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 a Venture Capitalist, you must be able to sell (1) you and the firm, (2) the company, and (3) returns. Sell these 3 well and you might win in VC.
I struggled with how I should react & respond to cold emails in the workplace during the first two years of my career as a VC.
As an investor, CEO, founder, or leader you must persevere until exhaustion, with discipline and rational determination.
