Monday, October 13, 2008

The Next Big Idea in Online Payments?

Sunday's Globe column focuses on two recent Boston College grads who are focused on developing a better way for groups to handle expenditures. The company is called WePay, but the service isn't yet up and running.

Here's the video:

My favorite quote comes at the end, from Lee Hower, a veteran of PayPal and LinkedIn who now works at Point Judith Capital in Rhode Island:

    [Hower] says he believes there are opportunities for entrepreneurs to find important problems to solve, even in tough times. After leaving PayPal, Hower went on to help start LinkedIn. The founders began brainstorming in 2002, with much of the tech world and the larger economy still in a funk; the company went on to grow into the largest social networking site for businesspeople.

    "Negative macro trends are a bad omen, for sure," Hower says. "But they also affect things like finding office space and hiring people. The nuts and bolts of building a business can actually become easier when the overall economy is trending downward, as opposed to when it's in a bubbly state."

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