The Baker Retailing Center and Venture Lab co-hosted an engaging conversation with Marc Lore, serial entrepreneur and founder of Wonder, who shared candid reflections on his entrepreneurial journey, lessons, and his vision for the future of food and retail.
INSIGHT FROM MARC
Lore opened with a personal story about being told not to apply to Wharton because he wouldn’t get in, advice he ignored after his father pressed him to take the chance. “Most ideas I find are low possibilities of success,” he explained, “but that’s exactly why they can have the biggest upsides. I would never discount anything just because the odds are low.”
Touching on Wonder’s most difficult call, shutting down its food-truck model and restarting with brick-and-mortar kitchens, Lore discussed having to tell the board, investors, and employees that the company would take a million dollar loss and “start literally from zero revenue”. The takeaway: “Most people underestimate the risk of the status quo and overestimate the risk of change,” he said. “As an entrepreneur, you have to take risks to reduce risk.” He urged founders to fight tunnel vision and “take in new information every minute with a clean slate.”