A lot lessons can be learned from how Prosper and LendingClub started out with disruptive biz models, but were forced to plug into the rest of the legacy financial systems as they scale, and in this process they effectively became lead gen for traditional lenders
-
-
Replying to @mengxilu
I don’t think that was what drove Prosper’s business model transformations in early days, relative to: 1) Having 60 people determine which person has stuffed each for $50 is a recipe for generating a lot of violations of state law. 2) Illiquidity kills utility for best customer
2 replies 0 retweets 9 likes -
3) Biting off the retail securities issuance angle for the MVP was almost certainly suboptimal 4) There’s actually no material underwriting edge you can licitly and legally capture via using signals not captured in FICO/community suasion, at least not at any kind of scale.
3 replies 0 retweets 9 likes -
also remember that Prosper was basically two companies. With a buyout and recap under new team basically halfway through if i recall
1 reply 0 retweets 1 like -
Replying to @kevinakwok @mengxilu
I only spent a huge amount of time following the original one. (Which, oh boy, was that educational.)
1 reply 0 retweets 2 likes -
(It's honestly something I wish was re-ordered to later in life because I would have understood a lot more of what I was seeing if it had come after my HN days rather than before.)
1 reply 0 retweets 3 likes -
haha I really didn't track this. So this is very intriguing the way you're describing it like something you still have ptsd over
1 reply 0 retweets 1 like
Oh this was just one of those briefly-consuming-interests for me; the folks with lingering flashbacks to times past are the similar vintage note investors who had more than $500 in play :)
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.