Richard Branson Launches Virgin Money
Going Like Sixty — January 9, 2008 — Business
References: money.cnn
Chief Trend Hunter, Jeremy Gutsche has identified microlending as one of the most significant world trends.
Richard Branson has founded Virgin Money to facilitate such lending. The firm will formalize lending among family and friends - a major source for startup money. Since these relationships can be stressful, Branson hopes to uncomplicate such business arrangements. He's offering to match business loans made by family/friends after good credit has been established.
Implications - Virgin Money operates as a third-party to broke money repayments between friends and family members. With emotions dragged into the mix, it can be hard to ask for the money owed by loved ones.
Richard Branson has founded Virgin Money to facilitate such lending. The firm will formalize lending among family and friends - a major source for startup money. Since these relationships can be stressful, Branson hopes to uncomplicate such business arrangements. He's offering to match business loans made by family/friends after good credit has been established.
Implications - Virgin Money operates as a third-party to broke money repayments between friends and family members. With emotions dragged into the mix, it can be hard to ask for the money owed by loved ones.
Trend Themes
1. Microlending - Disruptive innovation opportunity: Explore new and innovative ways to provide microlending services to aspiring entrepreneurs, especially in underserved communities.
2. Formalizing Lending - Disruptive innovation opportunity: Develop platforms or services that formalize lending among family and friends, making it easier and less stressful for both parties involved.
3. Third-party Lending - Disruptive innovation opportunity: Create solutions that act as intermediaries or third-party facilitators in lending between friends and family, streamlining the process and minimizing emotional complications.
Industry Implications
1. Fintech - Disruptive innovation opportunity: Explore the intersection of technology and finance to revolutionize microlending and streamline lending processes.
2. Social Finance - Disruptive innovation opportunity: Build platforms or services that leverage social networks and relationships to facilitate lending between friends and family, creating more secure and trust-based financial systems.
3. Proptech - Disruptive innovation opportunity: Develop innovative platforms or services specifically targeted at facilitating lending for real estate investments among family and friends, reducing legal complexities and emotional strains.
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