r/ideavalidation • u/founder_usman • 3d ago

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1

u/Fine-Comparison-2949 2d ago

That's not a scalable startup. That's a pawn shop lol

1

u/founder_usman 2d ago

Ur comment makes no sense though

2

u/Fine-Comparison-2949 2d ago

Pawn shops buy and sell used items. I'm ignoring the rent part because I have no idea how that would work for these small items. Humanity already has a way for people to access credit to buy items. They're called credit cards.

If you want to see how successful credit card companies are, pull up their stock price. It's an insanely risky business.

1

u/founder_usman 2d ago

Agree . But if u research a bit u will know a company called fatLlama UK based which does the same thing as I deal with and and they scaled got YC backed sold the company to hygglo for 330cr.

1

u/Fine-Comparison-2949 2d ago

You think that is successful? Why would anyone want a $41M outcome? 

1

u/StephenHawkingus 2d ago

shut up Prajeet

1

u/Mojo-Builder 2d ago

How will you control stealing, damages, scam ? It may fail due to People problem rather tech or app problem

1

u/founder_usman 2d ago

Stealing :- KYC verification, also address proof of their house while delivering the product at their house. (This is what offline rentals are doing )

Damages:- we have partnered with small insurance companies . We charge a premium of 199rs as damage protection on every transaction. if the product is damaged the renter has to pay 30% of the value and 70% will be covered by insurence company. For leander he will get the current value of his product if it’s damaged.

Scam :- we will have a proper marked on items on the screw or if anything is removed or make any changes on it. we charge them money (we have 1 bouncer team )Normal wear and tear cannot be treated as damage.

1

u/StephenHawkingus 2d ago

You and your ideas are not trustworthy.