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A comment on Regulators Shut Down Lending Platform (YC Alum) LendUp. Parent comment

Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by troupe on Wednesday December 22, 2021 @05:05PM (#29656061)
Assuming that everyone is acting in their own best interest, then a 36%+ interest rate would only be used by someone who is in a situation where it is better than their alternatives. If the option was not available, then they wouldn't have the alternative that is best for them.

If someone is NOT acting in their own best interest, then there are an infinite number of things that need to be removed from their options.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by baq on Wednesday December 22, 2021 @06:00PM (#29656585)
Standard humans routinely fail to correctly asses options. They can’t even if they’re aware they can’t. Economists are still coming to terms with how badly the rational choice theory predicts human behavior.
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