UTC HALL OF FAME 2017: PATRICK BYRNE, AMY REES ANDERSON AND AARON SKONNARD.

• Author: Walter, Meg
• Position: SILICON SLOPES

On November 10, 2017, three of Utah's finest entrepreneurs were inducted into the Utah Technology Council Hall of Fame: Overstock CEO Patrick Byrne, REES Capital Managing Partner Amy Rees Anderson and Pluralsight CEO Aaron Skonnard. They join a long list of people who have made valuable contributions to Utah's business community, forming the solid foundation of present-day Silicon Slopes.

PATRICK BYRNE: INNOVATOR, SURVIVOR

Over the course of his life, Patrick Byrne has beaten cancer three times, hepatitis twice, and endured over 100 surgeries and medical procedures. From this, he draws inspiration.

"Life is short," said Byrne. "Samuel Johnson says, 'When you tell a man he's to be hung in a fortnight, it tends to focus his mind tremendously.' Well I've been very focused on getting some things done and it has lasted about 30 years.

It's probably the best thing that ever happened to me. If I hadn't gotten cancer I probably would've been a lifeguard somewhere and not nearly as driven."

Alongside this constant battle, Byrne has grown into one of Utah's most notable innovators. In 1999, he launched Overstock.com to corner an emerging market: discount goods sold via the internet.

"When we started, there was a quarter of retail that had not made it to the internet yet and it was the liquidation part," said Byrne. "The American retail supply chain is all about mass quantities, similar goods, small number of suppliers, and everything is optimized around that.

Goods become available in close out, or excess orders, or bankruptcies, or cancelled orders, where there is just dribs and drabs of different goods.... The idea was, bring that online."

Overstock caught on quickly by bringing these liquidated goods online, and the company went public in 2002. As time has gone on, Overstock has shifted its approach to incorporate more drop shipping, where goods are bought on Overstock and shipped direct from a supplier's warehouse--accounting for 94 percent of sales, according to Byrne's estimates.

Byrne was recognized as the EY National Entrepreneur of the Year in 2011 and by 2016, Overstock was generating $1.8 billion in revenue. At the same time, Overstock unveiled new corporate headquarters in Midvale dubbed the Peace Coliseum, home to 1,500 employees and a campus created for innovation.

"I wanted to build a place that would be a great technology hub, great for innovation," said Byrne. "Things get done in tech in collaborative environments, where people are collaborating on projects together. That's how this place was designed--the campus feel, a nucleus in the middle that we could all meet in, greenhouses, healthy food, healthy environment...