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Fab.com has had a rough few months, what with the massive rounds of layoffs (including cuts to upper management) and its co-founder leaving and such. Today, site CEO Jason Goldberg took to his personal blog to explain how things went so awry and how he plans to right the ship. After starting things off with a Coldplay quote, he goes on to say that running a start-up is hard, that being a CEO is lonely, and that he's learned a bunch of things, including such gems as don't talk to the press so much and be in the office more. But, as he explains, the real light-bulb moment that he missed was when Fab—a company that he and Bradford Shellhammer had tried to position as a source of great design—began selling steaks.
As Goldberg blogs:
The Fab mission is to brighten people's lives with design. In our pursuit of growth though we lost sight of that mission and the Fab mission became just selling a lot of stuff.Meanwhile, Tech EU (via The Verge), reports that Fab is majorly slimming down its European operations, and will only sell its custom furniture oversees, eliminating sales of all other design items.
It reminds me of the bit in Howard Schultz' autobiography when he walked into a Starbucks one day and said to himself: "This doesn't smell like a Starbucks, it smells like food. A Starbucks is supposed to smell like coffee." He vowed to return Starbucks to its core mission and smell the coffee again. (The analogy to Fab is not all that off. I should have known we were headed down the wrong path when we had a weekly butcher shop selling steaks on Fab. Brighten lives with design = steaks? Doh!)
· Betashop Quarterly. Volume 1. January 2014. [Betashop]
· Fab.com Expects More Pink Slips This Week [Racked]
· Fab Co-Founder Stepped Down After Major Lay-Offs [Racked]
· Fab's Flash Sale Workers Got the Pink Slip Today [Racked]