The word disruption is so often misused, abused and overused. That said, if ever there was an industry in need of a swift kick in the stones it's the predatory lenders in this market, as mentioned in the article.
Yes, they are meeting a need, I can't fault them for that. But their heavy-handedness and general over-focus on the their bottom line begs to be taken to the mat and punched in the face.
Certainly there's got to be someone reading this who can make that happen. TIA
There's actually been a ton of disruption of this space in the past 5 years. OnDeck, Kabbage, LendingClub, Square, are all great, established tech-lending companies. But the remaining victims are the bottom 20% of the borrower population - it's basically not possible to profitably fund these people unless you're straight up scamming them. So the solution has to come from regulation, not the market.
Yes, they are meeting a need, I can't fault them for that. But their heavy-handedness and general over-focus on the their bottom line begs to be taken to the mat and punched in the face.
Certainly there's got to be someone reading this who can make that happen. TIA