Check out this Upstart. Kiva for Capitalists Anyone?
Aug 8, 2012 | Tech News
WHAT IS IT?
Arthur Rock, a well known VC once said, “I invest in people, not ideas. If you can find good people, if they’re wrong about the product, they’ll make a switch, so what good is it to understand the product that they’re talking about in the first place?” Well, Upstart has taken the concept of investing in people quite literally. The promise, provide youths coming out of college with a little economic buffer and mentorship to take a non-traditional path. What’s in it for the backers? The Upstarts repay the loan on a monthly basis for 10 years with an interest rate capped at 14.99% annual return.
WHY IS IT RELEVANT?
This is essentially Kickstarter for People. Rather than investing in the early stage of some whiz-bang gadget, you’re investing in people who you think have the potential to excel in whatever pursuit they pitch you on. If they’re successful you share in that reward financially while also helping someone along the way. Kind of Capitalist Kiva. Certainly one of those ideas that kind of just makes sense and with a lot less overhead and restrictions from a traditional student loan. Fascinating to watch Crowdsourcing evolve and permeate so many facets of life.