This is relevant because that’s how I met my future co-founders. It’s executing on it, and making it really happen, especially in our case. Marco Zappacosta: And that’s true for us. I think over time as we build out a deeper and deeper relationship with these pros, you’ll see us be ever more transactional. Marco: Oh, super pissed. Andrew: One hundred percent you will kick my butt if you’re not happy and don’t get your money back. I’m a native-born, Silicon Valleyian. Marco: There were really two that…I mean Thumbtack was the second. What we came to believe was everything that existed at the time — now we’re talking 2008 and into 2009 — was an online version of an offline product specifically classifieds or directories. They’re saving a lot of work hours by helping companies that track work in the field with paper to convert to digital means and streamline the process. There was no stick to force people to do so and there’s actually a disincentive because it meant you had to pay when you reported to us what was going on. It is…maybe someone in…pop-up ads appearing on your computer. Your neighbors have hired zero or one plumbers in the last few years, and the odds that their plumber is right for you is very, very low, but you go to them because of trust. Andrew: Did you take any money off the table with the Sequoia raise? So if you’re excited about that, sign up. It’s a static repository of content. It’s also understanding what future investors want you to go do. It was well worth the effort, and he says he’s a very different person for the experience. April ’13 was the first month that we had fully rolled it out. Then I ended up spending a semester, as well, taking off from college and working on this thing. And so, really, like, our first year and change was focused on this problem. That trillion dollars doesn’t count B2B spend. Pete Flint: You’re providing a huge amount of value to facilitate an offline interaction initiated online. . Marco Zappacosta: Yeah. And people need to trust that, because first and foremost, it delivers. You and your company can be successful and me and my company can be successful and it’s sort of independent of each other. Classifieds still had this ephemeral, like the only existed for a few days, and then the stream expired, meaning that these pros could never build a reputation and a profile that’s permanent where they could accrue trust, so they were forced to compete on price. Marco: I would, just don’t get cute. We are bringing these buyers and sellers reliably in a way the delights both of them, and yeah, we don’t really know how exactly we’re going to make money,” or “We’re doing it this way and we’ll have to figure out a better way to do it tomorrow.” They said, “Yeah, OK. Good luck,” which in retrospect, it makes sense. And our view was like if you create enough value and if you brand it in the right way, and you communicate how seriously you take the whole trust angle, we think you can. We only wanted profiles that we had a relationship with that pro. Here’s the proof.” Sequoia, to their great credit, jumped on it. But even worse, because it mediated through human beings, those humans get tired, or sometimes, they’re driving their cars, or they are working on a side of a house up on a ladder, and they can’t respond. You have the sellers and you talked about the process for finding them, contacting them and getting them to come on the site. I also went to school with the same group of guys from preschool through twelfth grade, so it becomes easier to push back when you know the bullies from the start. Google made it incredibly easy to find information, and yet, you still had to work hard to spend money to hire a pro. . Maybe it’s sending you traffic. If you look at the trend over the last 10 years in the sharing economy, really what you’ve seen is a capital assets, homes and cars being brought into marketplaces, and through that been able to offer enormous consumer surplus and value. If you can leave a review as well, that would be fantastic. And if it sounds a lot like Mint, it was exactly like Mint. 00:34:30 Our first investors were friends and family, we had 1,000 users, a product and a path to grow, having customers gave us credibility when we went to OAF. So what works for a handful of transactions doesn’t actually work across true scale, marketplace is doing hundreds of millions in GMV like ours. If they want to meet me, they say yes, and you make the match, and that’s when they get charged. You spend very little mental energy worrying about or sort of… It doesn’t grate you. : It’s interesting the way that you put it that you are a Silicon Valleyian. We could sort of take it from the rest of the internet. How do you see that? There is so much latent human potential that is going unrealized that we can improve upon if we find the way to crack this. I don’t need it to be consistent for them. Mixergy is a site where I do interviews, and I’ve got over 900 interviews on the site. It’s about methodical execution of a very deliberate plan. Right back who is famous for his international club career in both Italy and England's Premier League. All that’s available to anyone at MixergyPremium.com If you’re a member, you get full access. And tell you what, instead of just making this an ad for Scott Edward Walker, why don’t I just ask you, one piece of legal advice for other entrepreneurs based on your experience. But then I spent a summer in a lab, and I realized that was deeply boring and not something I was going to be able to do. Marco Zappacosta is the founder of Thumbtack, which allows you to hire and verify local professionals for home improvement. We certainly have some seasonality around the holidays, but search traffic has been super strong. Then, we were just another guy and me. Marco Zappacosta: I think we are in the very, very early days of labor, or service, or human capital marketplaces, however you want to think about it, to dramatically increasing the efficiency through which the two sides of that transaction can find each other. We think there’s still so much more to do, but we’re further than we ever thought we could be and still not even one step towards where we would like to be over time. It was a matching problem. All of capitalism is about enabling sort of your laziness to get what you want easily. We are in a good place. We’ve raised 400 million dollars from Sequoia, Tiger, Google, Baillie Gifford, and Javelin. problem. Today we have a very interesting guest. Alejandro: Alrighty. The challenge was, we had a model, the request for quote model that had too much inconsistency because of the effort that it asked of pros to read, review, and respond each and every time a customer request came in. Marco: We just did what we wanted to do. That was fun and also very hard. : Yeah. Marco Zappacosta: I think at the end of the day, we need to be the most trusted place to hire the right pro for whatever you need done. They want more customers and we’re delivering them by email, by text to their pockets, and they love it. That at first everything was open on your site and on his site it was closed. It sapped the energy from our marketplace. What mattered more was beginning to show the unique economic story that we could monetize these interactions and these connections more effectively or at all. Pete Flint: I’d be interested in the transition. 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