Contrary to the utopian rhetoric of social media enthusiasts, the Internet often makes the jump from deliberation to participation even more difficult, thwarting collective action under the heavy pressure of never-ending internal debate.

Making loans accessible to millions of the previously unbankable customers is a noble goal. Getting them hooked to such loans isn't.

As befits Silicon Valley, 'big data' is mostly big hype, but there is one possibility with genuine potential: that it might one day bring loans - and credit histories - to millions of people who currently lack access to them.

Evgeny Morozov Quotes