5 minute summaries
1 quote, 3 ideas & 1 question from each episode
__________
30 Mar 2021
1hr 3mins
FEATURING
Owltail Summaries
1 quote, 3 ideas & 1 question from each episode
_________
Poshmark’s Tracy Sun on stitching e-commerce with social media
30 Mar 2021
1hr 3mins
Quote
"Community is the future of retail, Poshmark combines the human connection of a physical shop experience with the scale, reach, ease & selection benefits of E-commerce."
Ideas
1
Over time, commerce and shopping have trended from a strong human connection with those who grew or made what you were purchasing, to more ease, selection & convenience.
You see this from the shift of farmers markets to shopping malls, and then now online e-commerce stores. You get more variety, more efficiency, but you lose a lot of the human connection.
More recently, companies like Poshmark, but also industries such as independent journalism, is taking a step back from focusing only on efficiencies, and re-incoporating some of the human elements.
More recently, companies like Poshmark, but also industries such as independent journalism, is taking a step back from focusing only on efficiencies, and re-incoporating some of the human elements.
1
Over time, commerce and shopping have trended from a strong human connection with those who grew or made what you were purchasing, to more ease, selection & convenience.
You see this from the shift of farmers markets to shopping malls, and then now online e-commerce stores. You get more variety, more efficiency, but you lose a lot of the human connection.
More recently, companies like Poshmark, but also industries such as independent journalism, is taking a step back from focusing only on efficiencies, and re-incoporating some of the human elements.
More recently, companies like Poshmark, but also industries such as independent journalism, is taking a step back from focusing only on efficiencies, and re-incoporating some of the human elements.
2
With a lot of the rising content platforms such as TikTok, Instagram, etc we've entered into a time where content is easily created and accessible.
Previously, you had to be an influencer with millions of followers to become a creator and build a sustainable living.
Nowadays, the internet has allowed for world wide distribution and tools to focus on doing what you love; the creating part, and not worry about a lot of the administrative parts.
This has resulted in a larger potential audience with the ability to much more easily find your audience, as well as it being significantly easier to create; resulting in new opportunities for people in certain niches that didn't previously exist.
Nowadays, the internet has allowed for world wide distribution and tools to focus on doing what you love; the creating part, and not worry about a lot of the administrative parts.
This has resulted in a larger potential audience with the ability to much more easily find your audience, as well as it being significantly easier to create; resulting in new opportunities for people in certain niches that didn't previously exist.
2
With a lot of the rising content platforms such as TikTok, Instagram, etc we've entered into a time where content is easily created and accessible.
Previously, you had to be an influencer with millions of followers to become a creator and build a sustainable living.
Nowadays, the internet has allowed for world wide distribution and tools to focus on doing what you love; the creating part, and not worry about a lot of the administrative parts.
This has resulted in a larger potential audience with the ability to much more easily find your audience, as well as it being significantly easier to create; resulting in new opportunities for people in certain niches that didn't previously exist.
Nowadays, the internet has allowed for world wide distribution and tools to focus on doing what you love; the creating part, and not worry about a lot of the administrative parts.
This has resulted in a larger potential audience with the ability to much more easily find your audience, as well as it being significantly easier to create; resulting in new opportunities for people in certain niches that didn't previously exist.
3
As the business has shifted from a -up to a public company, Tracy initially thought that decision-making becomes more complex, but now believes that it's not that it's more complicated, but that the inputs for decision-making change.
In the early days, there's only a handful of people, so you assume that everybody has the same amount context, and the only goal is to find product market fit or the business dies, so the north is incredibly clear, and there's energy and adrenaline to getting there as fast as possible as a team.
Nowadays, because the company is much larger and there are much more stakeholders, there is a lot more deliberate thinking about who can help, based on the information or context they have, as well as what the urgency of certain problems are. Not all problems are urgent, and unlike the early days where the speed of your decision making was so important, certain decisions need to be done more slowly to ensure the best outcome.
Nowadays, because the company is much larger and there are much more stakeholders, there is a lot more deliberate thinking about who can help, based on the information or context they have, as well as what the urgency of certain problems are. Not all problems are urgent, and unlike the early days where the speed of your decision making was so important, certain decisions need to be done more slowly to ensure the best outcome.
3
As the business has shifted from a -up to a public company, Tracy initially thought that decision-making becomes more complex, but now believes that it's not that it's more complicated, but that the inputs for decision-making change.
In the early days, there's only a handful of people, so you assume that everybody has the same amount context, and the only goal is to find product market fit or the business dies, so the north is incredibly clear, and there's energy and adrenaline to getting there as fast as possible as a team.
Nowadays, because the company is much larger and there are much more stakeholders, there is a lot more deliberate thinking about who can help, based on the information or context they have, as well as what the urgency of certain problems are. Not all problems are urgent, and unlike the early days where the speed of your decision making was so important, certain decisions need to be done more slowly to ensure the best outcome.
Nowadays, because the company is much larger and there are much more stakeholders, there is a lot more deliberate thinking about who can help, based on the information or context they have, as well as what the urgency of certain problems are. Not all problems are urgent, and unlike the early days where the speed of your decision making was so important, certain decisions need to be done more slowly to ensure the best outcome.
Questions
1
Can you think of an industry or service where you preferred if there was more human connection in?
1
Can you think of an industry or service where you preferred if there was more human connection in?
What else is in the episode
1
How Poshmark is transforming e-commerce through communities
1
How Poshmark is transforming e-commerce through communities
2
How Poshmark has dealt with the problem of the rich get richer on their platform in terms of sellers
2
How Poshmark has dealt with the problem of the rich get richer on their platform in terms of sellers
3
What it's like going from founding Poshmark, all the way to running it after it's gone public
3
What it's like going from founding Poshmark, all the way to running it after it's gone public
Who is Tracy Sun?
1
Co-founder and vice-president of merchandising at Poshmark.
- Poshmark is one of largest peer-to-peer fashion resale platforms and has raised over $160m in funding.
1
Co-founder and vice-president of merchandising at Poshmark.
- Poshmark is one of largest peer-to-peer fashion resale platforms and has raised over $160m in funding.
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