EP075 - Third places for office spaces with Amina Moreau at Radious
About the episode
This episode focuses on the evolution of corporate real estate. Amina Moreau, founder of Radious, proposes a solution to the changing landscape in the form of third places, between offices and homes. Flexibility can become a turnkey solution for any teams with instantly bookable small- to medium-sized home-like offices, revitalizing neglected areas or sleeping towns.
About the guest
Amina Moreau is a chronic entrepreneur, having co-founded four previous companies, exited two of them, and led one of her teams to win five Emmy Awards. Radious is her next big thing, an online platform that turns residential properties into collaborative workspaces, rented by the day. When she’s not busy building Radious, you’ll find her grunting on the tennis court. Ranked #1 in the Pacific Northwest in 2019, she continues to play at a high level and finds her sense of peace crushing it at 100 MPH.
Connect with Amina on LinkedIn.
About the host
My name is Peter Benei, founder of Anywhere Consulting. My mission is to help and inspire a community of remote leaders who can bring more autonomy, transparency, and leverage to their businesses, ultimately empowering their colleagues to be happier, more independent, and more self-conscious.
Connect with me on LinkedIn.
Want to become a guest on the show? Contact me here.
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Welcome everyone to the leadership end of our podcast. Corporate real estate is changing because of distributed work. There are many players on the market now that address the new needs from customers and distributed teams. One of them is Radious who's solving the need of office spaces with what they call third places. Somewhere between the office and their homes. I have their founder with us Amina Moreau to share her journey. Welcome to the show. Really appreciate your time of being here. Super excited to talk to you. Same here.
Cool. So the first question is pretty much the same for everyone who's a guest on this show. What's your remote journey? How did you end up working remotely?
So how did I start working remotely myself?
Of course, you're personally, of course.
Oh my goodness, I was actually thinking about this yesterday because, people who are being forced back to the office right now by various companies, I feel like if I were in their shoes and I had any option to not do it I just think back to the moment when I decided I was going to be remote and I had some freedom in that decision because I was my own employer. I'm a serial founder. And so I have been an employer of both myself and others pretty much my whole career. And it was, I think in 2016 or so, we had an office that was a relatively open plan. We had some private areas, private meeting rooms, et cetera, but for the majority it was open floor plan, fixed desks, not really hot desks per se. Everyone had their own dedicated spot, but I found that struggling with parking every day was a chore in itself. And the first interaction that I had at work was already a struggle. And then when I got into the office, I was finding that anytime I needed to do a call, even if it wasn't of a sensitive nature, I wanted privacy. But in order to get it, I had to leave my desk and go to another room where I didn't have my computer set up and the ergonomics and whatnot, and I was always moving around, or I was feeling like I didn't have the privacy that I needed at my desk, and I'm also an introvert and so being in a loud room when I'm trying to focus is difficult and so eventually I just started coming into the office less and less. So instead of five days, it was four days. And then eventually it was three days and then it was two days. And then I found myself not going at all. And my partner who's in the next room, he's wait, do you not go to work anymore? And I said I work, but I don't go to the office and that is a whole other podcast episode. Let's just note how some people are using the terms return to work versus return to the office as maybe a slight microaggression to imply that people are not working when they're at home. Side note, going back to 2016, I just found myself, and it was like, it's the room that I'm in right now. In this room, I can close the door, I can have as much quiet or as much chaos as I want, because I can always invite people, but I can focus so much better. But I still had the option to go to an office or go to a coffee shop or meet with people in person if I needed to, here or elsewhere. And I found myself to be much more productive and more satisfied in my work. And now that I am running a company that is flex first and offers remote work and various options to people to choose from. It comes from a place of empathy where I can relate firsthand because I felt it.
Of course, but just to give you the listeners some context, where are you calling from right now? Not from your home, but of course, like the city.
Yeah. So I'm in my home office in Portland, Oregon, and this is where Radious is technically HQ. And I love that. Technical. Because what does being HQ'd mean anymore if you don't have an office, you don't have this big brick and mortar tower to call home? Are we HQ'd in Portland? Yes, for tax purposes, but that's it.
Of course, and it's a, it's what a huge status symbol was, by the way, or maybe it still is, I don't know in terms of how many HQs you have around the globe, where is your office located in different cities and stuff like that. Yeah, I remember I come from advertising and we also worked usually in in the open spaces like you just described previously. And that was pretty much the epitome of distraction. I hate it so much as well. Yeah. Yes.
Yeah. So it's a win, but also as an employer, I have to recognize that we have extroverts on our team. For whom working in one room for the entirety of their career and never getting out and seeing other people would be torture. And so I have been advocating strongly both internally and to the world externally for the need of a range of options. It can't just be home versus traditional office. It can't just be sync or async. We have to explore the vast range of possibilities out there because there is a vast range of needs and preferences. And I think that diversity is a beautiful thing.
Yes. And have you seen the, or I don't know, experience the, what they call the remote work is a great equalizer, which means that I'm also so I can be extrovert and dominate the scene if I need to, but I hate that and I usually operate really well when I'm like an introverted creative situation. And so I can understand what they say when they say that, that remote work is equalizing everything because it gives a little bit more opportunities and options for introverts to stand up, but it also gives a little bit of less options and opportunities for extroverts to dominate the scene because We are on the same screen as, I wouldn't say avatars, like little bubbles on the screen and that's it. So it's really hard to dominate the conversation. If you are working remotely, have you seen that too?
I, so I agree. Absolutely. It also is an equalizer in terms of people with disabilities. We've seen a lot of great statistics in increasing access for folks who have barriers to returning to the office, working moms, caretakers in general, in some cases communities of color, like there, there is absolutely a conversation to be had around access and equity, as well as the environmental component. Let's talk about that for a second, because instead of forcing people to commute five days a week to a city center most of the time Offering remote or flexible work means that we're taking cars off roads. And again, it's not to say that working from home is a be all end all, because there are so many ways and places from which we can work remotely. It's not just our home offices. But a lot of those places are closer to home than a traditional office is.
And also, I agree with everything that you just said with a side note that the car thing, like commuting by car is really American terms of, you usually commute by car to the office, but you and that's the caveat, but you still spend the same hours of commute than usually Europeans do on public transportation, for example. So I think the biggest win is actually the time that you win back that time of one hour, two hours. I don't know, just an example. Most of my friends who were working in advertising space in London with me they commuted one and a half hour and that actually was called a good commute. It was like a manageable thing. Yeah. Two, two, two, one and a half hour. to the office one and a half back. So it's three hours spent on commute. Yeah, it's insane. And you can spend that hours with your kids, with yourself, with your partner, with, whatever is your thing. But that's a huge win time.
It really is. And you know what, I'm about to say something that isn't going to be a popular opinion with folks. Please. Who advocate for the commute because you, once in a while on LinkedIn and various other social media, you'll see people saying, Oh, I love my commute because it provides me with some work life separation some buffer time between getting home and leaving work, etc. Or they say that they can be really productive on the train where they're not in meetings and they're able to get some heads down work done. Great. That's great for you. However a devil's advocate perspective is that if you need a little bit of transition time between the end of work and the beginning of your home life evening, go for a walk. Or certainly being stuck on public transit is not the only way to create that buffer time. Or sitting in traffic. And that's one counter argument. Another counter argument is if you are that productive on the train, it's not the train's doing. It's that the conditions on the train create a space for you to be productive. Let's examine what those are. It could be that you aren't in meetings. It could be that you don't have colleagues around you interrupting with questions. There could be 10 different things contributing to that sense of productivity. What if you replicated that in another setting and then gave yourself those three hours of commute time back? What it does is it just gives you more freedom in your life.
Yes. And another maybe not, maybe a little bit more controversial being as well, that some other most likely leaders of these returned to work or returned to office. That's also interesting to discuss that, the difference between the two statements anyway. They usually advocate that that you cannot be that productive in your personal workspace. So at home, because, If you are, if you have a family, kids are around, yeah, I don't know. I have a dog, for example, always annoys me. Sometimes the internet is not that shine and life full down in the office. Things can happen in your personal space at home that can direct your attention to various places, which is not work. I get that. But I do still think that these kind of distractions are minor compared to the distractions that you can have in the office. And, or it should be always about choice. Choice of the employee and choice of the workspace as well and the company as well, where do they want to work from? So how you are now, I am calling also from my home and you are also calling from your home, which is technically also your workspace. How do you feel? Are you productive there or are you more productive or less productive there compared to the open air traditional office that you had before in 2016?
I am far more productive in my home office than in an office, an open office plan, hands down. Now this is never just black and white because so many people are different and have different environments, both at home and at work. And so I believe that anybody who says, It is more distracting to work from home is just flat out wrong because they're not considering all of the factors that go into a statement like that. You have to compare a specific person's home environment to that specific person's office environment as well as all of the other places where they can get work done. I don't have kids. And I have a twelve and a half year old dog that is at one with the couch. She is like another blanket for the majority of the day. The only time she barks is when FedEx, or actually it's not even FedEx, it's mostly UPS, comes down the road. She's picky that way. But that's it. So I have very few, the distractions that hit me every day are ones that, I I, I self impose really. It's like I get a LinkedIn notification. I'm like, oh squirrel, and I would have that at the office just as much as I would here. And but what if I had children? What if I had a young dog? What if what if I were neurodivergent? And, like there just, there are so many factors that go into all of these equations, which is, again, why I'm going to sound like a broken record, that we need a diversity of options. It's, to say that it's more distracting at home, it might be less distracting at home for some people. But you know what? If you live in the heart of New York City, in a shoebox apartment with three roommates, maybe it's actually a mental health issue to continue working from home five days a week. Maybe it actually necessitates a bit of work life separation in order to stay sane. Yeah, for me, this is great. But for others, no, not necessarily. So we need options.
That's why it's always pro choice. There are no black and white answers, but there is one black and white answer, which means that yes, it should be a choice based decision. Let people choose where they want to work. Now let's talk about those who chose to work either fully from home or in a hybrid ish situation, meaning, some days on the office and some days at home. Those, they might want a choice situation when they don't want to be working in the traditional grayish Glass like full glass commercial real estate that we all know, I'm, not 100 sure who fancies that by the way at this stage, but still there are some people I understand I also had that crush. What choices do they have so they can either go to a co working office to meet and greet with others with the team members? They can have You know shared real estate in a classic office space. Or, what kind of choices that you think these people can have. I'm asking this because you are also working with the, with this Radious pro, which is, you offering this solution for others.
I am a strong advocate for third places, as they're called. And I think back in the day, Starbucks was using that term. Maybe they even coined it. I don't know. I don't know for sure, but they did. But they were advocating for a place that is not your home. It's not work. It's a third place you go to meet people, to live life, maybe to work, et cetera. And that term has since exploded. As a result of the pandemic I think for the first year and a half of the pandemic when we were forced to work from home. There was certainly an adjustment period for some people. For some people, it was pause for celebration. Finally, we can work in the way that we always wish we could, or maybe didn't even dream was possible. And now we can have everything we ever wanted. And so I think for a lot of working professionals they didn't have to commute anymore, etc. And so for the first year and a half, a lot of people were rejoicing that they could work in a more convenient way. And, but a year and a half of anything can start to wear on you over time. And this is something that I personally experienced too, where I started feeling a sense of burnout. Because, if you're in lockdowns, you can't actually go anywhere. So you can't get anywhere for your separation. But working where you live, it's like living at the office. And feelings of burnout can sneak up on you. It's not going to happen immediately, but over months, possibly years, it could even subconsciously start to eat away at you. And you might not even recognize it. That if people did have some distractions, that might accumulate over time and start to become more challenging over time. It could also become less challenging over time as you learn to deal with them. And then feelings of isolation. There are a lot of research studies coming out right now that despite the world being more connected technologically than ever before, The loneliness epidemic is at unprecedented highs. Yeah. And but these, a lot of these things are felt over time. And so after a year and a half or two years now, maybe, three years on working from home, people are looking for options to get out of the house, to see colleagues in person and and to have a little bit more of that in person camaraderie. The challenge is that companies who are forcing people to return back to the office, even though people actually want to be together, they don't want to be forced. And the pushback for being forced is stronger than the pull to be together. Yes, so one of the one of the things that third places can address then is providing a place for people to be together to get that work life separation to either escape distractions or to go find some additional stimuli. In places that are close to home, that aren't the traditional office.
Because that's like a common ground, everyone like wholeheartedly hates to commute. We can, I think we can say that. So if it's, it is easier to go to a place which is 15 minutes of walk or just a quick drive or whatever close to your home.
And one of the reasons that I'm excited to be building Radious as well as one of these third places is that our needs May vary from day to day or week to week. So, tomorrow, for example, I just need a quiet place to be by myself so I can do a series of Zoom calls. So I might book a Radious space that is a tiny home in someone's backyard that has a desk and fast Wi Fi, and that's basically all I need.
And no one knocks you up? No one calls you. No one comes at you to your desk. Not a zero distraction or any distraction that you might have is your choice.
Exactly. Exactly. It's your choice. Whereas next week, I have meetings lined up and multiples throughout the day. And so instead of booking a tiny home for one or two people, I am booking a larger home turned workspace that has a meeting table, that has AV, that has whiteboards, so that we can get together, we can brainstorm, we can strategize. And that's really difficult to do if you have a fixed office that doesn't flex. But we have different needs from day to day and week to week, and sometimes we need something bigger, something smaller, something more personal, something more corporate feeling, and so why limit yourself to one building when you can have hundreds, even thousands?
Of course. This technically means that your team, if you're a company your team has to be co located in the the vicinity of each other, at least somehow, right? And they all have to, so you, so it can be hard to find a common location that is equally distant from each other. So it's I don't know, everything is 15 minutes for everyone.
But It really depends on your team. Because if you if you have teams in different countries, then of course. It's going to be harder to get together, right? If you have people all in one geography, let's say within 45 minutes driving time of each other, then I would still make the argument that having a network of spaces that are distributed across that region is more efficient than having one space that May or may not be convenient for everyone to go to because, let's say you have a 25 person team, let's say in the Bay Area. But the people that you need to meet with three days from now, all live within a 10 minute drive of Oakland. Then you book a space in Oakland. But if the following week you have to meet with people that are all in the South Bay, And maybe they're within a 20 minute drive of each other, then you book something in the South Bay for that time. And so you can bounce around and not just flex in terms of the size of the space and the capacity, but also the location of it.
Also, I think it's important to note that, or you probably understand this more better than me than most of the traditional co working spaces they are all in the central business district anyway. So it's really, so if you are a company who are fencing hybrid work and you don't really have a fixed HQ with a fixed location office and you're flexibly meeting with each other, with your team and whatever. You can, yes, technically go to a coworking space. It's easier because it has all the amenities and whatever, but you still want to escape the commute aspects. So it's hard.
And I think a lot of companies make the argument for having an office in a central business district, because it's centrally located for as, so as many people as possible are roughly equidistant but that's saying we're going to make this equally inconvenient for everyone. Because few people live downtown, most people live in the suburbs, right? And so instead of having one equally inconvenient location, why not have a network of locations that can be chosen depending on who is coming to the meeting? To be much more convenient for as many people as possible.
So just, I don't want to oversimplify it, but pretty much I can book a stranger's backyard slash full home slash room to have a meeting space with my team, even in the suburbs.
I would say, especially in the suburbs. Yes especially in the suburbs. That's not to say that we don't have spaces downtown, but our focus where people live so that they can walk or bike even to their workplace. It's about staying close to home. Yes. So basically, in a nutshell, Radious focuses on activating residential spaces as meeting and work spaces. So if you have a home that has a six to eight person dining table add a whiteboard and you've instantly converted it into a collaborative brainstorm space. So we basically work with homeowners and folks in the short term rental industry to outfit their residential spaces with workplace amenities. And this is a really big differentiator for us, because you're not just booking a home. You are booking a residential property, yes, but it has the A. V., the whiteboards, it has the sit stand desks, the meeting tables. It even has team building exercises in the backyard. And so it has All the amenities of the office, but with all the comforts of home and most critically, the proximity, of course.
And have you, this is this sounds super exciting and interesting. Have you will not measure that, at least, but I hope, or I think that you already thought it through that this impacts really greatly the suburban residential area. So if you have people who are consuming goods and there is in the suburbs obviously more stuff will come to the suburbs as well. So I don't know. We might want to grab a coffee between the two meetings that we booked in whatever Jimmy's home down the road. And we go to the coffee space, but there is no coffee space. So it will come to us because we are working there and whatever. So it impacts the development of the suburban spaces, make it more lively. Should I say?
Yep. It, yeah, it absolutely does. And Nick Bloom has spoken about this at length as well the donut effect. With a lot of people moving out of city centers into more suburban and even exurban areas for the cost of living for larger homes and larger backyards for the same price as closer in, especially if they. Either no longer have to commute or only have to commute two days a week instead of five. Now it's more feasible. But to your point, he's also mentioned that we're seeing a lot more spending in the suburbs than in the course. Of course, this begs the question what happens to downtowns? And that is probably a topic for an entirely separate podcast episode, because we could talk about that at length. And I think it's a very important topic. I would.
What do you think in a nutshell?
I would hate to see downtowns die and I don't think they will. I really don't think they will. What I think is going to happen though, is that there's going to be a huge challenge around what do we do with all this vacant office space. Because I do not believe that we're going back to the old normal pre pandemic where everybody was in five days a week for work. This, of course, impacts foot traffic, local business, patronage. So how do we get people back downtown? People actually are downtown for things like dinners and whatnot. There's a lot of activity, just not necessarily for work and not necessarily during the day. So I've been a big advocate for office to residential or commercial to residential conversions, which you can't do with every building. And the most recent statistic I saw across the nation is that across the U. S., is that only about 12 percent of office buildings can be converted into living, living spaces. So what do we do with the rest? I do think that there's still a use for them as office spaces, but probably not every floor of every high rise. And that, We would really benefit from getting creative. Some people have proposed things like urban farming or turning those spaces into community spaces for togetherness in non work contexts. I think that there's a lot, there's a lot that we can do to revitalize downtowns. The sad thing is that I do think a lot, some buildings are probably going to have to get demolished. And then rebuilt as entirely different things, and that's going to have an environmental impact, which I don't love. But there's also an environmental impact to having these buildings half empty and continuing to burn energy, right? So we've got to do the calculus here on the long term of that energy consumption. And waste versus rebuilding into something that's going to get used.
It's also, by the way, again, sorry for always being the European in the discussions, but anyway, I actually love it because I think it's totally different having conversations that are very different for other parts of the world. So I love hearing this perspective. Yeah. Sorry. Yeah, so the city central or the downtown itself, it's totally different in most European locations in most European cities than compared to in the U. S. In U. S. it's very much tech and in sorry, work focused. Most of the culture and the work related stuff is in the central, whereas in most European cities, because most of the cities are super old, of course new commercial buildings had to be raised in separate locations. Usually I wouldn't say outside of town, but not in the central for sure. And when, so most likely in most European countries and most European cities, people went to work, I wouldn't say in the suburbs, but like to a specific, not in the central location, there are cities, of course, that already built with that in mind that most of the office spaces are in the central like Frankfurt and stuff, but but most of the cities like Rome is definitely not the case. And it's interesting to see that these vacant spaces. Because the remote work effect is happening here as well for sure. So those offices will be either demolished or reconverted or something else. And I think it will be a totally different discussion compared to the American discussion what to do with those buildings, because your buildings, your real estate in the central are much more, I wouldn't say, expensive in terms of, size and the square mile and whatever they are more much more valuable than, classic glass office buildings in far away from the city center in Europe most will be demolished anyway. So it's different. I would love to see art houses in, in, in middle of New York or something. Converted to these these office buildings. So it's interesting discussion. And I do believe that flexible office space will be a norm for most of these companies.
In the after, call it the aftermath of the WeWork bankruptcy, there have been a lot of questions. Is the flex office industry over? And I think that is so far from the truth. That the problems that are plaguing WeWork are unique to WeWork. And if you look at the statistics, at least in the US, the flex office industry grew by 10 percent last quarter alone. There is huge opportunity and huge demand for services that are offering office space on a fractional basis, right? If people are using office space on a fractional basis, maybe only two or three days a week, then companies should be paying for it on a fractional basis. And it's for this reason that we are already seeing the FlexOffice industry boom. WeWork is not a canary in the coal mine. It's not a warning signal that things are about to turn. It's that WeWork made some mistakes, and their business model had some significant, possibly fatal flaws in it. But that there are countless other companies with different models, Radious being one of them, being a marketplace model versus signing those big leases for 20 years that offer great agility and resilience. So I'm quite bullish on the FlexOffice industry.
Sure, and do you believe in this whole co living, co working mix up? I don't if, the way I phrase it is very vague and I think it's on purpose because I have no idea how to call that. But it's like a blur between the work life and the life in terms of location because you already mentioned WeWork and I think the founder of the original founder of WeWork is already building something like that, which is like a residential space, but it's also a workspace and people co live and co work there together. Do you think that something like this will cook up in the future? Like a total blur between the two work and life?
I don't know. I honestly don't. Me neither. I don't even know how to pull it. Yeah, I think that there are going to be different models attempted. Huh. I do believe that the world needs more community. Huh. And I do think that communities would benefit from having more togetherness than we do right now. The thing is that as we were forced to work from home, the lines between work life and life already got extremely blurred. In essence, it's already happening. It's just happening largely in isolation because at least in the United States, you have a lot of single family homes where you close the door and you're not really with your community anymore. Yes. And so one of the things that I'm very excited about with Radious is that it does foster community in a unique way because we are all about neighbors, booking neighbors homes for the purpose of work. And so you might walk. 5 minutes down the street and book a work equipped home that belongs to one of your neighbors that maybe you've never met before. You never had an excuse to talk. And now you're having a conversation about what you do for a living and what you're going to be using the space for. And maybe you come back and book it the next week and maybe the next week after that and you're getting to know people in your community and have an excuse to talk to them. Yes. Whereas maybe before you, you wouldn't have. And so I believe strongly that the world needs more community. We need more excuses to talk to each other in ways that build bridges instead of divides. And as an idealist, I am really excited for the potential for Radious to help with that.
I don't know how you feel about that, but this whole thing gave me a little bit of a goosebumps because that's the creative spark here, I think. And because you are not, you're not selling workspaces, you're selling community building actually at the end of the day. And I think it's super important to understand that, that there is. Maybe that's controversial, but there is really no barrier between work and life. I think it's fluid or at least, it's changing. So when you are booking a table next to your door, I don't know, two blocks away from you with someone who you Might met on the train or on the traffic or on the streets by walking, running, whatever, but never know anything about that person. Finally, you're working at that home and, what are you doing for a living? Did you know that there is a new whatever community market opening up here or something, amazing ideas can happen. If you are talking to the people close to you, because we seen it creates innovation as well. So I think it's super important. And you have a really great mission.
Thank you. Yeah, seriously. I'm excited about.
Where people can find you. If they want to book a either an office space close to their neighbors or you because I know that you're pretty active on LinkedIn, for example.
I am. Yeah. You want to chat with me, my proverbial door is always open. I am active on LinkedIn, so you can find me there. That's probably the easiest DM or a connection request and I will be happy to accept and to get to know you. If you're interested in booking a Radious workspace, then you can visit Radious. pro. And my hope is that we can put the link in the show notes.
It will be there in the show notes.
Thank you. And a heads up that we are officially launched in three U S cities. But that's not to say that we aren't available elsewhere. While we have an official presence in Portland, Oregon, Milwaukee, Wisconsin, and the San Francisco Bay Area, we also recently launched a national concierge service, because a lot of the companies that we work with have distributed teams. Surprise, surprise. Oh, wow. And so we were getting a lot of requests for places all over the country, sometimes in really small towns. And so if you have a need for space anywhere in the United States. Get in touch, whether on LinkedIn or shoot us a note through the contact form on our website and myself or one of my teammates on the concierge team will ask you a bunch of questions about what your needs are, how many people are you getting together? What sorts of workplace amenities do you need? And then we'll go ahead and tap into our wait list. And various other lists of space that are effectively waiting to get on our platform, waiting for us to launch in those geographies, and we'll be able to find you space on a by request basis. So we haven't yet expanded internationally, but if you're interested in using Radious, then I would encourage you to join our wait list, because the more people join, The more the greater indicator we have of where we should be expanding next, and it also helps for our investors to understand that there really is worldwide demand for this.
Of course this is great news. Congratulations. I'm I don't want to close this conversation without asking my curious question. What kind of hosts you are looking for, by the way? So this is important, I think, because The way I personally understand is that the best host actually are the ones who are already working in this whole rental area, space, whatever. So they are operating, I wouldn't say Airbnb or whatever, but like that. But they also have An office like set up within that real estate and on the emptiest empty days, they are willing to rent it out to you or your clients, right? Or am I getting it correctly or?
Yes, but there are additions to that. So a lot of the hosts that join Radious are ones who do already have experience on other short term rental platforms like Airbnb or VRBO, for example, but they never really loved the overnight component of those platforms. Because with overnight stays comes the hassle of laundry, which takes a long time to do, and comes the risk of hosting people that are there for recreation. There's more wear and tear. There are some significant pain points that come with overnight hosting. And one of them actually, which is very important, is that there are slow days in the week and there are slow times of the year. But for example, if you're an Airbnb host your weekends are usually full, but your weekdays are slower. And if you live in a geography like Portland, where it rains four or five months out of the year in the winter, then tourism goes down and you're seeing significant slowdowns in revenue. With Radious. If you put some effort into equipping that space with workplace amenities, you can rent it out on weekdays, which is predominantly when people work. Of course. And also through the winter, because office space doesn't have the same sort of seasonality of demand. And so it's a really great way to supplement income. I will say that one thing that I'm very proud of though, is that there's a good chunk of our hosts who actually live in the spaces that they're renting out, this is something that you can't do really if you're renting on Airbnb because you would have to find a place for your family to sleep for the duration of your Airbnb booking. But with Radious, because we're only nine to five or eight to six, If the families, the kids are in school and parents are at work or maybe at a coffee shop, maybe at a Radious space for the day, then they can rent out their home on Radious and supplement their income. And we've actually had several hosts tell us that the income that they bring in through Radious helps them afford their rent. And so that's another aspect of our platform that I'm very proud of. It's not just about community building, it's helping with housing affordability for a lot of families.
Sure. It is clear now. Cool. Amazing. Still, you have a great mission. I wish you the best of luck building this and thank you for your time. I hope we didn't stretch it too much in terms of conversation time and length, but really appreciate that you were coming here.
I really enjoyed it. Thanks.
