After a week in Miami, I got back home to San Francisco. As I was opening my mail, I got this letter from Macy's. It told me that a store that I've never been to is closing.
There are so many things wrong with such a move. At some point, someone had a meeting about doing this. They thought it would be a good idea to inform customers of a store closure. A store to which they have never been to. No data correlation. No omnichannel strategy. Nada.
Some traditional retailers deserve pain. This is lunacy and a waste of marketing dollars.
I love shopping offline and local. That said, the ones that don’t innovate will die pretty fast.
If Macy's does stupid things like this and had US$24.9B in revenues last year, imagine what you can do when you start and scale your company. This is the beauty of venture capital and entrepreneurship.
Long live $SHOP and $AMZN + the entire sea of DTC founders out there. Short $M — Just mentally since I don't short stocks as a matter of principle.
At least in my network, I am traveling prolifically since COVID started. I have been to over 25 different cities, multiple states in the US and in Brazil.
Lack of adaptability is the best seed for ignorance. Don't allow yourself to be slaved by tradition. Learn how to differentiate and adapt. Don't give up.
During most of 2017, I averaged 5–6 hours a night. Not sleeping enough was killing me and my ability to get things done.
