EM Group Chat #143: Marketplace Investor Insights With James Currier From NFX

Group Chats
James Currier

Recording of the Everything Marketplaces Group Chat #143 (10/24) with James Currier, who's a Founding Partner at NFX. NFX is a leading venture fund that's invested in 80+ marketplaces like DoorDash, Lyft, Poshmark, Outdoorsy, Incredible Health, and more. James is a leading mind when it comes to both network effects & marketplaces and frequently publishes blog posts about them on the NFX blog.

0:06 Intro
1:28 James's background
3:01 Early founder & operator learnings
5:21 An overview of NFX as a leading venture fund
7:39 How NFX works with early stage founders & marketplaces
10:15 How NFX evaluates marketplaces
13:17 What differentiates the good vs. great marketplaces
15:51 The importance of the white hot center
17:49 Marketplace expansion
21:18 Characteristics & traits of the best founders
23:38 Opportunities with B2B marketplaces
26:04 How marketplaces can leverage AI
27:13 Pitfalls for marketplace founders
29:26 Group Q&A on trends for marketplaces to vertically integrate
32:13 Group Q&A on the impact LLM's will have on marketplaces
34:58 Group Q&A on how metrics driven early stage marketplaces should be
39:10 Group Q&A on benchmarks to raise a Seed round from NFX
41:50 Group Q&A on marketplace defensibility
46:21 Parting advice

James's blog posts: https://www.nfx.com/library/james-currier
James on Twitter: https://www.twitter.com/jamescurrier
NFX: https://www.nfx.com

You can also find this group chat in audio format as an episode on our new Everything Marketplaces podcast on Apple Podcasts and Spotify. You can also connect with marketplace founders & leaders from our group chats in the Everything Marketplaces community.