Summary of "Founder of StockX & Fanatics Collectibles | Josh Luber's Bold New Venture" – The GaryVee Audio Experience

In this engaging episode of The GaryVee Audio Experience, host Gary Vaynerchuk sits down with Josh Luber, the visionary co-founder of StockX and Fanatics Collectibles, to delve into his latest entrepreneurial venture, Ghostwrite. The conversation explores Josh's journey through the collectibles market, the evolution of his businesses, and his insights into the future of collecting as a cultural phenomenon.

1. Introduction and Entrepreneurial Beginnings

Timestamp: [00:00 - 03:23]

The episode kicks off with Mike from Team GaryVee providing an overview, introducing Josh Luber as a key figure in the collectibles industry. Gary emphasizes the significance of Josh's new venture, Ghostwrite, highlighting the shift in societal conversations towards collectibles.

Gary Vaynerchuk: "Collecting is the most human truth...it's forever." ([02:15])

Josh reflects on their first meeting in a crowded New York diner when he was about to launch StockX. Their shared passion for collectibles laid the foundation for a strong professional and personal relationship.

2. The Rise of Collectibles in Modern Culture

Timestamp: [03:23 - 07:50]

Gary and Josh discuss the transformation of collectibles from niche interests to mainstream cultural staples. Gary envisions a future where discussions at social gatherings naturally include topics about collections, akin to conversations about movies or restaurants.

Gary Vaynerchuk: "We're within the next decade in a place where...I just picked up a Spider-Man, first appearance of Carnage." ([04:30])

Josh concurs, emphasizing that collectibles have "crossed the chasm" and are now integral to broader cultural dialogues. He highlights the shift from traditional high-value antiques to accessible, culturally relevant items like sneakers and trading cards.

3. Building StockX: A Revolutionary Marketplace

Timestamp: [07:50 - 09:34]

Josh recounts the inception of StockX in 2015, inspired by moments like the Galaxy phone drop in 2012. StockX was born out of a need to bring transparency and efficiency to the resale market for sneakers and other collectibles.

Josh Luber: "StockX started with sneakers and trading cards, products I've collected all my life." ([08:03])

He credits timing and personal passion as critical factors in StockX's success, positioning it as a pivotal platform in the hype economy.

4. Transition to Fanatics Collectibles

Timestamp: [09:34 - 11:31]

In 2020, Josh transitioned from StockX to co-found Fanatics Collectibles alongside Michael Rubin. This move marked a shift towards a more expansive and license-driven collectibles business. Josh describes Fanatics Collectibles as a $10 billion company built in a year, emphasizing its rapid growth and market dominance.

Josh Luber: "Fanatics Collectibles is bigger, faster, crazier by every metric." ([09:34])

He underscores the difference in leadership style between his roles at StockX and Fanatics, highlighting a seamless partnership with Rubin that allowed for dynamic scaling.

5. Introducing Ghostwrite: A Blank Canvas Brand

Timestamp: [12:35 - 27:01]

Concept and Vision Josh unveils Ghostwrite, a collectible toy brand he terms a "blank canvas brand." Inspired by Bear Brick, Ghostwrite's core product, the Ghost, is a gender-neutral, character-less figure that serves as a canvas for diverse collaborations.

Josh Luber: "Ghostwrite is about the ethos of the brand...these are products that tell other people's stories." ([14:47])

Product Features and Collaborations Ghostwrite offers customizable collectibles that can feature designs from various brands and artists. The first series includes collaborations with the NBA, Eastside Golf, Rocky’s Matcha, and an upcoming WNBA set.

Josh Luber: "It's pure blank canvas...the shape is the IP." ([14:25])

Production and Release Strategy The release strategy employs a "blind Dutch auction," a model Josh perfected with StockX. This approach maintains hype and ensures fair distribution among collectors. Ghostwrite's initial release includes 900 cases, each containing 12 blind boxes, ensuring exclusivity and high demand.

Josh Luber: "Ghostwrite products have resale value...they are supply and demand-driven." ([14:12])

6. Live Demonstration: Unboxing Ghostwrite Products

Timestamp: [27:01 - 36:45]

Gary and Josh engage in a live unboxing session, showcasing Ghostwrite's meticulously designed products. Each Ghost features unique elements tied to their collaborations, such as player jerseys and notable events.

Gary Vaynerchuk: "These are like the LVMH of that experience." ([24:43])

They reveal various parallels within the Ghosts, including special editions like the "Victory" and "Game Face" designs. The live opening emphasizes the brand's commitment to quality and storytelling, with Josh explaining the thought process behind each design and partnership.

Josh Luber: "Ghosts tell stories...we get to tell all the most interesting stories." ([17:03])

The session highlights the scarcity and collectibility of the products, with limited runs and unique attributes driving their desirability.

7. The Future of Collectibles and Market Insights

Timestamp: [36:45 - 31:56]

Gary and Josh explore the current state of the collectibles market, discussing trends, demand drivers, and future opportunities. They emphasize the importance of cultural relevance and the ability to adapt to changing consumer interests.

Josh Luber: "It's just supply and demand and you have these other characters...that have tremendous demand and cultural relevance." ([31:40])

Josh predicts continued growth in the collectibles space, driven by innovation in product design and strategic partnerships across various industries.

8. Overcoming Challenges and Sustaining Growth

Timestamp: [28:06 - 36:45]

When discussing entrepreneurial challenges, Josh remains optimistic, focusing on his support system and the dedicated team that has followed him through his ventures. He emphasizes the importance of passion and collective buy-in in navigating the complexities of scaling a business.

Josh Luber: "I want to do this for them as much as for anyone." ([28:12])

Gary echoes these sentiments, highlighting the significance of relentless pursuit and adaptability in entrepreneurship.

9. Concluding Thoughts and Future Endeavors

Timestamp: [36:45 - End]

As the episode winds down, Gary expresses his enthusiasm for Ghostwrite, recognizing its potential to revolutionize the collectibles market. He encourages listeners to explore Ghostwrite, especially those with an interest in collectible toys and the WNBA.

Gary Vaynerchuk: "If you're into collectibles...for all the dads and moms that have little girls...this is just like a super duper, duper elevated blind bag toy play." ([35:59])

Josh concludes by reaffirming his commitment to storytelling through collectibles and his excitement for Ghostwrite's journey ahead.

Notable Quotes with Timestamps

• Gary Vaynerchuk: "Collecting is the most human truth...it's forever." ([02:15])

• Josh Luber: "StockX started with sneakers and trading cards, products I've collected all my life." ([08:03])

• Gary Vaynerchuk: "We're within the next decade in a place where...I just picked up a Spider-Man, first appearance of Carnage." ([04:30])

• Josh Luber: "Fanatics Collectibles is bigger, faster, crazier by every metric." ([09:34])

• Gary Vaynerchuk: "These are like the LVMH of that experience." ([24:43])

• Josh Luber: "Ghosts tell stories...we get to tell all the most interesting stories." ([17:03])

• Gary Vaynerchuk: "If you're into collectibles...for all the dads and moms that have little girls...this is just like a super duper, duper elevated blind bag toy play." ([35:59])

Key Takeaways

• Evolution of Collectibles: Collecting has transitioned from a hobby to a mainstream cultural phenomenon, with significant implications for social interactions and consumer behavior.

• Entrepreneurial Insight: Josh Luber's journey from StockX to Fanatics Collectibles, and now Ghostwrite, exemplifies strategic scaling and adaptation within the collectibles market.

• Ghostwrite's Innovation: By introducing a blank canvas approach, Ghostwrite allows for diverse and dynamic collaborations, fostering a rich narrative for each collectible.

• Community and Engagement: The use of blind Dutch auctions and limited releases enhances collectibility and community engagement, ensuring sustained interest and value.

• Future Outlook: The collectibles market is poised for continued growth, driven by cultural relevance, innovative product design, and strategic partnerships.

For entrepreneurs, collectors, and enthusiasts alike, this episode offers valuable insights into the booming collectibles industry and exemplifies how passion-driven businesses can shape and redefine cultural trends.