5 ms·
An interesting note here: 0.1% is 1 out of every 1000. This is not a insubstantially small number. This becomes even more alarming if it is rentals rather than
by aerophilic 7y ago
An interesting note here:
0.1% is 1 out of every 1000. This is not a insubstantially small number. This becomes even more alarming if it is rentals rather than “vetted parties”.
Seems like they should have a better process for this not so rare case.
- rebuilder 7y agoTaking that number at face value, it means that total revenue for renting 3500 USD worth of gear for 70 bucks a pop 1000 times is, statistically, 7000 USD. If KitSplit takes 22%, that leaves 5850 USD, and since the expectation is to lose the gear, that leaves 2350 USD in expected profit. Which is, I think, rather less than their users expect. Edit: whoops, total revenue should be 70 k. Kind of a different result.
- munk-a 7y agoFor extra interest... 70 * 1000 / 3500 is 20, so assuming this person was to repeat their involvement and to replace any stolen cameras then they'd end up losing about 5% of their earnings through KitSplit to theft, that's a pretty atrocious rate and seems likely to be tied to why the company is so deadset against investing time into equipment recovery.