I have always been a fan of kiva, a website that made peer-to-peer microfinancing possible. I liked it so much, that we had a club in my university, just to have fundraisers, so that I an my club members could making a bigger contribution to the lives of these people. I have even met a Kiva Fellow, and have worked closely with their microfinance partner in Nepal. So, it was not entirely surprising to me, that around 5 month back, I had an idea to use a a peer-to-peer, or crowd-funding model, to help increase employment in the US.
The reason I started thinking about unemployment at all, was because my stock portfolio wasn’t performing too well, and I realized that employment will have to increase, for US economy to become stable again. I also came across an article, which talked about unemployment due to minimum wages. I sincerely think that the only way to get around the problems of minimum wages, is by including private donors t fund the difference between supply of wages by the business, and the demand for it. Policy changes are not an option because the gains from minimum wages, far outstrips the losses from it.
Adding these two ideas gave birth to Giifa. It went from partially funding new jobs to using crowd-funding to wholly funding new jobs in non-profits.
Currently, I am in the process of developing the website, and making business contracts with affiliates to work with. But, before I complete it and launch it, I wanted some help with market research. I have designed a short, 5-question survey, and for every submission I get, I will give $1 to an entrepreneur using kiva’s website. More details here <blog post link>.