Re:Ask HN: What problems don't have a profitable business so...
by twobyfour on Wednesday December 13, 2017 @07:57AM
(#15913898)
Yes, they solve one problem related to poverty. But because their motive is profit, they can do so only at a cost that exacerbates the underlying problem of not having enough money.
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Re:Ask HN: What problems don't have a profitable business so...
by mjwhansen on Wednesday December 13, 2017 @08:46AM
(#15914131)
Sure, it certainly does. Yet there are also for-profit solutions that are helping significantly with poverty as well and helping people manage the cash flow and savings issues of being poor — take Instant Financial, for instance, which allows workers to get paid daily[1], and Walmart’s MoneyCard app, which uses behavioral finance to trick people into saving money.
When we close ourselves off to the idea that financial insecurity cannot be solved profitably, we close ourselves off to a multitude of potential solutions.
[1] https://www.wsj.com/articles/apps-let-workers-make-every-day... [2] https://www.google.com/amp/s/www.theatlantic.com/amp/article...