E193: Tim Hyer of Rentcycle on This Week in Startups



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If you’ve ever moved, thrown a party or found yourself needing that one tool (you know, the one that does the thing), then you should know about Rentcycle. Founded by Tim Hyer, Rentcycle connects you, the renter, to rental companies all over the country to help you find exactly what you’re looking for at the best price.

0:00-1:00 Today on TWiST, Tim Hyer of Rentcycle is here.
1:00-3:00 We’re here today bringing you another great founder interview. How’s it going, Tyler?
3:00-3:30 To help guide the direction of the show and be first-informed about everything going on at TWiST, join the Backchannel producer program at twistlist.co.
3:30-6:00 Thank you to GoToMeeting for sponsoring the show.
6:00-7:45 On the show today is Tim Hyer of Rentcycle. Welcome Tim.
7:45-9:15 You were in Adeo’s first Founder Institute class?
9:15-10:00 Tell our audience why Rentcycle exists.
10:00-10:45 Is this a Buddhist conspiracy?
10:45-11:30 How does this technically work?
11:30-13:30 Let’s take a look at the site and how it works.
13:30-14:30 Was it easy to win people over on the idea when you started?
14:30-16:30 Jason: Do I own stock in your company? How does that work at Founder Institute?
16:30-17:15 How did you handle the chicken vs. egg problem of supply and demand?
17:15-19:00 How many cities are you in? What’s the most expensive thing I could rent?
19:00-21:00 Was that the original business plan for Rentcycle?
21:00-23:00 Have you ever thought about having storefronts?
23:00-24:00 How did you make the decision of doing a price round vs. a convertible note?
25:30-29:15 Thank you to Squarespace for sponsoring the show. You can save 20% off for six months of service when you sign up with the code ‘TWIST10.’
29:15-31:30 What are you burning every month? What are you going to do with the money you raised?
31:30-34:30 Let’s do a little role-playing. Tyler is an accomplished dev and doesn’t need to work. What do you say to him to convince him to work for you, Tim?
34:30-36:30 Jason pretends to be Tim recruiting Tyler to Rentcycle.
36:30-40:15 Question from the chat: What segment of goods has been most surprising in terms of rental uptake?
40:15-42:00 Let’s take a look at the chart of the week comparing time spent online vs. time spent using mobile apps.
42:00-42:30 What do you think about the chart?
42:30-43:30 Insight from Tyler: That chart reminds me of a Siamese twin suicide.
43:30-50:15 It’s time for everyone’s new favorite game, “Guess the Fake Startup.” Welcome, Kirin.
50:15-51:30 The fake startup is BuyZilla!
51:30-53:45 Question from the chat: What technology stack is Rentcycle developing on?
53:45-55:30 Question from the chat: Would you describe yourself as a co-operation version of Groupon?
55:30-56:45 What’s the renter’s margin on this?
56:45-57:45 Question from the chat: Why will the renters support this model when ultimately it becomes a price comparison experience and drives down their rental income?
57:45-59:00 So instead of going to Stanford for grad school you decided to do this?
59:00-01:00:00 What was that like, the day you got your first seed money?
01:00:00-01:00:45 Tim, thank you for coming on the show. Great idea and great execution.
01:00:45-01:03:15 Thank you to GoToMeeting and Squarespace for sponsoring the show. Everyone please remember to thank @GoToMeeting and @Squarespace on Twitter!
01:03:15-01:05:00 If you want to join the TWiST Backchannel, go to twistlist.co. Thank you for joining, James Smith! We’ll see everyone next time!

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Jason: @jason
Tyler: @steepdecline
Tim: @timthetank
Rentcycle: @rentcycle
Kirin: @kirinkalia

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