As I have been facilitating the discussion on incubator business models and thinking through our experience so far with 1M/1M and the roundtables, one nugget that has come through for me is that 1M/1M needs a bank of sorts attached to it … some combination of a Grameen Bank (micro finance) and American Express Bank
Centrro is a vertical search engine for personal finance that focuses on credit report information, credit cards, mortgages, and auto loans. The Centrro site allows people to shop anonymously for loans and credit before they actually apply for these products.
As I have been dialoging with friends and colleagues on Capitalism 2.0, Sridhar Vembu, CEO of Zoho, wrote in response to Capitalism 2.0: Value Creation vs. Value Destruction : “I have a somewhat different take; I believe easy credit from Federal Reserve + leveraged speculation (i.e speculating with borrowed money) create a toxic combination that