Latest / Giant Robots Smashing Into Other Giant Robots / 439: LOANHOOD with Lucy Hall

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439: LOANHOOD with Lucy Hall · Giant Robots Smashing Into Other Giant Robots

• CHAD: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Chad Pytel. And with me today is Lucy Hall, the Co-Founder of LOANHOOD, who are changing the face of fashion. Lucy, thank you so much for joining me. LUCY: Thank you so much for having me, Chad. CHAD: How are some of the ways that LOANHOOD is changing the face of fashion? LUCY: So we're starting off with a peer-to-peer fashion rental app, which we just launched ten days ago now. CHAD: Congratulations on the launch. LUCY: It's been a long time in the making. And, like I said, we're starting with a fashion rental app. But there are so many different ways that we want to change the face of fashion. It definitely needs a facelift. CHAD: What caused you to start with the rental platform? LUCY: It was something that we were really passionate about. So my co-founders and I actually worked in the fashion industry for the majority of our careers. So we could see first-hand how it was changing, how it's developing. And sustainability started coming into our lives, and we could see that things had to change. And we know that the fashion industry is quite archaic. Big fashion businesses are like these huge ships. It's so hard for them to change their course and to actually implement sustainability into their supply chains or their values. And we knew that we could do it quicker and better and faster than them. So we started testing the idea of circular fashion by doing clothes swaps which is a kind of an entry-level way to circulate fashion for free or relatively cheaply. And we started getting this amazing feedback from people like, "Oh, we would love to do this again. And have you thought about monetizing it?" And, of course, that was our...to get to scale, we knew that we had to monetize this sharing of clothes. And that's how our peer-to-peer fashion rental app grew and was born. CHAD: That's great. So you have two co-founders. LUCY: I do. CHAD: Jade and Jen. Were the three of you working together at the time? LUCY: Funny story, Jade and I are actually best friends. And Jade was my model back in the day. So Jade has been a fashion model for 12-plus years. And she was on Britain's Next Top Model. And I was a model agent. She came into my agency as one of the runner-uppers, and we forged a lifelong friendship from there. And we've both been passionate about fashion. And then, as I said, our career paths, we could see the detrimental effect of the planet. And Jade decided to go back to university and start studying. She did her master's in fashion futures at London College of Fashion. And that's where she started seeing sustainability. And the idea of a peer-to-peer rental came from that course. She was studying the future of fashion, and she knew that this was the only way we can move forward. And Jen was a friend of Jade and is a graphic designer by trade and is an amazing brand builder and amazing designer. So we were asking her for some advice. And she came on as a co-founder at the beginning because she just knew this was the right path for her. CHAD: You started with these swaps. Were you doing the swaps as friends because you felt it was the right thing to do? Or did you have an eye towards this could be something more? LUCY: Well, we knew from the beginning that we wanted to do something big. We knew we'd got to a certain point in our careers where we were like, right, let's use our skills to really make a change. But we were also working, and we all had jobs, so we were kind of doing it as a side hustle, just testing the idea and going, "Oh yeah, we'll do this." And then it started picking up, and we got a contract with a local council. And we were like, wow, people are really interested in this. Let's keep going, and then the pandemic hit. CHAD: How did the pandemic affect you? LUCY: [chuckles] Well, as you can imagine, people weren't really doing clothes swaps or renting or even thinking about those things at the beginning of the pandemic anyhow. So we kind of just put it on hold and did what everyone did in the pandemic, hunkered down. And we started learning as much as we could about the circular economy, about sharing economy, trust economy, marketing, product, really teaching ourselves from the bottom up what it takes to make a global brand. So we were quite lucky in the respect that we had that time away to really hone our skills and focus on what we wanted in the long term. So post-pandemic, when we came out of the lockdowns, although there were multiple back and forth, as you know, it was definitely a stop-start for us, but we knew that it actually...it just allowed us that time to really focus our minds on what we wanted and a long-term plan, not just like, oh, let's try this out. We know what we want for the next 5 to 10 years, basically. CHAD: At what point did you decide, okay, we have to make an app? LUCY: It was a difficult one because we thought Shopify, Sharetribe there are all these amazing platforms. You can just get a business at the click of your fingers. However, for peer-to-peer fashion rental, it's a much more complex model. Even Sharetribe, which is supposed to be for those kinds of models it's not as detailed as we needed it to be. So we tried to build a website from scratch. And, again, we just knew that we're very much focused on Gen Z. And when we were talking to our audience, we knew that they wanted an app. So we just scrapped it and said let's just go for it. But having no technical background was a real difficult decision for us because we had no funding. We'd all just left our jobs. The pandemic had happened, so we didn't have any savings really. So we had some money from the clothes swaps. And we did a rewards-based Crowdfunder, and we raised £14,000 from friends and family in our community that were buying free rentals for the future and just believed in the mission that we were on. And we were able to get that £14,000 and put it into the start of building an app. And as you're aware, apps cost a lot of money. CHAD: [laughs] LUCY: We didn't get that far. And we learned a lot of lessons with the build because we tried to project manage it ourselves. Having no technical background, that was tricky. And we offshored it to a team in India who were lovely and amazing but not as skilled as we needed them to be. Because we had no technical background, we really needed somebody to lead that for us. So we had a starting point, but we knew that we had to actually get a technical lead on board pretty soon. And we were lucky enough to find a partner in a company called ON, who are based in the UK. And with them on board, they led the tech from there on. CHAD: Continuing to work with that team in India, or did they actually provide the entire team at that point? LUCY: We switched to another offshore team because it costs so much money here in the UK. CHAD: So when was this all happening? LUCY: Last year, mainly. 2021. CHAD: To give folks an idea, you make the decision to start building an app. You start doing that in 2021. You just launched. But your business is more than just the app. Were you right up to the wire with the app being ready? LUCY: Like you said, we're building a community. And what we learned from the pandemic is that you can't rely on one part of your business to help you succeed. You need multiple things. And what we're passionate about more than anything is community. And what we found with the fashion industry is that it can be quite elitist. And if you want to work in the fashion industry, you have to move to London or New York or Paris, and you have to probably know somebody in the fashion industry, and we wanted to change that. We wanted you to be able to start your own fashion journey wherever you are based. And what we also saw was that all this money that people were spending on fashion was going to big fashion businesses and to probably one guy at the top of that chain, whereas, with peer-to-peer rental, you can actually circulate that money within communities. You're lifting communities up so they can create their own sustainable fashion future. So what was really important to us was to have community as one of our main pillars going forward. CHAD: And how have you gone about building that community? LUCY: Organically so far, which has been really nice. And again, the events that we do have been part of that. But to scale, we really need to start building out ambassador programs, referral systems that can help us hit those kinds of network effects. CHAD: So I know you're only in the UK. LUCY: Correct. CHAD: What are the limiting factors to expansion beyond the UK? LUCY: Money, obviously. CHAD: [laughs] Okay. LUCY: We’re on a funding journey at the moment, and that's a ride for sure. So we kind of use the Depop playbook. Do you know Depop? You're probably over 25, so that's probably why you don't know it. CHAD: [laughs] Yes. LUCY: A third of 16 to 25-year-olds are on Depop in the UK. It's the 10th most-searched-for resale platform in the U.S. And they started off in the UK, and they organically grew into the U.S., which is nuts. We probably won't do that, of course, but we plan to go to the U.S. potentially next. But it depends on investment, on what our audience is saying, where they're based. What we find with our audiences, the universities that we partner with we have a lot of international students. So they're taking that idea back to their hometowns, which is really interesting. But on a tech front, going into the U.S. is easier because it's an English-speaking country. Going into Europe is a bit more complex because you have lots of different languages, although you have one single currency, which is helpful. CHAD: Since your model is peer-to-peer, individuals are sending the rented item directly to the person who's renting it, right? LUCY: That's correct, yeah. CHAD: And so I suppose one potential barrier is you don't need to be able to receive centrally or to handle things in the United States. But you need enough people in the U.S. to make it worthwhile for individuals to be sending each other things to have enough rentals and activity. LUCY: Always, the problem with the marketplace is the cold start problem. There is a great book by Andrew Chen called The Cold Start Problem. And we really need to build both the supply side, which we call the loaner, and the demand side, which we call the borrower. So we have been working really hard in the UK to get as many of the supply side on board because we know the people that we want to be on the platform, so emerging designers, young makers, and creators. And because we have our fashion backgrounds, we can identify those people quite quickly. And we've done things that are totally not scalable, like messaging them on Instagram and scouting people in the streets. But as a small startup, you kind of have to do those scrappy things as well just to kind of build the supply side. CHAD: Right. And I think that's why so many marketplaces end up focusing on particular geographies even if they could expand because that focus helps you do those unscalable things that you need to do in the early days to bootstrap that community that you need for the marketplace. It hadn't occurred to me until you just said it that I've been thinking that this would totally be individuals, but for an emerging fashion designer to be on your community offering up their clothing for rental, that hadn't even occurred to me as a possibility. LUCY: Something that we're passionate about, especially post-pandemic, a lot of young people that are either at university and didn't get the real university experience had to make some extra money started these side hustles of teaching themselves to crochet or teaching themselves to knit. And now they have these amazing pieces, and they're open to renting them out as well as doing their retail side of it. And what we found from the resale people, so the Depopers or people on Vinted, was that they'd get this kind of seller's remorse. So they'd upload the item, take amazing pictures, and they'd sell it once. But with rental, you upload it, and you can rent it out over and over and over again. And you still get to keep it and wear it yourself, so a bit of a no-brainer. CHAD: Yeah. So you went on the journey of creating the app, creating the community. You've just launched. So are you actively fundraising? LUCY: We are actively fundraising. We're just closing our pre-seed round. And we were very lucky to have an incredible lead investor come on board. He just got the idea instantly. What we found difficult is being female founders who don't have tech backgrounds; it's definitely a couple of negatives against us. [laughs] But we're going to use it to our advantage, and the people that are on the journey with us now 100% are behind us and believe in what we're doing. Because we're an impact business as well as we want to have profit alongside people and planet, that's what's important to us to make impact socially, environmentally, and through the industry. So the next step of our fundraising journey will be a crowdfund, an equity-based crowdfund. So we did the rewards-based crowdfunder last year. This year, it's going to be equity-based because we really believe that we're building this platform for our community, our audience. So they should be able to invest in us and come on that journey with us. And hopefully, the business grows to huge proportions, and that they can get some money back out of that later in their lives. CHAD: Are you going to be using a platform to do that? LUCY: We are undecided, although I'm leaning over to between one and another. There are only two platforms really in the UK, so Seedrs and Crowdcube. And I've spoken to some other founders that have done both platforms. And I've spoken to both the companies. I've looked at articles trying to find which one's the best fit for us. One interesting thing that we had with the Crowdfunder was we were deciding between Kickstarter and Crowdfunder UK. And Kickstarter is very much more focused on men, more sports, definitely a male demographic, so that's why we went with Crowdfunder. With Seedrs and Crowdcube, they don't have that; it's a very equal split. So it's just on the feedback that we've had from other people that have used those platforms. So I'm leaning towards one, but I won't say yet because I haven't fully decided. CHAD: So you're only allowed to do that with people in the UK? LUCY: I think it can be global, actually. CHAD: Are you planning on having it be global? LUCY: We have friends and family all across the world. I spoke to somebody today in Lithuania. I spoke to somebody the other day in Australia. I speak to people in the U.S. all the time that are like, "When are you coming to us?" [chuckles] CHAD: Yeah, that'll be interesting; the fact that you're able to do the equity crowdfund anywhere, but people won't be able to actually use the product right away. You know, it's sort of a catch-22; you've got to have one before you can have the other. And so, hopefully, people go along on the journey. LUCY: Chicken and the egg. We need the money to build the tech, to build the audience. But we need the audience and the tech to show the investors that we've got engagement and traction. And yeah, there's always something. I think we're doing pretty good. MID-ROLL AD: As life moves online, brick-and-mortar businesses are having to adapt to survive. With over 18 years of experience building reliable web products and services, thoughtbot is the technology partner you can trust. We provide the technical expertise to enable your business to adapt and thrive in a changing environment. We start by understanding what’s important to your customers to help you transition to intuitive digital services your customers will trust. We take the time to understand what makes your business great and work fast yet thoroughly to build, test, and validate ideas, helping you discover new customers. Take your business online with design‑driven digital acceleration. Find out more at tbot.io/acceleration or click the link in the show notes for this episode. CHAD: You mentioned that your three female founders have faced some bias, it sounds like, especially in talking with potential investors and seeking to grow your community. How has that been for you? LUCY: You know, I don't want to put it down to being a female founder. I actually think the statistics tell us that, unfortunately. But I think what's the problem is that most of the people that I speak to in investment, either VCs or angels are guys, middle-aged guys between, say, late 30s to the 60s, and they are investing in businesses that they get. They don't generally get a peer-to-peer fashion rental app for Gen Z. They're like, "Oh, they're going to want to ship things to each other, and like, what about the packaging?" And they've never heard of Depop. It just got bought by Etsy for $1.62 billion. It's a huge industry, and rental is just an evolution of resale. And they're like, "Oh, okay, kind of get it," but they don't really. We have to hand-hold them a lot through the pitch deck and get them excited. But that's, the problem is that we don't have enough women in the investment space or ex-founders. I know in the U.S., it's a lot different. They have a lot more ex-founders investing, especially angel investors, which is great because they get the journey. Whereas if you have somebody with a financial services background, all they care about is the math of it. And it's like, you know what? Startups don't always just succeed on the math; it's the vision, it's the idea, it's the network effects, it's the audience. There are so many different things at play here. And if you've never started a business yourself, you just don't get that. CHAD: There's a lot that goes into creating a company. And it may not be the fact that your female founders directly contribute to it but in an environment where they're looking for a reason not to invest. LUCY: Exactly. CHAD: That bias can creep into all of the excuses or differences that someone might point to and say, "Oh, this isn't going to work," or "I don't get this." LUCY: 100%. If you've got a good business idea and you've got a strong pitch deck and a strong financial model, then that business will do well, for sure. However, there are so many other factors at play. And when there are so many great businesses competing against one another, they unbiasedly go with one over the other. CHAD: So you also mentioned you have another excuse that people might use is you just don't have a technical founder on the founding team. LUCY: That's definitely a struggle. We will be bringing in a CTO later in the year, which will be really exciting because it's definitely the missing piece to the puzzle. We have domain expertise in fashion. We have that side of it down. But yeah, the technical side of things, I think all the founders that I have spoken to that do have a CTO in the founding team or even have brought their technical team in-house just say it's a game changer. When somebody is invested in your company, and they're using the platform every single day, they can see the bugs. I mean, Chaz from Fat Llama, which is a great rental app, said that his developers would pull out a laptop in the pub and be like, "Oh, I just saw a bug. Let me quickly fix it." I mean, wow, that would be insane. Our developers finish at a certain time, and that's it; they're gone. So if we have a problem on an evening or even because they are in India they have a different time, we can't get hold of them. It's so frustrating. CHAD: So when you start to build a team, will you be doing it based in the UK? LUCY: Or based in Europe, at least. I think another thing to come out of the pandemic is this remote work, and I think that's great. I think there's so much talent across Europe, across the world. But for the timezone issue, I think Europe is definitely a better fit for us because we don't want to be having the same issues that we're having now with the time differences with India. But yeah, there's so much talent across the whole of Europe. CHAD: Yeah, that's what we do at thoughtbot. We are all throughout the Americas, all throughout Europe, Middle East, and Africa. We've built our team. But we're grouped in by timezone. So people work with clients and with each other. And there, it's based on the timezone that they're in. And so that does make a big difference around how communication can work and how a part of the team you're able to feel because you're online at the same time as each other. LUCY: Yeah. Definitely, that's a great show. CHAD: But I definitely recommend casting as wide as possible. It definitely allows you to hire the best person for the job. LUCY: Yeah, I think we need to find somebody that's passionate about the mission and who understands working with three co-founders that don't have a tech background that we probably do need a little bit more hand-holding than another founder would. We're learning so much as we go. Hopefully, we'll be coders one day. [laughter] CHAD: I actually don't think that. Some people might say, "Oh, you really should learn to code yourself." And I think that that does a disservice to what you are bringing to the table with your domain expertise and with your ability to really understand the industry and know what needs to happen from a business perspective. LUCY: Yeah, I would totally agree. You can't be an expert in every part of the field. You can't be an accountant; you can't be a CTO. You need to be good at exactly what you do. And I'm the CEO, so I have an overview of everything. And that's what I love is kind of have a little finger on each little project that's going on and really get an understanding of across the board. But you need those people that are drilling into, like, we have my co-founder, Jen, who's a graphic designer by trade, but she's our Chief Creative Officer. And she really drills down into the creative side of things. And she knows what she's talking about. And she is the expert in that, and that's so valuable. CHAD: And I think that that's the important thing to founders to do early on is to really understand what their product and business are. You don't necessarily need to learn how to code. But I do think it's a mistake when early founders start stepping away from the product too early. LUCY: Yeah, you need to be super close to the product. And you need good communication across all different divisions. So marketing and product have to talk to each other all the time, so we can tell our audience what's happening in the product, and then we can build the features that we need to grow from the marketing side of things. It's all about communication. And it's so hard as a startup because there are so many different things going on and so many people pulling you from left to right. There are metrics to hit; there are bills to pay, there's audience, the community to keep happy. And it's like, oh, you can't drop the ball on anything. You really have to just do as much as you can. But if you communicate to each of those stakeholders, we're doing our best. I mean, we had a mail-out the other day that said this is a business built by hands. It's built by people. I know we're a tech company, but there are real developers there hammering on their laptops. We're all here writing the copy and doing everything that we can to make this the most successful business so we can make real impact on the climate change and communities. CHAD: I want to talk about that impact, but before we do, I'm curious, so you're all in the same general London area? LUCY: No, we're not, actually. So Jade and Jen are based in London. And I actually moved out of London a couple of years ago, and I live in New York in the north of England. CHAD: Oh, okay. LUCY: See, definitely a different dynamic. And another reason why I'm passionate about bringing the fashion industry outside of London is because I travel up and down all the time, and I'm lucky it's like an hour 50 on the train. But that becomes expensive, and it's difficult to travel all the time. CHAD: So, are you meeting in person with each other? LUCY: We try. I just saw the girls last week. I'm seeing them again at the weekend. We speak every single day on Slack, WhatsApp. We have weekly calls, and we jump on pretty much video calls to each other every day. And that's, again, another thing from the pandemic that's been a game changer. Because when I actually left, it was just before the pandemic. We were like, oh my God, how is this going to work? But I knew that it was the right decision for me. And then the pandemic hit, and everyone was on video calls. And we were like, oh, this is so easy. This is great. [laughs] CHAD: Yeah, it really opened that up to everyone's expectations. LUCY: Yeah, and I think it's great. I think it's much more flexible. And we will get an office for sure. But I would love to have an office here and an office in London so we can have teams across the nation. Because I think we don't all have to go and live in a capital city to get the same out of the fashion industry. CHAD: Yeah. So let's talk about sustainability, the environment, and climate change. I am somewhat aware that an enormous amount of resources goes into creating new items of clothing. LUCY: It's crazy. So the fashion industry accounts for 10% of the global greenhouse gas emissions at the moment. And if nothing changes by 2050, it will use a quarter of the world's carbon budget. It is insane, and it affects not only the planet but people. The garment workers are paid nothing. They're treated badly. And this is all part of the supply chains of fashion businesses. And like I said, when I started in the fashion industry, e-commerce really was only just starting, and Jade, who is the model, was working for Asos, which is a big fashion brand and big fast fashion brand. So when she started working for them, she was shooting like 10-15 items, 20 items a day, and when she left, so five years later, they were shooting like 70 items per day. They were just churning out more and more fashion, more options. And you can imagine most of the clothes are made...well, we have this whole disconnect about clothes. So I actually had a restaurant for three years in between my fashion career. And that's where I found sustainability because you have that connection with food. And you know that eating organic or eating locally and seasonally is better for you and better for the planet. But nobody thinks that your clothes come from the ground. They're made from plants. Or if they're not made from plants, they're made from oil. It's nuts that people don't have as much education around it. And that's partly because the fashion industry doesn't want people to know, and it's a lot of smoke and mirrors. It's a very opaque industry. We went to one university, and they said that they thought all clothes were made from machines. They had no idea that there was cotton and linen. And so, like, wow, this is crazy. CHAD: So given that it's the magnitude of the size of the problem but also the industry, there are two ways of looking at that, I'm sure, one is the potential for your impact is huge. The other is how do you get started? How can we have an impact there? So how are you tackling that? LUCY: I get asked a lot by people, like, how can I start my sustainability journey? I feel so much pressure to do things. I should be vegan, or I'm not recycling enough. I got a plastic bag, oh, I feel terrible. And it's like we are all on a journey. And you just have to start one day at a time and just be more conscious. So whether that's instead of buying one dress for a wedding that you are probably just going to stick in your wardrobe, why don't you rent it? Try one of the platforms that are out there, and you can rent a really cool dress, and that's probably someone else is going to rent it, and someone else is going to rent it. And by prolonging the life of an item, you can save so much energy and water. And those small things that we can each do will make a huge impact globally. There's a lot of mindset shifting and behavioral change that needs to come with rental. As we saw with Airbnb when they started, people were like, "Oh God, I don't want someone sleeping in my bed," and now I Airbnb in my house all the time. And it's a great source of secondary income, especially for a startup founder [chuckles] but also giving people the opportunity to have these experiences in small communities, which I love. And that's what we want to see with fashion is that people will start being more conscious. And how LOANHOOD is different to other more traditional rental systems is it's much more affordable. And it's much more accessible because you can meet in person. So how we see it growing is these hyperlocal communities where you can meet people in person, a bit like Facebook Marketplace. They've done super well in more of the suburban areas. You can drop off your dress to somebody around the corner. So you're reducing the cost of delivery and reducing the emissions by meeting in person. So those hyperlocal communities will be really important in helping people adopt this behavior. CHAD: Are you worried from a business perspective that if it's just renting to someone around the corner that they might not want to do it through LOANHOOD? LUCY: I think people will still do it through the platform because of the added value that we give, you know, rental protection. I could go and borrow people's clothes like my friends in the area. I wouldn't do that. I might do it once or twice. I think if it's not somebody that you're really friendly with, then you would definitely do it through the platform. CHAD: Yeah. And by rental protection, you mean if something gets damaged or that kind of thing, it's protected. LUCY: We don't have full insurance yet because, again, the sharing economy is a new economy. And, of course, insurers are very old school. And it's hard for them to grasp the fact that there's a new industry here, but that is changing. And as soon as we have more data, we'll be able to get full insurance for these items. But right now, we do it in-house and protect items, minor damage, or repairs. And if it isn't returned or damaged beyond repair by the person that's renting it, then they have to cover the retail price of it. CHAD: Yeah, makes sense. What's beyond rental platform in terms of this is where you decided to start, but your goal is to change the face of fashion? What's beyond? LUCY: There are lots of different verticals that we can do within rental or in fashion. So we're really passionate about digital fashion. Jade, my business partner, is actually doing her Ph.D. in digital transformation in the metaverse. So how can we bring sustainability and ethical practices into the metaverse with fashion is something that we're really passionate about and something that we're exploring, renting different things so femtech, or skiwear, activewear, all those kind of things and then just creating a space for our community to grow creatively. So entrepreneurship is really important to us as well, and giving people the opportunity to be...especially Gen Z they have this way that's called pay to create. So they're passionate about making money out of things that they can do themselves, whether that's creating content, renting out the things they own, upcycling. We want to expand on that and give them the tools to actually create their own career paths. You don't have to go down the traditional university routes. We see a world where there's a LOANHOOD campus where you can come and learn how to be content creators or all sorts of different things. It's a really exciting time. And our 10-year plan keeps getting more bigger and bigger. And we're like, oh God, it's just exciting. CHAD: Yet do you worry about spreading yourself too thin and compromising on the early steps? LUCY: We always come back to the point of why we're doing this and who we're doing this for because what's the point? Otherwise, we're doing this to reduce impacts of the fashion industry on the planet and people. And we are doing this for our community and to give them the options and give them the power back. As we've seen with governments around the world, people in leadership roles are not doing enough, and we can't rely on them. So if we want to create our own sustainable future, we have to do it ourselves. And we want to give people the tools to do that. CHAD: Well, I wish you the best of luck in that. I'm very confident that you're going to have the impact you're looking for along the way, and I wish you the best in that. Thank you for stopping by and sharing with us. I really appreciate it. LUCY: Thank you so much for having me. It was great to chat too. CHAD: If folks want to find out more or get in touch with you or follow along, where are all the different places that they can do that? LUCY: Check out our website, loanhood.com. If you are a founder and you want to talk about funding or building a product, marketing, you can email me lucy (L-U-C-Y) at lucy@loanhood.com. And we are on Instagram and TikTok @loanhood. CHAD: Wonderful. You can subscribe to the show and find notes which include a link to everything that Lucy just mentioned along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter at @cpytel. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks so much for listening, and I'll see you next time. ANNOUNCER: This podcast was brought to you by thoughtbot. thoughtbot is your expert design and development partner. Let's make your product and team a success.