
(Thaddeus O'Neil)
(Thaddeus O'Neil)
Not a big fan of gossipy company culture exposes, but DANIEL ROBERTS' piece on RENT THE RUNWAY for FORTUNE is useful -- it highlights some fundamental issues with the company's model. Says founder and C.E.O. JENNIFER HYMAN: "Given that NETFLIX is a $60 billion company -- and we don’t have to watch TV or movies every day, but we do all have to get dressed -- the potential for RENT THE RUNWAY was 10 times bigger than I ever thought.” Do I need to explain how absurd it is to compare a video streaming service to one that rents out physical goods? Ones that have to fit on bodies, no two of which are exactly alike? Ones we develop intensely personal attachments to? A former employee interviewed for the story said, "It’s very much a prom dress rental company, but they’re trying to be more, and the problem is no one wants to rent that everyday stuff.” I don't know that renting out prom dresses is the ceiling for the RENT THE RUNWAY, but I'm highly skeptical that anyone wants to rent wardrobe staples... I was pretty certain I'd heard everything I'd ever need to about the business and culture of collecting sneakers, but JOSH LUBER's TED Talk, "The Secret Sneaker Market -- And Why It Matters" is worth eleven minutes of your time. Astonishing figure: resale profit on NIKEs alone topped $380 million in 2014, while SKECHERS, NIKE's closest competitor, did only $209 million in retail sales... Making MISSY ELLIOTT's disco ball suit...