The Secret Weapon Behind Chewy Founder Ryan Cohen's Success - May 4, 2020
The Secret Weapon Behind Chewy Founder Ryan Cohen's Success - May 4, 2020
From starting his company to selling it to PetSmart for $3.35 billion, Cohen always had someone to turn to for advice.
- Watch your expenses
- Delight your customers
- Be the person others want to follow
- Take the long view
- Trust yourself
Wasn't the company running at a massive deficit until it was sold?
It was! I got that information from a biased source though, I worked with Petco corporate.
The idea is: you operate at a loss to undercut your competitors, in hopes you'll attract long time customers. Eventually, they either ramp up costs, or legitimately have a way to cut down the costs of operations. Usually, it's the latter.
If I remember correctly, most of their money was also spent on marketing, which honestly worked. We'll see how that continues to play out, though.
How’s that BBBY turnaround going? And GameStop - that’s a $1000/share company now, right?
If you're acting in good faith with this comment, check out the $1T swap coming due on the 15th of December (into a high interest rate environment).
That, coupled with more than 76M stock directly held by retail and enough money to burn for more than 8 years, GME is so far away from a bankruptcy that it is only a matter of time before that original >260% shorts buy-to-close.
Consider DRSing 1 single share for a measly $12 so you can hopefully tell me "I told you so" in the future w/ this comment as proof :).
Who the fuck cares about BBBY?