Good Deed 4/20 – Let’s Talk About Cancer
June 17, 2024
At Bridge Classic Cars, we always try to do our bit to raise awareness of important causes. When a member of the team was diagnosed
June 17, 2024
Race For Life 2024
June 17, 2024
Since its launch in 1994, Race for Life has grown from a single event in Battersea Park to a nationwide fundraiser. Over the past three
The Collapse of Cazoo
June 17, 2024
Cazoo had all the potential to be a huge success and to change the car buying process for millions. Founded in 2018 by Alex Chesterman,
Good Deed 4/20 – Let’s Talk About Cancer
June 17, 2024
At Bridge Classic Cars, we always try to do our bit to raise awareness of important causes. When a member of the team was diagnosed with cancer a few months ago, it quickly became apparent that several members of the Bridge Classic Cars team have experienced cancer first-hand.
After reaching out to our friends and family, we brought together a group of men to help break the silence and encourage conversation about what it means to be diagnosed with the ‘Big C’.
Although things have come a long way, there is still a stigma around men talking about emotional topics. The aim of this project is to show that men can talk about the impact that cancer had on them and their families. We have put together a 35-minute video that shows the conversation that took place in the hope that more of them happen as a result.
Voices That Need to Be Heard
Cancer is often dealt with in silence, especially among men. Societal expectations and personal fears can create barriers to open discussion. Our project seeks to take down these barriers. Our video captures raw, honest conversations about the fears, the struggles, and the triumphs of living with and beyond cancer. The men in the video talk about their initial reactions, their treatments, and the emotional toll the disease has taken on them and their loved ones.
The Silent Supporters
The video also features the voices of the wives and partners who have stood by these men through their cancer journey. Their perspectives highlight the ripple effect of cancer, showing how it touches not just the individuals diagnosed but also their entire support networks. These women speak of their own fears, their roles as caregivers, and the strength they’ve found in supporting their partners.
Offering Support and Friendship
Ultimately, this project is about offering support and friendship to those impacted by cancer. It’s about reminding everyone that they are not alone in their journey. The bravery of the men and women featured in our video should serve as motivation for more people to speak up and share their stories. We hope that this project will ignite a broader conversation, one that extends beyond our circle and into the wider community.
Please watch the full video when it goes live at 8pm on Thursday – set a reminder here.
Race For Life 2024
June 17, 2024
Since its launch in 1994, Race for Life has grown from a single event in Battersea Park to a nationwide fundraiser. Over the past three decades, it has raised over £970 million, funding groundbreaking research that has helped improve cancer survival rates and treatment options.
At the weekend, I went to the Race For Life held at Trinity Park in Ipswich, as my brother was taking part in the 5k event. In addition to the 5k, there were also 3k, 10k, and Pretty Muddy courses too. There were so many people in attendance, whether taking part or spectating, and I enjoyed spending the morning with my family watching the amazing fundraisers cover their chosen distance, all while raising much needed funds for Cancer Research UK.
There were stories being shared of survival and loss, hope for the future, and a big sense of gratitude. It was great to hear that, in Ipswich alone, £140,000 had been raised in this year’s Race For Life.
Cancer has impacted a lot of the team here at Bridge Classic Cars. We have been working on a project that will soon go live to help start conversations and offer support to all those who are facing cancer.
My brother raised around £300 which will all go toward funding research that will hopefully, one day, stop cancer from impacting anyone else.
The Collapse of Cazoo
June 17, 2024
Cazoo had all the potential to be a huge success and to change the car buying process for millions. Founded in 2018 by Alex Chesterman, who also started LoveFilm and Zoopla, Cazoo aimed to make buying a used car as easy as any other online purchase. Despite early success, the company recently entered administration.
What happened at Cazoo and why did something so promising end up in its current situation?
Initial Success and Rapid Growth of Cazoo
Cazoo grew quickly, heavily investing in marketing and expanding into Europe. Their goal was to streamline the car buying process, allowing customers to purchase, finance, or lease a car entirely online, with home delivery. This model gained significant traction during the COVID-19 pandemic when traditional car buying was disrupted, and the convenience of online purchases became highly attractive.
Financial Challenges and Strategic Errors
Despite its outward success, Cazoo had financial problems behind the scenes. Their aggressive growth led to high expenses, especially in marketing and sponsorships. The business model required substantial capital for inventory and logistics, which became increasingly difficult for the company to afford. The used car market is known to be very complex, with high overhead and logistical costs, and Cazoo struggled to manage these.
Consumer Preferences and Market Dynamics
Cazoo’s model was based on the assumption that consumers would be comfortable buying used cars online without a test drive. However, many buyers still prefer to see and test the car in person before making a decision. The economic environment, including rising inflation and interest rates, also affected consumer confidence and spending, putting even more strain on Cazoo.
Operational and Financial Strain
By March 2023, the company faced substantial financial difficulties, missing a $5.3 million (approximately £4.2 million) interest payment and failing to file its accounts on time, which led to a non-compliance notice from the New York Stock Exchange. The company looked for additional funding and explored selling parts of its business, but these efforts were unsuccessful. The board ultimately decided to cease operations, leading to the company entering administration and approximately 200 job losses.
There were once around 700 people employed by Cazoo, however, the majority of these were made redundant in March when the company remodelled from a dealer into a marketplace where customers bought and sold cars.
Competitive Landscape and Market Adaptation
Competition in the used car market also contributed to Cazoo’s challenges. Traditional dealerships and other online car retailers enhanced their digital offerings, making it difficult for the business to sustain its market share. Established dealerships, which offer both online and in-person services, provided a more flexible and resilient model compared to Cazoo’s online-only approach.
The End of Cazoo
Cazoo is/was a company of high ambitions and significant challenges. Their attempt to revolutionise the used car market with an online-only strategy faced numerous issues. High operational costs, rapid growth, fluctuating market conditions, and stiff competition overshadowed their initial success. While the idea of simplifying car purchases online was innovative, the practical challenges of the used car market proved insurmountable (at least on this occasion).
Leave a Reply