4 ms·
The YC experiment will be rather interesting, giving people guaranteed monthly payments of ~$1k for 3-5 years makes them a very attractive population for loan p
by dahdum 8y ago
The YC experiment will be rather interesting, giving people guaranteed monthly payments of ~$1k for 3-5 years makes them a very attractive population for loan providers.
Once they are accepted into the program, you could offer to immediately buy them out, for say, $24k in cash for signing over their rights to the monthly payments.
If YC backs out once they've taken the buyout, they're saddled with debt and likely forced into bankruptcy. It would leave them worse off than before.
If YC doesn't back out, the loan provider can pocket a hefty profit.
- _rpd 8y agoIt'll be interesting to see if YC adds language prohibiting such arrangements to the experiment contract. It could be that $25k is all the capital needed to start a small business. Maybe YC itself could offer it as an alternative: larger monthly payment or smaller lump sum?