Did Betfair Lay Down The Model For Social Lenders?
Zopa, Funding Circle and Ratesetter, think they are unique, but did they just borrow the principle from the betting exchange, Betfair.
In all four, you can play both sides against each other, although the purpose of Betfair is different.
The same principles could also be applied to an energy exchange. Let’s say a town or an area got together and pooled their energy needs and say they wanted a particular price, which the energy suppliers could then bid for.
I don’t see too much difference.
This Bus Is Beautiful
Coming home from the Angel late this afternoon, as I was getting on one of the New Buses for London, an attractive black lady of about thirty or so, approached the driver, leaned over so he could hear and said “I just had to tell you, but this bus is beautiful!”
How many times has such a statement been said about a humble bus?
Birthday Charity Giving
I’ve had some more positive responses on my idea for giving to charity on your birthday, which I outlined here.
It just seems to hit a chord with people, to give to celebrate another year of life, hopefully well-lived.
So I’ve now given it a name of Birthday Charity Giving. It was the only sensible name I could think using the first letters of the names of my wife, son and the late company accountant, who set me up with the good pension I enjoy.
Creating A Ratesetter Account
I have just created a Ratesetter account, as I want to see how other peer-to-peer lending sites work.
As a Zopa user for many years, I could be considered biased, but although I got registered quickly, there are some things I liked and didn’t.
E-Mail Address Based Account
All accounts, should be based on e-mail addresses. They are in Ratesetter.
Passwords
Because of my gammy left hand, I don’t like passwords where case is important, as I often get it wrong, when I use the shift key. Ratesetter insists on at least one number.
At least though they didn’t use the dreaded Captcha system beloved of so many sites.
Check Questions
They only have one question, which you setup yourself. I’m happy with that.
Addresses
I had no problems here and they only wanted my current one.
Debit Cards and Bank Transfers
Ratesetter allow both methods of transferring money to the account. I prefer the bank transfer.
But I did successfully register my account and transfer £1,000 into the account.
MPs Don’t Like Google’s Tax Affairs
According to this article in the Daily Telegraph, Google only paid £6m tax on revenues of £395m.
Obviously, it is not in the interest of the UK, that major international companies pay so little tax. It’s also not in the interest of small UK companies, who perhaps pay high rates of tax and see their foreign competitors in the UK, paying very little.
Years ago, I was involved in monitoring the perception in the press of major companies. After a couple of quarters bumping along at the bottom, companies quickly picked their ideas up.
So perhaps a publicly available table on the Internet, showing the turnover, tax and a few other figures of companies, might not be a bad idea.
Suppose say it was obvious that a well known restaurant chain, was paying a very low rate of tax. Would it mean that customers went elsewhere? Possibly, but it might mean they did other things to justify the low rate, that were of benefit to the UK.
Kiva – On-Line Microfinance
Kiva is almost a cross between peer-to-peer lending and micro-finance.
You choose an entrepreneur with a business in some faraway country, who needs some finance to either start or expand their business. The business might be a recycling business in Pakistan or a cafe in Vietnam, but the list is endless. You then contribute something like $25 to the loan they require.
The About page on their web site tells you more. I just signed up and then lent $25 through my PayPal account to a pharmacy in the Congo to buy more drugs. Of the pukka sort that is! It was a very simple process, where you just sign in and then start lending in chunks of $25 to those borrowers you choose from a map of the world. I have since made a loan to a woman starting a restaurant in Ecuador. I chose Ecuador, as I have experience of the country, so know a bit about the way they work.
So far they claim they have lent over $337 million dollars and they have a near 99% repayment rate.
I regard any money, I give to Kiva as a donation to charity. If I get any money back, then that is a bonus. If I get all my money back with interest, then that’s an investment.
I think the big disadvantage of Kiva is that it appears you have to pay by PayPal or a credit card, whereas Zopa or funding Circle can be fed using a direct bank transfer.
Perhaps if you’ve had a clear-out and got rid of unwanted clutter through eBay, Kiva is a good way to spend your PayPal funds creatively.
Remember too, that most of our charity donations are either made by cash or credit card, often through something like JustGiving. A lot of these will be increased by Gift Aid.
A Comedy Turn At Highbury Corner
I went up to the new littleWaitrose at Highbury Corner this afternoon. No problems in the shopping and in fact the shop is better than its medium sized sister at Islington, as the gluten-free selection is better and the self-service tills are easier to use.
Catching the 277 bus home, I was treated to one of the funniest comedy drunk acts in quite a few years. An obese lady, probably about fifty, with hair died a bright purple, was trying to board a bus. The stream of invective would have outshone a navvy, who had just dropped a sledge-hammer on their foot. When I arrived the lady driver of the bus, opened the door and let me in. she seemed totally unmoved at the invective and smiled widely, when I said thanks for waiting for me. In the end, the drunk was left on the pavement, still screaming loudly, much to the amusement of passengers.
One of the great advantages of Routemasters and their predecessors, was that the conductor could give a signal for the driver to leave quickly. I’ve actually seen a conductor do this, when a drunk was balanced on the rear platform and then give a small push, to make sure the drunk toppled into the road. Health and safety would stop such extreme measures these days.
The Magnificent Olympic Park Flowers
So many have remarked that the best part of the Olympic Park is the flowers.
Judge for yourself! Read about how the gardens were created in the Daily Telegraph.
Britain’s Secret Ingredient – The Twenty-Third Of March
Someone has just pointed out on Radio 5 Live, that Steve Redgrave, Chris Hoy and Mo Farah, all share the same birthday; the 23rd of March. They were born in 1962, 1976 and 1982 respectively.
Believe it or not they share the date with Roger Bannister, who was born in 1921.
The theme is carried on by Chris Hoy’s colleague Jason Kenny, who won gold in Beijing and London.
Kingston Comes To Stratford
On Friday night, there was a lot of Jamaican flags in the crowd at the Olympic Stadium. I think it is true to say, that after the British, Jamaica was one of the best supported nations in the athletics. But then Jamaica is a small nation and London, or perhaps New York, are the nearest they’ll get to a home Olympics.
In fact, this must have been the best games for other Caribbean nations too!
On the other hand, Usain Bolt and others in the Jamaican team, were fulsome in their praise of the help they received in Birmingham, where they were based in the UK. Did it help training amongst friends? And did it help the other Caribbean nations too?
We’ll never know for sure. But surely friendships made during these Games, will in future benefit everybody!
The Anonymous Widower 