It’s important to own nothing if you want to be a billionaire. You don’t want your company to be mired by inventory, depreciation, loss or damages. You want to make money while owning nothing physical that can wear down, break, be stolen or lost. It’s a difficult idea that has been mastered by David Zalik and his company GreenSky Credit.
You can read about David Zalik’s incredible story on Wikipedia or in Forbes Magazine. The guy never technically graduated from high school or college because he was advanced to Auburn University at the age of 14. At Auburn, he built computers from scratch and sold them to students. He rolled those profits into other companies before coming up with his GreenSky Credit idea that had him dropping out of college.
David Zalik’s GreenSky Credit idea connects homeowners to contractors for home improvements. It is a smartphone app that homeowners can use to procure a loan for home improvements which fuels more work for contractors. The app only approves those with great FICO credit scores. GreenSky Credit then takes these loan applications to a bank.
The bank funds the loan which means they take on all responsibility for the loan. In exchange for the loan, GreenSky Credit receives 1% of the spreadsheet annually. Contractors also cut the Fintech company 6% of each loan amount.
GreenSky Credit Own Nothing Physical
The Fintech company makes a ton of profit without any liability or ownership. The only thing that the company owns is the transaction itself. The bank owns the loan and all of its responsibilities while the contractors own all the inventory. After all, home improvements need to be performed with tools and supplies.
David Zalik has amassed a $2.5 billion fortune while owning nothing but a smartphone app. He’s the ultimate American middleman and it doesn’t seem to be slowing down anytime soon. If you want to make $1 billion just look at what this math prodigy has done in the world of financial tech. He owns nothing but profits off everything.