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Show Overview:
This week the team talks to Patrice Darby the founder of GoNanny a Chicago based business that matches parents with babysitters. This opens up conversations about the unique partnership between OEM’s and Startups.
About GFGF:
The Get Found Get Funded podcast is at the intersection of entrepreneurship and social justice where we focus on entrepreneurship as a possible path to wealth creation — specifically for Black and Latinx communities.
Featured Guest(s): Patrice Darby & Miguel Payan
Patrice Darby:
Miguel Payan:
Key Takeaways:
- It can be beneficials for OEM’s to work in harmony to mitigate their risks and costs.
- The slow nature of OEM’s makes it a perfect environment to innovate and take risks.
- Startups should try to think about what an executive or investor is looking for. A VC will be first and foremost looking for a company that is aligned with their strategic intent.
- Startups looking for funding need to know their projected or current business metrics and be able to share this with investors.
Timestamps:
0:58 – Introduction
3:44 – What is mobility?
7:39 – How ride sharing companies have been affected.
9:55 – Auto companies partnering with OEMs.
14:47 – What is GoNanny?
20:06 – Safety and convenience
Items Mentioned in the Show:
Quotes from the Show:
- “10 years ago when Uber came up, as you said, people were like, ‘What is that? I will never use it.’ Now---Uber is a verb.”
- "When you have this really rapid and emerging mobility ecosystem, in some ways threatening their business model, they need to inject innovation via the startup ecosystem. That's where the startups play a really key role."
- “You need to study and understand what the vision for that OEM or or the company is for you to pitch to that vision. And then yes, you have to have the business case metrics.”
- “OEMs aren't able to innovate as fast---Aren't able to try things as fast, and so that sort of ecosystem presents a really good opportunity to try new business models.”
- “If you were to map that in a series of interactions, you would see that everyone is playing with each other to mitigate risk, to lower the costs of investing in this type of startups.”
- “Now you're seeing a lot of partnerships between telcos that are companies that are deploying the 5g spectrum, which is supposed to be revolutionising the speed at which we can get information in mobile devices.”
- “You're talking about putting in the car seat, but what about cleaning the car? What about fuel? And what about the utilization perspective of those cars?”
- “There's a lot that goes on that startups need to think about. From an operational standpoint, that is a difficult challenge.”
- “That's why I wanted to, you know, bridge that gap, because the auto industry is missing out on a lot of opportunities when it comes to our workers and utilization.”
