Invest Like the Best with Patrick O’Shaughnessy
Business:Investing
My guest today is Francis Davidson, founder and CEO of the hospitality brand Sonder. Francis launched Sonder in 2013 as an alternative to traditional hotels and rentals with a specific focus on technology and design. During our conversation, we discuss where Sonder fits into the hospitality ecosystem and why design is so key to their offering. We also touch on Francis’s unique views around customer-centric focus, the nuances of hiring a team, and how they approach decision-making. Please enjoy my conversation with Francis Davidson.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
-----
This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.
-----
At WatchBox, the world’s finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox’s global team of expert client advisors is ready to help you find the watch you’ve always wanted. Step into the collector’s circle at thewatchbox.com/patrick
-----
Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
[00:02:38] - [First question] - Thoughts on the obligation of a business to deliver the best possible customer experience
[00:03:43] - Making a decision that actively went against improving the customer experience
[00:06:00] - What Sonder is and the key insight that led to building the business
[00:08:43] - Ways they cut down costs by leveraging technology available today
[00:10:44] - The economic model of the business and where it differs most from other hotels
[00:12:15] - The journey of $100 coming in to Sonder and working through the company
[00:13:20] - How the building or asset owner is integrated into the business model
[00:14:18] - Network density and how he thinks about it when it comes to scaling Sonder
[00:16:18] - His philosophy on design and why he thinks it matters in hospitality
[00:18:05] - What you can overspend on and underspend on to keep a guest happy
[00:21:05] - Making decisions on building in house or partnering to provide a new solution
[00:22:29] - Do property owners dress up their own hotels or are there guidelines and retailers
[00:23:51] - Lessons learned from working with overseas manufacturers
[00:24:44] - The key levers that will drive the growth of Sonder
[00:26:59] - What a typical occupancy rate is for them versus other hospitality options
[00:28:23] - Category creation and design that influence and change how people behave
[00:29:45] - Qualities of a new market and what drives success in attacking it
[00:31:15] - His contrarian viewpoint on building a business and talent density
[00:33:40] - The features of his job’s product and the interview process
[00:36:21] - Does everyone at a company need to be an A player?
[00:38:00] - His philosophy on team culture and developing synchronicity
[00:41:01] - Ways to build strategic competitive advantage inside of Sonder
[00:43:22] - What the most successful version of Sonder will look like ten years from now
[00:45:16] - New features and tech improvements that are coming soon he’s excited about
[00:46:48] - Trends in hospitality that have been accelerated and changed by COVID
[00:48:36] - Growing changes in the glamping and nature-forward guest experiences
[00:51:04] - The kindest thing that anyone has ever done for him
Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]
Howie Liu - Building Airtable - [Invest Like the Best, EP.375]
Mark Groden - The Future of Flying - [Invest Like the Best, EP.374]
Dev Ittycheria - The Database Evolution - [Invest Like the Best, EP.373]
Nico Wittenborn - Finding the Adjacent Possible - [Invest Like the Best, EP.372]
Mitch Rales: The Art of Compounding - [Art of Investing, Forever Episode]
Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]
Bill Gurley & Michael Mauboussin - Putting Theory into Practice - [Invest Like the Best, EP.370]
Tim Ferriss - Curating Curiosities - [Invest Like the Best, EP.369]
Ken Langone - The American Dream - [Invest Like the Best, EP.368]
Robin Dunbar - Optimizing Human Connection (Dunbar's Number) - [Invest Like the Best, EP.367]
Sean Feeney - Reinventing the Restaurant Business - [Invest Like the Best, EP.366]
Dave Fontenot - The Monastery of Code - [Invest Like the Best, EP.365]
Anne-Marie Peterson - The Capital System - [Invest Like the Best, EP.364]
Aravind Srinivas - Building An Answer Engine - [Invest Like the Best, EP.363]
Ali Hamed - Building an Investment Firm - [Invest Like the Best, EP.362]
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, EP.361]
Danny Meyer - The Power of Hospitality - [Invest Like the Best, REPLAY]
Chuck Akre - The Three Legged Stool - [Invest Like the Best, REPLAY]
Alex Telford - Unlocking Innovation in Pharma - [Invest Like the Best, EP.360]
Create your
podcast in
minutes
It is Free