YouSaid · the spoken record

James Reinhart

lines on the record: 54
first: 2021-05-06
most recent: 2021-05-06
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Think generally people were really kind. They said to me, Oh, that sounds like a good idea for other people. Is just code for like that's a terrible idea. I think generally people thought, well, James is smart, he must be onto something, but consistently the feedback was, I don't see how this is going to work. Who buys used clothing? Nobody does this. So I got a lot of resistance, but I kept believing that there was a big opportunity out there because 70% of what people buy ends up in a landfill. Man, there's a lot of great stuff out there that's ending up in a landfill. So I just kept going on that thread.”
2021-05-06 · Invest Like the Best · James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32] · IDENTIFIED FROM THE TRANSCRIPT · source
“I went to try and sell my clothes at the local consignment store on Mass Av in Cambridge second time around. They wouldn't take them. They said, we just do luxury. And I kid you not, I was like holding a J-Crew cashmere sweater. I was like, this has got to be worth something. And they're like, not our problem. So I went home that day with the same stuff I brought with me and I thought, man, I've got a closet full of clothes that I'm aware of. Other people have this problem. Like, there's got to be a better way. And that was really like kicked it off. I remember going to school the next day, asking all my classmates, anybody who would listen, were pretending to close in your closet, don't you wear? And nobody ever said, I wear more than 50%. Everybody's like, I don't know. I wear a third. And then I would say, like, what are you going to do with all that shit? And they're like, I don't know. Eventually, I'll just give it away. That was really like what got me fired up.”
2021-05-06 · Invest Like the Best · James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so the true founding story is I was in business school at the time. This was late 2008, and I was a teacher and educator before that, which is a way of saying I went to business school and I had no money.”
2021-05-06 · Invest Like the Best · James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32] · IDENTIFIED FROM THE TRANSCRIPT · source
“They're up some marketplace for secondhand clothing. So we kind of do two things one is we help consumers buy and sell high quality secondhand clothing, just women's and kids today through a managed marketplace, i.e. we touch all the goods. And so you can send stuff to thread up in our cleanout kit. We'll process all that stuff, put it online, and then sell it to buyers. And what we think is this incredible resale experience online. The second thing to do is we're starting to do this for brands. We have a platform called Resale as a service. So we now work with more than a dozen brands, Walmart Reformation, the Gap Companies, Abercrombie and Fitch, Throwback from My Childhood. We're powering next generation resale experiences for them. So those are kind of the two things we do. Core Marketplace and Resale as a service.”
2021-05-06 · Invest Like the Best · James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32] · IDENTIFIED FROM THE TRANSCRIPT · source