Announcing Fora

Back in the early spring, it felt like the world - and the broader entrepreneurial ecosystem - was reawakening. 

Vaccines were rolling out. The creator and passion economies had fully arrived. Compass (and countless other tech and tech enabled businesses) started going public at a furious pace. New company formation exploded. NYC sprung back to life. Travel plans resumed. 

The prior year was an incredibly hard time for the industry that I've worked in for many years - travel.

In 2019, the US travel industry represented approximately $1.1 trillion in spend, and over 16.5m jobs (ca. 10% of jobs in the US). In 2020 the industry lost approximately 5.6m jobs - 30% of its labor force. 

Taking the leisure category only, globally in 2019 spending was approximately $4.7 trillion - levels that halved to $2.4 trillion in 2020.

With the spring arriving, it started to feel like - as Bezos would say - a Day One moment for the industry.

There's a tremendous amount of incredibly talented people still on the sidelines in the US, seeking passion and purpose, looking for new and flexible ways to engage with work.

Against this backdrop, a new idea started to emerge.

There’s a dynamic in travel - where I’ve spent the past decade building disruptor consumer brands - not broadly appreciated from the outside. My friends and professional network are largely unaware of it. Even insiders on the periphery of the industry are surprised when I explain it.

When booking a trip - or even just a hotel for the weekend - consumers pay the same (vs. OTA, or direct) AND have a better experience (free breakfasts, room upgrades, curated & personal suggestions) when booking through a travel agent. This is because of guaranteed price parity that the industry as a whole has long ago agreed with hotels and other travel suppliers.

The suppliers (hotels, etc.) benefit as well, paying much lower fees on average to distribute through an agent vs OTAs (and, increasingly, supplier direct marketing) AND by having true advocates building their brands on their behalf - even if the consumer doesn't convert.

An amazing advisor transforms a travel experience. Opens a door to secret destinations and hidden spots. Creates new opportunities for lasting memories. Ensures every experience on a trip or weekend getaway feels special. 

Yet, despite these dynamics, the industry has not been transformed through technology, branding, and new ways of doing business as others have. There’s been innovation at the edges, but there’s not been a new model to rethink how travel is sold in a long time. 

Most people I know do not use a travel advisor, or necessarily even appreciate the potential value a trusted advisor can bring to travel experiences (for free!).

Why has the basic equation of an advisor been widely unknown and misunderstood - even by many in the industry? 

Why hasn’t the ‘gig economy’ and business-in-a-box empowerment crossed over into this 12-figure industry in a big way? 

How do we welcome A LOT of new labor into this market, empowering anyone with the interest or passion to earn income selling travel? And create new economic opportunities and community for thousands in the process, while creating better travel experiences for consumers at the same time? 

And in doing so, how do we re-anchor the overall perception of this very special industry, like Airbnb did with couchsurfing over 10 years ago?

With that, I’m excited to announce my new company Fora, which seeks to address the above questions with a new approach.

Fora is a nod to the Roman Forum - where a visit is one of the singular travel experiences in the world. On my last trip prior to the pandemic, I visited the Forum with archaeologists who had recently excavated a piazza floor underneath the Basilica of Maxentius. Only a few hundred eyes had seen that floor in 2,000 years.

In classical times, the Forum was a place where people came together to discuss ideas and trade with each other.

We hope to be a modern Forum - a marketplace where anyone passionate about travel can create unforgettable travel experiences for friends, families, and travelers with similar interests - and earn a living in the process.

I’m joined by two people I’ve always wanted to work with - Henley Vazquez (a fellow Tribecan who I first met 5 years ago when our kids were in 1st grade together - and accomplished boutique agency founder/owner herself), and Jake Peters, an old friend from London, major world traveler, and outstanding executive and technologist. 

Together we’re on a mission to create 100,000 travel entrepreneurs, empowering stay-at-home moms, freelancers, creators and side-hustlers to earn income and benefits selling travel and creating trips, and be part of a wonderful and supportive community.

Thank you to everyone who's been a sounding board for us these past few months.

And I'm always looking to speak with amazing entrepreneurs that want to come create a equation that's better for the travel ecosystem.

It's back to building for me.