Panic with Friends - Howard Lindzon
Description
It’s 2022 and the memes will go on, but hopefully investors will get wiser and smarter. But a world in which energy is the best performing asset bores the hell out of me, so I decided to bring Justin Reis of Watchbox back for a second round of Panic. He’s quickly becoming one of my favorite guests. I’ve long been fascinated by all things watches, and Justin is my go-to expert on buying, selling, and trading pre-owned luxury watches. I hope you enjoy our chat on creating value through the power of community and passion.
(Full disclosure: Social Leverage is an investor in Watchbox through a single purpose vehicle.)
Guest - Justin Reis, Co-Founder and Global CEO at WatchBox
howardlindzon.com, thewatchbox.com
Twitter: @PanicwFriends, @howardlindzon, @watchbox_global, @knutjensen
linkedin.com/in/justin-reis-633925188
#fintech #invest #investment #venturecapital #stockmarket #finance
Show Notes:
(00:11) – Show intro
(03:16) – Introducing Justin
(04:23) – The macro environment
(06:05) – Changes in market conditions
(06:56) – Average selling prices on Watchbox
(10:06) – Bringing liquidity through a store of value
(11:16) – Leveraging Brand Equity
(13:19) – Building trust through community
(16:34) – The pop-up model meets high-end retail
(17:43) – Customer retention and building loyalty
(26:11) – Looking at the underlying trends
(28:45) – It isn't fun if you can't share the passion
(30:16) – Size of the primary and secondary watch market
(33:10) – The best watch for the beginning collector
(35:02) – Howard's home address and safe combination
(36:50) – Limited production timepieces
(39:01) – Pros and cons of running a public company
(40:13) – Your mom probably listens to Panic with Friends
(43:03) – The value creation inherent in community
(44:06) – Closing thoughts