Friday Fun(d): Depop + Airbnb Co-Founder
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What I Learned This Week
Depop
A few weeks ago, I was walking around a couple of local shops where I live. If you have followed fashion trends recently, it wasn't a big shock when one of the stores I walked into was a "vintage clothing" store. Thrifting isn't a new trend. In fact, Macklemore made sure everyone was aware it was the cool thing to do back in 2013. But what has always been a fun joke to get an outrageous thrift shirt has turned into a legitimate market for vintage buyers and sellers.
Depop is an eCommerce retailer that has specialized in providing a marketplace for vintage clothing. More simply, they are moving your local thrift shop online. And it's been a massive success. Etsy, an online marketplace that connects passion project buyers and sellers, purchased Depop for $1.65 billion earlier this summer in a mostly cash deal! Basically, a glorified platform for Goodwill is worth over $1 billion. Crazy.
So what does this mean?
Other than admitting your parents were actually cool, Gen Z might not be as complex as some belief. This is the first generation that has had smartphones in their hands since day one, so there will be some crafty developments from those with who smartphones are most ingrained. But, like something as simple as selling a 1990s t-shirt, there is a simplistic product.
Overall, most societal trends tend to be cyclical, whereas tech trends are linear. This is because we are uneasy about future technology, so we settle on being nostalgic for the past when things seemed "simple." So much so, people on TikTok were nostalgic for quarantine back in March when we hit the first-anniversary mark. Don't ever underestimate the past's influence on what is to come.
Electives
What to Read:
How Aristotle Created the Computer
I love the start of this essay, where it points out that mathematics was once thought of as a "hopelessly abstract subject with no conceivable application." The premise of the article is how computers operate based on specific coding logic. Most computing logic consists of "if x is true, then perform y" These concepts were introduced by early philosophers in their work. For example, one of Socrates' philosophies was, "All men are mortal. Socrates is a man. Therefore, Socrates is mortal." It's a technical piece, but a very cool historical timeline of philosophy making its way to mathematics then computers.
Podcast to Listen to:
The Tim Ferriss Show… #301: Joe Gebbia - Co-Founder of Airbnb (March 2018)
This is in my top 5 favorite podcast episodes of all time. I can't recommend it enough. Not only are there some good business bits, but Joe is a highly entertaining guy (seems to be a recurring quality in tech entrepreneurs), and the story of how Airbnb formed is fascinating. Here are a few things I noted:
When talking about one of his life philosophies, Joe learned this equation from, I think, a college professor:
SW^2 + WC = MO
Some will love it; Some will hate it + Who cares = Move on.
Fetch me a sharpie, please.
"Often, critics are people who can't or choose to not see the world the way you see it… so who cares?” I never entirely uncovered through the pod why Joe had such a big chip on his shoulder, but it was evident in his demeanor.
"It's so much easier to dump on something than to find a solution."
Love it. Devil's advocate is the famous and often necessary game when discussing ideas, but it's a whole lot easier to play than the creator.
"Half of the world is in the same tech advancement you are, while the other half, one could argue, is going backward."
Historical Find:
I dug up the infrastructure bill from 1983 to compare it with the 2021 version that the Senate voted on Thursday. The 1983 bill was 162 pages compared to the 2021 version, which was 2,700+ pages. It's safe to say, society has advanced. Here are some of the funny subsections of the 2021 bill (who knows how much money they are getting):
Highways: Wildlife Crossing Safety
Rail: Grants to Amtrak (plz come to Nashville)
Motor Carrier Safety: Limousine Research (the only thing we need to research is why they aren't more popular)
Research & Innovation: Actually, a lot of electric vehicle subsections, pretty interesting.
Patent App of the Week:
HUMAN BODY STATIC ELECTRICITY CONTROL DEVICE AND HUMAN BODY STATIC ELECTRICITY CONTROL SYSTEM - SHISEIDO COMPANY, LTD (Tokyo, Japan)
A stationary installation type device that removes static electricity on a human body or removes dust or pollen attached to a human body by blowing an ion wind is known as a technique to control the static electricity on the human body. A human body static electricity control device that controls static electricity on a human body and has a structure that is wearable on a human body, the human body static electricity control device comprising: an ion generation unit that generates ions; an ion discharge unit that discharges ions generated by the ion generation unit to a human body in a state where the static electricity control device is worn by the human body; and a control unit that controls an ion generation operation in the ion generation unit.
This one is a doozy, but I like it because I hate static electricity. Apparently, the static electricity we give off is how we collect dust and pollen as well. Count me in.