868 karma · joined June 14, 2008
Can you find a question (not an answer) that can help you look at things differently? Who is it who is jealous? How does it feel to be jealous? What's going on right now?
- they always know what's in stock in which facility when you order, no more replaced or missing items - they don't charge the high 20-30% markup that instacart charges to their customers
in terms of marketing, they could probably have lower cost of acquisition on scale as well. - they could market their app in-store very aggressively at every single checkout counter.
what Safeway is most obviously lacking is a frontend that's as good as instacarts, but now that instacart has shown how to build it, it should be easy for safeway to build this out.
maybe they don't have their distribution setup such that they could actually deliver within 1-2 hours? what else am I missing? how can this be a defensible business long term?
We are now doing around USD 1M per month, are growing the number of borrowers rapidly - which allows for more diversification and better returns (on average)
We allow investors who think and breathe in USD (or other fiat currencies, for that matter) to invest all around the world 'using btc', without exposing them to btc. The returns we generate are so high because we have borrowers whose only alternatives are pay-day loans with 3000% APR (checkout wonga.com) or credit-card interest (checkout brazil's crazy 120-200% APR on outstanding credit card debt) If we provide 30-40% APR interest for them, that is a huge win, they can refinance their high interest debt and repay at a much lower rate. At the same time, that is how investors can make 19% a year after some defaults.
that is not true. Checkout https://btcjam.com. Investors have funded over $4M in loans so far, growing quickly. Loans can be linked to USD (if your revenue is in Fiat) or BTC (if your revenue is in BTC, for example for a miner). In other words, you get a loan denominated in USD, but paid in BTC and you are removing any exposure to the volatility. If the BTC price has doubled when you repay your loan, simply pay half the amount of BTC.
The bitcoin price doesn't matter for the linked loans. Bitcoin is more than just a store of value - it is also a means of sending value across the world for very low fees - and in this case, giving credit to people who can't easily obtain it at affordable rates.
(disclosure: I work at BTCJam)
What a feature by TC is saying, this startup is interesting enough that TC wrote about them. It is a sort of a filter, much like YC is one.
Being written about on TechCrunch can also help create a sense of urgency with the investors you are already talking to, because now there is potentially more people interested.
a quick look at quantcast shows that US traffic (which is by far the most monetizable) hasn't grown at all since july 09 (though there is a nice bump in intl. traffic) http://www.quantcast.com/twitpic.com
so i would say 2-3 mio is a more reasonable assumption than 5 mio. which is still fantastic.