We're bringing together the families with the venues and marketplace businesses are hard. They've got the cold start problem. But once you bring two sides together, have a two sided marketplace, it's, it's a wonderful moat because any would be competitor has to go to all the venues that you've already signed up and say sign up with me.
Acquiring Minds
Buying 2 Rivals to Create a Dominant Leader
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And they'll say yeah but you don't have the, you don't have the customers. The Get Out Pass guys have the customers and vice versa. Of course they'd have to.
Anybody who wants to compete with you is going to have to go get the venues first. You can't have customers without venues. So that's how they would have.
They would attack it. And, and you, you're already there because you have the customer. So, so it's just, it's just wonderful.
And I, I guess I'd say the only, the, the only thing better than a marketplace business is like a business that is a bunch of small marketplace businesses. You've basically got these marketplace business dynamics in all your markets. In all your. How many markets are you in now?
20, 25, 30. We're in 32, 32 and 32. So some competitor would have to go market by market by market and in each one have the cold start problem and trying to be unseat and established marketplace business which is you guys. So pretty valuable.
And by the way you mentioned Groupon earlier and how you mentioned in the context of venues not really liking it because it brings all these people who came in from a discount and then kind of anchors their pricing expectations. All the reasons that anybody who has followed the, the trajectory of that company know that that venues ultimately and retailers ultimately didn't really like Groupon.
But it is kind of a Groupon like dynamic where Groupon built these big lists of in local markets and they went market by market by market, established all these relationships with retailers and venues and what and service providers in a local market and a big list in a local market. And then it became very difficult to. So it was kind of a winner take all Dynamic like so many tech businesses.
I don't know if I'm overstating it here but this, this business. But get out feels similar. And I guess the question to you would be from what you saw in Jim Pass is that, is this an analogy?
The analogy I'm drawing is it. Does it work? Yeah, yeah. It's very analogous. I think that, you know, the. The.
At the end of the day, if you're a venue, you don't want to work with five different partners like us. Right, right. You want the best partner that is going to continually bring you new potential customers. And because you do have to train your front, your frontline staff to accept these different passes and to understand how to interact with them.
And so. And so, yeah, that. That network effect and that marketplace dynamic. Exactly. Is what, 100% in play here. And so, you know, the.
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