Upstart encourages students to go their own way. This is how it works:
Beginning in the spring of their junior year, college students or recent
grads—anyone from a poet who wants to start a literary magazine to a
business major looking to build a boutique hotel in Brazil—can
apply to be an “upstart”. The applicant is screened to make sure they
are who they say they are and the company predicts how much money they
will make over the next decade. That information becomes their funding
rate, which helps determine how much they can borrow and how much they
will need to repay. On average, for every $6,000 a student wants to
borrow, they must pay back 1% of their income. (Right now, Upstart is
very selective about the students it accepts—they want people with
high-quality profiles and clear goals—but in the future Girouard says
they would like less of the arbitrar of who is funded, so long as a set
of minimum requirements are met, and let the marketplace decide.)
one of the best ways to learn about creativity is by reading a lot of
fiction, history, the great books, and experiencing great music and art.
You learn so much about connections, human psychology, and the craft
of making the imagined real.
Trust allows larger scale economic enterprises beyond the immediate family. But how does this occur? Fukuyama argues that large private organizations like guilds or church based civic Associations are key. If the state replaces these organizations, trust withers. Somewhat confusingly the author argues that individual rights taken to an extreme are also to blame. Perhaps the author is suggesting a return to paternalistic corporatism?