Matt\">And I showed my daughter who at the time was probably about seven or eight I showed her the apps for the shopping apps for,<\/span><br \/><span title=\"25:10 - 25:25\" data-start=\"00:25:09.581\" data-end=\"00:25:24.549\" data-spk=\"2\" data-label=\"Matt\">the three businesses that I was talking to and I won\u2019t say who but there was one in particular based in La that she was like Dad no way she was like you cannot work selling that fashion.<\/span><br \/><span title=\"25:25 - 25:36\" data-start=\"00:25:24.982\" data-end=\"00:25:36.087\" data-spk=\"2\" data-label=\"Matt\">But she approved of ModCloth and so so I got her endorsement so yeah when I went to Lucky it\u2019s really I wasn\u2019t necessarily looking.<\/span><br \/><span title=\"25:37 - 25:47\" data-start=\"00:25:36.568\" data-end=\"00:25:46.801\" data-spk=\"2\" data-label=\"Matt\">You\u2019re back into fashion as much as I really thought that there was this route there\u2019s a unique opportunity with lucky they were.<\/span><br \/><span title=\"25:47 - 25:59\" data-start=\"00:25:47.372\" data-end=\"00:25:58.819\" data-spk=\"2\" data-label=\"Matt\">Over a billion in gmv which is to say the direct to Consumer wholesale and the value of their licensing business in the market was over a billion dollars.<\/span><br \/><span title=\"25:59 - 26:07\" data-start=\"00:25:59.324\" data-end=\"00:26:07.214\" data-spk=\"2\" data-label=\"Matt\">So brand revenues and net revenue is like call it 650 million and it was independent.<\/span><\/p>\n<p><small>[26:08]<\/small>\u00a0<span title=\"26:08 - 26:13\" data-start=\"00:26:07.839\" data-end=\"00:26:12.880\" data-spk=\"2\" data-label=\"Matt\">And there were not a lot of businesses at that scale.<\/span><br \/><span title=\"26:13 - 26:20\" data-start=\"00:26:13.494\" data-end=\"00:26:20.007\" data-spk=\"2\" data-label=\"Matt\">In the u.s. that still were independent versus part of a conglomerate.<\/span><\/p>\n<p><small>[26:21]<\/small>\u00a0<span title=\"26:21 - 26:28\" data-start=\"00:26:20.909\" data-end=\"00:26:28.221\" data-spk=\"2\" data-label=\"Matt\">And we\u2019re had already gone public and so I had been friendly with one of the partners at Wintergreen.<\/span><br \/><span title=\"26:29 - 26:36\" data-start=\"00:26:28.871\" data-end=\"00:26:36.033\" data-spk=\"2\" data-label=\"Matt\">Who called me about the opportunity and after spending some time with them talking about it I said.<\/span><br \/><span title=\"26:37 - 26:50\" data-start=\"00:26:36.502\" data-end=\"00:26:49.572\" data-spk=\"2\" data-label=\"Matt\">You really need somebody in LA full time in the arts district where they were headquartered and I\u2019m not moving to LA and moving actually back east and they said.<\/span><br \/><span title=\"26:50 - 26:59\" data-start=\"00:26:50.287\" data-end=\"00:26:58.693\" data-spk=\"2\" data-label=\"Matt\">Hey would you come in and manage the company to get us through holiday while we won for somebody.<\/span><br \/><span title=\"27:00 - 27:06\" data-start=\"00:26:59.517\" data-end=\"00:27:06.427\" data-spk=\"2\" data-label=\"Matt\">And also give us a strategy like a like a financial model a business case three-year strategy.<\/span><br \/><span title=\"27:07 - 27:16\" data-start=\"00:27:07.119\" data-end=\"00:27:16.270\" data-spk=\"2\" data-label=\"Matt\">And so that\u2019s how I initially got involved there was more as like a board advisor interim manager and then.<\/span><br \/><span title=\"27:17 - 27:25\" data-start=\"00:27:17.022\" data-end=\"00:27:24.731\" data-spk=\"2\" data-label=\"Matt\">By January of twenty I\u2019d really seen this amazing Lane.<\/span><br \/><span title=\"27:26 - 27:29\" data-start=\"00:27:25.711\" data-end=\"00:27:29.460\" data-spk=\"2\" data-label=\"Matt\">For an older Millennial younger Gen-X.<\/span><br \/><span title=\"27:30 - 27:44\" data-start=\"00:27:29.875\" data-end=\"00:27:43.515\" data-spk=\"2\" data-label=\"Matt\">That we could reposition Lucky Brand to be a cause marketer the company did a tremendous amount of good work in Downtown LA taking.<\/span><br \/><span title=\"27:44 - 27:48\" data-start=\"00:27:44.026\" data-end=\"00:27:48.485\" data-spk=\"2\" data-label=\"Matt\">Old Denim and.<\/span><\/p>\n<p><small>[27:50]<\/small>\u00a0<span title=\"27:50 - 27:52\" data-start=\"00:27:50.023\" data-end=\"00:27:51.531\" data-spk=\"2\" data-label=\"Matt\">Giving it.<\/span><br \/><span title=\"27:52 - 28:01\" data-start=\"00:27:52.235\" data-end=\"00:28:00.996\" data-spk=\"2\" data-label=\"Matt\">Nonprofits that work with the homeless population there for clothing to for installation.<\/span><br \/><span title=\"28:02 - 28:08\" data-start=\"00:28:01.543\" data-end=\"00:28:08.483\" data-spk=\"2\" data-label=\"Matt\">And then other other efforts to help that population,<\/span><br \/><span title=\"28:09 - 28:18\" data-start=\"00:28:08.880\" data-end=\"00:28:18.470\" data-spk=\"2\" data-label=\"Matt\">and so I felt like we could reposition lucky to not mean like going to the casino getting lucky but meaning gratitude.<\/span><br \/><span title=\"28:19 - 28:26\" data-start=\"00:28:18.921\" data-end=\"00:28:25.915\" data-spk=\"2\" data-label=\"Matt\">Like I feel lucky I made it I have the ability to spend a hundred dollars in a pair of jeans and I want to support.<\/span><\/p>\n<p><small>[28:27]<\/small>\u00a0<span title=\"28:27 - 28:33\" data-start=\"00:28:27.388\" data-end=\"00:28:33.318\" data-spk=\"2\" data-label=\"Matt\">This this amazing company that does all this good work and so.<\/span><br \/><span title=\"28:34 - 28:43\" data-start=\"00:28:33.920\" data-end=\"00:28:43.173\" data-spk=\"2\" data-label=\"Matt\">That I had this vision for how you could reposition the brand the business was running like it was 2005 as far as.<\/span><br \/><span title=\"28:44 - 28:53\" data-start=\"00:28:43.744\" data-end=\"00:28:52.794\" data-spk=\"2\" data-label=\"Matt\">Go to market so there was a lot of heavy lifting that had to be done around digital transformation around merchandising around.<\/span><br \/><span title=\"28:53 - 28:59\" data-start=\"00:28:53.221\" data-end=\"00:28:58.857\" data-spk=\"2\" data-label=\"Matt\">Rationalizing the stores there was way too much discount so there\u2019s a lot of work to do,<\/span><br \/><span title=\"28:59 - 29:07\" data-start=\"00:28:59.266\" data-end=\"00:29:07.486\" data-spk=\"2\" data-label=\"Matt\">but I got really excited about the opportunity and wound up agreeing to stay on as exact chair in January 2020.<\/span><br \/><span title=\"29:08 - 29:22\" data-start=\"00:29:08.135\" data-end=\"00:29:22.454\" data-spk=\"2\" data-label=\"Matt\">And part of my remit would have been to hire a CEO and partner with that individual and I had to kill people in my network that I thought would be great for it who be willing to move to LA.<\/span><br \/><span title=\"29:23 - 29:28\" data-start=\"00:29:22.888\" data-end=\"00:29:27.676\" data-spk=\"2\" data-label=\"Matt\">But two months later the covid walk down start.<\/span><br \/><span title=\"29:28 - 29:38\" data-start=\"00:29:28.368\" data-end=\"00:29:38.120\" data-spk=\"2\" data-label=\"Matt\">And then it turned into something you know completely different than we were just trying to survive we lost ninety percent of our revenue and that April.<\/span><br \/><span title=\"29:39 - 29:42\" data-start=\"00:29:38.685\" data-end=\"00:29:41.557\" data-spk=\"2\" data-label=\"Matt\">And we wound up.<\/span><\/p>\n<p><small>[29:43]<\/small>\u00a0<span title=\"29:43 - 29:54\" data-start=\"00:29:42.850\" data-end=\"00:29:53.599\" data-spk=\"2\" data-label=\"Matt\">Making it through to July August that summer but at that point yeah the damage had been done and the private Equity Firm decided to.<\/span><br \/><span title=\"29:54 - 30:07\" data-start=\"00:29:54.051\" data-end=\"00:30:06.795\" data-spk=\"2\" data-label=\"Matt\">Sell it to a party that had been interested in the business for a number of years which was authentic Brands group out of New York so I stayed on to oversee that process and then once the deal is done I.<\/span><br \/><span title=\"30:07 - 30:20\" data-start=\"00:30:07.325\" data-end=\"00:30:19.625\" data-spk=\"2\" data-label=\"Matt\">Said that was a lot of work I\u2019m exhausted and wound up turning down the opportunity to stay on with a b g and left but,<\/span><br \/><span title=\"30:20 - 30:28\" data-start=\"00:30:20.010\" data-end=\"00:30:27.905\" data-spk=\"2\" data-label=\"Matt\">I got to say I\u2019m really grateful thankful for the team that I had there because they were amazing,<\/span><br \/><span title=\"30:28 - 30:35\" data-start=\"00:30:28.272\" data-end=\"00:30:34.750\" data-spk=\"2\" data-label=\"Matt\">to work with during such a difficult period that that Q2.<\/span><br \/><span title=\"30:35 - 30:45\" data-start=\"00:30:35.381\" data-end=\"00:30:44.653\" data-spk=\"2\" data-label=\"Matt\">And early summer of 2020 it was it was really really challenging to be in the market and I learned a lot about myself as a leader from it.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[30:46]<\/small>\u00a0<span title=\"30:46 - 30:49\" data-start=\"00:30:46.125\" data-end=\"00:30:48.955\" data-spk=\"0\" data-label=\"Jason\">Oh my gosh I I am sure you did<\/span><br \/><span title=\"30:49 - 30:59\" data-start=\"00:30:48.787\" data-end=\"00:30:58.654\" data-spk=\"0\" data-label=\"Jason\">I\u2019m laughing though because you think about all the work involved there and so you decided to do something easier in your next gig like<\/span><br \/><span title=\"30:58 - 31:08\" data-start=\"00:30:58.498\" data-end=\"00:31:08.220\" data-spk=\"0\" data-label=\"Jason\">oh I don\u2019t know like starting from scratch business in the middle of a really old non-profit.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[31:08]<\/small>\u00a0<span title=\"31:08 - 31:17\" data-start=\"00:31:07.920\" data-end=\"00:31:16.777\" data-spk=\"2\" data-label=\"Matt\">Well I gotta say you know after after the lucky experience.<\/span><br \/><span title=\"31:17 - 31:23\" data-start=\"00:31:17.306\" data-end=\"00:31:22.822\" data-spk=\"2\" data-label=\"Matt\">Um I really felt drained I didn\u2019t have.<\/span><br \/><span title=\"31:23 - 31:28\" data-start=\"00:31:23.381\" data-end=\"00:31:27.828\" data-spk=\"2\" data-label=\"Matt\">The passion for retail for e-commerce digital for.<\/span><br \/><span title=\"31:28 - 31:38\" data-start=\"00:31:28.255\" data-end=\"00:31:37.508\" data-spk=\"2\" data-label=\"Matt\">Brands for fashion like I had for the previous you know well 15 years and.<\/span><br \/><span title=\"31:38 - 31:46\" data-start=\"00:31:37.959\" data-end=\"00:31:45.711\" data-spk=\"2\" data-label=\"Matt\">I was fortunate that I have the ability to do this but I basically gave myself 2021 off.<\/span><br \/><span title=\"31:46 - 32:00\" data-start=\"00:31:46.138\" data-end=\"00:31:59.742\" data-spk=\"2\" data-label=\"Matt\">I\u2019ve been sitting on a few boards I did some Consulting work I had been Angel Investing for a few years so I had a number of startup Founders and CEOs that I was mentoring and Advising,<\/span><br \/><span title=\"32:00 - 32:09\" data-start=\"00:32:00.091\" data-end=\"00:32:08.689\" data-spk=\"2\" data-label=\"Matt\">and I just said to myself I really need to get re-inspired I need to like,<\/span><br \/><span title=\"32:09 - 32:17\" data-start=\"00:32:09.050\" data-end=\"00:32:16.838\" data-spk=\"2\" data-label=\"Matt\">get back out in the market broadly see what\u2019s happening see where the Innovation is occurring and and,<\/span><br \/><span title=\"32:17 - 32:27\" data-start=\"00:32:17.229\" data-end=\"00:32:26.789\" data-spk=\"2\" data-label=\"Matt\">get excited but also get lucky because a lot of these things from a career perspective is based on timing I was really fortunate that.<\/span><\/p>\n<p><small>[32:27]<\/small>\u00a0<span title=\"32:27 - 32:33\" data-start=\"00:32:27.420\" data-end=\"00:32:33.411\" data-spk=\"2\" data-label=\"Matt\">I went to Urban when I did I was really fortunate to be part of,<\/span><br \/><span title=\"32:34 - 32:45\" data-start=\"00:32:33.748\" data-end=\"00:32:44.732\" data-spk=\"2\" data-label=\"Matt\">ModCloth the journey during the years that was there the year that I was at Walmart was a really critical year in the Amazon the Walmart Battle.<\/span><br \/><span title=\"32:45 - 32:49\" data-start=\"00:32:45.147\" data-end=\"00:32:48.505\" data-spk=\"2\" data-label=\"Matt\">Um amazing timing too.<\/span><br \/><span title=\"32:49 - 32:57\" data-start=\"00:32:48.993\" data-end=\"00:32:56.732\" data-spk=\"2\" data-label=\"Matt\">Be available to do Consulting work with the after pay the exact summer that the founder moved from Australia to San Francisco.<\/span><br \/><span title=\"32:57 - 33:03\" data-start=\"00:32:57.147\" data-end=\"00:33:02.645\" data-spk=\"2\" data-label=\"Matt\">So you know I\u2019m acutely aware that you can\u2019t control timing and,<\/span><br \/><span title=\"33:03 - 33:17\" data-start=\"00:33:03.024\" data-end=\"00:33:17.229\" data-spk=\"2\" data-label=\"Matt\">and yet the kind of put yourself out there so that was my plan last year and in doing so what I realized was I\u2019m like I get the most energy and I do my best work when,<\/span><br \/><span title=\"33:18 - 33:21\" data-start=\"00:33:17.548\" data-end=\"00:33:21.279\" data-spk=\"2\" data-label=\"Matt\">back in the phase of a company where it\u2019s.<\/span><\/p>\n<p><small>[33:22]<\/small>\u00a0<span title=\"33:22 - 33:29\" data-start=\"00:33:21.970\" data-end=\"00:33:28.928\" data-spk=\"2\" data-label=\"Matt\">Focused on growth and Innovation and so no more turnarounds the end of Lucky business was a turnaround.<\/span><br \/><span title=\"33:29 - 33:34\" data-start=\"00:33:29.374\" data-end=\"00:33:33.826\" data-spk=\"2\" data-label=\"Matt\">ModCloth was a pseudo turn around,<\/span><br \/><span title=\"33:34 - 33:47\" data-start=\"00:33:34.103\" data-end=\"00:33:47.202\" data-spk=\"2\" data-label=\"Matt\">so I just said you know I want to get back to you know that stage where it\u2019s really about solving for customer needs and Market positioning and Prague service Innovation and deploying technology,<\/span><br \/><span title=\"33:48 - 33:55\" data-start=\"00:33:47.545\" data-end=\"00:33:54.647\" data-spk=\"2\" data-label=\"Matt\">and then a couple that with also wanted to get in a part of retail where I can learn.<\/span><br \/><span title=\"33:55 - 34:03\" data-start=\"00:33:55.122\" data-end=\"00:34:02.717\" data-spk=\"2\" data-label=\"Matt\">And you know secondhand what\u2019s happening right now the this whole cultural phenomenon around thrifting,<\/span><br \/><span title=\"34:03 - 34:12\" data-start=\"00:34:03.000\" data-end=\"00:34:11.599\" data-spk=\"2\" data-label=\"Matt\">and you\u2019re the pioneering work of a thread up and a real real Poshmark deep op-ed see ya the last decade,<\/span><br \/><span title=\"34:12 - 34:19\" data-start=\"00:34:11.888\" data-end=\"00:34:19.393\" data-spk=\"2\" data-label=\"Matt\">that was the that was the heavy lifting you know those Founders you know basically creating the category,<\/span><br \/><span title=\"34:20 - 34:27\" data-start=\"00:34:19.712\" data-end=\"00:34:27.379\" data-spk=\"2\" data-label=\"Matt\">but now there\u2019s a critical mass now there\u2019s a consumer acceptance so I don\u2019t see it as it as a,<\/span><br \/><span title=\"34:28 - 34:40\" data-start=\"00:34:27.764\" data-end=\"00:34:40.226\" data-spk=\"2\" data-label=\"Matt\">as hard as maybe it looks like from the outside it\u2019s I think it\u2019s the timing is great for the Goodwill Network to Rally around this new platform for us.<\/span><br \/><span title=\"34:41 - 34:48\" data-start=\"00:34:40.791\" data-end=\"00:34:47.870\" data-spk=\"2\" data-label=\"Matt\">As a separate entity to stand up this new company to launch this new Marketplace.<\/span><\/p>\n<p><small>[34:48]<\/small>\u00a0<span title=\"34:48 - 34:55\" data-start=\"00:34:48.447\" data-end=\"00:34:55.267\" data-spk=\"2\" data-label=\"Matt\">There\u2019s definitely engineering challenges to figuring out how do you successfully profitably scale.<\/span><br \/><span title=\"34:56 - 35:05\" data-start=\"00:34:55.736\" data-end=\"00:35:04.821\" data-spk=\"2\" data-label=\"Matt\">Um second-hand and vintage when you know every item is unique and we have a distributed model where our sellers are.<\/span><br \/><span title=\"35:05 - 35:07\" data-start=\"00:35:05.320\" data-end=\"00:35:06.594\" data-spk=\"2\" data-label=\"Matt\">Various.<\/span><br \/><span title=\"35:07 - 35:17\" data-start=\"00:35:07.400\" data-end=\"00:35:17.164\" data-spk=\"2\" data-label=\"Matt\">Goodwill members across the u.s. so we\u2019re not centralized so there\u2019s definitely some some challenges but to me that\u2019s part of the fun that\u2019s part of the learning.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[35:18]<\/small>\u00a0<span title=\"35:18 - 35:26\" data-start=\"00:35:17.669\" data-end=\"00:35:25.751\" data-spk=\"0\" data-label=\"Jason\">I can imagine I want to take just half a step backwards to make sure the listeners are tracking with exactly what you\u2019re doing now because I think it\u2019s super interesting so,<\/span><br \/><span title=\"35:26 - 35:35\" data-start=\"00:35:25.751\" data-end=\"00:35:34.927\" data-spk=\"0\" data-label=\"Jason\">formal title is CEO of goodwillfinds and goodwillfinds is a new offering from Goodwill that is<\/span><br \/><span title=\"35:35 - 35:44\" data-start=\"00:35:34.867\" data-end=\"00:35:43.868\" data-spk=\"0\" data-label=\"Jason\">selling Goodwill Merchant previously owned Goodwill merchandise via a website is that the in my clothes.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[35:44]<\/small>\u00a0<span title=\"35:44 - 35:54\" data-start=\"00:35:43.959\" data-end=\"00:35:53.663\" data-spk=\"2\" data-label=\"Matt\">Yeah yeah so I think it\u2019s worth kind of spelling out the context a little bit because it took me a little bit honestly to fully understand it and grasp it.<\/span><br \/><span title=\"35:55 - 36:05\" data-start=\"00:35:55.118\" data-end=\"00:36:05.026\" data-spk=\"2\" data-label=\"Matt\">Goodwill has been around for over 100 Years everybody knows Goodwill it\u2019s an amazing nonprofit franchise.<\/span><br \/><span title=\"36:05 - 36:10\" data-start=\"00:36:05.465\" data-end=\"00:36:10.314\" data-spk=\"2\" data-label=\"Matt\">There is a I call it a holding company I don\u2019t know that that\u2019s the right.<\/span><br \/><span title=\"36:11 - 36:21\" data-start=\"00:36:10.735\" data-end=\"00:36:20.818\" data-spk=\"2\" data-label=\"Matt\">Firm but there is a parent company that owns the Goodwill Master license in Metro DC and they have.<\/span><br \/><span title=\"36:21 - 36:26\" data-start=\"00:36:21.329\" data-end=\"00:36:26.106\" data-spk=\"2\" data-label=\"Matt\">License out the brand to I believe the numbers 155,<\/span><br \/><span title=\"36:26 - 36:33\" data-start=\"00:36:26.437\" data-end=\"00:36:32.854\" data-spk=\"2\" data-label=\"Matt\">individual territories across the u.s. and each of those territories have,<\/span><br \/><span title=\"36:33 - 36:45\" data-start=\"00:36:33.143\" data-end=\"00:36:44.806\" data-spk=\"2\" data-label=\"Matt\">Goodwill organization with their own leadership team their own operations around treasury their own board of directors obviously they vary in.<\/span><br \/><span title=\"36:45 - 36:56\" data-start=\"00:36:45.317\" data-end=\"00:36:56.494\" data-spk=\"2\" data-label=\"Matt\">Size and location and specification and you know mix the revenue and all those things but they all share the same Mission and the mission a Goodwill is.<\/span><\/p>\n<p><small>[36:57]<\/small>\u00a0<span title=\"36:57 - 37:01\" data-start=\"00:36:57.059\" data-end=\"00:37:01.115\" data-spk=\"2\" data-label=\"Matt\">To enhance lives for the Dignity of work,<\/span><br \/><span title=\"37:01 - 37:13\" data-start=\"00:37:01.458\" data-end=\"00:37:12.893\" data-spk=\"2\" data-label=\"Matt\">and it\u2019s my older brother was born with a disability and I\u2019ve watched him go on and off disability a few times in his life and I tell you,<\/span><br \/><span title=\"37:13 - 37:17\" data-start=\"00:37:13.230\" data-end=\"00:37:16.630\" data-spk=\"2\" data-label=\"Matt\">that he\u2019s his best self when he\u2019s working.<\/span><br \/><span title=\"37:17 - 37:26\" data-start=\"00:37:17.154\" data-end=\"00:37:26.191\" data-spk=\"2\" data-label=\"Matt\">So when I first got connected with the folks at Goodwill earlier last year it really touched my heart like I really.<\/span><br \/><span title=\"37:27 - 37:36\" data-start=\"00:37:26.768\" data-end=\"00:37:36.292\" data-spk=\"2\" data-label=\"Matt\">I wanted this to be successful for them because I know how important their mission is but as I got to learn more about the network.<\/span><\/p>\n<p><small>[37:37]<\/small>\u00a0<span title=\"37:37 - 37:45\" data-start=\"00:37:37.098\" data-end=\"00:37:44.566\" data-spk=\"2\" data-label=\"Matt\">Of 155 Goodwill\u2019s and more about the opportunity and there are six founding.<\/span><br \/><span title=\"37:45 - 37:54\" data-start=\"00:37:45.168\" data-end=\"00:37:54.391\" data-spk=\"2\" data-label=\"Matt\">Good we\u2019ll see EOS that came together to organize this new separate entity called goodwillfinds where a virtual Delaware company.<\/span><br \/><span title=\"37:55 - 38:05\" data-start=\"00:37:54.914\" data-end=\"00:38:04.841\" data-spk=\"2\" data-label=\"Matt\">And those six are the ones that are the board that I report to and they\u2019ve been working on this for years they were,<\/span><br \/><span title=\"38:05 - 38:11\" data-start=\"00:38:05.220\" data-end=\"00:38:11.247\" data-spk=\"2\" data-label=\"Matt\">ready to watch this last year and decided that they needed to hire a CEO,<\/span><br \/><span title=\"38:12 - 38:21\" data-start=\"00:38:11.518\" data-end=\"00:38:21.041\" data-spk=\"2\" data-label=\"Matt\">to come in build a team set up the company oversee the launch so I joined pre-revenue and we\u2019re now in our fourth month of selling,<\/span><br \/><span title=\"38:21 - 38:24\" data-start=\"00:38:21.414\" data-end=\"00:38:24.028\" data-spk=\"2\" data-label=\"Matt\">the consumer response has been.<\/span><br \/><span title=\"38:25 - 38:32\" data-start=\"00:38:24.605\" data-end=\"00:38:32.471\" data-spk=\"2\" data-label=\"Matt\">Unbelievable sales are more than doubling month-over-month it\u2019s it\u2019s really.<\/span><br \/><span title=\"38:33 - 38:39\" data-start=\"00:38:32.916\" data-end=\"00:38:38.522\" data-spk=\"2\" data-label=\"Matt\">A unique opportunity to build something that is not only.<\/span><\/p>\n<p><small>[38:39]<\/small>\u00a0<span title=\"38:39 - 38:54\" data-start=\"00:38:39.430\" data-end=\"00:38:53.545\" data-spk=\"2\" data-label=\"Matt\">In a part of retail that is innovating and growing and scaling rapidly but it\u2019s also doing it for this amazing Mission and you know really trying to redefine what does.<\/span><br \/><span title=\"38:54 - 39:08\" data-start=\"00:38:54.314\" data-end=\"00:39:08.477\" data-spk=\"2\" data-label=\"Matt\">Nonprofit in the circular economy look like to deliver social impact at scale so I feel like that\u2019s the Mandate that I signed up for and the team that I\u2019m building.<\/span><br \/><span title=\"39:09 - 39:23\" data-start=\"00:39:08.922\" data-end=\"00:39:22.646\" data-spk=\"2\" data-label=\"Matt\">And the business model that we\u2019re designing right now to go with the marketplace are the is the execution of that but the bigger Vision here is to create this platform that not only.<\/span><\/p>\n<p><small>[39:24]<\/small>\u00a0<span title=\"39:24 - 39:31\" data-start=\"00:39:23.596\" data-end=\"00:39:31.480\" data-spk=\"2\" data-label=\"Matt\">Overtime all 155 Goodwill members will have access to be on as sellers but that.<\/span><br \/><span title=\"39:32 - 39:40\" data-start=\"00:39:32.087\" data-end=\"00:39:39.796\" data-spk=\"2\" data-label=\"Matt\">For the first time we\u2019ll have decentralized marketing funnel brands.<\/span><br \/><span title=\"39:40 - 39:48\" data-start=\"00:39:40.362\" data-end=\"00:39:47.536\" data-spk=\"2\" data-label=\"Matt\">Strategy content messaging 1p data and then.<\/span><\/p>\n<p><small>[39:48]<\/small>\u00a0<span title=\"39:48 - 40:02\" data-start=\"00:39:48.204\" data-end=\"00:40:01.958\" data-spk=\"2\" data-label=\"Matt\">But technical roadmap that were able to deploy that will integrate with the store operations and the back of house operations that will allow for scared investments in technology that all the good wolf can take advantage of.<\/span><br \/><span title=\"40:02 - 40:10\" data-start=\"00:40:02.385\" data-end=\"00:40:09.878\" data-spk=\"2\" data-label=\"Matt\">On the consumer side I think all the players and secondhand have the same goal which is to make the.<\/span><\/p>\n<p><small>[40:10]<\/small>\u00a0<span title=\"40:10 - 40:18\" data-start=\"00:40:10.377\" data-end=\"00:40:18.327\" data-spk=\"2\" data-label=\"Matt\">The option to buy second-hand versus new so compelling and so convenient and so exciting and cool.<\/span><br \/><span title=\"40:19 - 40:28\" data-start=\"00:40:18.748\" data-end=\"00:40:28.169\" data-spk=\"2\" data-label=\"Matt\">That more and more consumption dollars go towards second hand and move away from New and by,<\/span><br \/><span title=\"40:28 - 40:30\" data-start=\"00:40:28.482\" data-end=\"00:40:29.557\" data-spk=\"2\" data-label=\"Matt\">doing that,<\/span><br \/><span title=\"40:30 - 40:40\" data-start=\"00:40:29.900\" data-end=\"00:40:39.905\" data-spk=\"2\" data-label=\"Matt\">it has this incredibly measurable impact on the environment in creating sustainable.<\/span><br \/><span title=\"40:40 - 40:47\" data-start=\"00:40:40.380\" data-end=\"00:40:46.888\" data-spk=\"2\" data-label=\"Matt\">Impact and then in our case you add to it.<\/span><br \/><span title=\"40:47 - 41:02\" data-start=\"00:40:47.327\" data-end=\"00:41:01.730\" data-spk=\"2\" data-label=\"Matt\">The fact that every net dollar that we collect from our sales go back to the location where the Goodwill was the item was donated to fund the Goodwill programs I mean it\u2019s I feel like we\u2019re pioneering,<\/span><br \/><span title=\"41:02 - 41:11\" data-start=\"00:41:02.079\" data-end=\"00:41:10.581\" data-spk=\"2\" data-label=\"Matt\">this new this new kind of business model for circularity and so all that to me is like super compelling super interesting,<\/span><br \/><span title=\"41:11 - 41:17\" data-start=\"00:41:10.948\" data-end=\"00:41:17.462\" data-spk=\"2\" data-label=\"Matt\">and I\u2019m really fortunate that this opportunity found me.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[41:19]<\/small>\u00a0<span title=\"41:19 - 41:28\" data-start=\"00:41:19.013\" data-end=\"00:41:28.092\" data-spk=\"1\" data-label=\"Scot\">Cool hearing you talk about it I can tell you like to build stuff the channel visor we had a lot of customers that were kind of in this General space<\/span><br \/><span title=\"41:28 - 41:35\" data-start=\"00:41:28.080\" data-end=\"00:41:34.666\" data-spk=\"1\" data-label=\"Scot\">the challenge with this use Consignment World Is You Gotta you know I\u2019m sure these Goodwills are getting,<\/span><br \/><span title=\"41:35 - 41:39\" data-start=\"00:41:34.732\" data-end=\"00:41:38.980\" data-spk=\"1\" data-label=\"Scot\">they\u2019re only going to sell online a fraction of what comes in so you got to figure out what<\/span><br \/><span title=\"41:39 - 41:52\" data-start=\"00:41:38.963\" data-end=\"00:41:52.176\" data-spk=\"1\" data-label=\"Scot\">what things do you want to sell in the store versus online you gotta create digital assets which are the descriptions and the pictures and then you gotta you know imagine you\u2019re not going to send them to a central location so then you\u2019ve got to<\/span><br \/><span title=\"41:52 - 41:59\" data-start=\"00:41:52.050\" data-end=\"00:41:58.546\" data-spk=\"1\" data-label=\"Scot\">create a shipping method that works down at the store level how are you guys solving all those problems at scale.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[42:00]<\/small>\u00a0<span title=\"42:00 - 42:10\" data-start=\"00:42:00.036\" data-end=\"00:42:10.492\" data-spk=\"2\" data-label=\"Matt\">Yeah well I\u2019ll tell you a couple of things and you\u2019re exactly right there\u2019s a ton of operational challenges we have a couple things going for us one.<\/span><br \/><span title=\"42:11 - 42:17\" data-start=\"00:42:10.919\" data-end=\"00:42:17.000\" data-spk=\"2\" data-label=\"Matt\">These Goodwills already have the physical infrastructure they already have,<\/span><br \/><span title=\"42:17 - 42:30\" data-start=\"00:42:17.307\" data-end=\"00:42:29.829\" data-spk=\"2\" data-label=\"Matt\">donation centers they already have Micro warehouses that are already selling online as a three-piece seller through Amazon and eBay and some other Regional marketplaces,<\/span><br \/><span title=\"42:30 - 42:35\" data-start=\"00:42:30.160\" data-end=\"00:42:34.654\" data-spk=\"2\" data-label=\"Matt\">so they have a lot of these physical operations setup,<\/span><br \/><span title=\"42:35 - 42:41\" data-start=\"00:42:35.051\" data-end=\"00:42:40.627\" data-spk=\"2\" data-label=\"Matt\">so we\u2019re leveraging that and we\u2019re not having to deploy Capital to do it.<\/span><br \/><span title=\"42:41 - 42:49\" data-start=\"00:42:41.096\" data-end=\"00:42:49.040\" data-spk=\"2\" data-label=\"Matt\">That\u2019s 12 there\u2019s a there\u2019s a maturity in the technology vendor Market you\u2019d be surprised at how many.<\/span><br \/><span title=\"42:49 - 42:52\" data-start=\"00:42:49.467\" data-end=\"00:42:52.363\" data-spk=\"2\" data-label=\"Matt\">Providers are in the space to automate.<\/span><br \/><span title=\"42:53 - 43:06\" data-start=\"00:42:52.862\" data-end=\"00:43:06.334\" data-spk=\"2\" data-label=\"Matt\">We have a partner that we work with that leverages Google Lens technology and Leverage is the Einstein a I was Salesforce that allows us to,<\/span><br \/><span title=\"43:07 - 43:15\" data-start=\"00:43:06.569\" data-end=\"00:43:14.753\" data-spk=\"2\" data-label=\"Matt\">take a lot of the heavy lifting out of item creation we have vendors that we work with that.<\/span><\/p>\n<p><small>[43:15]<\/small>\u00a0<span title=\"43:15 - 43:27\" data-start=\"00:43:15.360\" data-end=\"00:43:27.480\" data-spk=\"2\" data-label=\"Matt\">Take images of items three-dimensional scans that send it to and Outsource in India where descriptions are being written for these items you know so there\u2019s,<\/span><br \/><span title=\"43:28 - 43:37\" data-start=\"00:43:27.817\" data-end=\"00:43:36.908\" data-spk=\"2\" data-label=\"Matt\">and I\u2019m learning this right but you\u2019d be shocked at how much software deployment automation deployment already exists.<\/span><\/p>\n<p><small>[43:38]<\/small>\u00a0<span title=\"43:38 - 43:47\" data-start=\"00:43:37.624\" data-end=\"00:43:46.919\" data-spk=\"2\" data-label=\"Matt\">So we\u2019re managing that to deploy in a way that integrates into these existing operations at and.<\/span><br \/><span title=\"43:47 - 43:52\" data-start=\"00:43:47.334\" data-end=\"00:43:52.183\" data-spk=\"2\" data-label=\"Matt\">The other thing that we have an advantage of is because we are nonprofit.<\/span><\/p>\n<p><small>[43:53]<\/small>\u00a0<span title=\"43:53 - 44:01\" data-start=\"00:43:53.271\" data-end=\"00:44:01.107\" data-spk=\"2\" data-label=\"Matt\">We\u2019re selling primarily me exclusively right now but overtime will be primarily selling donated items which have.<\/span><br \/><span title=\"44:02 - 44:06\" data-start=\"00:44:01.654\" data-end=\"00:44:06.269\" data-spk=\"2\" data-label=\"Matt\">Is this not a zero cost of goods but it\u2019s a near zero cost of goods.<\/span><br \/><span title=\"44:07 - 44:14\" data-start=\"00:44:06.708\" data-end=\"00:44:14.032\" data-spk=\"2\" data-label=\"Matt\">So we have room in the margin line to play with value-added services on each item,<\/span><br \/><span title=\"44:14 - 44:24\" data-start=\"00:44:14.435\" data-end=\"00:44:24.332\" data-spk=\"2\" data-label=\"Matt\">if we feel like there\u2019s a lift that we can justify with that you know with respect to photography with respect to.<\/span><br \/><span title=\"44:25 - 44:33\" data-start=\"00:44:24.897\" data-end=\"00:44:32.769\" data-spk=\"2\" data-label=\"Matt\">Metadata on each of the items with respect to Howard thinking about tagging,<\/span><br \/><span title=\"44:33 - 44:41\" data-start=\"00:44:33.154\" data-end=\"00:44:41.145\" data-spk=\"2\" data-label=\"Matt\">there\u2019s a lot there\u2019s a lot of players out there that we\u2019re evaluating right now and we watched with.<\/span><\/p>\n<p><small>[44:42]<\/small>\u00a0<span title=\"44:42 - 44:47\" data-start=\"00:44:42.047\" data-end=\"00:44:47.455\" data-spk=\"2\" data-label=\"Matt\">Over 100,000 unique items back in the first week of October.<\/span><br \/><span title=\"44:48 - 44:53\" data-start=\"00:44:48.038\" data-end=\"00:44:52.562\" data-spk=\"2\" data-label=\"Matt\">Mid-December we were at nearly 200,000 items.<\/span><br \/><span title=\"44:53 - 45:01\" data-start=\"00:44:53.128\" data-end=\"00:45:00.999\" data-spk=\"2\" data-label=\"Matt\">And our roadmap is to have a million unique items in our active.<\/span><br \/><span title=\"45:02 - 45:08\" data-start=\"00:45:01.534\" data-end=\"00:45:07.892\" data-spk=\"2\" data-label=\"Matt\">Catalog by October of this year so this entire endeavor.<\/span><br \/><span title=\"45:08 - 45:13\" data-start=\"00:45:08.469\" data-end=\"00:45:12.507\" data-spk=\"2\" data-label=\"Matt\">Has been from the start designed for scale.<\/span><br \/><span title=\"45:13 - 45:23\" data-start=\"00:45:13.204\" data-end=\"00:45:22.932\" data-spk=\"2\" data-label=\"Matt\">So we feel like that\u2019s giving us an advantage because we\u2019re able to do some things that,<\/span><br \/><span title=\"45:23 - 45:36\" data-start=\"00:45:23.161\" data-end=\"00:45:36.399\" data-spk=\"2\" data-label=\"Matt\">other startups that are venture-backed that are having to start from scratch with a lot of that infrastructure that have a cost of sourcing and and Supply acquisition that we don\u2019t,<\/span><br \/><span title=\"45:37 - 45:43\" data-start=\"00:45:36.700\" data-end=\"00:45:42.828\" data-spk=\"2\" data-label=\"Matt\">it would be financially prohibitive for them to make some of the Investments that we\u2019re making right now.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[45:43]<\/small>\u00a0<span title=\"45:43 - 45:53\" data-start=\"00:45:43.436\" data-end=\"00:45:52.701\" data-spk=\"1\" data-label=\"Scot\">Yeah it\u2019s interesting to hear you say you\u2019re using some of the AI Jason\u2019s not a believer in AI but I\u2019m a big proponent.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[45:50]<\/small>\u00a0<span title=\"45:50 - 45:57\" data-start=\"00:45:49.763\" data-end=\"00:45:57.178\" data-spk=\"0\" data-label=\"Jason\">Haha I haven\u2019t said a word on this whole podcast I\u2019ve just been using my AI Avatar.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[45:57]<\/small>\u00a0<span title=\"45:57 - 45:58\" data-start=\"00:45:56.878\" data-end=\"00:45:58.055\" data-spk=\"1\" data-label=\"Scot\">Ugh.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[45:58]<\/small>\u00a0<span title=\"45:58 - 46:03\" data-start=\"00:45:58.338\" data-end=\"00:46:03.475\" data-spk=\"2\" data-label=\"Matt\">For the record this isn\u2019t Matt talking this is Matt\u2019s chat TPT talking.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[46:04]<\/small>\u00a0<span title=\"46:04 - 46:11\" data-start=\"00:46:04.071\" data-end=\"00:46:10.969\" data-spk=\"0\" data-label=\"Jason\">Yeah we tested both in the shed she\u2019d Beatty was much more Salient so we went with that.<\/span><\/p>\n<p><small>[46:17]<\/small>\u00a0<span title=\"46:17 - 46:20\" data-start=\"00:46:17.026\" data-end=\"00:46:20.331\" data-spk=\"0\" data-label=\"Jason\">Yeah so it\u2019s interesting to me mad because,<\/span><br \/><span title=\"46:20 - 46:33\" data-start=\"00:46:20.355\" data-end=\"00:46:33.094\" data-spk=\"0\" data-label=\"Jason\">you mentioned a lot of the early Pioneers in our e-commerce and by the way just from buzzword Bingo like are you re Commerce person or you like do you have a favorite label for what you\u2019re doing now.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[46:34]<\/small>\u00a0<span title=\"46:34 - 46:35\" data-start=\"00:46:33.605\" data-end=\"00:46:34.729\" data-spk=\"2\" data-label=\"Matt\">Yeah I\u2019m.<\/span><br \/><span title=\"46:36 - 46:49\" data-start=\"00:46:35.769\" data-end=\"00:46:49.409\" data-spk=\"2\" data-label=\"Matt\">I\u2019m back in the the interview circuit right now trying to get the word out about what we\u2019re doing and promoting the Goodwill Mission so I\u2019m still trying some phrases on I mean yeah RI Commerce is definitely.<\/span><\/p>\n<p><small>[46:50]<\/small>\u00a0<span title=\"46:50 - 46:51\" data-start=\"00:46:50.004\" data-end=\"00:46:50.779\" data-spk=\"2\" data-label=\"Matt\">What.<\/span><br \/><span title=\"46:51 - 47:01\" data-start=\"00:46:51.236\" data-end=\"00:47:00.994\" data-spk=\"2\" data-label=\"Matt\">The buzzword but I think what we\u2019re doing at goodwillfinds and and in partnership with the Goodwill network is really about circularity you know in my mind\u2019s eye.<\/span><br \/><span title=\"47:02 - 47:06\" data-start=\"00:47:01.524\" data-end=\"00:47:05.802\" data-spk=\"2\" data-label=\"Matt\">Getting a Marketplace standing up a new Marketplace from the zero.<\/span><br \/><span title=\"47:06 - 47:21\" data-start=\"00:47:06.301\" data-end=\"00:47:21.017\" data-spk=\"2\" data-label=\"Matt\">You know it\u2019s the old Beezus flywheel the back of the napkin that I think about every day and in my version of it their supply demand admission and without the mission we don\u2019t get supply.<\/span><br \/><span title=\"47:21 - 47:31\" data-start=\"00:47:21.462\" data-end=\"00:47:31.112\" data-spk=\"2\" data-label=\"Matt\">And the better job we do partnering with our members sellers in acquiring the right Supply and and listing it.<\/span><br \/><span title=\"47:32 - 47:33\" data-start=\"00:47:31.569\" data-end=\"00:47:33.269\" data-spk=\"2\" data-label=\"Matt\">In a high-quality way,<\/span><br \/><span title=\"47:34 - 47:47\" data-start=\"00:47:33.666\" data-end=\"00:47:46.904\" data-spk=\"2\" data-label=\"Matt\">you know then that allows us to be able to meet demand in the market which the proceeds from those sales go right back to the Goodwill where we got the donation and there\u2019s the kind of the flywheels complete,<\/span><br \/><span title=\"47:47 - 47:51\" data-start=\"00:47:47.253\" data-end=\"00:47:51.308\" data-spk=\"2\" data-label=\"Matt\">and one of the stories around that and this is what we have to do a better job.<\/span><\/p>\n<p><small>[47:52]<\/small>\u00a0<span title=\"47:52 - 47:59\" data-start=\"00:47:51.886\" data-end=\"00:47:59.264\" data-spk=\"2\" data-label=\"Matt\">This year versus last year\u2019s to get these stories these amazing stories about the Goodwill Network out into the world,<\/span><br \/><span title=\"48:00 - 48:07\" data-start=\"00:47:59.565\" data-end=\"00:48:07.172\" data-spk=\"2\" data-label=\"Matt\">the more successful we are Google finds meaning the more that we\u2019re able to sell and scale demand.<\/span><br \/><span title=\"48:08 - 48:13\" data-start=\"00:48:07.659\" data-end=\"00:48:12.701\" data-spk=\"2\" data-label=\"Matt\">The more people each of the Goodwill sellers have to hire in their e-commerce operations.<\/span><br \/><span title=\"48:13 - 48:22\" data-start=\"00:48:13.182\" data-end=\"00:48:22.255\" data-spk=\"2\" data-label=\"Matt\">Because they\u2019re doing the listings they\u2019re doing the pick pack and ship on the on the outbound but those jobs are higher skill and they and they pay better.<\/span><br \/><span title=\"48:23 - 48:26\" data-start=\"00:48:22.778\" data-end=\"00:48:26.437\" data-spk=\"2\" data-label=\"Matt\">And so it actually accelerates the local mission.<\/span><\/p>\n<p><small>[48:27]<\/small>\u00a0<span title=\"48:27 - 48:40\" data-start=\"00:48:27.033\" data-end=\"00:48:39.615\" data-spk=\"2\" data-label=\"Matt\">The more successful we are because they have to hire more people and bring more people and train them into these higher value jobs that then they go get placed somewhere else they can go work within.<\/span><br \/><span title=\"48:40 - 48:52\" data-start=\"00:48:40.144\" data-end=\"00:48:52.084\" data-spk=\"2\" data-label=\"Matt\">The digital economy you know the digital retail industry and so we really I really think about what we\u2019re doing as pioneering circularity.<\/span><br \/><span title=\"48:52 - 49:06\" data-start=\"00:48:52.499\" data-end=\"00:49:05.995\" data-spk=\"2\" data-label=\"Matt\">We also are talking to some retailers and Brands you want to partner with us on they\u2019re both on the demand and supply side and part of it is because we\u2019re a nonprofit that there\u2019s a tax,<\/span><br \/><span title=\"49:06 - 49:11\" data-start=\"00:49:06.320\" data-end=\"00:49:11.253\" data-spk=\"2\" data-label=\"Matt\">right up Advantage for them but it\u2019s there\u2019s also this,<\/span><br \/><span title=\"49:12 - 49:18\" data-start=\"00:49:11.548\" data-end=\"00:49:17.653\" data-spk=\"2\" data-label=\"Matt\">PSG component to the large corporates that they have to think about especially in,<\/span><br \/><span title=\"49:18 - 49:26\" data-start=\"00:49:18.056\" data-end=\"00:49:25.951\" data-spk=\"2\" data-label=\"Matt\">in apparel where they had to think about you know what is their end to end environmental impact and.<\/span><\/p>\n<p><small>[49:27]<\/small>\u00a0<span title=\"49:27 - 49:41\" data-start=\"00:49:26.601\" data-end=\"00:49:40.553\" data-spk=\"2\" data-label=\"Matt\">It\u2019s it\u2019s really I can\u2019t believe the timing of this but it\u2019s really a moment right now not just with consumers but in the industry and so that\u2019s another aspect of circularity where you have.<\/span><br \/><span title=\"49:41 - 49:51\" data-start=\"00:49:41.161\" data-end=\"00:49:50.895\" data-spk=\"2\" data-label=\"Matt\">Yeah it\u2019s not Nike so but I\u2019ll just use them as an example to speak of Austria of Lee imagine Nike telling their full price customers.<\/span><br \/><span title=\"49:51 - 49:55\" data-start=\"00:49:51.400\" data-end=\"00:49:54.813\" data-spk=\"2\" data-label=\"Matt\">That they can buy second-hand Nike at goodwillfinds.com.<\/span><br \/><span title=\"49:55 - 50:03\" data-start=\"00:49:55.372\" data-end=\"00:50:02.829\" data-spk=\"2\" data-label=\"Matt\">Or imagine a Chanel it\u2019s not Chanel so I\u2019ll just use them electrically but imagine them.<\/span><\/p>\n<p><small>[50:04]<\/small>\u00a0<span title=\"50:04 - 50:13\" data-start=\"00:50:03.719\" data-end=\"00:50:13.435\" data-spk=\"2\" data-label=\"Matt\">Wanting to use us as their authentication partner so that when you find second-hand should now at goodwillfinds.com versus a real real or somewhere else,<\/span><br \/><span title=\"50:14 - 50:21\" data-start=\"00:50:13.808\" data-end=\"00:50:21.283\" data-spk=\"2\" data-label=\"Matt\">you can you can you know that you have this objective third-party authenticator that you can partner with to control,<\/span><br \/><span title=\"50:22 - 50:27\" data-start=\"00:50:21.584\" data-end=\"00:50:26.619\" data-spk=\"2\" data-label=\"Matt\">the the brand experience in the second hand market so it\u2019s,<\/span><br \/><span title=\"50:27 - 50:37\" data-start=\"00:50:26.835\" data-end=\"00:50:36.792\" data-spk=\"2\" data-label=\"Matt\">I\u2019m really excited about the possibilities and and we have a really big vision for what we\u2019re doing I don\u2019t I think we Commerce to me feels,<\/span><br \/><span title=\"50:37 - 50:40\" data-start=\"00:50:37.027\" data-end=\"00:50:40.319\" data-spk=\"2\" data-label=\"Matt\">like a term that soap a little bit Limited.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[50:41]<\/small>\u00a0<span title=\"50:41 - 50:46\" data-start=\"00:50:40.897\" data-end=\"00:50:45.697\" data-spk=\"0\" data-label=\"Jason\">Totally fair so maybe circular Commerce its,<\/span><br \/><span title=\"50:46 - 50:52\" data-start=\"00:50:45.776\" data-end=\"00:50:52.037\" data-spk=\"0\" data-label=\"Jason\">it\u2019s interesting to me though like so we\u2019ve had a bunch of those Founders from the circular Commerce.<\/span><br \/><span title=\"50:52 - 51:01\" data-start=\"00:50:52.476\" data-end=\"00:51:00.582\" data-spk=\"0\" data-label=\"Jason\">Brands on and like their fundamental problem is not your fundamental like their biggest problem is sourcing,<\/span><br \/><span title=\"51:01 - 51:07\" data-start=\"00:51:00.787\" data-end=\"00:51:06.591\" data-spk=\"0\" data-label=\"Jason\">the goods by getting people to send them stuff and then when they curate it they\u2019re mostly interested in,<\/span><br \/><span title=\"51:07 - 51:12\" data-start=\"00:51:06.670\" data-end=\"00:51:12.149\" data-spk=\"0\" data-label=\"Jason\">luxury designer so they end up with a relatively poor yield and they don\u2019t have.<\/span><\/p>\n<p><small>[51:13]<\/small>\u00a0<span title=\"51:13 - 51:20\" data-start=\"00:51:12.769\" data-end=\"00:51:20.051\" data-spk=\"0\" data-label=\"Jason\">Any monetization or you know frankly like a ecologically redeeming way to deal with,<\/span><br \/><span title=\"51:20 - 51:30\" data-start=\"00:51:20.130\" data-end=\"00:51:29.696\" data-spk=\"0\" data-label=\"Jason\">all the goods they get that aren\u2019t they don\u2019t meet their criteria so it\u2019s like you you seem like they\u2019re like through the Goodwill Network you\u2019ve got all these stores to put Goods in<\/span><br \/><span title=\"51:30 - 51:35\" data-start=\"00:51:29.516\" data-end=\"00:51:34.605\" data-spk=\"0\" data-label=\"Jason\">you\u2019ve got a bunch of you do have luxury consumers that are searching for<\/span><br \/><span title=\"51:34 - 51:42\" data-start=\"00:51:34.413\" data-end=\"00:51:42.315\" data-spk=\"0\" data-label=\"Jason\">vintage and value but you also have more pure value consumers you it just seems like it\u2019s a really interesting fit because you saw some of the,<\/span><br \/><span title=\"51:42 - 51:48\" data-start=\"00:51:42.388\" data-end=\"00:51:48.144\" data-spk=\"0\" data-label=\"Jason\">problems that are endemic to the re Commerce guys you\u2019ve got the first gen,<\/span><br \/><span title=\"51:48 - 52:02\" data-start=\"00:51:48.306\" data-end=\"00:52:01.760\" data-spk=\"0\" data-label=\"Jason\">Val you guys like the you know the fast fashion guys who are you know of course making stuff cheap but it\u2019s a psychological disaster and they only sell like half of it and the other half ends up in a landfill and all that and then you\u2019ve got the,<\/span><br \/><span title=\"52:02 - 52:08\" data-start=\"00:52:01.869\" data-end=\"00:52:07.956\" data-spk=\"0\" data-label=\"Jason\">discount guys who I think is the funniest of all I don\u2019t know if you follow this but Burlington Coat Factory,<\/span><br \/><span title=\"52:08 - 52:17\" data-start=\"00:52:08.070\" data-end=\"00:52:17.132\" data-spk=\"0\" data-label=\"Jason\">right before the pandemic shut down their e-commerce and they shut it down because they fundamentally couldn\u2019t solve what you\u2019re doing like they couldn\u2019t figure out how to cost effectively make,<\/span><br \/><span title=\"52:17 - 52:25\" data-start=\"00:52:17.360\" data-end=\"00:52:24.811\" data-spk=\"0\" data-label=\"Jason\">product detail pages for all the super thin inventory that they had and so it just interesting like,<\/span><br \/><span title=\"52:25 - 52:37\" data-start=\"00:52:24.908\" data-end=\"00:52:36.751\" data-spk=\"0\" data-label=\"Jason\">because you built this business on top of the Google Network it feels like you got a nice sort of Head Start in the in all three corners of that problem if you will.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[52:36]<\/small>\u00a0<span title=\"52:36 - 52:46\" data-start=\"00:52:36.451\" data-end=\"00:52:45.873\" data-spk=\"2\" data-label=\"Matt\">Yeah Jason so first off I know a lot of the players the founders execs at those other places and,<\/span><br \/><span title=\"52:46 - 52:59\" data-start=\"00:52:46.114\" data-end=\"00:52:59.015\" data-spk=\"2\" data-label=\"Matt\">again I want them all to be successful because the more successful the category is it\u2019s a tide that will lift all boats and I think we\u2019re all being led by the consumer who is voting yes yes yes,<\/span><br \/><span title=\"52:59 - 53:02\" data-start=\"00:52:59.322\" data-end=\"00:53:02.001\" data-spk=\"2\" data-label=\"Matt\">I also think that the consumer,<\/span><br \/><span title=\"53:02 - 53:12\" data-start=\"00:53:02.302\" data-end=\"00:53:12.000\" data-spk=\"2\" data-label=\"Matt\">um is not just the the deal Seeker the value Seeker but it really is a trend ribbon,<\/span><br \/><span title=\"53:12 - 53:18\" data-start=\"00:53:12.307\" data-end=\"00:53:18.196\" data-spk=\"2\" data-label=\"Matt\">style driven younger consumer who if you think about you know the.<\/span><\/p>\n<p><small>[53:19]<\/small>\u00a0<span title=\"53:19 - 53:28\" data-start=\"00:53:18.743\" data-end=\"00:53:28.057\" data-spk=\"2\" data-label=\"Matt\">Tick Tock and Instagram and this this viral social world that we live in where you nobody wants to look the same,<\/span><br \/><span title=\"53:28 - 53:36\" data-start=\"00:53:28.303\" data-end=\"00:53:36.433\" data-spk=\"2\" data-label=\"Matt\">wearing the same things that shopping vintage and second-hand is actually a way to differentiate yourself and show your,<\/span><br \/><span title=\"53:37 - 53:47\" data-start=\"00:53:36.794\" data-end=\"00:53:46.558\" data-spk=\"2\" data-label=\"Matt\">your individual style so it\u2019s there\u2019s a really interesting marriage there between second hand and kind of social morality,<\/span><br \/><span title=\"53:47 - 54:01\" data-start=\"00:53:46.781\" data-end=\"00:54:00.788\" data-spk=\"2\" data-label=\"Matt\">and what\u2019s happening there and then there\u2019s also a tell you a more affluent customer or aspirational customer who could Shop full price and does Shop full price but they really care about,<\/span><br \/><span title=\"54:01 - 54:06\" data-start=\"00:54:00.963\" data-end=\"00:54:06.256\" data-spk=\"2\" data-label=\"Matt\">about the impact in the narrative and they want to talk about the story,<\/span><br \/><span title=\"54:07 - 54:14\" data-start=\"00:54:06.509\" data-end=\"00:54:14.044\" data-spk=\"2\" data-label=\"Matt\">where they bought it not just what they bought and so there\u2019s it feels like there\u2019s this really.<\/span><\/p>\n<p><small>[54:15]<\/small>\u00a0<span title=\"54:15 - 54:24\" data-start=\"00:54:14.687\" data-end=\"00:54:23.737\" data-spk=\"2\" data-label=\"Matt\">Great timing of all three customer segments and then the last thing I tell you is compared to the Discounters.<\/span><br \/><span title=\"54:24 - 54:29\" data-start=\"00:54:24.362\" data-end=\"00:54:28.790\" data-spk=\"2\" data-label=\"Matt\">Do I have read about some of them struggling,<\/span><br \/><span title=\"54:29 - 54:39\" data-start=\"00:54:29.175\" data-end=\"00:54:39.282\" data-spk=\"2\" data-label=\"Matt\">with figuring out e-commerce and I think I\u2019ve read the rational rationalization was that it\u2019s hard to do Discovery online versus in the store.<\/span><br \/><span title=\"54:40 - 54:47\" data-start=\"00:54:39.859\" data-end=\"00:54:47.142\" data-spk=\"2\" data-label=\"Matt\">What I would tell you is that what we\u2019re doing augments the in-store thrifting experience at goodwillfinds,<\/span><br \/><span title=\"54:48 - 54:53\" data-start=\"00:54:47.503\" data-end=\"00:54:52.766\" data-spk=\"2\" data-label=\"Matt\">now if you\u2019re shopping Goodwill at your local store.<\/span><br \/><span title=\"54:54 - 55:03\" data-start=\"00:54:53.849\" data-end=\"00:55:02.784\" data-spk=\"2\" data-label=\"Matt\">The assortment is very limited it\u2019s what just showed up that week or that month as far as donations go but,<\/span><br \/><span title=\"55:03 - 55:13\" data-start=\"00:55:03.163\" data-end=\"00:55:13.023\" data-spk=\"2\" data-label=\"Matt\">you can do that because there are certain categories of people like to touch and feel or try on because fit matters or Texture and finish and,<\/span><br \/><span title=\"55:13 - 55:28\" data-start=\"00:55:13.354\" data-end=\"00:55:27.667\" data-spk=\"2\" data-label=\"Matt\">and material matter you know how home goods and furniture and the like one of those big bulky items that you know are easier to buy and store but to be able to couple that with.<\/span><\/p>\n<p><small>[55:29]<\/small>\u00a0<span title=\"55:29 - 55:37\" data-start=\"00:55:28.941\" data-end=\"00:55:36.633\" data-spk=\"2\" data-label=\"Matt\">Now shopping you know I don\u2019t want to say the best but the that e-commerce.<\/span><br \/><span title=\"55:37 - 55:42\" data-start=\"00:55:37.096\" data-end=\"00:55:41.812\" data-spk=\"2\" data-label=\"Matt\">Assortment of other Goodwills across the country.<\/span><br \/><span title=\"55:42 - 55:49\" data-start=\"00:55:42.336\" data-end=\"00:55:48.537\" data-spk=\"2\" data-label=\"Matt\">We\u2019re now you\u2019re getting access to donations from New York to LA Seattle to Miami,<\/span><br \/><span title=\"55:49 - 56:03\" data-start=\"00:55:48.844\" data-end=\"00:56:02.544\" data-spk=\"2\" data-label=\"Matt\">Chicago to Austin and I mean wow like what a treasure Trove to be able to shop your Goodwill store and go online and get access to all these thrift stores in one place,<\/span><br \/><span title=\"56:03 - 56:07\" data-start=\"00:56:02.815\" data-end=\"00:56:06.810\" data-spk=\"2\" data-label=\"Matt\">in our case I think it\u2019s a massive value add and.<\/span><br \/><span title=\"56:07 - 56:22\" data-start=\"00:56:07.219\" data-end=\"00:56:22.127\" data-spk=\"2\" data-label=\"Matt\">Given the fact that the Goodwill brand has been around for 100 years and already has tens of millions of customers shopping their stores you know our primary focus to start is how do we,<\/span><br \/><span title=\"56:22 - 56:32\" data-start=\"00:56:22.494\" data-end=\"00:56:31.664\" data-spk=\"2\" data-label=\"Matt\">how do we complement the in-store shopping experience to those tens of millions of customers to convert them to be multi-channel customers with the brand,<\/span><br \/><span title=\"56:32 - 56:37\" data-start=\"00:56:32.073\" data-end=\"00:56:37.480\" data-spk=\"2\" data-label=\"Matt\">and at the same time how do we compete in the market too.<\/span><\/p>\n<p><small>[56:38]<\/small>\u00a0<span title=\"56:38 - 56:49\" data-start=\"00:56:38.364\" data-end=\"00:56:48.507\" data-spk=\"2\" data-label=\"Matt\">Solicit this this these other two audiences that I mentioned the style and Trend driven younger consumer that\u2019s looking for vintage that\u2019s looking for.<\/span><br \/><span title=\"56:49 - 57:03\" data-start=\"00:56:48.946\" data-end=\"00:57:02.701\" data-spk=\"2\" data-label=\"Matt\">For differentiated as well as this this aspirational and more affluent customer who loves the loves the purpose loves the mission loves the story of circularity and wants to participate.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[57:03]<\/small>\u00a0<span title=\"57:03 - 57:07\" data-start=\"00:57:03.314\" data-end=\"00:57:06.907\" data-spk=\"1\" data-label=\"Scot\">Cool sounds like your<\/span><br \/><span title=\"57:07 - 57:25\" data-start=\"00:57:06.691\" data-end=\"00:57:24.706\" data-spk=\"1\" data-label=\"Scot\">you\u2019re fired up and it\u2019s going to be exciting to watch the progress we\u2019re running up against time but while we have you you\u2019ve been that this over 15 years the whole e-commerce retail thing what are some of the other Trends you\u2019re watching other than this circular kind of recycling element anything<\/span><br \/><span title=\"57:25 - 57:34\" data-start=\"00:57:24.538\" data-end=\"00:57:33.990\" data-spk=\"1\" data-label=\"Scot\">anything interesting on your radar for example do you think the digitally native vertical brand thing has played out or is that still got legs any other trends that are interesting to you.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[57:36]<\/small>\u00a0<span title=\"57:36 - 57:42\" data-start=\"00:57:35.697\" data-end=\"00:57:41.994\" data-spk=\"2\" data-label=\"Matt\">Yeah well on DM BB which just a an iteration of DTC.<\/span><br \/><span title=\"57:42 - 57:47\" data-start=\"00:57:42.481\" data-end=\"00:57:46.687\" data-spk=\"2\" data-label=\"Matt\">Did you see to me was always a go to market strategy was never a business model.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[57:47]<\/small>\u00a0<span title=\"57:47 - 57:50\" data-start=\"00:57:46.615\" data-end=\"00:57:49.607\" data-spk=\"1\" data-label=\"Scot\">Yeah.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[57:49]<\/small>\u00a0<span title=\"57:49 - 57:58\" data-start=\"00:57:49.319\" data-end=\"00:57:58.248\" data-spk=\"2\" data-label=\"Matt\">The the early players the first movers in that space who did the,<\/span><br \/><span title=\"57:59 - 58:11\" data-start=\"00:57:58.555\" data-end=\"00:58:10.711\" data-spk=\"2\" data-label=\"Matt\">you know go to the source and sell an item at the wholesale price versus the retail price because you\u2019re cutting out the middleman Zappos is kind of one of the one of the pioneers of that,<\/span><br \/><span title=\"58:11 - 58:12\" data-start=\"00:58:11.048\" data-end=\"00:58:11.859\" data-spk=\"2\" data-label=\"Matt\">um<\/span><br \/><span title=\"58:12 - 58:24\" data-start=\"00:58:12.298\" data-end=\"00:58:24.111\" data-spk=\"2\" data-label=\"Matt\">That was a momentum thing I\u2019ve always viewed and again kind of sticking to my knitting here in this specialty premium you know Market space.<\/span><br \/><span title=\"58:25 - 58:27\" data-start=\"00:58:24.959\" data-end=\"00:58:26.966\" data-spk=\"2\" data-label=\"Matt\">I\u2019ve always viewed,<\/span><br \/><span title=\"58:27 - 58:36\" data-start=\"00:58:27.309\" data-end=\"00:58:36.202\" data-spk=\"2\" data-label=\"Matt\">yeah the brand equity which is what we\u2019re all striving to create and grow and maintain.<\/span><br \/><span title=\"58:37 - 58:43\" data-start=\"00:58:36.629\" data-end=\"00:58:42.998\" data-spk=\"2\" data-label=\"Matt\">It gets generated by picking an attractive customer,<\/span><br \/><span title=\"58:43 - 58:55\" data-start=\"00:58:43.407\" data-end=\"00:58:55.268\" data-spk=\"2\" data-label=\"Matt\">that you want to obsess about and I don\u2019t and attractive I mean somebody that you think is a viable there\u2019s enough of them and they\u2019re viable to have a long-term relationship with.<\/span><\/p>\n<p><small>[58:56]<\/small>\u00a0<span title=\"58:56 - 59:05\" data-start=\"00:58:55.690\" data-end=\"00:59:04.540\" data-spk=\"2\" data-label=\"Matt\">And obsessing about them to the point where you understand their needs better than they and you can create differentiated product and service,<\/span><br \/><span title=\"59:05 - 59:06\" data-start=\"00:59:04.865\" data-end=\"00:59:05.880\" data-spk=\"2\" data-label=\"Matt\">where,<\/span><br \/><span title=\"59:06 - 59:16\" data-start=\"00:59:06.193\" data-end=\"00:59:16.144\" data-spk=\"2\" data-label=\"Matt\">they fall in love with your Solutions with your customer experience and they want to tell their friends and then you couple that with the right distribution,<\/span><br \/><span title=\"59:16 - 59:26\" data-start=\"00:59:16.301\" data-end=\"00:59:25.734\" data-spk=\"2\" data-label=\"Matt\">so that you can find more people like them which allows you to scale in an efficient manner and direct-to-consumer now going back 15 years,<\/span><br \/><span title=\"59:26 - 59:39\" data-start=\"00:59:26.017\" data-end=\"00:59:39.093\" data-spk=\"2\" data-label=\"Matt\">was just the new go to market to find more like-minded customers to ones that you already had so urban urban already had amazingly strong brands with a lot of brand equity,<\/span><br \/><span title=\"59:39 - 59:47\" data-start=\"00:59:39.243\" data-end=\"00:59:46.526\" data-spk=\"2\" data-label=\"Matt\">so what we did writing the Web 2.0 wave was really just figuring out you know how do we,<\/span><br \/><span title=\"59:47 - 59:57\" data-start=\"00:59:46.821\" data-end=\"00:59:57.072\" data-spk=\"2\" data-label=\"Matt\">how do we reach the same or similar customers and give them a better experience a different experience online than what they experience in store,<\/span><br \/><span title=\"59:57 - 1:00:07\" data-start=\"00:59:57.234\" data-end=\"01:00:06.788\" data-spk=\"2\" data-label=\"Matt\">and then Mark what was the opposite I got there and we had no physical experience and so the exercise was how do we take this brand love that exists.<\/span><\/p>\n<p><small>[1:00:07]<\/small>\u00a0<span title=\"1:00:07 - 1:00:13\" data-start=\"01:00:07.119\" data-end=\"01:00:13.464\" data-spk=\"2\" data-label=\"Matt\">At this website and and translate it into a three-dimensional experience that,<\/span><br \/><span title=\"1:00:14 - 1:00:27\" data-start=\"01:00:13.639\" data-end=\"01:00:26.739\" data-spk=\"2\" data-label=\"Matt\">the existing customers would love but would allow us to expand our market and introduce the brand and more people so I yeah so I don\u2019t I never saw DM BB by itself as a sustainable business model.<\/span><\/p>\n<p><small>[1:00:27]<\/small>\u00a0<span title=\"1:00:27 - 1:00:36\" data-start=\"01:00:27.082\" data-end=\"01:00:36.173\" data-spk=\"2\" data-label=\"Matt\">As far as other Trends in the market today I when I left Walmart I did a talk.<\/span><\/p>\n<p><small>[1:00:37]<\/small>\u00a0<span title=\"1:00:37 - 1:00:41\" data-start=\"01:00:36.618\" data-end=\"01:00:41.347\" data-spk=\"2\" data-label=\"Matt\">Where I said I felt like it was an amazing time,<\/span><br \/><span title=\"1:00:42 - 1:00:54\" data-start=\"01:00:41.738\" data-end=\"01:00:53.839\" data-spk=\"2\" data-label=\"Matt\">to start a brand and I really meant it and I really believe that the market was was so like there\u2019s so much sameness in the market that.<\/span><br \/><span title=\"1:00:55 - 1:01:08\" data-start=\"01:00:54.501\" data-end=\"01:01:07.847\" data-spk=\"2\" data-label=\"Matt\">That there\u2019s a huge opportunity for four new brands coming to the market Leverage The technologies that have matured and and really differentiate against the incumbents I tell you sitting here right now after.<\/span><br \/><span title=\"1:01:09 - 1:01:11\" data-start=\"01:01:08.592\" data-end=\"01:01:11.428\" data-spk=\"2\" data-label=\"Matt\">I feel like consumers.<\/span><\/p>\n<p><small>[1:01:12]<\/small>\u00a0<span title=\"1:01:12 - 1:01:19\" data-start=\"01:01:12.426\" data-end=\"01:01:18.963\" data-spk=\"2\" data-label=\"Matt\">Have now accepted the fact that their multi-line store is where they shop for everything.<\/span><br \/><span title=\"1:01:19 - 1:01:28\" data-start=\"01:01:19.493\" data-end=\"01:01:28.175\" data-spk=\"2\" data-label=\"Matt\">The whole idea of this retailers essential and that one\u2019s not and those shutdowns for a year plus I think really changed consumer.<\/span><br \/><span title=\"1:01:29 - 1:01:35\" data-start=\"01:01:28.620\" data-end=\"01:01:35.152\" data-spk=\"2\" data-label=\"Matt\">Perception of where\u2019s viable to shop the where it\u2019s not and I and so I think the bigger players,<\/span><br \/><span title=\"1:01:35 - 1:01:46\" data-start=\"01:01:35.357\" data-end=\"01:01:46.407\" data-spk=\"2\" data-label=\"Matt\">have a massive advantage in this market especially this year with inflation continuing going into a recession I think it\u2019s I think this year is going to be really hard,<\/span><br \/><span title=\"1:01:47 - 1:01:53\" data-start=\"01:01:46.654\" data-end=\"01:01:53.293\" data-spk=\"2\" data-label=\"Matt\">for smaller players to differentiate and survive so that\u2019s more from a consumer lens.<\/span><br \/><span title=\"1:01:54 - 1:01:58\" data-start=\"01:01:53.702\" data-end=\"01:01:58.497\" data-spk=\"2\" data-label=\"Matt\">From a technology lens I\u2019m sorry to say Jason but I\u2019m a big believer in AI,<\/span><br \/><span title=\"1:01:59 - 1:02:09\" data-start=\"01:01:58.846\" data-end=\"01:02:09.428\" data-spk=\"2\" data-label=\"Matt\">and I think it\u2019s early days and what I counseled a lot of folks who are earlier in their career is find a mega technology trend,<\/span><br \/><span title=\"1:02:10 - 1:02:17\" data-start=\"01:02:09.740\" data-end=\"01:02:16.500\" data-spk=\"2\" data-label=\"Matt\">in the market that you can get passionate about learning that you think is early Innings and ride it.<\/span><\/p>\n<p><small>[1:02:17]<\/small>\u00a0<span title=\"1:02:17 - 1:02:20\" data-start=\"01:02:16.945\" data-end=\"01:02:20.382\" data-spk=\"2\" data-label=\"Matt\">I certainly did that with e-commerce I was.<\/span><br \/><span title=\"1:02:21 - 1:02:25\" data-start=\"01:02:20.827\" data-end=\"01:02:25.129\" data-spk=\"2\" data-label=\"Matt\">They\u2019re early with the that whole Social Mobile Local,<\/span><br \/><span title=\"1:02:25 - 1:02:31\" data-start=\"01:02:25.496\" data-end=\"01:02:30.976\" data-spk=\"2\" data-label=\"Matt\">moment you know that was existing after the iPhone and Facebook launched,<\/span><br \/><span title=\"1:02:31 - 1:02:45\" data-start=\"01:02:31.385\" data-end=\"01:02:45.386\" data-spk=\"2\" data-label=\"Matt\">I\u2019m I feel like marketplaces are like halfway up the s-curve I feel like there\u2019s still a lot more room to grow and so I\u2019m working on that technology curve right now with goodwillfinds.<\/span><br \/><span title=\"1:02:46 - 1:02:54\" data-start=\"01:02:45.813\" data-end=\"01:02:54.201\" data-spk=\"2\" data-label=\"Matt\">But I would say that I don\u2019t I\u2019m not a Believer it in web 3.0 today it feels like,<\/span><br \/><span title=\"1:02:55 - 1:02:59\" data-start=\"01:02:54.562\" data-end=\"01:02:58.792\" data-spk=\"2\" data-label=\"Matt\">the.com in the late 90s where it was five years too early,<\/span><br \/><span title=\"1:02:59 - 1:03:12\" data-start=\"01:02:59.075\" data-end=\"01:03:12.150\" data-spk=\"2\" data-label=\"Matt\">there just weren\u2019t enough participants to make it viable I think web 3.0 in whatever form it takes is five years out before becomes something that you could commercially work on.<\/span><br \/><span title=\"1:03:13 - 1:03:20\" data-start=\"01:03:12.740\" data-end=\"01:03:19.764\" data-spk=\"2\" data-label=\"Matt\">And then you know I\u2019d say I think the subscription in.<\/span><br \/><span title=\"1:03:20 - 1:03:27\" data-start=\"01:03:20.245\" data-end=\"01:03:26.945\" data-spk=\"2\" data-label=\"Matt\">In a lot of categories is having a lot of success right now which is less about technology and more about,<\/span><br \/><span title=\"1:03:27 - 1:03:39\" data-start=\"01:03:27.342\" data-end=\"01:03:39.047\" data-spk=\"2\" data-label=\"Matt\">business model but that\u2019s that\u2019s that\u2019s an area as well that I think is worth exploring for a lot of businesses that are trying to figure out ways to monetize Their audience.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[1:03:40]<\/small>\u00a0<span title=\"1:03:40 - 1:03:43\" data-start=\"01:03:40.111\" data-end=\"01:03:42.754\" data-spk=\"0\" data-label=\"Jason\">Matt that is awesome,<\/span><br \/><span title=\"1:03:43 - 1:03:51\" data-start=\"01:03:42.779\" data-end=\"01:03:50.801\" data-spk=\"0\" data-label=\"Jason\">basically we\u2019re mostly aligned I\u2019m 100% with you on a I I\u2019m also with you on web 3 \/ metaverse<\/span><br \/><span title=\"1:03:51 - 1:04:00\" data-start=\"01:03:50.687\" data-end=\"01:03:59.700\" data-spk=\"0\" data-label=\"Jason\">being too early the one thing I\u2019m gonna just for the record disagree on is I I can\u2019t public admit that marketplaces are thing because that\u2019ll<\/span><br \/><span title=\"1:04:00 - 1:04:02\" data-start=\"01:03:59.664\" data-end=\"01:04:02.068\" data-spk=\"0\" data-label=\"Jason\">that\u2019ll go to Scott said too much if we admit that.<\/span><br \/><span title=\"1:04:03 - 1:04:05\" data-start=\"01:04:02.711\" data-end=\"01:04:04.585\" data-spk=\"0\" data-label=\"Jason\">But,<\/span><br \/><span title=\"1:04:05 - 1:04:18\" data-start=\"01:04:04.646\" data-end=\"01:04:18.112\" data-spk=\"0\" data-label=\"Jason\">it\u2019s going to surprise no one mat that has happened again we\u2019ve used slightly more than our allotted time so we\u2019re gonna leave it with those words of wisdom from you as always if listeners found value from this show we sure would love it if you\u2019d<\/span><br \/><span title=\"1:04:18 - 1:04:22\" data-start=\"01:04:18.004\" data-end=\"01:04:21.573\" data-spk=\"0\" data-label=\"Jason\">jump on iTunes and leave us that five star review but Matt,<\/span><br \/><span title=\"1:04:22 - 1:04:32\" data-start=\"01:04:21.646\" data-end=\"01:04:31.818\" data-spk=\"0\" data-label=\"Jason\">so awesome to reconnecting and congrats on everything you\u2019re doing it\u2019s it\u2019s fun to watch and and put your point like it\u2019s also adding a heck of a lot of value to the world.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[1:04:33]<\/small>\u00a0<span title=\"1:04:33 - 1:04:44\" data-start=\"01:04:33.213\" data-end=\"01:04:43.590\" data-spk=\"2\" data-label=\"Matt\">Guys I really appreciate the time always great to reconnect congrats on the pot I\u2019m a huge fan and let\u2019s do it again at number five hundred.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[1:04:44]<\/small>\u00a0<span title=\"1:04:44 - 1:04:52\" data-start=\"01:04:44.300\" data-end=\"01:04:51.785\" data-spk=\"1\" data-label=\"Scot\">Sounds good Matt if folks want to find you online or you on the on MySpace where do you hang out.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[1:04:52]<\/small>\u00a0<span title=\"1:04:52 - 1:04:57\" data-start=\"01:04:51.703\" data-end=\"01:04:56.760\" data-spk=\"2\" data-label=\"Matt\">Yeah have you heard of Tumblr no.<\/span><br \/><span title=\"1:04:57 - 1:05:05\" data-start=\"01:04:57.287\" data-end=\"01:05:05.409\" data-spk=\"2\" data-label=\"Matt\">Um yeah I would just say if anybody needs to get ahold of me reach out through Linkedin and my contact information is there.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[1:05:06]<\/small>\u00a0<span title=\"1:05:06 - 1:05:11\" data-start=\"01:05:05.854\" data-end=\"01:05:11.058\" data-spk=\"1\" data-label=\"Scot\">Sounds good we really appreciate taking time and good luck with the new Venture sounds really exciting.<\/span><\/p>\n<p><b data-spk=\"2\">Matt:<\/b><br \/><small>[1:05:11]<\/small>\u00a0<span title=\"1:05:11 - 1:05:12\" data-start=\"01:05:11.226\" data-end=\"01:05:12.302\" data-spk=\"2\" data-label=\"Matt\">Thanks guys.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[1:05:12]<\/small>\u00a0<span title=\"1:05:12 - 1:05:16\" data-start=\"01:05:12.002\" data-end=\"01:05:16.166\" data-spk=\"0\" data-label=\"Jason\">And until next time happy commercing.<\/span><\/p>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A weekly podcast with the latest e-commerce news and events. Episode 300 is an interview with Matt Kaness, CEO of GoodwillFinds.com a new e-commerce initiative [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-8353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/8353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=8353"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/8353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/1121"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=8353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=8353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=8353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}