Locked

My name is Rosie. I'm a co founder of Fat Lama, the first insured peer-to-peer rental site for 'stuff'. Ask me anything!

Fat Lama
Sep 14, 2017

Fat Lama is the first ever fully-insured peer-to-peer rental website for stuff. Our users are changing the way we own things, by lending and borrowing locally. We're used to renting out our cars, storage space and spare rooms - our users are unlocking a new area in the 'sharing economy' by lending their gear - from HD video cameras to road bikes.

Some of our users are paying their rent (and more!) entirely with their lender earnings - we're excited to see where this new sharing economy trend leads! We've also just returned from taking part in a San Francisco based accelerator scheme called Y Combinator. I specialise in operations and marketing here - AMA!

rosie with blackboard and llamas.png

What is the Vibe of this AMA? What is AMA Vibe?

Comments are locked

Conversation (67)

In three easy steps and under a minute you could be hosting your own AMA. Join our passionate community of AMA hosts and schedule your own AMA today.

Let's get started!

I saw someone rents out lego bricks. Is there an inventory of pieces or how does that work?

Sep 12, 11:11PM EDT0

Hi Tina!

It's completely up to the lender! Some may want an inventory as you say whereas some don't mind as much. Whatever works best for them.

Sep 13, 4:53AM EDT0

How many hits do you get per month on your website?

Sep 12, 5:50PM EDT0

Hi Roberto!

We have hundreds of rentals happening all over the UK every week!

Sep 13, 4:49AM EDT0
Show all 3 replies

How big is the market for pee-to-peer lending?

Sep 12, 2:03PM EDT0

Hi Ricardo!

The potential market for peer-to-peer item rentals is huge. Companies like Airbnb and Uber really started the sharing economy revolution and we believe Fat Lama is the next step!

Sep 13, 4:40AM EDT0

What keeps you motivated?

Sep 12, 10:12AM EDT0

Hi Erica!

Believing in our mission and the team here at Fat Lama really keep me motivated and excited to come into work. Oh and of course my pet Jackahuahua called Tiz!

Last edited @ Sep 13, 7:58AM EDT.
Sep 12, 1:41PM EDT0
Show all 3 replies

How many people are currently working with you?

Sep 12, 9:28AM EDT0

Hi Mitchell!

We're a team of around 10 people but we're growing all the time!

Sep 12, 1:37PM EDT0

How do I apply for a position?

Sep 14, 12:24PM EDT0

Are there guidelines as to how much I can rent my equipment for?

Sep 12, 8:08AM EDT0

Hi Torres!

It's completely up to you how much you charge to rent out your item for. We usually recommend that you have a look at how much similar items are listed for and then use that as a guide.

Sep 12, 1:34PM EDT0

What is your biggest dream?

Sep 12, 4:25AM EDT0

Hi Sandra!

Realising our vision of creating the future of ownership here at Fat Lama!

Sep 12, 1:31PM EDT0

Great idea, great website! What gave you the idea?

Sep 12, 3:10AM EDT0

Hi Steve!

We were trying to renovate a co-working space in London but found it really difficult to keep the project on budget as we were forced to buy lots of the DIY equipment that we'd only end up using once. This is when we had the idea for a website which would have allowed us to borrow the items we needed without having to spend so much to buy them. That's when the idea for Fat Lama was born!

Sep 12, 1:26PM EDT0
Show all 3 replies

What happens if the person who rents damages or looses the equipment he rented?

Sep 12, 2:49AM EDT0

Hi Snavarro!

Borrowers are responsible for lenders' items whilst they've got them. If someone were to lose or break the item they were borrowing they'd pay for that - just like if you borrowed something from a friend!

Sep 12, 1:22PM EDT0

Have you encountered any issues with borrowers not abiding by the rules?

Sep 15, 12:42AM EDT0

Where can you see yourself in 5 years?

Sep 12, 1:38AM EDT0

Hi Julie!

In 5 years time I can see Fat Lama being available in every country in the world with millions if not billions of people borrowing and lending their items. I can see us completely changing the way that people think about the idea of ownership itself.

Sep 12, 12:42PM EDT0

Great vision!  How do I buy shares?

Sep 15, 1:02AM EDT0

How do you advertise and market your site?

Sep 11, 11:24PM EDT0

Hi Melanie!

We get the word out there about Fat Lama in a range of ways. We use Google Adwords and have been featured by some blogs and news outlets too!

Sep 12, 12:40PM EDT0

Does the person who puts their stuff up for rent get to decide how much the rental is? Where does your profit come in?

Sep 11, 10:01PM EDT0

Hi Brandon!

It's completely up to the lender how much they list their item for! You can list an item from as little as £1 a day. We then take a 15% cut from your lender earnings. 

Last edited @ Sep 13, 8:00AM EDT.
Sep 12, 12:19PM EDT0

This is great, I found your Facebook page www.facebook.com/fatlamaltd, will be available in other countries other than USA and UK?

Sep 11, 9:57PM EDT0

Hi Bbautista!

Absolutely, but we don't have any dates yet. Be sure to check the blog and our social media for updates!

Sep 12, 12:04PM EDT0

How difficult was it to make the website? How much did you have to invest for a site like that?

Sep 11, 9:43PM EDT0

Hi Alexander!

We launched in November but were working for a number of months before that to get everything up and running - every line of code was written by our own team (headed up by our Tech co-founder Owen!) so it's been a lot of work but hopefully it's paying off for our users :)

Last edited @ Sep 13, 8:01AM EDT.
Sep 12, 11:56AM EDT0

Is there a compulsory damage/theft insurance for everyone who rents out?

Sep 11, 9:13PM EDT0

Hi James!

Our guarantee covers lenders in the unlikely event of something happening to their item whilst it's being borrowed. You can read more about our guarantee here!

Sep 12, 11:51AM EDT0

How long are people allowed to borrow items?

Sep 11, 8:54PM EDT0

Hi Paul!

There's no limit on how long you can borrow an item for. As long as you and the lender are happy with the rental then so are we!

Sep 12, 11:48AM EDT0

Do you have facebook or twitter I can follow?

Sep 11, 8:10PM EDT0

Hi Oscar!

We do! We're on Facebook, Twitter, Instagram, and also have a blog!

Sep 12, 11:47AM EDT0

Have you been contacted by the press yet?

Sep 11, 7:57PM EDT0

Hi Raven!

Yes! We've been been featured in a number of newspapers and news sites including Techcrunch, The Evening Standard, and The Independent.

Sep 12, 11:41AM EDT0

What advice would you give to someone who wants to start up?

Sep 11, 7:16PM EDT0

Hi Jennifer!

One of the most important things when starting your own company is to find something which you're really passionate about to work on. Something which you'll be interested and will be passionate about not just next week but in 2, 5, or even 10 years time. If you spend close to every moment from the time you wake up to the time you go to sleep thinking about it then you've probably chosen well!

That, and there's never a good time to start, so do it now!

Last edited @ Sep 13, 8:03AM EDT.
Sep 12, 11:37AM EDT0

Thankyou! And is there anything that you would have done differently when you went about setting up Fat Lama?

Sep 14, 6:41PM EDT0

What qualifications are required to become part of Fat Lama?

Sep 11, 6:52PM EDT0

Hi Ryan!

You don't need any! Anyone can list their items on Fat Lama. All you need is something you think other people might want to borrow and then you can get started!

Sep 12, 11:28AM EDT0
About #TechAMA

Your source for anything and everything in the world of technology.  From cellphone reviews to the Oculus Rift. You won’t want to miss one AMA Event here!

Interested in participating? Our user-friendly channel makes it possible for anyone to create an AMA on just about any imaginable topic that’s relevant to technology--and you. Just click the button on top right called CreateAMA.

The #TechAMA channel is owned and operated by AMAfeed, LLC.