Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand

Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand

What if the best startup isn’t sexy at all? In 2013, Vijen Patel left private equity to pursue “the least-worst idea”: dry cleaning. No patents. No app wizardry. Just laundry lockers in high-rises, ruthless unit economics, and a $1.99-a-shirt price that was seared into America’s brain.

From bootstrapping routes at 5 a.m. to breaking even in 6 weeks, Vijen and co-founder Drew McKenna scaled Pressbox to hundreds of locations, stared down well-funded competitors, and ultimately sold to Procter & Gamble, where Pressbox became Tide Cleaners (now ~1,200 locations). After the exit, Vijen launched The 81 Collection, a VC fund backing “boring” businesses that quietly power the economy.

This episode is a masterclass in building profit first, creating user behavior (not changing it), and protecting customer retention like your life depends on it.


What you’ll learn:

  • How the “least-worst idea” found product-market fit
  • How sidestepping rent + labor can flip margins from 15% to ~40%
  • The efficiency insight that beat “Uber-for-X” rivals
  • The new-residence edge: creating customer habits with a welcome-kit
  • Why Pressbox had to set crazy-high retention goals (98%!)
  • How to keep competitors close—and turn a Goliath into your buyer
  • The post-exit premise: “boring” businesses are engines of the middle class


Timestamps:

  • Choosing dry cleaning with a private equity lens: don’t do it for passion–focus on practicality — 00:09:30
  • The SMS “app”: low tech, high convenience — 00:14:14
  • Unit economics breakthrough: lockers (26 transactions per hr) versus scheduled pickup (4-6) — 00:18:55
  • The $1.99 insight: a price everyone expected — 00:24:58
  • How getting into Chicago’s top high-rise was a game-changer — 00:31:11
  • Margins that work: if you’re a high-rise “amenity,” you don’t pay rent — 00:33:08
  • Competing with Washio: convenience wins — 00:39:07
  • Vertical integration: building the plant, staffing via Spanish newspapers — 00:41:48
  • P&G looms: head-to-head, then the acquisition dance — 00:51:25
  • Burnout, trade-offs, and life after exit: launching a VC fund that specializes in boring businesses — 01:03:28


This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Olivia Rockeman. Our engineers were Patrick Murray and Maggie Luthar.


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AI that can be your second brain with Bethany Bongiorno and Imran Chaudhri of Humane

AI that can be your second brain with Bethany Bongiorno and Imran Chaudhri of Humane

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Primal Kitchen: Mark Sisson

Primal Kitchen: Mark Sisson

Mark Sisson made a big bet on mayonnaise, and won: four years after launching his Paleo-friendly condiment company Primal Kitchen, he sold it for $200 million. He succeeded partly because he drew lessons from his previous failures and accomplishments - as a marathon runner, Ironman triathlete and coach, frozen yogurt proprietor, sports supplement founder, TV show host, and Paleo book author. But Mark’s biggest business came at an age when most people contemplate retirement. He developed a recipe for avocado-oil based mayonnaise, then added ketchups and other condiments. After Primal Kitchen was sold to Kraft Heinz Corporation in 2019, Mark launched a totally new business: minimalist shoes.This episode was produced by Casey Herman with music composed by Ramtin Arablouei.It was edited by Neva Grant with research help from Melia Agudelo.Our engineers were Gilly Moon and Maggie Luthar.You can follow HIBT on Twitter & Instagram, and email us at hibt@id.wondery.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Supercharging Lithium-Ion Batteries with Gene Berdichevsky of Sila Nanotechnologies

Supercharging Lithium-Ion Batteries with Gene Berdichevsky of Sila Nanotechnologies

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Uncle Nearest Premium Whiskey: Fawn Weaver (2021)

Uncle Nearest Premium Whiskey: Fawn Weaver (2021)

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The peril (and promise) of AI with Tristan Harris: Part 2

The peril (and promise) of AI with Tristan Harris: Part 2

What if you could no longer trust the things you see and hear?Because the signature on a check, the documents or videos presented in court, the footage you see on the news, the calls you receive from your family … They could all be perfectly forged by artificial intelligence.That’s just one of the risks posed by the rapid development of AI. And that’s why Tristan Harris of the Center for Humane Technology is sounding the alarm.This week on How I Built This Lab: the second of a two-episode series in which Tristan and Guy discuss how we can upgrade the fundamental legal, technical, and philosophical frameworks of our society to meet the challenge of AI.To learn more about the Center for Humane Technology, text “AI” to 55444.This episode was researched and produced by Alex Cheng with music by Ramtin Arablouei.It was edited by John Isabella. Our audio engineer was Neal Rauch.You can follow HIBT on X & Instagram, and email us at hibt@id.wondery.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Poshmark: Manish Chandra

Poshmark: Manish Chandra

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The peril (and promise) of AI with Tristan Harris: Part 1

The peril (and promise) of AI with Tristan Harris: Part 1

When Tristan Harris co-founded the Center for Humane Technology in 2018, he was trying to educate tech leaders and policymakers about the harms of social media.But today, he’s sounding the alarm about a different technology — one that he says could pose an existential threat to the entire world …Artificial intelligence.This week on How I Built This Lab: the first of a two-episode series in which Tristan and Guy examine the serious risks posed by the rapid development and deployment of AI — and what we can do to make sure this powerful technology is used for good.You can learn more about “The Social Dilemma,” the 2020 Emmy-winning docudrama featuring Tristan, here: https://www.thesocialdilemma.com/.This episode was researched and produced by Alex Cheng with music by Ramtin Arablouei.It was edited by John Isabella. Our audio engineer was Neal Rauch.You can follow HIBT on X & Instagram, and email us at hibt@id.wondery.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Sonos: John MacFarlane

Sonos: John MacFarlane

In 2002, John MacFarlane and his co-founders began tinkering on what was then an ambitious idea: create a new way to enjoy music throughout the home, without wires. At the time, streaming and the iPod were brand new, and smart speakers were over a decade away. But the team at Sonos engineered a top-quality wireless sound system, and–with many fits and starts–integrated it with mobile technology and, eventually, Siri and Alexa. Along the way, John and his team contended with the early unreliability of WiFi, and faced stiff competition from much bigger companies. But today, Sonos is an established player in music, with projected sales of over $1.5 billion this year. This episode was produced by Katherine Sypher with music composed by Ramtin Arablouei.It was edited by Neva Grant with research help from Sam Paulson.You can follow HIBT on Twitter & Instagram, and email us at hibt@id.wondery.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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