Billionaire Marc Lore on What He Would Build Today and Future of Ecommerce | My First Million #186

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - Shaan (@ShaanVP) and Sam (@TheSamParr) talk with billionaire Marc Lore. Marc is an entrepreneur who started The Pitt, Diapers.com, and Jet.com. Collectively he has sold his companies for over $4B. Marc talks about his plans for his new NBA team, the Minnesota Timberwolves, which he bought alongside Alex Rodriguez. He talks about how he plans to run the team like he has always ran his companies. He talks about the importance of hiring the right people (and how to do it) and being well-capitalized. For the second half of the podcast, we jump straight into a brainstorm. Marc talks about the interesting companies he's investing in as well as the ones he would like to exist. He even breaks down how he would go about creating a $100m e-commerce related company within the next 3 years — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth 💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch Links: 📧: Sign up for The Hustle Daily Newsletter: https://link.chtbl.com/S4snt-x4 🎙️: Download Our Podcast: https://link.chtbl.com/K5uzcpUA A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us. --------- Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ Support the pod by spreading the word, become a referrer here: https://refer.fm/million Have you joined our private Facebook group yet? Go to   / ourfirstmillion   and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: (0:00) Intro (4:57) How Marc came to own the Timberwolves (14:25) How Marc Lore hires people (26:10) These are the companies Marc is investing now (35:20) How Marc decides which companies to start and how he goes about it (42:27) Where Marc thinks the future of e-commerce is going (52:53) How Marc would build a company to sell for $100m (58:06) Shaan and Sam debrief