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Archive for the ‘entrepreneurs’ tag

Airbnb - proof of change

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A few weeks ago techcrunch broke the news that p2p accommodation startup Airbnb is in the final stages of closing a $100 million funding round which values the company at $1 billion. This comes after a phenomenal performance in 2010 with their service growing by 800% , booking more than 1.6 million rooms and securing $7.2 million in seed funding in December.

This is another piece of evidence that a new economy, driven by collaborative consumption, is on its way. And many people said that such a business model, could not, and would not work. Who would rent a bed out to complete strangers….? turns out lots of people would and do.

The future is not like the past. And we are glad about that here at rentoid.

Here is a presentation by one of the founders of Airbnb talking about how the company got started and the journey to where it is now - on the video inserted below:

Kudos to the guys at Airbnb.

PSFK CONFERENCE NYC 2011: Joe Gebbia from Piers Fawkes on Vimeo.

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July 1st, 2011 at 9:00 am

Your hidden assets

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A few bits and pieces I have lying around the house…

Books - don’t read them every day (and hard to read more than one at a time.)

DVDs - I’ve already watched the.

Clothes & shoes - can’t wear them all at once.

Backpacks - I have 2. I might use one in a day, but almost never need to use both at once.

Musical instruments and gear - that guitar has been sitting in the corner for quite a while now. But I’m still very attached to it and don’t want to sell it.

Bubble machine - bought it for a party but I don’t have parties very often.

Hard drive space - I while back my external hard drive was having some problems and needed to be reformatted. The problem was I didn’t have anywhere to put all my files so I had to go out and buy another one just so I could copy over the files and fix it. Crazy right?! I hope I can help someone else avoid this conundrum by listing my own hard drive space on rentoid.

Dumbells - These are something that many people have, but think about it, if you’re like me, most people don’t use them every day and the days I do use them it will only be for 15 minutes or so.

Suit - what do I need this for? Weddings and funerals. Do these come around often? Nope.

TVs - Sure, it might turn out that nobody wants to rent your old TV but you never know, and it certainly doesn’t hurt trying.

I’ll be listing these on rentoid in the next few days. What items do you have lying around the house that could be out there making you easy money?

Geordie - rentoid team.

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May 22nd, 2011 at 11:14 pm

It’s up to us - John Stewart

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We thought this piece from John Stewart was really great. He’s kind of like, well he is one of our heroes here at rentoid. We’re lucky to have people like him. Invest the 7 minutes in watching this. It’s worth every second.

The Daily Show With Jon Stewart Mon - Thurs 11p / 10c
An Energy-Independent Future
www.thedailyshow.com
Daily Show Full Episodes Political Humor Tea Party

Here’s what we think. The only real change that have ever occurred for humans has been driven by entrepreneurs providing better solutions. So let’s not wait for governments (we’ll be waiting a while) and create our own future.

Cheers, rentoid team

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June 20th, 2010 at 6:23 am

Paul Graham on ‘Stuff’

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For those of you who don’t know, Paul Graham is one of the great thinkers of our time. His essays, are classics when it comes to business, startups, and life philosophy.

One in particular PG wrote on ‘Stuff‘ feels as though it was written with rentoid.com in mind, so I thought I’d share it here. I’m sure he wont mind :)

People have too much stuff. Most people in America do. In fact, the poorer people are, the more stuff they seem to have. Hardly anyone is so poor that they can’t afford a front yard full of old cars.

It wasn’t always this way. Stuff used to be rare and valuable. You can still see evidence of that if you look for it. For example, in my house in Cambridge, which was built in 1876, the bedrooms don’t have closets. In those days people’s stuff fit in a chest of drawers. Even as recently as a few decades ago there was a lot less stuff. When I look back at photos from the 1970s, I’m surprised how empty houses look. As a kid I had what I thought was a huge fleet of toy cars, but they’d be dwarfed by the number of toys my nephews have. All together my Matchboxes and Corgis took up about a third of the surface of my bed. In my nephews’ rooms the bed is the only clear space.

Stuff has gotten a lot cheaper, but our attitudes toward it haven’t changed correspondingly. We overvalue stuff.

That was a big problem for me when I had no money. I felt poor, and stuff seemed valuable, so almost instinctively I accumulated it. Friends would leave something behind when they moved, or I’d see something as I was walking down the street on trash night (beware of anything you find yourself describing as “perfectly good”), or I’d find something in almost new condition for a tenth its retail price at a garage sale. And pow, more stuff.

In fact these free or nearly free things weren’t bargains, because they were worth even less than they cost. Most of the stuff I accumulated was worthless, because I didn’t need it.

What I didn’t understand was that the value of some new acquisition wasn’t the difference between its retail price and what I paid for it. It was the value I derived from it. Stuff is an extremely illiquid asset. Unless you have some plan for selling that valuable thing you got so cheaply, what difference does it make what it’s “worth?” The only way you’re ever going to extract any value from it is to use it. And if you don’t have any immediate use for it, you probably never will.

Companies that sell stuff have spent huge sums training us to think stuff is still valuable. But it would be closer to the truth to treat stuff as worthless.

In fact, worse than worthless, because once you’ve accumulated a certain amount of stuff, it starts to own you rather than the other way around. I know of one couple who couldn’t retire to the town they preferred because they couldn’t afford a place there big enough for all their stuff. Their house isn’t theirs; it’s their stuff’s.

And unless you’re extremely organized, a house full of stuff can be very depressing. A cluttered room saps one’s spirits. One reason, obviously, is that there’s less room for people in a room full of stuff. But there’s more going on than that. I think humans constantly scan their environment to build a mental model of what’s around them. And the harder a scene is to parse, the less energy you have left for conscious thoughts. A cluttered room is literally exhausting.

(This could explain why clutter doesn’t seem to bother kids as much as adults. Kids are less perceptive. They build a coarser model of their surroundings, and this consumes less energy.)

I first realized the worthlessness of stuff when I lived in Italy for a year. All I took with me was one large backpack of stuff. The rest of my stuff I left in my landlady’s attic back in the US. And you know what? All I missed were some of the books. By the end of the year I couldn’t even remember what else I had stored in that attic.

And yet when I got back I didn’t discard so much as a box of it. Throw away a perfectly good rotary telephone? I might need that one day.

The really painful thing to recall is not just that I accumulated all this useless stuff, but that I often spent money I desperately needed on stuff that I didn’t.

Why would I do that? Because the people whose job is to sell you stuff are really, really good at it. The average 25 year old is no match for companies that have spent years figuring out how to get you to spend money on stuff. They make the experience of buying stuff so pleasant that “shopping” becomes a leisure activity.

How do you protect yourself from these people? It can’t be easy. I’m a fairly skeptical person, and their tricks worked on me well into my thirties. But one thing that might work is to ask yourself, before buying something, “is this going to make my life noticeably better?”

A friend of mine cured herself of a clothes buying habit by asking herself before she bought anything “Am I going to wear this all the time?” If she couldn’t convince herself that something she was thinking of buying would become one of those few things she wore all the time, she wouldn’t buy it. I think that would work for any kind of purchase. Before you buy anything, ask yourself: will this be something I use constantly? Or is it just something nice? Or worse still, a mere bargain?

The worst stuff in this respect may be stuff you don’t use much because it’s too good. Nothing owns you like fragile stuff. For example, the “good china” so many households have, and whose defining quality is not so much that it’s fun to use, but that one must be especially careful not to break it.

Another way to resist acquiring stuff is to think of the overall cost of owning it. The purchase price is just the beginning. You’re going to have to think about that thing for years—perhaps for the rest of your life. Every thing you own takes energy away from you. Some give more than they take. Those are the only things worth having.

I’ve now stopped accumulating stuff. Except books—but books are different. Books are more like a fluid than individual objects. It’s not especially inconvenient to own several thousand books, whereas if you owned several thousand random possessions you’d be a local celebrity. But except for books, I now actively avoid stuff. If I want to spend money on some kind of treat, I’ll take services over goods any day.

I’m not claiming this is because I’ve achieved some kind of zenlike detachment from material things. I’m talking about something more mundane. A historical change has taken place, and I’ve now realized it. Stuff used to be valuable, and now it’s not.

In industrialized countries the same thing happened with food in the middle of the twentieth century. As food got cheaper (or we got richer; they’re indistinguishable), eating too much started to be a bigger danger than eating too little. We’ve now reached that point with stuff. For most people, rich or poor, stuff has become a burden.

The good news is, if you’re carrying a burden without knowing it, your life could be better than you realize. Imagine walking around for years with five pound ankle weights, then suddenly having them removed.

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March 27th, 2010 at 5:00 pm

How to generate Business Ideas

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Here’s a little interview our Founder and Chief Espresso Maker Steve Sammartino did with Fiona Boyd, the uber clever entrepreneur who founded and sold www.artshub.com.au Talking about how rentoid.com was conceived.

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September 8th, 2009 at 1:17 am

Our people matter

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A lot of business talk about their people (employees) being the most important part of the business. And quite frankly they are full of crap. Most businesses care about these things in order of most importance.

1. Profit

2. Shareholders

3. Ego

In general most large companies talk about their people being their most important resource, simply becuase they read it is some text book somewhere or heard it a corporate seminar. The evidence lies in what they call people - ‘Human Resources’. As soon as we think of ‘people as resources’ real intentions and value systems become evident.

I just thought it was about time we gave some recognition to our CTO - Chief Technology Officer - Vasilii Racovitsa. Vasilii is the main coder at rentoid and key technology project manager. He’s currently working on rentoid version 2.0 which will be a dramatic improvement of the rentoid site. With a key focus on usability - and ease of transacting. We’re pretty lucky to have Vasilii because he is a super smart multi-lingual uber geek. He’s currently studying his PhD in computer science. We like to rub shoulders with such people…. :-)

vasilii-racovitsa

The thing that matters most is that he’s a nice guy who keeps his promises. We are stoked to have him as part of the rentoid team.

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Written by admin

July 21st, 2009 at 8:38 pm