Spencer
4K posts
I somehow missed this when it dropped but this was really well done and an incredibly fun watch
Founders Fund@foundersfund
MAFIA EP 001
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I don’t care if you’re using humans or AI to ship code, just please don’t break my checkout during peak hours again pls
tobi lutke@tobi
A huge amount of the Anti-AI code sentiment massively overestimates the quality of human code outside of a very small set of open source and high quality company codebases. Human Slop is everywhere and can trivially be improved on by any opus level model.
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someone laughed at a 1.74 roas in my comments last week 😂
meanwhile there’s brands doing 8/9 figures at 1.2-1.4 break-even ROAS (or lower if you’re on subscriptions but let’s imagine no subscriptions$
the number means nothing without context. your roas is not a flex, your BER is. quick math all the brain dead people on X don’t want to do:
scenario 1:
selling price: $60
cog’s: $8,
shipping: $6
fees ~$3 (prob lower)
you break even around +- 1.4
scenario 2:
now imagine selling at that same $60 with $25 cogs + shipping + fees because you “wanted premium packaging” now you need 2.3 just to not lose money.
now imagine your top ad in scenario 1 might be a 1.8x ROAS ad and you’ll scale it, for scenario 2 you’d be at -12% net margin per order. same ads. scenario 2 is stuck at <50K days forever while scenario 1 is outscaling you.
In the end offer building (&ecom in general) just comes down to the very basic fundamentals of doing business which a lot of you seem to forget.
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Things that are worse in America than Europe:
1. iMessage. WhatsApp is infinitely better in every single way, and you all know it
2. Dates. Going MM/DD/YY is non-sensical. Go from smallest unit to biggest
3. Showers. One knob for heat and water pressure? Imprecise. Third world-esque
4. No roundabouts. Objectively superior system to stop signs and junctions
5. No sobremesas. You get rushed out of restaurants by waiters incentivised to turn tables, which is tough because all the best conversations happen after you've finished and paid. The amount of breakthroughs and philosophical conversations that have never taken place due to this is startling
I love America so these aren't digs. Just some things you need to sort out (respectfully)
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@SmallParcelGuy No power steering, loose speakers rolling around on the floor, overheated anytime it got over 80 degrees. As God intended
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Broncos had way more aura before celebrities started buying $250k resto mod versions
To prove I know ball, here’s my 1976 bronco I drove back in high school before they were a fashion accessory
Complex Style@ComplexStyle
Kim Kardashian showing off her custom Ford Bronco 😍🔥
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@runtraffic Big time lol
Sold it for $10k in 2009 at the height of the financial crisis RIP
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@ecomrat i knew a guy in the woods doing restorations for 50k-75k in the 2000s
i can’t imagine what his personal stash is worth now
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Main things to reduce churn in my experiences comes to understanding your cancellation reasons:
1) 30% of customers didn't even know it was a subscription that they signed up for.
a) This meant changing all flows pre and post checkout and providing layers of education not communication in the email flows.
Showcasing how to use product and expectations on 30-60 day window.
b) Showing the benefits of being part of subscription vs not being on subscription. We provided a calendar of future gifts while being on the brand. 30-60-90-120 days what does your life + value added look like.
Any initial paused/cancelled calls would get a direct phone call to understand pain points to provide a better CX. From there we'd figure out how to objection handle on our emails + landing page to help reduce that churn %.
2) Subscription audience gets pulled into a seperate audience on Meta.
That audience gets served specific ads on how to improve lifestyle from this product. It's consumable, which means the product alone won't change but you have to make a lifestyle change. This campaign contains content from organic which pushes educational and thoughtful content. Allows us to also go back and forth with exisiting customers while educating them in comment section.
3) Changed our product size to match the consumption not the calendar.
Product was essentially too big for usage. People had too much of it and changing the size alone helped make sure we provide enough of it at a reasonable price and value to the customer.
Our consumption window is now 20 days vs the previous 40. Which means customers actually wait for product now vs sitting on it.
There's other things we've done but those three were probably the biggest swings.
Cody Plofker@codyplof
@therahulissar What are the top 3 things you’ve learned?
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3 years in, over a quarter million orders.
Just hired a creative strategist and part time video editor.
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