Most charts I get sent are up and to the right. Not this one.
The chart ReadyForZero sent me (above) goes down and to the right. This is meant to showcase just how much debt the service is helping users eliminate. They’re the blue lines on the bottom. It’s like golf, the lower the better.
All told, ReadyForZero is already helping their users eliminate some $42 million in credit card debt since the beta launch just four months ago. We’ve covered the Y Combinator alum a few times over the past several months for a good reason: it’s a solid and much needed service. And today, investors are putting even more of their money where the credit card debt is disappearing, giving ReadyForZero a fresh $4.5 million Series A.
Polaris Venture Partners led the round with participation from Citi Ventures. It follows a $260,000 seed round last October that featured prominent angels like Steve Chen, Dave McClure, Benjamin Ling, Nils Johnson, and Maneesh Arora.
“This financing round will help us build more automation, engagement and optimization into the product — things like, managing your personal debt and credit reputation the same way you manage your investments and net worth,” co-founder Rod Ebrahimi says. “We hope this financing also furthers our image as a credible and legitimate option among within a notoriously ‘shady’ industry,” he continues, also noting that they’re hiring ” aggressively”.
“There is no doubt that there is a big opportunity here,” Ebrahimi says. How big? Well, some 77 percent of American families have debt. And the Federal Reserve pegs the total consumer debt amount at $2.4 trillion. Not exactly chump change — not at all.
And ReadyForZero obviously has some ideas on how to make money themselves while at the same time helping people. In fact, they’re already taking in some revenue. “We’ve actually booked some revenue and facilitated over $250k in loans
through our launch partner, Lending Club. To be quite honest, we have been floored by the effectiveness of our first simple version,” Ebrahimi says.
Perhaps they shouldn’t be floored though, as their regular users are paying down debts two times faster than if they tried to do it without managing it at all. “The company is already making a meaningful impact on people’s lives,” Polaris’ Prinicipal Ryan Spoon says. Indeed.
President Obama, the fellow leftists in his administration, and the Congress, nearly none of whom have ever made a viable contribution to the Gross Domestic Product, are hell-bent on seizing complete control of the economy. They are making the same foolish and arrogant mistake Marxists and Socialists have made since the mid-1800s, and the citizens of the United States will pay an overwhelming price for their folly unless the people begin to grasp the true cost to themselves and the country.
Those, such as Barack Obama, who believe they have a manifest destiny to rule and are faithful to socialist tenets, have a predisposition to control economic and personal activity through laws, regulations, taxes, and intimidation. They attempt to maintain this power by bribing the populace with massive social spending and promises in exchange for their votes. These commitments can never be fully honored; nonetheless those in power willfully keep the general public focused on blaming others for the failures of collectivist ideology and rely on the deliberately inept economic and civic education fostered at government operated schools to keep the majority of the people confused and bewildered.
As government grows and absorbs more and more of a nation's gross domestic product in order to finance this bribery, the less capital there will be for business expansion and job as well as wealth creation. Unfortunately many Americans do not understand that as a corollary to this activity, the standard of living and wealth of all citizens will continue to decline dramatically, as it is the private sector, not government, which creates prosperity.
Few things cause the eye to glaze over more than economic statistics, particularly when discussing incomprehensible sums in the trillions of dollars. But when it comes to the employment and wealth of Americans as well as the ability of the private sector to grow, there are two statistics that the public should be aware of, and one which everyone can relate to:
- The Gross Domestic Product (the total economic output of the economy); and
- The Net Gross Domestic Product per Person (the GDP less the amount of government spending at all levels divided by the current population.)
The Net GDP recognizes the impact of Federal, state, and local spending.
Ideally the Net GDP should increase every year adjusted for inflation. This would be an indicator of private wealth creation, higher personal incomes, and a healthy expanding economy, as money is more readily available for job creation. Despite minor ups and downs, the overall trend in a six to eight year period should always be on the positive side and normally has been over the past twenty-five years.
That is until the Obama years. The following table reveals what has happened since 2002 through the end of a potential second Obama term based on current and projected spending estimates -- a growth rate of 3.0% per year for the GDP was used. (Net GDP: inflation adjusted to 2002)
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<b>News</b> International's Leadership Crisis - Gill Corkindale - Harvard <b>...</b>Most charts I get sent are up and to the right. Not this one.
The chart ReadyForZero sent me (above) goes down and to the right. This is meant to showcase just how much debt the service is helping users eliminate. They’re the blue lines on the bottom. It’s like golf, the lower the better.
All told, ReadyForZero is already helping their users eliminate some $42 million in credit card debt since the beta launch just four months ago. We’ve covered the Y Combinator alum a few times over the past several months for a good reason: it’s a solid and much needed service. And today, investors are putting even more of their money where the credit card debt is disappearing, giving ReadyForZero a fresh $4.5 million Series A.
Polaris Venture Partners led the round with participation from Citi Ventures. It follows a $260,000 seed round last October that featured prominent angels like Steve Chen, Dave McClure, Benjamin Ling, Nils Johnson, and Maneesh Arora.
“This financing round will help us build more automation, engagement and optimization into the product — things like, managing your personal debt and credit reputation the same way you manage your investments and net worth,” co-founder Rod Ebrahimi says. “We hope this financing also furthers our image as a credible and legitimate option among within a notoriously ‘shady’ industry,” he continues, also noting that they’re hiring ” aggressively”.
“There is no doubt that there is a big opportunity here,” Ebrahimi says. How big? Well, some 77 percent of American families have debt. And the Federal Reserve pegs the total consumer debt amount at $2.4 trillion. Not exactly chump change — not at all.
And ReadyForZero obviously has some ideas on how to make money themselves while at the same time helping people. In fact, they’re already taking in some revenue. “We’ve actually booked some revenue and facilitated over $250k in loans
through our launch partner, Lending Club. To be quite honest, we have been floored by the effectiveness of our first simple version,” Ebrahimi says.
Perhaps they shouldn’t be floored though, as their regular users are paying down debts two times faster than if they tried to do it without managing it at all. “The company is already making a meaningful impact on people’s lives,” Polaris’ Prinicipal Ryan Spoon says. Indeed.
President Obama, the fellow leftists in his administration, and the Congress, nearly none of whom have ever made a viable contribution to the Gross Domestic Product, are hell-bent on seizing complete control of the economy. They are making the same foolish and arrogant mistake Marxists and Socialists have made since the mid-1800s, and the citizens of the United States will pay an overwhelming price for their folly unless the people begin to grasp the true cost to themselves and the country.
Those, such as Barack Obama, who believe they have a manifest destiny to rule and are faithful to socialist tenets, have a predisposition to control economic and personal activity through laws, regulations, taxes, and intimidation. They attempt to maintain this power by bribing the populace with massive social spending and promises in exchange for their votes. These commitments can never be fully honored; nonetheless those in power willfully keep the general public focused on blaming others for the failures of collectivist ideology and rely on the deliberately inept economic and civic education fostered at government operated schools to keep the majority of the people confused and bewildered.
As government grows and absorbs more and more of a nation's gross domestic product in order to finance this bribery, the less capital there will be for business expansion and job as well as wealth creation. Unfortunately many Americans do not understand that as a corollary to this activity, the standard of living and wealth of all citizens will continue to decline dramatically, as it is the private sector, not government, which creates prosperity.
Few things cause the eye to glaze over more than economic statistics, particularly when discussing incomprehensible sums in the trillions of dollars. But when it comes to the employment and wealth of Americans as well as the ability of the private sector to grow, there are two statistics that the public should be aware of, and one which everyone can relate to:
- The Gross Domestic Product (the total economic output of the economy); and
- The Net Gross Domestic Product per Person (the GDP less the amount of government spending at all levels divided by the current population.)
The Net GDP recognizes the impact of Federal, state, and local spending.
Ideally the Net GDP should increase every year adjusted for inflation. This would be an indicator of private wealth creation, higher personal incomes, and a healthy expanding economy, as money is more readily available for job creation. Despite minor ups and downs, the overall trend in a six to eight year period should always be on the positive side and normally has been over the past twenty-five years.
That is until the Obama years. The following table reveals what has happened since 2002 through the end of a potential second Obama term based on current and projected spending estimates -- a growth rate of 3.0% per year for the GDP was used. (Net GDP: inflation adjusted to 2002)
<b>News</b> Corporation Looks to Bolster Stock With Buyback Plan <b>...</b>
The company's stock price has dropped since the revelations of a wider phone hacking scandal at News of the World.
<b>News</b> Corporation Looks to Bolster Stock With Buyback Plan <b>...</b>Phone Hacking: Rupert Murdoch's Leadership Of <b>News</b> Corp Comes <b>...</b>
LOS ANGELES — As investors punished News Corp.'s stock again on Monday, questions arose anew about the leadership of its chief executive, Rupert Murdoch. The phone hacking scandal in Britain now threatens to engulf top ...
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<b>News</b> Corporation Looks to Bolster Stock With Buyback Plan <b>...</b>
The company's stock price has dropped since the revelations of a wider phone hacking scandal at News of the World.
<b>News</b> Corporation Looks to Bolster Stock With Buyback Plan <b>...</b>Phone Hacking: Rupert Murdoch's Leadership Of <b>News</b> Corp Comes <b>...</b>
LOS ANGELES — As investors punished News Corp.'s stock again on Monday, questions arose anew about the leadership of its chief executive, Rupert Murdoch. The phone hacking scandal in Britain now threatens to engulf top ...
Phone Hacking: Rupert Murdoch's Leadership Of <b>News</b> Corp Comes <b>...</b><b>News</b> International's Leadership Crisis - Gill Corkindale - Harvard <b>...</b>
Among the many shocking facts that have emerged from the News of the World hacking crisis, it is the revelations about News International's dysfunctional leadership and the NoW's brutal organizational culture that have ...
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