Like I mentioned before..it is a good start, should the banks play along, as for acronyms like AI etc...well so far AI in 99.9% of cases is just another word for a cross-disciplinary algorithm... but I believe in Jon Jacobson's good intentions.
I agree to an extent that if you’re talking about a business loan then that has loads of other criteria that the lenders will look for including viability of the business. But what this will do is allow that young entrepreneur to get à personal loan and back themselves to build a business. There’s no question though that young black entrepreneurs are the future of this country.
@@jontj2 how do you get a personal loan as an unemployed young person without a job, an address etc etc.? We need to address this issue and soon...India might offer some insight, but SA banks need to be the conduit, not the SA government. How about 2% of nett earnings be put aside just tor this...it is the only way to kickstart young people and work toward a lower unemployment rate. Your model, protects banks, this other model offers opportunities to those who need it most. Adapt your model and work on default rates and if it is less than 50% it is still a big win for all...
I like your thinking. However we’re a tech business and so provide the platform the banks decide how they will monetise the opportunity and the commercial model. But as South Africans we are all in this together and need to be putting our heads together and fix the big issues in our society. Let me know how we can contribute.
Thanks Linda. I very much appreciated the opportunity to tell our story 👍
How big is your dataset?
Valid point....and hopefully margin of errors reflect a more sober approach, unlike Dr Cronje et al in their assumptions....
Like I mentioned before..it is a good start, should the banks play along, as for acronyms like AI etc...well so far AI in 99.9% of cases is just another word for a cross-disciplinary algorithm... but I believe in Jon Jacobson's good intentions.
Still won't help the people that need credit most , young black entrepreneurs....
I agree to an extent that if you’re talking about a business loan then that has loads of other criteria that the lenders will look for including viability of the business. But what this will do is allow that young entrepreneur to get à personal loan and back themselves to build a business. There’s no question though that young black entrepreneurs are the future of this country.
@@jontj2 how do you get a personal loan as an unemployed young person without a job, an address etc etc.? We need to address this issue and soon...India might offer some insight, but SA banks need to be the conduit, not the SA government. How about 2% of nett earnings be put aside just tor this...it is the only way to kickstart young people and work toward a lower unemployment rate. Your model, protects banks, this other model offers opportunities to those who need it most. Adapt your model and work on default rates and if it is less than 50% it is still a big win for all...
I like your thinking. However we’re a tech business and so provide the platform the banks decide how they will monetise the opportunity and the commercial model. But as South Africans we are all in this together and need to be putting our heads together and fix the big issues in our society. Let me know how we can contribute.
@@jontj2 market research, go ask questions? Get a feel for what young poor entrepreneurs need.
I’ll do everything within my power. Promise you that 🙏👍