October 2006 Archives

MIT re-invented the wheel here again - as mentioned in this CNN article. It's an incredibly cool concept, promoted by good old General Motors. Think of it as the Mercedes Smart for 2 car redesigned with electric engines, tram-like infrastructure requirements and the works. All in all a great idea. However it raises the age old question for car companies: How do I sell this thing? Awesome - Here's where they can learn something from our own homegrown Greenwheels. They have a similar concept - you don't own one car. You buy into a fleet of cars and use whatever you want when you want it. The cars are parked all over the place, and you can use one if you find one. Just swipe your card, and off you go.. Full disclosure: I'm not a member of the greenwheels system. I own my own car, and love it.

What an absolutely wonderful choice. Where I come from - India, people talk about eradicating poverty, some people give to beggars, some people get the government to give handouts. But for the most part nothing happens.. Muhammed Yunus and the Grameen Bank changed the world for good. Empowerment and Entrepreneurship sustained through microlending to the poorest of the poor. A few features:

1. 94% of borrowers are women
2. Self regulating
3. No legal instruments
4. No bank branches
5. Agent for social change
6. Effective remedy against poverty

Bloomberg has a brief article here I wish I could ever meet Mr. Yunus.