Earnin is basically a payday lender that doesn’t charge fees and doesn’t charge exorbitant interest. Columnist davidlaz asks how this could be a viable long-term business model:
for a Silicon Valley company called Earnin, in which a young woman with an enviably full life — a radio show, DJ gigs, guitar playing — relates that she’s having a hard time getting by.
Palaniappan told me the Palo Alto company’s business model is based on the idea of paying it forward. That is, users pay a tip so that other users can take advantage of the service, and then they pay a tip, and so on. Many consumers, especially those with limited incomes, likely will balk at voluntarily paying for something that they don’t have to.
“They’re giving people money and they’re expecting you to pay it back,” Saunders said. “This isn’t some nonprofit. This is a for-profit venture funded by big money from Wall Street, and these big companies are looking to make their money back.” And even though there’s no rollover, the fact that you needed a cash advance indicates you’re likely living paycheck to paycheck. Earnin doesn’t remedy that.
“It is our customers, however, that we truly rely on to keep the app going,” it says. “Earnin is 95% community-supported and mainly operates on the tips we receive from customers.”
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Column: The first round of the Trump impeachment hearings was goons versus diplomatsColumn: The first round of the Trump impeachment hearings was goons versus diplomats (via latimesopinion)
Baca lebih lajut »
Column: Trout and Bellinger deserve MVPs, but fans deserve more in postseasonThe hometown sweep of baseball’s Most Valuable Player awards Thursday officially anoints Los Angeles as the center of the baseball universe! No, actually, that would be Washington.
Baca lebih lajut »
Column: Chiefs lineman Mitchell Schwartz has missed just one snap in NFL eight-year careerMitchell Schwartz story
Baca lebih lajut »
Leave Taylor Alone! Why Swift Action Is Needed Now (Guest Column)I am heated. I see red. I’m referring, of course, to the latest public dust-up between Taylor Swift, Scooter Braun and Scott Borchetta. Mainly, it’s Taylor I’m focused on. Taylor …
Baca lebih lajut »
SmileDirectClub plummeted 20% and is now at an all-time low following weak 3rd-quarter earningsIt's the largest-ever drop for the company since its September IPO, which was the worst public debut in 12 years for a US company.
Baca lebih lajut »
Emma Thompson Wore Glittery Purple Stars in Her HairShe's having the funnest hair week ever.
Baca lebih lajut »