Billion-dollar startup idea:
Car listing site with the ACTUAL prices.
This is so simple, yet it DOES NOT EXIST.
How to become a billionaire:
Build the Spirit Airlines of Cars.
Just a SIMPLE & CHEAP car.
Roll-up windows and shit. I mean for goodness sake the cheapest NEW car is like $15k.
This is a classic zig-while-they-zag moment.
Someone needs to do this.
Huge pain point for every used car dealer:
Consumer financing.
$100B+ market.
Who wants to disrupt? Some of the pain points:
- Unpredictable program changes
- Lack of real-time transparency into dealer's performance
- Lender's internal politics impact dealer relationship - Incredibly shitty technology
- Uninformed and inaccessible field representatives
- Unclear financing guidelines (some, not all)
I can keep going... From my experience, Capital One is leading the charge and has the most progressive technology.
But they don't work with many smaller dealers who have these challenges. My takeaway is that there are lots of great Founders working on this problem.
But all are working on a capital-light solution.
The real magic will be created when someone builds a vertically integrated, all-in-one solution.