“Wonga is an ethically bankrupt investment. Venture investors have a duty to create value for their limited partners - but not by subtracting value from others. Think piracy’s theft? What about usury? Though Wonga argues that it tries to help lenders, it can never do so sustainably. Why? The problem is in the DNA - Wonga’s incentives are perverse. The less you can pay off your original loan, the more we profit. In turn, Wonga cannot act for the common good - whether it wants to or not.”
via Umair http://bit.ly/m1DwE

Notes

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