Comments on: Cutting out the banker middleman

By: MoneyforMainSt

MoneyforMainSt — Tue, 22 Nov 2011 15:33:20 +0000

Wanting to bring social lending to small businesess that is totally community driven led to the launching of Money for Main Street. The site is exclusively for small business borrowers. http://www.MoneyforMainSt.com

By: DonTapscott

DonTapscott — Sat, 19 Nov 2011 03:14:56 +0000

Thanks for the interesting comments everyone. I’m still wondering if this could scale, but if Wall Street doesn’t step up for the need for debt financing (consumers and small businesses) someone else will… and it might be you and me!

Don

By: twintangibles

twintangibles — Fri, 18 Nov 2011 20:32:54 +0000

Don – great article. One of the key aspects of a networked world is how it lowers barriers and, in so doing, it permits people to re imagine themselves and engage in activities that were previously beyond gate keepers. So, for example, they can be journalists, inventors and investors. Crowdfunding is very much part of that mix where the aggregation of small investments is a powerful mechanism to create capital. It often has a lower risk profile, is a more stable investment, and delivers significantly adjusted expectation of return. The possibilities of this has have barely been scratched but we expect a great upsurge in interest in the coming years when raising capital is challenging.

By: luckynucky7

luckynucky7 — Thu, 17 Nov 2011 19:57:05 +0000

This being a ‘wave’ of the future could legitimize social banking ventures. But, all you need is one greedy paper-tiger bank to wreck the process. It would be fascinating to see how the 1% takes a bit of their own medicine.

By: OneOfTheSheep

OneOfTheSheep — Thu, 17 Nov 2011 19:19:42 +0000

This is but one way that the personal computer in the “hands of the masses” can change life for the better. It will be fun to watch if such developments “skim the cream” of commercial transactions between people who actually have money and those who need it and have a credible business plan.

Unfortunately, look for the “entrenced financial community” to find a way to use their considerable power and influence to make such innovation illegal in the short term without regard to where the “public interest” of “we, the people” lies.

By: Peter_Renton

Peter_Renton — Thu, 17 Nov 2011 16:45:54 +0000

Great post. I think the other point that is really bringing legitimacy to the p2p lending sector is the number of new institutional investors coming on board. Both Lending Club and Prosper have had some big new investors this year as the big money starts to take notice of the excellent returns that can be obtained.

By: LinaSRF

LinaSRF — Thu, 17 Nov 2011 02:59:45 +0000

Love the CSR angle to this P2P model. It’s bound to have some social legs – esecially in the age of “occupy ” movement. @LinaArseneault