SmileDirectClub: Closing the Gap with Affordability

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[00:02:38] - [First question] - What is SmileDirectClub and their current scale

[00:03:56] - Their economics and revenue over the past year

[00:04:59] - What SmileDirectClub is from a consumer perspective 

[00:07:19] - The core insight that lead to founding the company

[00:08:55] - Early bets that paid off in the long run as they scaled

[00:10:00] - Differences between clear aligners and traditional braces

[00:11:28] - Market size and cases that need servicing annually

[00:13:21] - Invisalign; Direct to consumer model and unit economics  

[00:15:57] - Customer acquisition funnel and diversified marketing approach 

[00:20:17] - How shops became the major form of how they provide treatment

[00:24:02] - Navigating the pandemic and reflections on 2020

[00:26:25] - Lessons learned and value unlock from a monthly subscription model

[00:28:44] - Thoughts on the market size today and opportunity for the future

[00:29:47] - Prioritizing international sales and market penetration

[00:30:39] - Lessons learned from executing in international markets

[00:31:42] - Competitors in this space and their vantage points

[00:33:29] - How SmileDirect competes with Invisalign

[00:34:55] - Their prior history with Invisalign and being an early investor

[00:35:46] - How the market may play out in the next five to ten years

[00:37:07] - What SmileDirect will have to get right to win over the next decade

[00:40:10] - Why metallic solutions and braces have survived this long

[00:42:44] - Their biggest risks over the coming decade that may threaten their growth

[00:43:42] - Navigating legal risks and challenges faced with SmileDirect’s disruptive nature

[00:45:39] - Lessons for builders when studying SmileDirect’s story

[00:46:31] - Lessons for investors when studying SmileDirect’s story

[00:47:07] - Resources for learning more