The Secret Weapon Behind Chewy Founder Ryan Cohen's Success | Entrepreneur
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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
    • Xanthrax@lemmy.worldEnglish
      11·
      1 year ago

      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.

  • Overzeetop@sopuli.xyzEnglish
    417·
    1 year ago

    How’s that BBBY turnaround going? And GameStop - that’s a $1000/share company now, right?

    • Fascist Lib Instance@lemmy.dbzer0.comEnglish
      10·
      1 year ago

      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 :).