Founder’s Field Guide
Episode 15 Lessons from the Amazon Ecosystem
Founder’s Field Guide

Episode 15: Lessons from the Amazon Ecosystem

Lessons from the Amazon Ecosystem

Carlos Cashman is the co-founder and co-CEO of Thrasio an acquirer of third-party Amazon sellers. We cover the third-party Amazon seller ecosystem, the future of e-commerce, and lessons that he's learned building Thrasio into a $1B company.

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[00:02:44] – (First question) – Origin of Thrasio

[00:07:27] – The types of business they work with

[00:11:19] – Challenges for smaller businesses selling on Amazon and when they need a Thrasio

[00:15:31] – How the Amazon ecosystem has changed since they started

[00:18:14] – The capital sourcing side of their business

[00:19:49] – Future of the e-commerce space that has them excited

[00:27:20] – What makes the major online platforms so powerful for DTC companies

[00:32:18] – How edge erodes on spend when people crowd into a platform

[00:34:46] – Building the recognition of the Thrasio brand

[00:44:06] – His history as an entrepreneur and what was the common thread in these businesses

[00:45:47] – Getting customers early on

[00:46:47] – Knowing when something will fail

[00:48:48] – Downside of MBA’s

[00:50:07] – The importance of people in building a company

[00:51:01] – Effectively hiring people

[00:52:37] – What has to remain with the founder

[00:52:50] – The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

[00:53:53] – Other places in e-commerce that fascinate him

[00:56:36] – What are the risk factors that he worries about

[00:59:12] – Kindest thing anyone has done for him 

Lessons from the Amazon Ecosystem

Introduction

Patrick
My guest today is Carlos Cashman, co-founder, and co-CEO of Thrasio, an acquirer of third-party Amazon sellers. In a surprising departure for a high growth company, Thrasio has been profitable since its founding in 2018 and was most recently valued at more than $1 billion. In our conversation, we discuss the full spectrum of the Amazon third-party seller ecosystem, the effects of globally commoditized manufacturing, and the terms of Thrasio's acquisitions of Amazon businesses. I hope you enjoy this great conversation with Carlos Cashman.

Thrasio

Patrick
Let's go into the origin point of Thrasio. Tell me how you and Josh conceived of this idea, the very first conversation that ultimately led to this business.

Carlos
I had this fantastic Facebook marketing agency called OrionCKB. My team was really good at customer acquisition marketing on Facebook, Instagram, all that. We started in 2013, 2014, and were growing from there. Because we were so good at customer acquisition we had a lot of e-commerce businesses, and great ones. I was watching them all grow, and they were largely growing on what we were doing. They're super happy going out and getting $50 million, $100 million valuations, and we were getting paid our monthly check, which in some cases was nice and sizeable, but it was still just a monthly check. And I'm an entrepreneur. I'm always looking for that lever. So, I started thinking about what more could we do, and I think everyone loves to sell stuff. I've always loved e-commerce, and we were starting to mess around with Amazon potentially with some of our clients as another performance marketing medium, let's say in 2016 or so, 2017.

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