00:00 Walmart's acquisition of jet.com for over $3 billion is discussed in this episode, along with the history of jet.com's co-founder Mark Laurie and his previous ventures in e-commerce.

05:47 Jet.com's co-founder, Mark Laurie, left Amazon in 2013 with a chip on his shoulder and a desire to compete with the company, leading him to start Jet.com in 2014 with the vision of becoming the low-price discount retailer on the internet and winning over the middle class of America.

11:49 Jet.com raised $220 million in funding before even launching their product, and they spent a significant amount of that money on advertising and customer acquisition, including giving away free memberships to their early membership program.

17:08 Jet.com dropped their membership fee and lowered prices in an effort to attract more customers, but despite the potential profitability concerns, they were able to raise another $350 million in funding and saw incredible growth in active customers and revenue.

22:35 Jet.com's CEO, Marc Lore, admitted in an interview that retail e-commerce has never been a winner take all market and that there will be a large number of players, including Jet.com, who can be number two, three, or four behind Amazon.

28:29 Walmart acquires Jet.com for $3.3 billion, with Jet.com CEO, Marc Lore, continuing to run the company as a standalone property and also running Walmart.com, with a significant portion of his financial outcome from the deal being subject to him staying at Walmart for five years.

34:10 Jet.com caters to the millennial and urban demographic better than Walmart, and it is unclear what will be the thing that pushes Amazon into irrelevancy.

39:45 Amazon and e-commerce are still in their early stages of growth, with mobile and online retail having significant potential for expansion, and while there may be waves of disruption, Amazon is well-positioned to stay ahead due to its strong architecture and ability to adapt to new trends.

45:35 Amazon and Google are in competition over customer acquisition, with Amazon using tactics like donating affiliate fees to charity to incentivize customers to bypass Google and go directly to Amazon, and while Jet may not have been able to raise the necessary funds to compete with Amazon, it is likely to be acquired due to the investments made by VCs and mutual funds.

51:09 Jet had a hard time competing with Amazon on price due to razor-thin margins, and it's difficult for companies operating in a commodity market to disrupt themselves.

56:39 Jet's logic was flawed because price, convenience, and selection are important to everyone, and Jet was not going to disrupt Amazon; Walmart acquiring Jet was the best move they could make, but it still wasn't as good as YouTube; Disney continues to excel with strong female protagonists in Star Wars; there have been a lot of recent M&A transactions, including Verizon acquiring Yahoo.

01:02:32 Verizon's acquisition of Yahoo is confusing, Lyft turning down GM's acquisition offer may not have been a good move, Microsoft's acquisition of Beam will likely be part of their gaming strategy, and Monster.com's acquisition by Ronstad shows the power of network effects.

01:08:38 Strava's customer experience is enhanced by features like tracking rides and joining friends together, making working out and exercising more fun and community-oriented.