GreenSky CEO David Zalik makes novel business model work

Business, Businessman, CEO, Company, Entrepreneur, Founder, Home Repair, Investment, Investor, Technology

When entrepreneur David Zalik went on a roadshow back in 2005 to pitch his idea for a fintech company that would extend instant point-of-sale retail loans, he knew that he had stumbled across a gold mine. But the 32-year-old veteran of the business world had a tough row to hoe when trying to convince banks to loan him the capital that he needed to get his new business off the ground.

Zalik visited dozens of banks in the fall of that year, only to be rebuffed by skeptical looks and promises by bankers to talk to their bosses, meetings that somehow never seemed to materialize. Eventually, Zalik came to terms with the fact that it wasn’t so much the concept behind his new company, which would become known as GreenSky Credit. Instead, it was the revenue model that had bankers spooked. Quite simply, it was a business model that had no historic analogue.

All sides gladly pay when everyone wins

But Zalik would end up being proven right. After being rejected by so many banks, the determined businessman decided to liquidate his entire real estate portfolio and finance the company himself. This would turn out to be a good bet. But even Zalik had doubts in the beginning about whether he could really make the GreenSky revenue model work.

GreenSky would ultimately end up making money from all three of the parties to the transaction although it wouldn’t be advertised that the borrowers themselves are actually paying for some of it. The contractors and retailers who pitch GreenSky loans and with whom the GreenSky borrowers are actually purchasing goods and services pay the highest fee, 6 percent of the principal amount. But these entities are more than happy to pay that fee because the loans are going towards business that they almost certainly would never have otherwise had.

And the fact is that the 6 percent fee that the retailer pays is effectively rolled into the loan itself, meaning that it is really the customer who ends up paying it. But the customers or borrowers couldn’t be happier. That’s because they’re getting to complete projects that otherwise would have fallen through. And the banks themselves pay a 1 percent carrying fee on all loan balances originated by GreenSky.

http://greenskycredit.atsondemand.com/

Shervin Pishevar Warns Of Changes Coming To The American Economy

Business, CEO, Entrepreneur, Investment, Technology

There is something brewing in the United States that we have not seen in our lifetimes if you believe the words of Shervin Pishevar. He feels that we going through a transformative time in the country that is going to shape the way that we all move forward into the future.

As an early investor in Uber, Shervin Pishevar earned a name for himself by being one of the first to put his faith and his money into the company. He not only earned a good reputation for having done this, but he also earned himself a nice bit of money as well. He proved that he knew how to make a good financial prediction.

Twitter has been blessed by the likes of Shervin Pishevar. He has an account that he likes to use frequently in order to inform his readers of his thoughts on how things are going in the economy. He even recently took the opportunity to go on a “tweet storm”. This is a stretch of time during which a person uses their Twitter account to send out multiple messages on the same or similar topics.

The tweet storm from Shervin Pishevar would end up lasting a total of fifty tweets over a period of twenty-one hours. Thus, he was able to keep his followers hanging on his every word the whole time.

During that lengthy amount of time he tweeted about how he feels that the stock market is about to go into a correction. That is when the market corrects by at least twenty percent. That kind of thing is common enough, but the reasons why Shervin Pishevar believes that it is about to happen are something different.

He thinks that China and others are becoming the parts of the world where the newest startups are going to happen. Instead of great companies getting their start in America we will have to look abroad as other countries start to take away the biggest advantage that we used to have over them. He may or may not be right about this, but at least he has a strong track record of predictions from the past.

https://b612foundation.org/members/shervin-pishevar/

Jason Hope hopes for a better future through technology

Internet of Things, Technology

The Internet of things is the latest technology to hit the universe. It is a relatively new concept that is gaining ground by the day. Many companies and individuals continue to accept the concept as the future of technology. Internet of Things is a concept whereby common devices (electronic) connect with each other and share information that will help them assist each other in the implementation of tasks. As of today, many people are familiar with the concept where one can connect their car to their mobile phones. In such a scenario, it is possible to control your vehicle using a phone. This is now a commonly used feature. This is now the concept of Internet of Things in application. However, this is just the concept in its initial stages of implementation. There is so much more to do with this concept.

With the Internet of Things, it will be possible for one to order a device to prepare breakfast simply by speaking to the machines. It will be possible for your refrigerator to alert you when some items are nearing expiration through  mobile devices. This is the concept we are talking about. In as much as it is mind-boggling, it is a technology that is already being rolled out. Companies are trying as much as possible to bring their resources together and come up with applications that will support the implementation of this technology. It is clear that in the future it will be possible to interact with household devices easily and have them assist human beings to implement some of the tasks.

Another area that will see tremendous growth with the advent of the Internet of Things concept is the healthcare department. There are numerous cases of patients passing on due to emergency cases that remain unattended. This scenario is usually due to unavailability of doctors or nurses who can respond swiftly. However, in almost all cases, the doctors are normally not aware of the cases as they happen. Now with the Internet of Things technology, it is possible to track the health data of every patient. In case there is an emergency, there will be an alert to the doctors or nurses who will be able to address the situation.

About Jason Hope

Jason Hope is normally referred as a futurist. He hopes to predict the direction technology is likely to follow in the near future. Jason is a firm believer that technology has the capacity to change the lives of people. Jason Hope is one of the strongest advocates of the Internet of Things concept. He has published a lot of articles on the direction this technology is likely to lead us to.

Jason Hope is a finance professional and holds a degree in finance. He has been able to blend his business mind with a passion for technology.

About Jason Hope: www.crunchbase.com/person/jason-hope#/entity