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13. The Art of the Pivot with Andrew McConnell
Manage episode 407475358 series 3560891
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The Evolution and Future of Online MarketPlaces: A Conversation with Andrew McConnell
Andrew McConnell, serial entrepreneur with a background in consulting and a positive outlook on life, discusses his journey starting from law school, his shift to consulting and his ventures in the online marketplace sector, namely Vacation Futures, Rented.com and his yet to launch healthspan focused startup. Andrew pivoted several times, chasing potential growth and adjusting as per investor expectations. He talks extensively about the growth trajectories, challenges and pivots of global platforms like Airbnb and VRBO. Andrew contends that marketplaces must constantly evolve to maintain balance and compete in the ever-changing landscape. He also shares insights on new market trends enabled by Airbnb in creating travel demands around unique accommodations. Andrew concludes with his latest venture, aiming to make healthspan improvement a priority for people.
00:00 Introduction and Guest Background
00:32 Journey into Law and Consulting
02:36 Transition from Law to Business Consulting
05:16 Exploring the Vacation Rental Industry
07:19 Birth of Vacation Futures
09:48 Evolution into Rented Capital
13:33 Advent of Dynamic Pricing in Vacation Rentals
14:42 Acquisition by Travelnet and Future Prospects
16:17 Transitioning to a Software as a Service (SaaS) Platform
16:43 Targeting Professional Vacation Rental Managers
17:43 Understanding the Competition in the Vacation Rental Space
18:02 The Evolution and Growth of Vacation Rental Companies
19:01 The Fate of Vacation Futures and Rented.com
20:50 Launching a New Venture in the Healthspan Space
24:34 Understanding the Challenges of Continuous Growth in Business
25:31 The Pivots and Growth of Airbnb and VRBO
32:35 The Challenges and Dynamics of Building Marketplaces
32:41 Lightning Round: Personal Insights and Aspirations
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