What I call "the Webby Way" is a particular mode of interaction for humans that is fostered by the Web. This way is always intrinsically different from the non-Web world in some key ways. Webby Way systems connect people directly. They are Darwinian, in the sense that competition is unfettered and good ideas or good things rise quickly to the top and succeed. They evolve rapidly. They are personal. They are fast. They are global. They cut out middlemen. They are information rich. They are empowering.
So, how would personal loans work on the Web. Why, the way Prosper.com does it! It's sort of the eBay for loans. Anyone can apply for a personal loan. Anyone can loan money. The rate is set by the lenders. You can contact the lenders or the loaners directly - ask them more details, find out how they are doing - even get or give advice! Prosper and the groups are middle-men here in the picture, but their fees are obvious and you can see why they deserve them.
Being an investor, I was interested in Prosper, drawn both by the fascination with such a personal way to make money and the relatively high returns. When I emailed one of the bigger investors there, with a lot of loans, all 100% on time, he says he's making 13.6%. Win, win. That's the Webby Way.
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