GreenSky Credit’s Amazing Story

I’d like to highlight one of the most brilliant ideas for making money I’ve ever come across. I first stumbled into the story about David Zalik and GreenSky Credit on Forbes. I then found more information on Bloomberg, the Wall Street Journal and Wikipedia. I kept reading because David has figured out a way to make billions of dollars without any liability, risks or ownership.

Didn’t Finish High School

David was a math genius growing up. His high school identified him as gifted so they sent them off to Auburn University. He founded his first company in college at the ripe age of 14. This taught him incredibly valuable entrepreneurial skills which he was able to apply to GreenSky Credit.

The Auburn University company was simple enough. The math genius was able to build computers from scratch and sell them to students at an attractive price. The company began making so much money that he had to expand. He even dabbled in software before dropping out of school altogether. In fact, many high functioning entrepreneurs don’t survive the college experience because they’re making so much money.

Dropping Out Of College

The guy then went out on a limb for his new idea. He gathered up all of his family’s property in Georgia in order to use it as collateral for a $10 million startup loan. He then went to work on his most incredible idea — the GreenSky Credit app.

This simple app has allowed him to amass a $2.5 billion fortune. He’s not even satisfied with that much money. His idea revolves around the homeowner which is the most profitable demographic in the United States.

The App

He crafted a brilliantly easy-to-use app that connects homeowners with the financial products they seek in order to make home improvements. The app fills out most of the application with a scan of a drivers license. Approval takes place in seconds which puts contractors to work.

Contractors advertise the app to get more work. In exchange, they cut GreenSky Credit a portion of the profits. Traditional banks fulfill the loans and take all risks. In exchange, the banks share some of their profits. This gives the financial tech company no risk, no ownership and plenty of profits.

 

https://www.wsj.com/articles/whos-the-most-valuable-online-lender-after-this-deal-its-greensky-1514911495

Next Step of Business: FreedomPop attempting to Offer Free Access to WhatsApp

FreedomPop is an up-and-coming MVNO (Mobile Virtual Network Provider)that specializes in the distribution of SIM and micro SIM cards as well as little-to-no cost basic mobile services, namely calling and texting.

In order to win popularity and reputation in the mobile network industry, they have recently announced a new feature: zero-rated access to their own app, WhatsApp. This means that anyone, regardless of whether they have little or even no data allowance, will have completely free access. The downside?

FreedomPop is a self-made company based out of and founded in Los Angeles California five years ago. Their game-changing objective? To give free talk time, messaging and data allowance to people who can only afford the most basic of cell phone services. FreedomPop has stayed in and maintained operations within the United States for most of its existence, although it did make it’s first international entrance in September of last year (2015). Their launch in Spain is now their third country to do business with and gives some possible indications to how it has the potential to revolutionize mobile cell phone service across the globe.

The Facebook-owned company needs little introduction. Facebook, as well as other social media services, have offered WhatsApp along with their other services, but the idea of a zero-rated app has been banned in some markets across the world.  This law prohibits services to favor some demographics, as it shows “discrimination.” Similar problems have happened in the European Union, but the EU is leaving regulations to the discretion of its member countries.

More information about FreedomPop and their international endeavors can be found at the following link: http://www.recode.net/2016/1/20/11588924/freedompop-raises-another-50-million-to-offer-cheap-global-roaming

Check out this FreedomPop review: http://www.pcmag.com/article2/0,2817,2427635,00.asp