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theSamParr's profile
Sam Parr ⚪️
Sam Parr ⚪️
Sam Parr  ⚪️
@theSamParr

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Sam Parr  ⚪️

@theSamParr

Love motorcycles and dogs. CEO of The Hustle. Internet entrepreneur and investor. Always scheming. ya, check mark is a joke

San Francisco
thehustle.co
Joined July 2012

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    1. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      Here's something: You know Michelin Stars? Like the things that tell you if a restaurant is fancy or not? Ever wonder why the tire company logo is on there? Here's why. It's a good story.pic.twitter.com/peVBMH5ID8

      9 replies 20 retweets 83 likes
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    2. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      In 1900, there were fewer than 3,000 cars on the roads of France. To increase the demand for cars and thus car tires, car tire manufacturers and brothers Édouard and André Michelin aka the Michelin Tire company, published a guide for French motorists, the Michelin Guide.pic.twitter.com/diTjUsxdHF

      1 reply 0 retweets 9 likes
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    3. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      Nearly 35,000 copies of this first, free edition of the guide were distributed. It provided useful information to motorists, such as maps, tire repair and replacement instructions, car mechanics listings, hotels, and petrol stations throughout France.pic.twitter.com/0nkvMzvYCA

      1 reply 0 retweets 6 likes
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    4. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      Four years later, in 1904, the brothers published a guide for Belgium. And then other cities. Soon, based on the principle that "man only truly respects what he pays for", Michelin decided to charge a price for the guide, which was about 750 francs or $2.15 in 1922.pic.twitter.com/CxtDXrTBPE

      1 reply 0 retweets 7 likes
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    5. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      Recognizing the growing popularity of the restaurant section of the guide, the brothers recruited a team of inspectors to visit and review restaurants, who were always anonymous. They then gave stars to rate some of the restaurants.

      1 reply 0 retweets 6 likes
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    6. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      By 1950 the French edition gave 38 restaurant stars. The first Michelin Guide to Italy was published in 1956. It awarded no stars in the first edition. In 1974, the first guide to Britain since 1931 was published. Twenty-five stars were awarded

      1 reply 0 retweets 5 likes
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    7. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      How do they come up with the stars? Michelin has anonymous reviewers. They do not identify themselves, and their meals and expenses are paid for by Michelin, never by a restaurant being reviewed.

      1 reply 0 retweets 8 likes
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    8. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      The stars stand for: 1 star : "A very good restaurant in its category" 2 stars : "Excellent cooking, worth a detour" 3 stars: "Exceptional cuisine, worth a special journey" See how it's car related?

      1 reply 0 retweets 9 likes
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    9. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      The Michelin tire company still makes the guide. Its paid with tire profits. But also different governments pay to host Michelin reviewers in their country in hopes of getting reviewed. Obviously, this business model can be tricky. But they've done a great job of staying legit

      1 reply 0 retweets 8 likes
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    10. Sam Parr  ⚪️‏ @theSamParr Apr 9
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      These types of business models fascinate me: reviewing things. Other examples are JD Power and Gartner. On Trends (http://trends.co ) we'll be discussing this business model. We'll break down how it works so you can make one for your industry

      1 reply 1 retweet 17 likes
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      Sam Parr  ⚪️‏ @theSamParr Apr 9
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      Let me know if you want more stuff like this and which industries we should cover!

      3:40 PM - 9 Apr 2020
      • 29 Likes
      • DueDash Ebox00 Joe Speiser Jaap Vergote rudy Michael F. Lee, Jr. Rod Finlayson Bob Tom Allison
      5 replies 0 retweets 29 likes
        1.  ▪️ Tony Ferrara  ▪️‏ @tonyoldboy Apr 9
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          Replying to @theSamParr

          Vacation rentals (ouch) but I like what @plumguide is doing - they also are a booking platform

          0 replies 0 retweets 0 likes
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        1. Omar Bohsali‏ @omarish Apr 9
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          Replying to @theSamParr

          Reminds me of this post:https://priceonomics.com/why-does-a-tire-company-publish-the-michelin-guide/ …

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        1. 𝘼𝙡𝙚𝙭 𝙈𝙪𝙡𝙝𝙚𝙖𝙧𝙣‏ @alexmulhearn Apr 9
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          Replying to @theSamParr

          Not necessarily review related, but another brand-adjunct property: Guinness Book of World Records and Guinness Beer! Not owned by Guinness anymore though 😔

          0 replies 0 retweets 1 like
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        1. Henry Johnson‏ @TalktoHenryJ Apr 9
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          Replying to @theSamParr

          I think it would be interesting to hear profiles of people. I know you’re interested in biographies so kind of down that lane but narrative audio. An example could be the French billionaire you and @ShaanVP spoke about on the podcast not too long ago.

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        1. Steve Schlecht‏ @SteveSchlecht Apr 9
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          Replying to @theSamParr

          Fascinating story. Yes, pump out more stories like this. I think this business model is very relatable and accessible to a majority of entrepreneurs.

          0 replies 0 retweets 2 likes
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