News for hackers. Stuff that matters.

A comment on Launch HN: Feather (YC S17), painless furniture rental for people who move a lot. Parent comment

Re:Launch HN: Feather (YC S17), painless furniture rental fo... by sidlls on Thursday June 29, 2017 @04:24PM (#14666573)
What's wrong is the absurd fees they charge. The only difference I can see between them and payday lenders is the shabby facade of credibility they think they have by being a "tech" company. Nobody who has to scrabble for $250 for an emergency is in a position to drop a 25% vig on top of it in repayment.
[ Parent | on HN ]
Re:Launch HN: Feather (YC S17), painless furniture rental fo... by bmelton on Thursday June 29, 2017 @05:47PM (#14667142)
But if you lend to high-risk creditors, you have to have non-repayment built into the rate. As of the last time I saw an article on it, the rate of default for payday loans was something like 50%. High interest rates are there to absorb the risk.
[ Parent | on HN ]
Re:Launch HN: Feather (YC S17), painless furniture rental fo... by mixmastamyk on Thursday June 29, 2017 @04:34PM (#14666652)
(Don't know their expenses, however if they don't pay rent downtown they should be saving some money.)

High fees go hand in hand with the high risk they are taking of not being paid back. Everyone has to chip-in or the model doesn't work.

[ Parent | on HN ]
Re:Launch HN: Feather (YC S17), painless furniture rental fo... by austenallred on Thursday June 29, 2017 @04:29PM (#14666614)
What would you charge?
[ Parent | on HN ]
Re:Launch HN: Feather (YC S17), painless furniture rental fo... by jdminhbg on Thursday June 29, 2017 @06:04PM (#14667220)
> Nobody who has to scrabble for $250 for an emergency is in a position to drop a 25% vig on top of it in repayment.

How do you know?

[ Parent | on HN ]