Podcast Summary: "Phia’s Phoebe Gates and Sophia Kiani Want to Shake Up How We Shop"

Podcast: Let's Get Dressed
Host: Liv Perez
Episode Release Date: June 2, 2025

1. Introduction

In this engaging episode of Let's Get Dressed, host Liv Perez welcomes Phoebe Gates and Sophia Kiani, the dynamic co-founders of FIA—a groundbreaking app designed to revolutionize the online shopping experience. Liv expresses her admiration for their entrepreneurial journey and highlights the mutual enthusiasm between the guests as they delve into their innovative project.

2. Building a Thrifter's Dream

Phoebe Gates begins by sharing her personal affinity for secondhand shopping:
"Most of what we wear is secondhand, but we're a little bit unusual in that." ([04:48])

The conversation reveals that FIA is essentially a price comparison tool tailored for fashion enthusiasts. Described as "Google Flights for clothes," the app serves as a savvy personal shopper, aggregating the best deals across various online platforms, including secondhand marketplaces like The RealReal.

3. The Genesis of FIA: Meeting at Stanford

The origin story of FIA is both serendipitous and relatable. Phoebe recounts how she and Sophia became roommates at Stanford:
"I was laying in bed, and Sophia has this undeniable confidence... It was when I saw her authentic self that the curtain just dropped, and we became super, super close." ([07:22])

Their initial bonding over shared outfits and occasional wardrobe disputes sparked the idea of innovating the shopping experience. Despite brainstorming several unconventional ideas, including a Bluetooth smart tampon, they realized their true passion lay in simplifying fashion shopping.

4. The Aha Moment: Simplifying Secondhand Shopping

The pivotal moment for FIA came when Phoebe shared her struggles with finding the best prices for secondhand items:
"What if there's a way to streamline and automate this for people so that in one click, they can get all of the options and price compare from all the different secondhand sites?" ([09:41])

This realization led them to focus on creating a tool that not only compares prices but also provides insights into the sustainability and residual value of fashion items, aligning with their values of transparency and efficiency.

5. Core Features and Functionality of FIA

Ryan Reynolds, presumably a team member, elaborates on FIA's primary features:
"FIA is a free shopping tool that basically you can download as an app. As you're shopping, FIA tells you if the item is overpriced, if it's a low price, or if it's a typical price." ([12:22])

Key functionalities include:

• Price Graphs: Displaying average secondhand prices to help users decide between buying new or used.
• Personal Shopper Insights: Offering real-time suggestions on whether to purchase an item based on price and sustainability metrics.
• Cross-Platform Integration: Acting as a mobile browser extension compatible with all shopping websites.

6. Overcoming Challenges: User Onboarding and Biases

A significant hurdle the team faced was the user onboarding process. Ryan shares:
"The onboarding was so bad that we had one night where we couldn't get like 40 people through. We were freaking out." ([28:19])

Through extensive user testing and feedback, they revamped the onboarding experience, focusing on simplicity and clarity. Phoebe emphasizes the importance of continuous iteration based on community feedback:
"Realizing that we just needed to make it as simple as possible and address the pain point that we had in the market was the biggest learning that I took away." ([16:56])

Additionally, both founders acknowledge the challenge of mitigating their own biases to ensure the app meets the diverse needs of their Gen Z and millennial user base.

7. Wisdom from Bill Gates: Leadership and Management

Phoebe attributes much of her leadership growth to advice from her father, Bill Gates:
"Learning how to give feedback in a way that actually motivates someone has been a huge learning for me." ([30:34])

This guidance has been instrumental in shaping their management style, emphasizing honesty, transparency, and constructive feedback—qualities essential for fostering a collaborative and innovative work environment.

8. Celebrating Early Success and Future Aspirations

The team celebrates FIA's early achievements, including ranking number 23 on the top charts for shopping apps. Ryan reflects on this milestone:
"This is a win, we worked super hard and I'm so glad that it's out in front of people." ([31:59])

Looking ahead, they are focused on improving user retention and expanding their community. They plan to leverage social media to gather more feedback and continue refining the app based on user needs.

9. Empowering Female Entrepreneurs

Phoebe passionately addresses the disparity in venture capital funding for female-founded businesses:
"Only 2% of venture capital funding goes to solely female-founded businesses... But there's so much opportunity in this space." ([34:38])

She encourages women to pursue entrepreneurship regardless of their background, highlighting that a perfect resume is not a prerequisite for starting a successful business. Their journey exemplifies how identifying and addressing personal pain points can lead to impactful innovations.

10. Final Thoughts and Call to Action

The episode concludes with a heartfelt endorsement of FIA, urging listeners to download the app and participate in their entrepreneurial journey through their accompanying podcast, The Burnouts. Liv Perez emphasizes the significance of FIA in transforming shopping habits, positioning it as an indispensable tool for modern consumers.

Phoebe and Ryan express their gratitude and excitement, inviting the community to engage with FIA and provide honest feedback to further enhance the app’s offerings.

Notable Quotes with Timestamps:

• Phoebe Gates: "Most of what we wear is secondhand, but we're a little bit unusual in that." ([04:48])
• Phoebe Gates: "What if there's a way to streamline and automate this for people so that in one click, they can get all of the options and price compare from all the different secondhand sites?" ([09:41])
• Ryan Reynolds: "FIA is a free shopping tool that basically you can download as an app. As you're shopping, FIA tells you if the item is overpriced, if it's a low price, or if it's a typical price." ([12:22])
• Phoebe Gates: "Realizing that we just needed to make it as simple as possible and address the pain point that we had in the market was the biggest learning that I took away." ([16:56])
• Phia Gates: "Only 2% of venture capital funding goes to solely female-founded businesses... But there's so much opportunity in this space." ([34:38])

Conclusion

This episode of Let's Get Dressed offers an inspiring glimpse into the entrepreneurial efforts of Phoebe Gates and Sophia Kiani as they innovate the fashion shopping landscape with FIA. Their commitment to sustainability, user-centric design, and empowering female entrepreneurship resonates throughout the conversation, providing valuable insights for both aspiring entrepreneurs and fashion aficionados alike.