RB

Rich Barton

04/18/25

@ Tim Ferriss

On the day of Expedia's IPO, my son was born, and I jokingly promised the team I would name him Expedia if that happened.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I love to observe magic in product design, and I experienced a seamless connection between my computer and iPad that felt like magic.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I prefer CNBC for business news because it generally has a positive tone, unlike regular news which often makes me feel bad.

RB

Rich Barton

04/18/25

@ Tim Ferriss

My morning routine includes getting up at 6:30 a.m. and spending the first couple of hours catching up on news and emails while enjoying a smoothie.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I make a smoothie every morning with oat milk, an apple, pistachios, macadamia nuts, blueberries, and a prune to keep things moving.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I use a product called Venom from Hyper Ice that heats and vibrates, which helps loosen up my body before workouts.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I believe that pushing too hard for longevity can be counterproductive; sometimes, less is more when it comes to health practices.

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Rich Barton

04/18/25

@ Tim Ferriss

My first real boss, Brad Chase at Microsoft, encouraged me to take big swings and supported me even when my ideas failed.

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Rich Barton

04/18/25

@ Tim Ferriss

I learned that the culture at Microsoft encouraged innovation and big ideas, which is crucial for fostering creativity in a company.

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Rich Barton

04/18/25

@ Tim Ferriss

Expedia started as a venture within Microsoft, and I left the operating system group to pursue it because of my wife's medical residency requirements.

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Rich Barton

04/18/25

@ Tim Ferriss

I pitched the idea of Expedia as a consumer-focused travel software company, emphasizing that it should prioritize travel over software.

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Rich Barton

04/18/25

@ Tim Ferriss

I asked for $100 million for a television advertising campaign for Expedia, believing we could build the biggest brand in travel.

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Rich Barton

04/18/25

@ Tim Ferriss

Spinning a company out from a larger corporation can unlock value that is not being recognized by shareholders, as it allows the new entity to attract its own investor base.

RB

Rich Barton

04/18/25

@ Tim Ferriss

When a company is part of a conglomerate, it often suffers from a conglomerate discount, where the individual businesses are valued less than if they were standalone entities.

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Rich Barton

04/18/25

@ Tim Ferriss

I pitched the spin-out of Expedia as an HR experiment to retain talent, as Microsoft was so large that many talented individuals could hide away and not contribute meaningfully.

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Rich Barton

04/18/25

@ Tim Ferriss

We took 150 people from Microsoft to join Expedia, and almost all of them chose to take the adventure, which was a testament to the opportunity we presented.

RB

Rich Barton

04/18/25

@ Tim Ferriss

The hardest part of recruiting for Expedia was convincing the spouses of potential hires, as they were often the most skeptical about the risks involved.

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Rich Barton

04/18/25

@ Tim Ferriss

Expedia was profitable and growing rapidly, which made it a successful business even during the dot-com crash, unlike Microsoft, which took years to recover.

RB

Rich Barton

04/18/25

@ Tim Ferriss

The highest highs during my career were around the spin-out and IPO of Expedia, especially the moment my son was born on the same day as the IPO.

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Rich Barton

04/18/25

@ Tim Ferriss

We aimed to empower consumers in the real estate market just as we did in the travel industry, by making information accessible and transparent.

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Rich Barton

04/18/25

@ Tim Ferriss

The idea for Zillow emerged from recognizing the lack of transparency in the real estate market, where basic information like home prices was hard to find online.

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Rich Barton

04/18/25

@ Tim Ferriss

The criteria for pursuing new business ideas include identifying significant problems that consumers face, which can lead to substantial business opportunities.

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Rich Barton

04/18/25

@ Tim Ferriss

I knew there would inevitably be a leading digital real estate marketplace in the US, and I wanted to be part of creating that solution.

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Rich Barton

04/18/25

@ Tim Ferriss

My business criteria for new ventures is to ensure there is a large market and capable competitors, as this indicates a viable opportunity for success.

RB

Rich Barton

04/18/25

@ Tim Ferriss

We were enamored of auctions, believing the US housing market should operate on an auction basis for efficient price discovery, but we learned that a real-time liquid market is necessary for auctions to work, which the housing market lacks.

RB

Rich Barton

04/18/25

@ Tim Ferriss

If you have to educate your customer on how to buy something in a radically new way, it’s a heavy lift; it must be super simple, obvious, and significantly better than the current method, which we failed to achieve initially.

RB

Rich Barton

04/18/25

@ Tim Ferriss

In pursuit of price discovery, we discovered the Zestimate, which became our killer feature, providing real-time estimated values for homes, akin to a stock chart, appealing to homeowners who care deeply about their largest asset.

RB

Rich Barton

04/18/25

@ Tim Ferriss

When we launched Zillow, millions of users flocked to the site due to positive press from influential tech journalist Walt Mossberg, but our server crashed under the traffic, leading to a memorable headline about our popularity.

RB

Rich Barton

04/18/25

@ Tim Ferriss

I believe the product is the most important part of the marketing mix; when we launched Zillow, we focused on creating a provocative feature that would generate discussion and interest.

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Rich Barton

04/18/25

@ Tim Ferriss

Provocation marketing involves creating features that evoke strong emotional responses, ensuring that people will talk about them, which can be a powerful tool for brand awareness.

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Rich Barton

04/18/25

@ Tim Ferriss

At Zillow, we built a PR data distribution infrastructure to feed local newspapers with housing data, capitalizing on the constant demand for housing news, which helped establish our brand without spending on traditional advertising.

RB

Rich Barton

04/18/25

@ Tim Ferriss

We faced significant regulatory resistance from real estate associations, but we activated support from state legislators who were fans of our service, which helped us overcome opposition.

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Rich Barton

04/18/25

@ Tim Ferriss

Our strategy to combat regulatory resistance involved highlighting the product's benefits to legislators, ensuring they understood that our service was the future of real estate.

RB

Rich Barton

04/18/25

@ Tim Ferriss

Building a strong brand that customers know and love is crucial; it allows you to source most of your traffic directly, reducing dependency on platforms like Google.

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Rich Barton

04/18/25

@ Tim Ferriss

Zillow's long-term strategy is to create a super app that integrates all aspects of renting and buying homes, embedding ourselves in the workflow to solve real customer problems.

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Rich Barton

04/18/25

@ Tim Ferriss

When naming companies, I prefer to create unique words that are distinctive and memorable, as they allow for brand ownership and can evoke positive associations.

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Rich Barton

04/18/25

@ Tim Ferriss

Using rare letters in a brand name makes it distinctive and memorable; I often incorporate letters like Z and X for their uniqueness.

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Rich Barton

04/18/25

@ Tim Ferriss

I believe fewer syllables are better for brand names; two-syllable names are ideal because they are easier to remember and can serve as good dog names, which is a fun consideration.

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Rich Barton

04/18/25

@ Tim Ferriss

The name Glassdoor was chosen for its evocative nature, representing transparency and insight into company culture, which resonates with our mission.

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Rich Barton

04/18/25

@ Tim Ferriss

Provocation marketing should incite an emotional response without scaring people, as fear is a cheap way to get attention but doesn't foster a positive brand experience.

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Rich Barton

04/18/25

@ Tim Ferriss

When building a brand, it's important to provoke thought and entertain rather than scare, ensuring that the audience feels good about the engagement.

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Rich Barton

04/18/25

@ Tim Ferriss

A good board should consist of experienced individuals who are engaged and can help guide the company, especially during fundraising and strategic decisions.

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Rich Barton

04/18/25

@ Tim Ferriss

After a health scare in my family, I reassessed my priorities and realized the importance of self-care for long-term sustainability.

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Rich Barton

04/18/25

@ Tim Ferriss

I prioritize my family's health and my own, as they are essential to maintaining a balanced and fulfilling life.

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Rich Barton

04/18/25

@ Tim Ferriss

I believe in cultivating leadership through absence; taking a two-week disconnected trip allows teams to develop their own systems and leadership skills.

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Rich Barton

04/18/25

@ Tim Ferriss

The best way to develop leaders is to allow them to take responsibility and make decisions, even if it means they might fail at times.

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Rich Barton

04/18/25

@ Tim Ferriss

Surrounding yourself with capable and caring people is essential for leveraging opportunities in both business and personal life.

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Rich Barton

04/18/25

@ Tim Ferriss

I recommend asking candidates about their interests during interviews to gauge their passion and ensure they align with the company's mission.

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Rich Barton

04/18/25

@ Tim Ferriss

It's crucial to be willing to fire underperforming team members quickly, as holding onto them too long can hinder the team's overall performance.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

You can increase love in the world by helping someone find where they truly belong, which will make both of you happier.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

When making a difficult decision, align interests with the other person to ensure a partnership, which makes the process easier and more humane.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

In conversations about difficult topics, it's important to be sympathetic and non-argumentative, allowing people to express their feelings and be heard.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

Asking for feedback during exit interviews can provide valuable insights for both the individual and the organization.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

The first month after hiring is a great time to gather observations from new employees, as they can offer fresh perspectives before being fully integrated into the company culture.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

My family tattoo symbolizes our bond, designed collaboratively to represent each member uniquely while maintaining a cohesive theme.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

There's never a perfect time to start a family; waiting for the right moment often leads to missed opportunities.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

Having children can significantly broaden your perspective and help you realize that your own needs and wants are trivial compared to the responsibilities of parenthood.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

Post-pandemic, I believe in the benefits of distributed workforces, which have allowed for more inclusive and flexible work environments.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

If I feel like I might ignite, I probably won't; this mindset helps reduce unnecessary panic and fear in daily life.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

As a leader, my role is to help people manage their fears and anxieties, reminding them that most situations will turn out fine.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

Meditation and disconnecting from constant digital stimulation are increasingly important for mental well-being in today's fast-paced world.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

Disconnection from digital devices is essential for mental health, and taking breaks can lead to happier, more engaged interactions with family and friends.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

I encourage people to take breaks from technology and engage in activities that foster creativity and connection, like crafting or playing games.

TF

Tim Ferriss Cast

04/18/25

@ Tim Ferriss

I appreciate the service you provide through your podcast, helping people lead better and more fulfilling lives.

How Rich Barton Built Expedia and Zillow — Audacious Goals, Provocation Marketing, and More

Takeaways