Millennials in China Are Using Nudes to Secure Loans | Hacker News Reader

Millennials in China Are Using Nudes to Secure Loans

vice.com

64 pointspetethomas24 comments

I've come up with a better idea. I upload naked selfies of myself and my friends and family pay NOT to see them...

I almost spit out my tea! This is brilliant :)

Young women with good looks and poor economic circumstances can leverage the former to make up for (with varying tradeoffs and degrees of success) the latter.

Wherever business is happening there's scumbags looking to set up sleazy operations that exploit information asymmetry or use predatory business practices in order to screw people out of their money.

Put the two and two together and you get stuff like in the article.

This is a black mirror episode it has to be right?

Not yet but as the famous quote goes: "Art imitates life."

"Life imitates art" is the famous quote.

Or was it, “Life is artful imitation”?

LOL!!! I thought of the same thing. You beat me to it, ggahhh!

There is a general problem of massive amounts of liquid cash looking for an asset, and an increasing dearth in quality loan collateral. Appears nudes are the new pound of flesh.

Surely, next will be a way to securitize tranches of pawn tickets.

whatever way Wall Street slices&dices the securitized collateral from the guys pushing 50 like me the end result will still be junk bonds (pun intended).

I wish I had patented my idea.

NakedEscrow.com

http://web.archive.org/web/20110210234301/http://nakedescrow...

It's not too late! See: https://news.ycombinator.com/item?id=18568641.

You're assuming that it would have been enforcible in China.

Lending has always used reputation as collateral and the threat of social shame as an enforcement tool. "Pay up, or I'll tell everyone you're a deadbeat." Sexual propriety is far powerful social norm than keeping one's word; this was bound to happen. Still diabolical.

The exact same tactics used by the NXIVM cult - https://en.wikipedia.org/wiki/NXIVM

A small proportion of people doing a weird practice shouldn't be enough to warrant a generalized headline line this.

I find it ironic that China, the only major country left that is nominally communist, is the site of what seems to be the most alienated, abusive form of capitalism on earth.

Vietnam has 95 million people and a larger economy than Greece. I would consider it a major country.

Didn't mean to offend, sorry for that.

That's the danger with associating attributes to labels. Capitalism doesn't necessarily mean democracy or freedom. A country that calls itself communist still have can have capitalists doing well.

This isn't the point though. There's not much communism, if at all, in China, at least in the original sense of communism.

"10 gigabits of nudes"

Since when do we measure stored data in gigabits?

When we want it to sound like a bigger number.

Talk about "Open Kimono Negotiations"! (And yes, I know that China != Japan)

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