Links of Note: May 9, 2007

Navigation

You are here: Home > Links of Note: May 9, 2007

Links of Note: May 9, 2007

May 9, 2007 9:42 AM Posted by mac

Business:
Got Cash? You Can Loan Money Like a Big-Time Banker (Wired)
Wired's profile of Prosper, a loan marketplace, shows the power of distributed financing.

Wannabe borrowers give Prosper permission to verify their identity and allow the company to access their financial data as collected by Experian, one of the three big credit-scoring agencies.
Prosper then gives the borrower a credit rating and helps match his or her loan request with a number of lenders. A $5,000 loan, for instance, might be funded by 50 people who each lend $100.

The system is still working out its kinks, but a viable loan alternative opens the door to all sorts of unusual applications -- including envelope-pushing businesses with risky/farsighted ideas.

Journalism and Blogging:
A Boston Newspaper Prints What the Local Bloggers Write (New York Times)
BostonNOW, a new free community paper, is publishing blogger submissions in its print edition. By itself this isn't earth shattering news, but BostonNOW editor-in-chief John Wilpers deserves credit for "getting it."

How so? BostonNOW is taking a page from the citizen journalism handbook by harnessing the power of local bloggers -- people who have expertise in a small niche, like a neighborhood or local sports -- and combining that power with traditional edit. But here's where Wilpers and BostonNOW are different: bloggers retain ownership of their material and BostonNow is looking for ways to incentivize content submissions.

Mr. Wilpers said he wanted to compensate bloggers but was still considering the best way to do so. For now, he has come up with rewards packages that include things like press credentials or consulting services to help bloggers make money from traffic on their sites.
“If you’re writing about Boston sports, what’s more valuable to you, $25 or a press pass to the Red Sox? Or a backstage pass as a music writer to interview the band you’ve always wanted to interview?” he said. “It’s something they can’t get but as a newspaper we could.”

Wilpers' quid pro quo mindset separates BostonNOW from the pack. Far too often, citizen journalism endeavors (e.g. BlogBurst) forget one key component: why would anyone contribute? The answer to this question doesn't necessarily involve cash, but it has to involve something of value.

Production Gripe: The New York Times article doesn't include a link to the BostonNOW Web site, which is odd since bloggers use the site to submit their material. You can access BostonNOW here.

Via Editors Weblog