Will “social capital” be the next big industry to emerge?
Here is a link to a recent thought-provoking article from VentureBeat journalist, Chris Morrison, entitled "Will "social capital" be the next big industry to emerge?"
His central example in the piece is the emerging field of "Microcredit" and specifically the work of Nobel Prize winning Mohamed Yunus. I especially like Morrison’s quote on this defining nature of the success of these emerging models:
"Contrast that to aid organizations that have spent hundreds of years providing selective handouts — with little result. In just three years, microfinancing by both non- and for-profit organizations has taken flight, with a huge effect. The key was simply adding old-fashioned capitalism and a business model to charity."
The founders of CommunityLend have been greatly influenced, as they develop the social lending model, by the amazing work of Yunus and others challenging the rules in the world of microcredit. We thought it fitting to provide a shout out.
Michael
