09 August 2007

Big Finance, Little Grid

Login and sim down problems have been plaguing the grid. *grumbles*

Ginko's down. Doesn't hit me personally, but I know some people who used it. Including more than one who didn't realize Ginko was having serious problems - they thought the ATMs weren't working because of a tech problem. Apparently any money in it is being converted to bonds (promises of future money) which you can sell. The whole banking-in-SL concept seems crazy to me because of the lack of oversight and legal recourse. Their returns just didn't make sense.

It has me wondering whether there are any venture-capital funds in SL, and whether the people picking the ponies are any good at it. I suspect there aren't - just not enough money in it yet to draw them in. I know there's groups that do VC rounds for themselves (if I remember right Sarah Nerd's a good example.)

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