Livible CEO and Founder, Terry Drayton Talks About Self-Storage Disruptive Innovation at the Self-Storage Association, Spring Show 2016
Hello, my name is Terry Drayton and I’m the founder & CEO of Livible. This is my 9th startup. I’ve raised over half a billion dollars for them and created a number of successful, world class businesses. All were logistics and technology innovators.
Livible provides on demand storage, also known as valet storage or full service storage. We’re a classic disruptor. Simpler to use via 2 minutes on our app. More convenient as we go right to the customers’ door. Already cheaper for urban customers with smaller needs. And long term we’ll be cheaper for all customers due to warehouse economics.
So are we a threat to self-storage? Absolutely. Some of the smartest people in your industry see us as Netflix and you as Blockbuster. What you may not know is that Blockbuster blew several early opportunities to work with Netflix. At the time Blockbuster was recording record profits and very complacent, actually dismissive, of upstarts. Does that sound familiar? A few years later they were bankrupt and Netflix was worth billions.
A more optimistic analogy is AT&T. They were dominant in fixed line and pay phones but saw mobile coming and moved aggressively to embrace it. Now they are all about mobile with data their newest growth area. And they are still worth
So we’re a threat but we’re an even bigger opportunity for smart incumbents! Let’s start by asking you one question: Are you in the storage business or in the self-storage business?
If you answer the former then we have a lot to talk about. And, unlike the other on demand players, we respect your businesses and want to partner with you to help you participate in the coming disruption. Our model is very straight forward. First, you start offering both self-storage and on demand storage to all your prospects and customers. Second, we store everything at your facilities. Third, we operate the logistics and provide all the technology. It’s a win-win!