Marc Lore, the founder of Diapers.com and Jet.com, recounts his entrepreneurial journey, highlighting key decisions and challenges in building and selling his companies. He details the initial struggles of Diapers.com, including buying diapers at full price from wholesale clubs and the strategic decision to use diapers as a loss leader to drive sales of higher-margin baby products. Lore also discusses competing with Amazon, who threatened to drop diaper prices to zero, leading to Diapers.com's acquisition. Later, Lore created Jet.com, aiming to offer lower prices through supply chain efficiencies, and eventually sold it to Walmart. He emphasizes the importance of company culture, values, and trusting employees, as well as the transition from a "mercenary" to a "missionary" mindset in his career.
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