A few weeks ago, Shervin Pishevar went on Twitter to condemn the manner in which the US Government had neglected the economic growth of the country. He pointed out that other world economies were very determined to overtake the United States in the world’s economic leadership. In one of his twitter comments, Shervin Pishevar indicated that countries like China and Japan were sleepless in their quest to succeed the US to lead the economy of the world. One of the incidences that he pointed out to justify his views was the recent event in which the Chinese built a train station within nine hours. This was a clear indication that the country had embraced technology in a manner that has enabled it to conduct economic activities in a very efficient way.
One of the key obstacles that Shervin Pishevar highlighted to be causing the lad-behind of the US economy was the legalization of monopolies in the economy. There were companies that he pointed out as some of which have been contributing to this factor. Some of them included Amazon, Microsoft, Apple, Facebook and the Alphabet. On this issue, he indicated that allowing monopolies to control the market always discourages other new business from investing in the industry. Consequently, there is reduced competition in the market and hence no motivation for innovation.
Before his storm in Twitter, Shervin Pishevar had remained undercover for a very long timeThis was when he formed Investment company. Shervin Pishevar said that that decision was the best for his family’s interests, which had started to get dragged into his wars.
The technological advancements that have been initiated by GreenSky Credit have no precedence in the finance and lending industry. The technology that the organization has invented under the leadership of Zalik David has astonished a lot of industry players in the manner that it has grown popular. This technology involves a platform on the internet that has enabled successful communication between the merchants, creditors, consumers and the contractors to interact, all with a common intention of transacting business. This has been after a lot of suffering by the credit consumers in the industry, where they were subjected to tedious processes to get financial assistance from the financial institutions and other creditors. The customers were also required to fill in a series of documents with details that were unnecessary for the process of loan application.
After the foundation of GreenSky Credit back in 2006, the CEO of the company decided to make the company a lender to the small creditors and a guarantor to the contractors and the merchants. This way, the organization would be able to tap customers from all these businesses and make significant profits from assisting them most appropriately. Here is how the agreement operates: The small financial lenders and the creditors may have such a large customer base that they may face difficulties in meeting their credit requirements. Instead of turning down their loan applications, they continue vetting the applicants even without having enough capital to fund them. Once the vetting is over, and the customer is proved to be creditworthy, GreenSky Credit comes in and funds the customers on behalf of the creditors.
This engagement has been quite beneficial to many lenders and merchants as they can retain their market share even during the times of financial constraints. The customers are also at an advantage because their financial needs are fully met. The online platform by GreenSky Credit has also reduced the bulk of work that the consumers and the creditors were to do to complete the loan application process. On the other hand, GreenSky Credit benefits from a small percentage that is charged on the outstanding loan balance of every customer as commission.