David "How to Sharpen Pencils" Rees describes the Rolling Jubilee, a project from Occupy Wall Street to buy up, and zero out, other peoples' debts:
Now OWS is launching the ROLLING JUBILEE, a program that has been in development for months. OWS is going to start buying distressed debt (medical bills, student loans, etc.) in order to forgive it. As a test run, we spent $500, which bought $14,000 of distressed debt. We then ERASED THAT DEBT. (If you’re a debt broker, once you own someone’s debt you can do whatever you want with it — traditionally, you hound debtors to their grave trying to collect. We’re playing a different game. A MORE AWESOME GAME.)
This is a simple, powerful way to help folks in need — to free them from heavy debt loads so they can focus on being productive, happy and healthy. As you can see from our test run, the return on investment approaches 30:1. That’s a crazy bargain!
Now, after many consultations with attorneys, the IRS, and our moles in the debt-brokerage world, we are ready to take the Rolling Jubilee program LIVE and NATIONWIDE, buying debt in communities that have been struggling during the recession.
We’re kicking things off with a show called THE PEOPLE’S BAILOUT at Le Poisson Rouge on Thursday, November 15. It will also stream online, like a good ol’-fashioned telethon!
I just put in $100, which will erase $3000 worth of someone's debt.
The People’s Bailout
Studio North was commissioned to refit an old elevator shaft in a converted warehouse loft in Calgary; they built a tall, narrow library with climbable shelves whose hand- and foot-holds retract into the shelving.
Libretaxi is an open source project that lets anyone become a rideshare driver in less than a minute; it has more than 20,000 users worldwide, and is maintained by Roman Pushkin, who started the project in December 2016 and is now planning to quit his job and work on it full time.
Mister Alphabet is an action-figure designed to cleverly bend and contort into every letter of the Latin alphabet; the website is long on trademark warnings and arty Instagram photos, but short on details, like, “Is this an object of commerce?” and “If so, where does one buy it?” (via Kottke)
You know the drill. You go to the dentist and they ask you how often you floss. You lie through your teeth and say, “every day!” (Bonus points if you have some cilantro or chives stuck in your gums from lunch). You don’t want to keep up the charade any longer, but rubbing that tiny strand […]
The Raspberry Pi Foundation has done outstanding work packing a fully capable desktop computer into a package the size of a deck cards—especially one that only costs $35. But if you already have a working laptop, why should you care? Oh, how much you have to learn. Besides operating well as a compact digital media hub, […]
Custom coffee vessels are the perfect piece of office flair, but it’s just a matter of time before your VOTE FOR PEDRO mug will start to lose its relevant wit. Why not have a new one every day, with whatever silly nonsense you want sticking off the sides? You can save big on your novelty […]