Sean Dollinger joined The Mentor with Mark Bouris to talk about his business, Namaste Technologies, which is the world’s largest e-commerce platform dedicated to selling cannabis products.
He talked about the way Namaste has been set up to be a platform that owns very minimal products themselves.
“If I asked you largest real estate company in the world today, it doesn’t own any real estate and that’s Airbnb; and the largest transportation company doesn’t own a car and that’s Uber,” Sean said.
“And that’s what Namaste is, because we can adapt extremely quickly, which is important because if you’re in brick and mortar you can’t change things quickly.”
When it comes to being able to move and make decisions quickly, Sean said that’s a huge benefit in owning the platform and not the product.
“If Hilton, for example, wants to add a new hotel to their network, if they’re buying it takes months, or building it takes years - where Airbnb can add a condo in 10 minutes because it’s already built and someone is adding it to the platform.”