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.
As I am back in SF, I have been looking to catch up with friends over dinner. I can’t imagine how painful it must be to own a boutique hotel or a restaurant.
I am pleased to announce my next company, Atman Capital. Atman is an egregore of the most successful founders in tech with full alignment from day one.
Now, more than ever, you are being asked to present the unabridged version of yourself, without any shortcuts or alternatives.
