Partly this is a matter of tech folks growing up a bit, partly better access to capital, and partly increasing amounts of business savvy in the startup community.
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Nobody applied to YC 10 years ago with “You know what sounds exploitable inefficient? Corporate housing property management.”
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I'm not terribly familiar with corporate housing - what does the underlying stack look like?
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In this case it’s furnished/serviced apartments. (Like, Zeus actually has couches on the balance sheet.)
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I’m not so sure. These business have radically different capital requirements and don’t necessarily fit the high margin VC model.
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I think you can probably be pretty creative on the capital here if you get the model right. (That's the name of the game generally in property management: landlord and bank buy the really expensive thing, property manager makes service-like margins on top of it.)
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It makes sense to me (and I see parallels to
@LambdaSchool). In our diligence of this space we saw: a) that front end, digital only approaches ended up being insufficient b) existing property management approaches had poor incentives (that created inefficiency) -
Can you elaborate on both points? Would love your extensive analysis. Or really, any analysis, I’ll be happy with any insights :)
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I have colleagues that stayed in hotels M-F for *months* while on a project. They would have loved this. Not worth relocating for a ~3 month assignment, but hotels are not really well suited either.
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