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P2P lending on bootstrap – notes

Between burger and an ice cream in Hard Rock Cafe I jotted down notes from today’s bootstrap. I needed them in electronic form anyway. I wrote down stuff which seemed useful for me, so it’s not guaranteed to be complete.

This time it was in an unusual for boostrap form of a panel. Meeting took 3 hours, but I found it very interesting. Technical people might beg to differ, though, as tax/legal discussion was really exhaustive (exhausting).

I made some comments below in the notes, but here I can also share my “first impression” of the P2P lenders present. It is really first impression because I didn’t bother to check them myself, so some doubts below might be result of this.

  • Finansowo – approach to start as simple as possible, no collections or support in executing transactions between peers. The biggest risk is that some things that they ignore seem critical (collections).

  • Monetto (blog)- most advanced approach, ensured partners from the beginning, including bank (mBank) and collectors. The biggest risk is that they start with a very complicated machine that no-one will use.

  • Kokos – midway between the two, with the advantage that it is already up and running.

On a first glance I like Finansowo and Monetto, because they follow clear-cut concepts of simplicity and exhaustiveness, while Kokos was less clear, at least as much can be judged from the presentation, and also takes cautious approach regarding some legal challenges (e.g. possibility to grant anonymity and stick to electronic contract form).

(read more…)

Bootstrap: Ruby stuff and Blip, not a twitter clone at all

Today I visited Bootstrap meeting for the first time, so now I feel obliged to write a post about it. Even better to write it before Albert does.

In fact, I thought I would be horse riding at the time of the meeting. But you have to live by your principles, and one of my principles is, don’t ride horses in a shitty weather. The weather was awful all day.

The place

Chlodna 25. Nice place! Never been there either. It’s a cafe and there is also a room downstairs, where the presentations took place. And there are lots of board games available that you can play.

I arrived exactly at 12, took a chair from above because there was already no free places in the basement and ordered an apple pie (12 was early enough for me to miss breakfast), and the presentation started. (read more…)