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1/ "You can name people who are richer than Rich Barton, but you can’t name very many people who have his track record. You will find very few people in this country who have as many times created something from nothing.” Nick Hanauer. A chapter on Barton: amazon.com/Lessons-Entrep…
2/ "User-generated content models are magic because the more reviews you have of hotels, for instance, the more it attracts users to the site. And the more users you have the more reviews you get. This is a very simple, elegant example of a positive feedback system." Rich Barton
3/ "We didn’t have much money so we couldn’t invest in advertising, but we knew the most important 'P' of the Marketing Mix 5 P’s is 'Product.' So, we built a highly provocative product (with the Zestimate), and married that to PR." Rich Barton. Low CAC is a wonderful thing.
4/ My tendency has been to focus on big vertical industry categories where there has historically been database information that’s been locked up behind walls by the industry. I want to empower users to access that info." This is Rich Barton’s “power to the people” thesis.
5/ Rich Barton: "I like verticals that involve real people, real decisions, and real money because it is easier to monetize." Convincing people to pay for things that they have traditionally received for free is a genuinely hard problem. Life is too short to do that.
6/ If Side A values the platform more if there are more customers on Side B, there are positive network effects which are an attractive way to create barriers to entry. If a marketplace-based flywheel is operating, the only limit to success is the size of the addressable market.
