Google's response to Facebook - "Maka Maka"

Via TechCrunch

"Google may have lost the bidding war to invest in Facebook, but it is preparing its own major assault on the social networking scene. It goes by the codename “Maka-Maka” inside the Googleplex (or, perhaps, “Makamaka”).Maka-Maka encompasses Google’s grand plan to build a social layer across all of its applications."

Lending Club - a new way to make money online

Now this is a fascinating development. Lending Club is a financial service for Facebook members - where Facebookers can borrow or lend money to each other, thus bypassing the traditional bank fee structure.

There are more details here

Quote:

Lending Club is creating a direct person-to-person shortcut in borrowing and lending, bypassing the traditional role of the banks. Banks usually collect deposit on one side and extend loans on the other side; we provide a shortcut, a way to directly match lenders with borrowers. Starting today, we are offering a way for Facebook users to take personal loans of $1,000 to $25,000 funded by other Facebook users. Members who have the financial capacity are now able to extend loans to a pool of other members they choose from their network, neighborhood, and alumni. Loans carry a lower interest rate than bank loans but higher than a savings account, so both lenders and borrowers get a good deal.