Neil Mehta

FedEx famously never wants a driver to take the left turn because it takes a little bit more time. It was like that kind of optimization. It was infrastructure. It was building warehouses that were the size of football fields in place that doesn't have a lot of space, by the way, in Korea.

FedEx famously never wants a driver to take the left turn because it takes a little bit more time. It was like that kind of optimization. It was infrastructure. It was building warehouses that were the size of football fields in place that doesn't have a lot of space, by the way, in Korea.

It was building delivery camps and it was building localized distribution points where you have thousands of apartments to be able to make sure you could have even people run up and down the apartment to deliver something. It was making sure that you had the right packaging so that didn't get stuck with lots and lots of boxes.

It was building delivery camps and it was building localized distribution points where you have thousands of apartments to be able to make sure you could have even people run up and down the apartment to deliver something. It was making sure that you had the right packaging so that didn't get stuck with lots and lots of boxes.

It came down to where do you leave it outside someone's door so you don't wake them up when you deliver it at 6 a.m. to make sure it's safe. When you add all those things together, actually, the way we came up with the term is BOM would show us, you'd see in the cohort behavior, average retention pre-1P delivery was probably in the 30s overall for the market, not for Coupang specifically.

It came down to where do you leave it outside someone's door so you don't wake them up when you deliver it at 6 a.m. to make sure it's safe. When you add all those things together, actually, the way we came up with the term is BOM would show us, you'd see in the cohort behavior, average retention pre-1P delivery was probably in the 30s overall for the market, not for Coupang specifically.

Coupang for Rocket, which was eventually called Rocket through 1P capability was in the 60s on a core retention basis. So it was clearly working, but that wasn't the coolest part about it. The coolest part is when we would ask customers about their experience. We do these video recordings and Coupang will do them as well. I remember multiple of the videos, the woman was crying.

Coupang for Rocket, which was eventually called Rocket through 1P capability was in the 60s on a core retention basis. So it was clearly working, but that wasn't the coolest part about it. The coolest part is when we would ask customers about their experience. We do these video recordings and Coupang will do them as well. I remember multiple of the videos, the woman was crying.

The mom of the house was crying because the diapers were showing up the morning of and she didn't have to carry these giant boxes home from the store. She's like, if you took this away from me, I don't know what I would do. Please don't take this away from me. That is not an MPS score of nine. That is a jaw dropping customer experience. That is incredible. Yeah.

The mom of the house was crying because the diapers were showing up the morning of and she didn't have to carry these giant boxes home from the store. She's like, if you took this away from me, I don't know what I would do. Please don't take this away from me. That is not an MPS score of nine. That is a jaw dropping customer experience. That is incredible. Yeah.

we think of ourselves as very long-term investors. And if you really want to understand how long, I've been on the board for about 15 years, and this is public information, just last quarter, we were buying more shares. So it tells you- More than just five of eight rounds. Yes, exactly. We're still actively investing and helping where we can in the company.

we think of ourselves as very long-term investors. And if you really want to understand how long, I've been on the board for about 15 years, and this is public information, just last quarter, we were buying more shares. So it tells you- More than just five of eight rounds. Yes, exactly. We're still actively investing and helping where we can in the company.

I consider Bomb's development of Coupang and the development of GreenOaks that I've had is they're intertwined. I mean, it was one of the first investments we made and I joined the board pretty quickly and it was a seed investment. GreenOaks is probably best known for its growth investments.

I consider Bomb's development of Coupang and the development of GreenOaks that I've had is they're intertwined. I mean, it was one of the first investments we made and I joined the board pretty quickly and it was a seed investment. GreenOaks is probably best known for its growth investments.

We'd like to lead growth rounds in companies that we think will be a meaningful part of the S&P 500 over time. When we invested in Coupang, Green Oaks barely existed. When I was telling Bon that it was Green Oaks, he's like, I've never heard of Green Oaks. And he's like, don't worry, nobody's heard of Green Oaks. This is what you're hearing about for the first time, and I just made it up.

We'd like to lead growth rounds in companies that we think will be a meaningful part of the S&P 500 over time. When we invested in Coupang, Green Oaks barely existed. When I was telling Bon that it was Green Oaks, he's like, I've never heard of Green Oaks. And he's like, don't worry, nobody's heard of Green Oaks. This is what you're hearing about for the first time, and I just made it up.

And he was kind enough to bring us in as an investor. And it's hard to start anywhere but the founder, which is in this case, Bon. And Bon, I would say there's a bunch, it's a lot of the tenants we look for in any great founder, Bon possessed right away. It starts with focus.

And he was kind enough to bring us in as an investor. And it's hard to start anywhere but the founder, which is in this case, Bon. And Bon, I would say there's a bunch, it's a lot of the tenants we look for in any great founder, Bon possessed right away. It starts with focus.

Baum had this unique ability early on to identify what was the most important thing in the company and focus all his time on that at the exclusion of everything else. Wouldn't it be unusual if you looked at Baum's calendar on a Sunday night? Everything the next week, Monday, Tuesday, Wednesday, Thursday, Friday, it would just be blocked out with one single thing he was trying to accomplish.

Baum had this unique ability early on to identify what was the most important thing in the company and focus all his time on that at the exclusion of everything else. Wouldn't it be unusual if you looked at Baum's calendar on a Sunday night? Everything the next week, Monday, Tuesday, Wednesday, Thursday, Friday, it would just be blocked out with one single thing he was trying to accomplish.