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Benjamin Lauzier has been building and scaling marketplaces for almost 15 years. He was the VP of product and growth at Thumbtack, where he rebuilt the product team and Thumbtack\u2019s growth levers, re-architected their revenue model, and helped double the company\u2019s growth within three years. Prior to Thumbtack, Ben was at Lyft for six years, where he led the supply side of the product organization to a point where 1% of U.S. workers were driving for Lyft every month. Currently, he advises marketplace teams and founders, teaches a Reforge course on marketplace growth, and has recently launched a health tech company called Nurra, which connects users with care advocates to navigate the health-care system. In our conversation, we cover:

\u2022 What defines a marketplace business

\u2022 Strategies for growing supply and demand in the early stages

\u2022 How to measure liquidity and other marketplace health metrics

\u2022 How to evaluate if a marketplace model is right for your idea

\u2022 Lessons from Lyft, Thumbtack, and other successful marketplaces

\u2022 The differences between product management in the U.S. and Europe

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Find the transcript and show notes at: https://www.lennysnewsletter.com/p/how-marketplaces-win-benjamin-lauzier

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Where to find Benjamin Lauzier:

\u2022 LinkedIn: https://www.linkedin.com/in/benjaminlauzier/

\u2022 Ben\u2019s Reforge course: https://www.reforge.com/courses/marketplace-growth/details

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Where to find Lenny:

\u2022 Newsletter: https://www.lennysnewsletter.com

\u2022 X: https://twitter.com/lennysan

\u2022 LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Ben\u2019s background

(02:24) Defining a marketplace

(07:52) Challenges in building a marketplace

(13:28) Methods for growing supply

(15:57) Understanding marketplace liquidity

(21:36) Identifying product-market fit in marketplaces

(24:10) Evaluating marketplace business models

(27:20) Common pitfalls and failures in marketplaces

(36:23) Managed marketplaces and quality control

(42:26) Lyft\u2019s rental car initiative

(46:35) Mentorship and ambassador programs

(51:21) Driver recruitment strategies

(54:12) Lyft vs. Uber: a strategic analysis

(59:24) Cultural differences in tech: Europe vs. U.S.

(01:10:30) Building a health advocacy platform

(01:16:52) Lightning round and final thoughts

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.