Great post, I had never heard about Yoobi before so glad you chose it. This business model is definitely an admirable one, and as you mentioned, has proven successful for companies like TOMS and Warby Parker. My first question was clarification around the margin profile of these items. You mentioned the high quality of the products allows for them to retail high enough to allow a margin on two such products, is any of this margin erosion being burdened by the retailers? If so, do you consider this a hurdle to overcome to get more retailers on board to distribute the products? Or do you see Yoobi continuing to partner with a limited number of retailers?
Great post Jacob! Having worked for two pure advisory firms as well, I think the benefits of the model from a no conflicts of interest perspective make sense. The issue my firms commonly dealt with was the perception that they lacked the right relationships, which many of the larger firms are assumed to have, which were crucial to winning mandates, particularly the larger fee ones you mentioned. I’m curious if Greenhill had well regarded senior advisors and bankers in order to combat this or did the firm rely more on industry or situation/transaction expertise?