Jenny Fleiss

I know me in New York City when Rent the Runway started, all of a sudden, every woman around New York had like these new dresses everywhere. There are on

Instagram wearing their stuff. I'm like, damn these women into buying all this clothe They know they're not buying it, They're renting it because the company got invented by these two amazing women that connected fashion to technology and changed the world of fashion forever, changed the paradigm of how people think about owning or not owning clothes for the

rest of time. She is a tastemaker, a trend setter, and an all out total mogul who's now a better capital listen our own right investing tech companies around the world. I am super excited. Let's go, Jenny Flice, Welcome to a new episode. I'm a huge fan and I followed your entire career for a really really long time. And I'm a big fan too of female founders rent their one way and we can get to that, but it's obviously huge. Every single woman in this entire office that's

ever worked for me has used it. Of my company is women, and they've all they've all experienced it, they've all gone through it. But then you left. You went to Jet Black with Mark, who we know, and so I'm glad he was able to make this introduction UM, and now I am waiting for you to tell us all live what's your next company is. There's some stuff

in stealth mode. Okay, this isn't public. Yeah, okay, So first off, I do a lot in the investing side, right I'm at a growth equity fund called Volition Capital, so I touch a lot of different businesses and founders. So I'm lucky to see like the full ecosystem of

all the exciting things going on right now. There is a team that I'm super excited about that I've been helping to form a product um and it's in the customer service space, um, and so it's not fully ready for prime time, but that is also somewhere where're going to spend some time. I think customer services this like forgotten industry that people are so focused in the digital world of like reducing the amount of customer service interaction

because it saves you money and cost. But it's this amazing opportunity to sell, to understand your customer, to have that touch point, which is so rare in a digital world.

So it's kind of flipping that on his head and said, like, what if we actually deliver like a best in class customer service experience, use that as a differentiator, funnel the data back to make your product and your company even better, and use it as like a third party service so it could be plugged in play for the next digital startup to just kind of outsource their customer or service and have it be best in class customer services. My

whole business. I was gonna say, you definitely understand this

right between the businesses that we have here. It's it's a lot of our business and then we have an education tech platform and we've been hiring customer service people left and right, and that's a big way that that business grows and salespeople join us is because it just doesn't exist anywhere, and they email us and we email back, or they call us and they have a question about a deal or anything that we're doing, and we respond, and then they talked to another agent and that person

joins and so on and so forth. It's probably next to content um those two c's, right, content and customer

service almost go hand in hand and your ability to sell. Well, if you think of like the initial businesses like Zappos on the Internet, they had this deep understanding of how important customer service was and not just like let's fix your problem, but the idea of having a human touch point right, So Zappos mantra was like call the number, it's plastered up on the screen, they'll talk to you. There was no limit, they're not measuring the time you can talk to you all day, and that was the

cornerstone of their business. So this realization of people like the further you go into the digital world of making things fast and easy and transactional, the more important it actually is to have that in person kind of touch pointed to feel like there's an entity behind the business and the product you're buying to answer your questions and what have you. And I think we've really lost that.

So I think it's a hidden opportunity. We saw it with jet Black, So jet Black personal shopping over text message I worked on with Mark Lore at Walmart U and versus an Amazon where you're thinking, like, this is a transactional, glorified search bar, Like, what is the ability to differentiate it's in these like touch points, these human more human feeling touch points. What was something you were super naive about in your early days building rent runway?

I mean, just one thing. Um, So, first off, I think that like being naive is one of the greatest gifts of being a first time entrepreneur ignorance. Yeah, like, had you ever known how hard it was, you would have never tried. Um. And so a couple of examples come to mind. You know, one is Jen and I built a fashion technology business with no fashion background and really no technology background either. But would you have built

it had you had either of those backgrounds. I think we wouldn't have had the same fresh lens on the fashion industry that we were able to really disrupt that industry. And I think on the technology and logistics we would have been probably too intimidated by how complex what we were doing was that it would have just been too daunting to go after it. But with technology, we thought we could like outsource tech, you know, we like put

our request for proposal out. We found like what we thought was the best engineering team, and we're kind of like, okay, like see you in two months with our tied with the bow package of a website that will like launch and nothing like that. Nothing works like that right in the world. It's like anything that's mission critical you need to have your hands on, you need to own. So finally, like flying to Canada where this team was and realizing there was really not a team and the product was

so far from where it should be. Was this like very naive moment of hey, we got to figure this part of the business out and be much more hands on and logistics to write like the amount of dry cleaning you have to do. I mean, so I ran logistics for about four years of my time. It rent the runway. I joked it was like the last straw drawn because just it was hard to hire for, it

was complex, it was a lot of work. We initially used our local dry cleaner company called Slate in the West Village, and it was like I was asking him about dry cleaning to learn and to understand the pricing, and then I was like, hey, you have some empty space,

like could we store our dresses here? So for a while we had like a free warehouse essentially, but we gave them all of our dry cleaning business, and pretty soon it was enough money that we were spending and we were busting at the seams from this dry cleaner that we needed to create our own facility. Yeah, it's like Coca Cola on the bottling yeah yeah. So yeah,

so we have our own facility. It's actually the largest dry cleaner in the US, possibly the world, that's debatable, but we have New Jersey and now we have a Dallas facility as well. A lot of people that I speak to, and a lot of people who listened to this,

are either like one or two spots. They have an idea that's germinating that they want to do something with and so they find inspiration from your story and your multiple stories, or they're starting something and they have pain points, right and they're trying to figure out like, Okay, is this real? Is it not real? Or I'm trying to grow,

trying to get to that next spot. What was a and I'm sure there's thousand of them, But what's a pain point that sticks out to you today that someone might encounter now in the ties kind of post COVID, Like you just talked about customer services, something that maybe we wouldn't have thought about so intently in two thousand eighteen,

but now is a big, big deal, especially digitally. So I actually think ironically in customer services one example, the rise of digital and the efficient transactions that it enables has created all these I call them like taxes of of e commerce. So for example, the idea that we have everything in our fingertips now is actually really time consuming.

Like you used to be walked into a store there was five types of shampoo or whatever it was, and all of a sudden you can literally get access to thousands international options and it creates this like analysis proalysis, this rabbit hole where then we have to do the research of which is the best and we can easily spend like an hour of our time, which is our most valuable commodity trying to decipher from this like all these options, which is the best. Um so That's one

area that I think about. Another is like these hidden um, these hidden costs of your time and things like returns. So obviously, if you're not trying something on, you're not going to the store in the first place, the odds that you're going to get it right are a lot smaller.

And that could because it doesn't fit, or it could be just because like you didn't actually like the product, the quality wasn't good, it was the wrong you know, the wrong color what you know, it's harder to tell online and the process of returns right now takes a lot of time and energy printing a label, going to

the hub spot to deliver and return the item. Um. So there's like quite a few examples of these hidden costs of time, even entering your credit card information and your details right that that we all kind of encounter on a daily basis. What was a career highlight for you, Well, definitely co founding rent the Runway has been like this dream.

The day that we launched, um, we were covered in the front page of the Tech section of the New York Times, and it was when most people still had physical New York Times delivered doorstep that moment, Yeah, where I went to my own doorstep and saw it and

we were right there on the cover. And then you know, going into the office that day, because we all went into the office also at that moment in time and like being able to jump up and down with the teammates, my co founder and celebrate that special moment because a lot of hard work goes into that that moment um. So that that for sure was one. I mean, getting our term sheet from a venture capitalist for Rent the Runway was another. Getting a film before after that came

before the New York Times. Yeah, and you had a publicist who helped you get that article. No, Actually it was really fun entrepreneurial story where we had about thirty customers when we launched Rent the Runway in like a private beta launch and one of those emails natural organic Growth. We were hustlers, like we got those email addresses through our friends, our family, We hosted, like we would throw parties for our friends if they gave us like the

most email addresses. We would go to the movie theater lines of relevant movies like Sex in the City movie and get with the clipboard like collect email address it. Like we did whatever we could to get that email list. Um. So when we launched to this initial group, there was someone and then people started chattering and shared it as well. But there was a New York Times email address on

the list. And we noticed this because you're kind of if you're a good entrepreneur early on, you're paying attention to like every customer and every piece of information. Um. And so we reached out and we're like, listen, we're psyched that you're a customer, Like, let us know if you ever want to chat and lo and behold like she did. And it was a young Newish reporter at the time who came to our office and wind up covering the story. Um, so yeah, it was she was

a customer. She was a customer, one of her first customers. That's awesome. Yeah, it was incredible. And you know, we then of course realized that if we she was a tech reporter. So we saw that also and we're like, well, there really aren't many women in tech, Like this was a very to have a fashion article in the tech section.

I think also from like a strategic buy, were like, this could be really interesting, and so we were like, do you want some photos, like come to our warehouse and we wore like these fun dresses and stood up on ladders in the dry cleaner warehouse. I think we had enough of the strategy ourselves, combined of course, with some luck and you know, proactivity to just make this happen. Were you spending marketing dollars yet at the time? Not really.

I mean I think that for for rent the Runway, up until a few years ago, we were like plus organic word of mouth. The big insight for us was, you know, when you're at an event, the natural conversation started for a woman is you look great? What are you wearing? Right? That's how most women start, like break the ice. If we could own that moment and have someone say thanks, like I rented the runway, that would be everything. You would answer a questions like what's round

the runway? How does it work? What if I spill wine? What if it doesn't come or doesn't fit? And because it was such a new behavior at the time, we needed that trust and that you hear it from a friend, right, you hear it from someone at a party. And so

we really invested in our brand. If anything, um so not the traditional digital marketing, but yeah, making sure they are packaging our website looks beautiful and aspirational, that we had beautiful designer addresses, yes, and that the customer experience

was really good. So our customer service team, I mean initially was us answering the calls and stuff, but we tried to just nail that customer experience and you also really nailed and you might tell me I'm totally wrong with this and said, no, Ryan, that was a massive issue. But like I don't ever remember when you started, um there being an issue with the fact that people were renting dresses and not owning them. Like there wasn't a

social issue, right, there was. There was no ego attached to it, because like if you think about it now, if you go twenty years ago and you're gonna pitch that idea, it's like, no, I want to own my clothes, right, that shows that I make enough money to be able to do that and bypassed that wall. That wasn't. Yeah, that was not a given and was something we were nervous about and that the designer partners we worked with

were also nervous. And I'm sure because at the time, you know, we launched two thousand and nine, many designer brands were just starting to sell online let a interest someone else to rent their products, pre owned products, and so that was a lot to triangulate, and we definitely didn't know if customers would think this was like ikey,

like how would they perceive it? Um. I think the tail ones have really been at our favor and we were kind of a little bit ahead of the game and able to be a part of adjusting consumer behavior. Sustainability has been a big piece of this mix too.

Write like, we've always been a sustainable concept, the idea that if you rent and you buy less, it makes sense, you know, it saves waters so many pieces from a sustainability perspective, but customers really care now and when we ask the main reasons people rent, that's now one of the top three reasons. Yeah, Like because there's there's stat that at least half the stuff in your closet you really don't wear more than once or twice. And then I feel bad for my clothes that I don't wear.

They're not getting a turn. I do feel all that. I feel like we all kind of feel bad, right Like I have I have like seventy suits. You don't need that many suits. You would think I don't, um, but I do. I do have a lot of suits, and I built a new house around our closet. Um. That was like the one thing we designed first, right,

it was to have like the greatest closet. You're such a close I'm not really, I just wear a lot of suits, um, and so I and I do feel bad, like if I walk by a suit I haven't worn in a little while, Like sometimes I'll whisper and say, like, I'm sorry, going to give it a spin. Yeah kind of.

I think that's so so true and right, And I think that in my head, Yeah, I hear you, yeah, because I don't know, maybe because I saw a toy story like a long time ago, and I'm like, I wonder if my suits talk to each other, and like Ryan,

it's aware us anymore. Like the coloring is so cute and so funny, and like, you know what in your industry, clearly like presentation is first impression, impression if you're not carefully And so that was actually a big piece of Round the Runway in the sense that like we know that as women, the way you look determines how you act, how you feel, like the brand that you put out there. When we launched social media was hotter, you know, I mean now it's hotter than ever, but it was very

much on the rise. So the idea that you are also putting a photo out there into the world that's going to be this forever indelible like print of who you are. You're sharing your brand. But then the way it makes you feel, right, You're like I can take on the world. And the brand that we built for in the runway was around female empowerment and self confidence, the idea that, like, your dress is not just an outfit, it's how you feel and how you're going to take

on the day. So New York Times article comes out, Were you prepared for the rush that came right after that? Lost? No, But we knew enough to think about. We were always going back to the customer experience, right, and so we knew as customers ourselves, right, we were women in our twenties launching the business. If we came to that site and there wasn't a great selection of dresses of product, that it would be a terrible experience. So we knew

that couldn't happen. And so what did we do. We paid a lot of attention to waiting to launch until we had a great beautiful website, great designer dresses in enough sizes, some amount of quantity. And then we put up a gate on our website, meaning that we only let a certain number of people in, which really let us control the traffic and demand. It also created took away from the like rental could be down market. It

made it more like an exclusive thing. Yeah, and we were coming up the tail winds of Guilt Group, who who did the same thing. They had like this gated site. They made shopping at a discount cool and exclusive and luxury. So we drafted off of that and it let us really control the experience customers had. So we stopped letting people in. You know, we let in some every day, but we tried to do it in a way that we could manage. Um, and we were still figuring out

kinks and bugs as we grew. Um. There was the second day we had the idea that you could get a second size for free. So we didn't know we knew people would have concerns oversizing, and so we're like, okay, if you rent a size six, you get a size eight for free. Like as we let customers do that, and all of a sudden we saw no one was renting a second size. We're like, it's free, Like why

wouldn't people do this? And we dug into it and our chech was broken around like enabling you to show move someone did this, and so what do we do? We called everyone who had rented, because a couple hundred people and it's not that it's not possible, and we're like, hey, so excited, you're one of our first customers. Just want to confirm the details of your order. And so it's moments like that where you're kind of like drinking from a fire hose. You're just trouble to figure it out.

You cover your ass, like yes, you figure it out. And there was so many moments like that where, you know, photographing our first stresses. It was like a week before launch and the developers are like, okay, now we need to load the photos and I'm like okay, great, Like the designers give us photos and it's like no, no, like we have to run a photo shoot. We're like we have to run a photo shoot, like and then retouching, like we had never done this. We didn't know what

this was. We didn't have a placebook, and so you pull all this stuff together in like forty eight hours. Right, another example of you knew how hard and all the things you had to do, like you probably wouldn't have done it, and you started with a co founder, yes, and relationships are always hard, yes, right? How was that kind of doing it together at the beginning, And it's the two of you where their struggles as you grew and as it was like Okay, I'm gonna handle logistics,

but I don't really want to. Could you do this? And then the company grows and grows and grow. Yeah. So I think it's first off, a lot more fun like doing something with a team or co founder. It's just more enjoyable how you spend your day to day. So, um, it helps in terms of the complement of skill sets. And for sure Jen is big picture strategic visionary thinker much in the way Mark Laura is as well. Um, and I'm like, how do you get from point A

to point B? So we recognize and respected in one another those skill sets, and so I think the same is true of when you you know, you pick your partner and your spouse, when you pick your co founder, it's like, as long as you respect them, and like, I think so highly of them, it's hard to go wrong, right, So the pieces of the business that she ran, it was always like she is the best person to run those parts of the business. And I think likewise the pieces that I ran, That's how she thought of it

as well. So we reach doing so much and working so much and so clearly like bought in that it wasn't really a question of like who gets to do this or who gets to do that? There was way too much to do. It was just like if you you know, if could take it on your plate. So we didn't sink is what it felt like you would, um, but the foundation of respect, a ton of communications and just like then realizing, yeah, we're having more fun doing it together. So there was never a tough point. There's

always tough points. I mean there's tough points with like any relationship. And I think at the end of the day, like forcing yourself to have sometimes weekly conversations whether there's anything good, bad or otherwise going on, to like keep the dialogue going and then you just be like super candid honesty. But like we lived through so many moments and experiences. I'm jen still running the business. She CEEO of the business I'm still on the board of the business.

We still talk both as friends and as business partners, like at least weekly, if not, like I probably text with her daily. Right, So I think this underlying like respect these moments that you've been through, um, Like she is the best, but she's always been CEO. I've always wanted her to be CEO because that is how our business will be the best business. Like, That's how highly I think of her. And there's many things I know She's thought that I was the best person to handle

in the company as well. How is she living without you? Well, we do still interact a lot. Um. I didn't leave until I really felt like I had built an amazing team around her. Sum, I don't think. I mean, first of all, from a financial perspective, when I went and joined Mark at Walmart, Um, I you know, I would have never felt good about leaving, but that I knew the company was in a good place and that she

had the right team around her. So I just helped her hire like three really strong people in the leadership team, and things were ticking and cranking, and I knew it would be fine. Right. Can you tell me about that moment though, deciding oh my gosh, to go do something different, and that first conversation or was it something that was kind of like, once I get us to this point,

I'm going to build something else. Well, So one thing I think that helped was throughout the life the business when we had we would have often conversations on our life goals or ambitions, our aspirations, including from the beginning when Jen was like, I really want to be CEO and I was like, great, I think you'd be amazing and SEEO right, And so she very much knew and we would talk about the fact that I had this serial entrepreneur tendency, meaning that like I always loved like

ideating starting new things, and so that at some scale of the business it might not be my forever thing, where Jen was like, I'm in this forever, like this is my lifelong child like passion, you know. And so we had that understanding behind the scenes for a long time. Now what we were able to do is I laded business development for a period of time at the business, which meant that Jen was running the day to day

and I was like, what's coming next? Kind of what Mark was doing for Walmart right, especially with the incubator that we set up store number eight. It's like you have the day to day and then if you have a pot of people who are thinking about the next steps. And so through that business we launched our retail stores UM, and we launched our subscription service through that business development. So I was kind of running like a mini startup focused on the future with and Rent the Runway for

few years, UM. And I think because we would always just talk about, honestly, like what our natural skill sets and passions were. It wasn't a huge thought shock. It was a conversation around like what was the right timing so that like I could do what I wanted, but also so it was the best thing for the business. You are so positive, Um, what is what I was like, can you talk to me about like a low day

Rent the Runway. It's still everything's great and it's awesome, but there was just a tough COVID is hard, right, COVID run the Runway and for your business, Like those are hard moments, UM. I think you know. So this was not that long ago. I was dealing with it as a board member and as a friend and something last big skin and really hard for the team. You know, I think the flip side positive of that is if that team can live through COVID, it's like you can

live through anything. If that business can survive COVID, then you can. Like we were literally running a business that was based on getting dressed for special events in a moment when people didn't even need to get dressed, let

alone have events. So it's like, if you could live through at it's like all those things that you thought were problems like falls by the wayside, and so I see it now on like a weekly basis, issues that I think would have stressed Jena, would have stressed the team out, roll off your back, and it's like that's what I say about having kids too. It's kind of like you learn not to sweat the small stuff and like to like funnel up where you want to spend

your time and your energy. Um, but that for sure was a hard period of time. I mean I think that like for UM, for jet Black and the business we started for Walmart, like hard that they decided not to keep the consumer facing part of that business. So the text platform that we built to enable text based commerce is something that they leverage and so from a impact on the world in Walmart. I feel great about that. I feel like shopping over text and conversational commerce is

like the future. Um, but there were really pieces that I feel like we're delivering to a consumer that I miss on a daily basis as a consumer, and that I hear from our customers all the time that they miss So that like it feels a hard moment or like an itch that I just need to scratch. And I try to think of it that way that it's not like it's not as much of them sad about it is just like something I yet to tackle in

my career. What is a just thinking about this? What's a good piece of advice that someone gave you not to do where you follow the advice and thank god they gave it to you. Okay, So two things that come to mind. One is don't give up. So you know, the first meeting that Jen and I took with the designer was Diane fon Furstenberg hated our concept. I left that meeting like, well that was fun for a few days.

Like the business. We we barely just started talking about it and Jen was like, no, she just told us all the things that were wrong, and now we know how we need to reframe our sales pitch and go back to the table, right and so like this no, no, it means not right now or just you know again the reframing, like I said, you know, I get to be a mom or like hey, we get to receive this amazing feedback from this really famous fashion designers and

now we can build anything stronger, right, Like I think that lens has been really important. Um. You know another thing and I now give this advice is not to hire someone unless you feel super psyched about it. And it's often so right, so tempting when you feel a hole in your organization or you need to let someone go. What I mean logistics at Runt the Runway, we needed to let two key people go and we had no one else to run the business. And we were like,

that's how I wound up running logistics. So for better or worse, I think it was the best and I know it was the best answer for our business. It can be painful sometimes, but like you need to find the right people. You need to like fire when you know they're not right, and you need to wait to hire until you're so excited about the person, and then everyone has to be excited about them, right, everyone should

be yes, especially early on. I mean at some point, however big the company is not everyone can know them. Or you have different cults. You know, we have somewhat of a different culture in our warehouse and logistics versus our customer service versus the home office versus our retail stores. Like so it starts to change a little bit. Where do you see opportunity the future? Right as somebody who because you you change the world of fashion right totally.

You brought fashion technology together in a way for women people now that have never been there before renting clothing. So two areas that I find really exciting. One is what i'll call like infrastructure enablement. This idea that there's certain parts of your business that are going to be like the differentiating thing, the most important thing of your business that like that is the core of what you

need to get right. Sure, there's a lot of other things that like you can plug and play, you can outsource, you can buy from someone else. That ecosystem is getting better and better of the pieces you can plug in. So think of Shopify for example, Like you can get a website up and running in an hour. It's pretty good. Now to shop by apps that like you can plug in to do more and more things and customize it

more and more. The pace at which everyone is moving because of these tools like requires you to have more and more of them. So you know this company I mentioned earlier, Cube Financial, it's like a financial budgeting planning tool. Um that like it's much more plug and play than like Microsoft Excel in terms of just letting you get up and running more quickly. Right, you should have um you have Carter who's helping you do like legal share management.

So these like infrastructure enablement, plug in play solutions is one area I find particularly exciting, and that one also I think is fun because it lets you as a creator, like this whole world of influencers, Instagram, etcetera. Being a creator if you wanted to start a business. You know, Emma Chamberlain started a iced coffee business, right like she can just go on Shopify. I think more and more the supply chain of like how do you make icce coffee?

Like she needs to be good at what she's good at, like her brand, how she talks about it, how she's going to market it, but all the pieces around it, like she can now build a whole business off that platform and doesn't really have to do much except for what she's uniquely good at. Right, So so that's part of why I love that that infrastructure enablement. Then another one that I find interesting is just old school, like

viral marketing and brand marketing. Paid marketing, paid acquisition has gotten so expensive, especially recently with like the changes and the stands around privacy, like and it's like there needs to be a different way, And so we saw that with run Through one Way, Right, I gave you the example of just like the viral word of mouth marketing is being so much more powerful, authentic, it cuts through

the clutter. We were also marketing for our designers, so the idea of wearing a dress from a designer, having that experience talking about it actually helps the customer eventually buy from that brand. So I think finding these authentic different ways to market college campuses, how bumble started right, Like that tap tap into this conversation. Starters are the most powerful, and like, that's what I look for in

a lot of businesses. Did you ever think about affiliate partnerships with those designers that if that customer then comes back and buys at another store, somewhere right that that name is attached and you own that client. Yes, so we we have. Um. I even at one point was like, sometimes it's hard to capture it because someone might buy the store and as you're seating, I was like, can they bload a receipt and maybe they get a site credit? Yeah, indirectly,

you know, we've done click through partnerships. We do have an affiliate program UM where you can kind of I don't think we're capturing all of it, but these brands are seeing enough of a feedback loop in terms of the performance of their products, what customers are saying, as well as a lift in their sales, as well as real revenue that we're driving. So it exists. It's it's hard to track. I wish it was easier to track,

but it was somewhat of a line item. Yeah. Yeah, and and something we've iterated and talked about a bunch, right, I'm sure. Yeah. I have one last question for you. Can you describe for me your best day two years

from now? Um? So, the best day two years from now is this business that Stealth business is raising not only like maybe their Series A, but you know, first of all, hopefully they don't have to raise a series be raising money isn't always great, but it's just like rocking and tacking along and it has a ton of customers and is making millions in revenue and it's like a party, just crushing it. Yeah, we're doing a big

party for them. I'm taking actually the founders out tonight to celebrate because we just closed the initial like seed funding and they worked for me before, so like part of it is just I'm so proud because like I've seen them in own them for years and they gave so much to me to be able to try to pay it forward and to see the success for them now and like you know how exciting it is when you get that first term sheet and funding and to be like leaving a job at a big corporation to

take the sleep of they can risk and it's real and it's happening for them, and so it's like, in this weird way almost like more rewarding seeing it for someone else. Um. So yeah, I just right now, I think I'm pretty focused on getting them to their next

stage of success. One thing I say to entrepreneurs is and like create an email address that's just like memories that Rent the Runway dot com memories, is it right, and just copy it on stuff like like moments right that you have no time, Right takes you no time. You can send photos, you can just copy it. When you're sending something to someone else, you're sending a board update with the key milestone, a partnership meeting, and like emailing with Dan Dan when person and then like, at

some point you'll go back and look at that. In the moment, it is so hard to realize and appreciate the amazing stuff that's happening, and so like, now if that lends looking back a Rent the Runway, it's like one thing I tell all founders what's to do. Big Money Energy is hosted by me Ryan Sirhant. It's produced by Mike Coscarelli and Joe Loreesca and executive produced by Lindsay Hoffman. Find more podcasts like Big Money Energy on the I Heart Radio app or wherever you get your podcasts.