What completely legal /biz/iness did you hesitate/didn't start because of ethical concerns?
I live in a run down third world Asian country and I know that if I start a US style walk-in small loan business it would make millions. The way that they operate is by landing money at 2% daily compounded interest. It accumulates almost exponentially and eventually the person becomes a debt slave(unless they pay on time). I cant start it because I am certain that many people will commit suicide over that and its almost scam-tier.
Another thing that doesn't exist here are instant lottery tickets. Again, people will get completely addicted very fast and it will ruin many peoples life's.
What did you pass on because you have some ethics?
>2% compounding daily
Lol who the fuck would fall for that?
>>1211436
Broke third world asians in need of funds
>>1211436
Well, people actually first see the 2% figure and think that its a fair deal. Literally millions of people fell for that. To not be able find a friend who can land you 100 usd already puts you into sburgers category. here is a great expose by current year man himself John Oliver: https://www.youtube.com/watch?v=PDylgzybWAw
They are called payday loans and they have more points where you can get one in the US then the US has mcdonals and starbucks combined.
>>1211433
>start loan business
>tons of Asians take the money and run
>police won't help you
What's your plan now faggot?
>>1211525
With that business model even if a bunch of them run or die it will still be profitable. The margins on predatory landings are huge. If they ever turn up they owe the company obscene amounts of money. Even fuck ups sometimes come across money or property as inheritance. In that scenario it will just be taken away as repayment of the loan. Also, even though its a country that resembles anarchy people are connected to their land/family. Its easier to find them through their family, there are literally religious rituals that the entire family has to attend once a year or else hell. Also the police is very pliable if they have a financial compensation. Hiring collectors would be the way I would go though. Anyways, this is not: "I have the best idea ever tell me why it wont work thread", its "I am sad that I know a way to become rich but cant implement it" thread.
>>1211436
you kidding bra? people here take loans that are like 5000% annually. people are retarded
>>1211556
just do it an donate a quarter of your profit to a children's orphanage or something
>>1211433
I've always been curious about lending at such rates. Without a leg breaker, what's to prevent the borrowers from defaulting?
>>1211562
I was thinking about that. I do feel that no amount of good I can do can compensate for the suicides. People for some reason are very prone to killing themselves over financial problems even though it seems a bit silly to me. Its the sense of hopelessness I suppose? There was a thread on a regional board about a guy who wanted to kill himself because he owed 10 000usd. In the US people graduate college with an average of thrice that money owed and its called : "beginning your life"
>>1211584
The loans are usually not big enough to declare bankruptcy over, people often have other assets they don't want to loose, sometimes they find a family member to bail them out. The key is that these loans start as very small. Often people take more and more loans to pay for the loans and stay in denial.
>>1211593
if they're stupid enough to take an aggressive loan, not pay it back, and then kill themselves , perhaps they deserve it. you're just facilitating Darwinism
>>1211593
>loan shark
its nothing original. 2% per day would violate any countries usury laws if they have them so you would need to look into that. secondly as many pointed out collecting would be neigh impossible without having thugs collect. you would be dealing with people who have bad enough credit they cant get a loan from a bank so they have nothing to fear about paying it back (ruining credit being the reason you pay it back normally).
idunno, sounds like a charity unless you plan on breaking the law.
>>1211598
Thanks. But I'm not talking about bankruptcy filings. What's to prevent the debtor's from not paying back the money? A person doesn't have to file for bankruptcy to not repay his loan.
What can you do where you live to encourage a borrower to repay his loan?
>>1211615
Banks here are not very eager to provide loans to anybody because the economy is close to non existent. Short term loans are meant for people who ran out of money and wouldn't go to the bank to take a proper loan in order to pay rent. Even though there are some low lifes and some money will be lost to people defaulting I assume that the majority of the people taking the loans will be normies who are not doing so well financially. Repayment of loans is enforced even in Bangladesh(which is total savage tier) so I think that my little Nepal would do ok. The hiring of thugs to collect loans is so much easier and more accepted then you would think. The levels of corruption are insane. As for the law, you might be either right or wrong I honestly am not sure but I doubt that such a law exist. Fun fact: we have zero traffic lights in a country of 30 million people. The chances are, laws are not in place to regulate loan percentages.
>>1211617
A collector agency!
>thugs
I would provide loans of 10-300 usd so even if a lot of them will be lost it will just be written of as an expense for the firm. The profit margins would cover all the people who ran away to the hills.
>>1211453
>Predatory lending
If that's not a loaded term, I don't what is.
>>1211644
Thank you. I've known about collection agencies but I never knew they could be so effective in other countries. Here in the U.S., just trashing someone's credit report could make it difficult for that person to find work so that's one incentive for people to pay up.
I've never gone into this field because it kind of sickens me to take advantage of poor people so badly. And a lot of the collection agencies really operate on the fringes of the law. Just unpleasant business all around.
>>1211433
Lottery would probably be more ethical than small loan business. If you're worried about people killing themselves you could have a limit on how many tickets a person can buy each day, and also try to make sure they understand the odds of winning.
Yes, regular lottery is not unethical at all. Instant lottery when you scratch a ticket however is as addictive as slot machines. It works on similar principles and people literally cant control themselves sometimes. Instant gratification, so the subject keeps pushing the button until it comes or he runs out of money.
Building churches, then renting them out to charismatic cult-like preachers who can sucker parishioners into funding insanely high rents.
Child "modeling". Needs no explanation.
Trailer parks for shitskins.
Getting DXM shipped from China and reselling it on the darknet markets.
>>1211738
How are trailer parks unethical? Child modelling and DXM sound illegal somewhat. Church scam fits description.
>>1211745
Running a trashy trailerpark like I had envisioned would involve being a slumlord. Have the put their trailer down as deposit and hope they stop paying rent. When they do, rent it out until it gets torn up, then scrap it, and do it again. I once lived in one of these when I worked in the oil field. It was a complete dump and the owner had three thugs going around picking up rent every 10th.
DXM sale may or may not be illegal, I'm not sure. Modeling is a gray area and generally up for debate in court, but highly exploitative.
>>1211751
Thanks for the clarification. I would also include porn into my list. Legal, profitable yet to far of the grey line for me.
>>1211751
DXM is an interesting drug because it's sold OTC in the united states but i'm sure if the feds wanted could pin some charge on you. You might be able to evade the Analogue Drug Act because DXM is scheduled but you might get something weird like "practicing without a license". Legality is questionable, probably hard to enforce.
>>1211760
I was thinking that if it was illegal it would be on the importation part. But it would have to be that way to make a profit, since if I had to extract the shit from cough medicine myself, it couldn't possibly be cheaper.
(I have also thought about selling stuff like (pseudo)ephedrine and other precursors that aren't easily purchased in bulk by the degenerates who use it. But not only is that obviously illegal, but also, in general, I don't know if I could sleep at night piddling around with drugs that hard.)
>>1211771
There's a very large market for (meth)amphetamine precursors. Even if your morals would let you, you would be competing with cartels, gangs, and dealing with who knows. Not really worth it.
Ah yeah almost any drug is illegal to import in bulk. I was thinking once it got stateside.
>>1211649
The business model is predicated on people not paying in time though. While I think people should be responsible and use their wits, it definitely is 'predatory' in nature.
>>1211433
you could look to replicate the grameen bank version of microcredit on a small scale if you already have liquid capital
>>1212408
Grameen was created as a tool to fight poverty and the global community still thinks that this is the magic bullet of ending poverty. While its true that some people manage to use this system for their profit a closer statistical analysis proved that its a meme. A bunch of people in Bangladesh sank into debt, one even worse then before. Wiki:
>Some analysts have suggested that >microcredit can bring communities into debt >from which they cannot escape.[52][53][54] >Researchers have noted instances when >microloans from the Grameen Bank were >linked to exploitation and pressures on poor >families to sell their belongings, leading in >extreme cases to humiliation and ultimately >suicides.
So lending money at extremely low interest rates which was created as a charity to uplift people from poverty still brought people further into debt and some committed suicides. And that's not even predatory landing.
