692 karma · joined June 24, 2013
Does this _actually_ solve a problem? Are cars that difficult to repossess? Is it possible this is a marketing gimmick and the securities backed by it are sold to investors who just really like the idea of being able to f*ck over a poor person the second he or she misses a payment? Is this really an economic innovation that lets riskier borrowers have cars, or is it a sales tactic appealing to veiled social darwinist sympathies?
Now, are these VCs providing the same amount of capital that the IPOs of 1998-2000 were? Hopefully someone with more insight can comment on this, but intuitively it seems to me that the burst couldn't possibly be as bad, since there's just less easily available money to suddenly dry up.