Thanks to the 3 body problem series I have another metaphor to explain intricacies involved in building marketplaces. Before joining ThredUp, I have consulted a dozen of small and well-established startups building marketplace platforms. While pitching such potential clients I broke the ice talking that complexity of the marketplace is not doubled comparing to SaaS but squared. The reason being that a marketplace is not just selling its distinct value props twice - to the buyers and to the sellers - but it needs to sync this in time. Balancing supply and demand becomes a high-wire act, squaring the complexity faster than you can say "market disruption." A mere hiccup in this delicate balance can send shockwaves through the business. I remember palpable hype when Uber launched in Ukraine. I installed the app, requested a ride, waited for more than 40 mins, never used Uber consistently in Ukraine after that. While Uber fumbled, local ride-hailing hero Uklon retained its crown, showing that even giants stumble when they cannot calculate the market. That is where 3 body problem comes in. Just as celestial bodies interact in complex ways, the dynamics of supply, demand, and platform operations create a nuanced ecosystem. Navigating this 'marketplace trilemma' demands strategic foresight, adaptability, and a deep understanding of user behavior. Why do I adore likening marketplace development to this celestial riddle? Because, much like in physics, there's no easy fix. "Unlike two-body problems, no general closed-form solution exists, as the resulting dynamical system is chaotic for most initial conditions, and numerical methods are generally required." (https://lnkd.in/gAfzkYej) So embrace complexity and unpredictability, appreciate the challenge, learn from failures, celebrate wins harder, defy gravity and propel marketplace success. And hey, if you're on the lookout for top-notch talent to bolster your #MarketplaceDevelopment dream team, look no further than these stellar #OpenForWork professionals: Daryna Shulha - talented recruiter who headhunted to us the best engineers I ever worked with. Marina Grusheva - professional React/FrontEnd engineer who launched half of our business clients. Oleksandr Shevchuk - RoR #backend engineer with pretty unique experience in supply, search and merchandising. Olya Lutsyk - #iOS engineer with great attention to detail and disciplined execution of complex impactful changes like rebrand or mobile home screen overhaul. Spread the word and share this post to help these remarkable professionals find their next mission. After all, every great marketplace needs a stellar team to bring its vision to life.
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Are 10x engineers a myth? Startup founder's request for advice on recruiting a small but highly skilled engineering team, referring to them as "10x engineers," sparked my interest. I believe in small efficient engineering teams. While I helped with two approaches for finding such engineers - doing it themselves or outsourcing to specialized companies - the existence of "10x engineers" has been a subject of debate in the tech industry. There is no clear agreement on whether they truly exist or are merely a myth. What I saw and heard as pro arguments: - Some companies have reported having employees who have made significant contributions, leading to a disproportionate impact on the company's success. - Studies have shown that top performers can be up to 8 times more productive than average performers. - Certain individuals may possess unique skills, talents, and work habits that allow them to achieve remarkable performance. - Some people claim to have personally encountered 10x engineers who have revolutionized the way they work. Here are arguments against: - The definition of a 10x engineer is subjective and can vary depending on the context and industry. - It is difficult to accurately measure and compare the productivity of individual engineers. - The impact of a single engineer may depend on various factors such as team dynamics, project complexity, and external circumstances. - Some argue that it is unfair to label certain individuals as "10x" as it can create an unhealthy culture of comparison and unrealistic expectations. Regardless of whether you ever encountered one or not, believe in neutrals or putting in 10K+ hours, know how to measure engineering productivity or not, there are a few things that I observed highest-performing engineers do: - They always have a plan. They readily give estimates of efforts different options will take. - Having or not having a plan momentarily, they are biased to action, e.g. “I do not know what it will take in the end, but in 1 week I can have a POC that can educate us”. - They do not implement things 10x faster but they do 10x extra things. Anecdotal story, I know an engineer who glances over PRs created by all other 80 engineers. - Another observation, they always learn and try something new. They do it fast, e.g. another engineer watches the educating videos on 1.5x or 2x speed. I have certainly had experience with engineers who were providing 10x+ more value to the company than others. However, I also believe it is not fair to compare engineers in this way, as their contributions heavily depend on the specific context and circumstances. Interesting to learn more on this…
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It was great to work with Lemuel Toledo, Olivier Hepner,and their product&engineering team to bring amazing Rebag product to thredUP's customers and convenience of our RaaS Take-back service to Rebag's customers.
We're thrilled to announce our partnership with thredUP! As trusted resale leaders, we’re committed to helping our customers buy and sell sustainably. That’s why we’ve joined forces to make it easy to both earn Rebag Credit when selling to thredUP AND to shop an exclusive edit of Rebag-approved pieces directly on thredup.com. Head to WWD to learn more! https://lnkd.in/gHZDRQ9X
EXCLUSIVE: Rebag and ThredUp Embark on Partnership
https://wwd.com
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This is great opportunity for those who want to understand and to work in the core of marketplaces!
We're growing our Revenue Team and are on the hunt for two innovative Applied Scientists. This is a unique opportunity to tackle some of the most captivating and complex challenges in our marketplace. If you're passionate about making a tangible impact and thrive in a collaborative, inclusive, empowering team culture, I would love to hear from you!
Jobs at thredUP | thredUP Careers
thredup.com
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I’m happy to share that I’m starting a new position as VP of Engineering at thredUP!
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VP, Engineering
2moFinally, you watched the show ;)