E16 Unpacking marketplaces and modern food delivery wars with Mike Ghaffary from Canvas Ventures

Sand Hill Road

In this episode, Erasmus Elsner is talking to Mike Ghaffary, GP at Canvas Ventures.

00:00 Intro

02:21 Swiss army knife of education

04:04 Business school after Dotcom bubble burst

05:06 Founding Stitcher

06:14 Focusing on news

08:03 Becoming CEO of Eat24

09:39 Growing Eat24 to $700m top line

10:45 Food delivery wars

11:55 Grubhub Partnership that never launched

13:12 Jeremy Stoppelman and Steve Jobs on search on mobile

14:30 Becoming a successful angel investor

15:35 Making the most expensive iPhone app ever

16:37 Angel investment in Strava

17:20 Angel investment in Superhuman

17:50 Joining Social Capital

19:58 Mike’s experience at Social Capital

20:28 CloudKitchens investment

21:30 HubHaus investment

22:37 Joining Canvas Ventures

24:04 Flyhomes investment

27:52 Marketplace Deep Dive

28:27 Lenny Rachitsky: focus on supply or demand side?

30:06 Thomas Eisenmann: Two-sided networks

30:57 Uber: demand side vs. supply side subsidies

32:09 Local vs. global network effects

33:24 Sarah Tavel (Benchmark) on unlocking new supply

34:21 Local delivery war zones

35:36 Uber Eats entering the market

37:04 Public vs. privately held delivery war contenders

38:54 Marketplace take rate

40:38 Out-of bound marketplace take rates

41:57 Zero percent take rate