Debt2.0

Paul Sweeney looks today at the story (via Lifehacker) of Tricia, a woman who put his credit card debt up for sale on peer-to-peer lending site Prosper (the US Zopa). Credit card debt - 13% APR. Loan from Zopa - 9.9% APR. Peer-to-peer is (self-evidently) cheaper for a lot of people that expensive institutional credit card debt.

This is why everyone makes such a big deal about online reputation management (and why eBay banned Rapleaf - a portable rep management solution is the holy grail of the identity web and eBay wasn't about to help a competitor scale one). In a wired world, your market value is a function of your ability to carry your reputation with you - and Tricia just proved it.