#18 Richard Schwenke, Co-Founder & MD Priceloop AI | Making It Real Podcast with Jan Brinckmann

Richard Schenke is Co-Founder & MD at Priceloop AI. Prior to
Priceloop, Richard also co-founded Contorion, a fast-growing
online shop for professional industrial and trade supply. Before
becoming an entrepreneur, Richard was a Senior Consultant at
McKinsey and with a project focus on non-food retail, sales &
pricing strategy and automotive. Richard is an MIT and RWTH
Aachen graduate.





Richard Schwenke, Co-Founder & MD Priceloop AI | Making It
Real Podcast with Jan Brinckmann | Episode #18





00:00 How did you get into the entrepreneurship domain? 


01:52 Did you start your venture in parallel during your
consulting job or went all in? 


04:05 How did you find your first investors? 


06:51 The idea behind Contorion 


08:16 Getting both the supply and demand side right on a platform
model 


13:05 Evolving your venture one step at a time 


14:59 What to do if you lose money per transaction 


19:00 How merchants can bring value to suppliers 


22:03 How to set your prices right 


27:46 Advice for collecting quality data 


32:20 Filtering data for machine learning 


39:55 Exiting Contorion and starting Priceloop AI  


41:49 Richard's top 3 learnings for aspiring founders 


46:28 What do you enjoy the most about creating startups?