Online Pawn Taking Off
Groupon founders Eric Leftkosky and Brad Keywell are onto the next big thing in e-commerce: pawn shops. Pawngo is aimed at people who need $1,500-15,000.
What's the Latest Development?
Groupon founders Eric Leftkosky and Brad Keywell, who now run an investment group called Lightbank, are onto the next big thing in e-commerce: pawn shops. Lightbank recently led a $2.3 million Series B round for a company that has been renamed Pawngo. Previously called Internet Pawn, Pawngo will give you a valuation for your valuables online rather than making you send them in before hearing what they’re worth. The business model is aimed at people who need between $1,500 and $15,000. Loans are built to last three to six months and Pawngo nets a “monthly option charge” of 3-6 percent per month.
What's the Big Idea?
“There’s nothing shady about using something you already own to get cash quickly,” explains Lightbank founder-in-residence Kevin Leland. “We’ll loan up to $100,000 in 24 hours, which is something no bank would ever do.” Historically, 90 percent of Internet Pawn (Pawngo in an earlier incarnation) users returned to pick their assets up, but eventually if it is a big enough business it may set up an online storefront to sell unretrieved items, Hillis and Leland said.
The ability to speak clearly, succinctly, and powerfully is easier than you think
The ability to communicate effectively can make or break a person's assessment of your intelligence, competence, and authenticity.
The results come from a 15-year study that used ultrasound scans to track blood vessels in middle-aged adults starting in 2002.
- The study measured the stiffness of blood vessels in middle-aged patients over time.
- Stiff blood vessels can lead to the destruction of delicate blood vessels in the brain, which can contribute to cognitive decline.
- The scans could someday become a widely used tool to identify people at high risk of developing dementia and Alzheimer's.
What defines a dark horse? The all-important decision to pursue fulfillment and excellence.
When we first set the Dark Horse Project in motion, fulfillment was the last thing on our minds. We were hoping to uncover specific and possibly idiosyncratic study methods, learning techniques, and rehearsal regimes that dark horses used to attain excellence. Our training made us resistant to ambiguous variables that were difficult to quantify, and personal fulfillment seemed downright foggy. But our training also taught us never to ignore the evidence, no matter how much it violated our expectations.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.