You Can't Innovate The Market Without Listening to it First | GaryVee Audio Experience: David Metz | Summary and Q&A

TL;DR

In this 15-minute podcast blitz, Gary Vaynerchuk interviews Dave Metz, CEO and co-founder of Prizeout, discussing his journey from creating a physical board game to building a successful fintech company.

Key Insights

• 👾 Taking the journey from a physical board game to disrupting the fintech industry is a unique and fascinating story.
• 🚀 Learning from previous experiences and appreciating the difficulties faced along the way is crucial for success in building a rocket ship business.
• 🤩 Hiring the right people, avoiding drama, and creating a meritocracy are key to building a strong team.

Transcript

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Questions & Answers

Q: How did Dave Metz's background in creating a physical board game contribute to the development of Prizeout?

Creating a physical board game allowed Metz to understand the process of product development and to gather valuable feedback, ultimately leading to the creation of a mobile game and, eventually, Prizeout.

Q: What is Dave Metz's philosophy on hiring?

Metz emphasizes the importance of avoiding drama and entitlement when hiring, creating a meritocracy, and being highly selective in order to build a strong team.

Q: What are some leadership qualities that Dave Metz admires and wants to improve upon?

Metz admires self-awareness and humility in leaders and acknowledges the need to surround himself with individuals who complement his weaknesses.

Q: What fascinates Dave Metz about consumer behavior?

Metz is fascinated by the different purchasing behaviors of users based on the industries they come from when using Prizeout's gift card withdrawal option, with some seeking luxury items and others focusing on utility.

Summary & Key Takeaways

• Dave Metz shares his entrepreneurial journey, from working at his parents' irrigation company to launching a successful board game and trivia app before starting Prizeout.

• Prizeout was born out of the realization that brands were acquiring users through gift card withdrawals, which led Metz to create a platform for offering gift cards as a withdrawal option.

• Metz highlights the importance of learning from previous experiences and appreciating the challenges faced in order to navigate the growth of a rocket ship business.