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27 Comments

  • Buick City One year ago

    I was so ecstatic to see prosper was this weeks Friday chat I love prosper.com! You did forget to mention the best part of prosper, diversification. Why loan one person 10 grand (nonono to much risk) when you can spread your money across 200 people based on return and risk tolerance levels..

    • howard lindzom One year ago

      Tons of borrowers, but will the lenders come…yes me thinks

      • Richard One year ago

        Howard, why are you showcasing a privately held company?

        • John One year ago

          That laptop is hideous. Do yourself and viewers a favor and go back to the Mac. It really throws off your set and is a terrible distraction. You do realize that it’s red and absurdly bulky, right?

          • Brett One year ago

            Prosper.com is a really innovative concept, but not a good tool for investors. Prosper is great because you can read the borrowers stories, review credit scores, and see the borrowers financials. I really like the concept, but as an investor I am a little skeptical. You have to question the integrity of people willing to put their picture and life story on a website asking to borrow money. I would much rather pay a higher interest rate on a credit card then go on the internet and tell people my life story. Most of the borrowers likely have no other option and are more likely to default on their loans. Has anyone used prosper.com successfully?

            • John One year ago

              Brett, I tried but couldn’t really figure out how to get the $. I wanted a home equity/rehab type loan but it was confusing as to how you apply. I remember you had to join a group or something and they had to accept you. It’s easier to go to a bank and show them proof of employment with a pay stub. Anyhow, prosper.com is an interesting idea and I’m sure it works in some situations. However, I found a local bank that gave me a rate and loan type that was better suited for my plan.

              • howard Lindzon One year ago

                Richard -

                To expand your horizons. Go with it :)

                • moom One year ago

                  Investing through Prosper is a lot of work to get enough diversification. But some people just love it.

                  • Russ One year ago

                    I just signed up as a “lender.” Bank of America eat your heart out!

                    This can change the adage “Never a lender nor a borrower be….”

                    Thank you Howard, WallStrip, CBS, et al.

                    • howard Lindzon One year ago

                      russ - let us know how it goes - also - read my blog post to see links on how other are faring.

                      • maximo One year ago

                        What a cool concept! Sound a bit like third-world micro credit. I just hope the outcome is good. When I lend money to a carpenter in Kenya I know he buys tools. Do borrowers at Prosper.com disclose what they will do with the money? That I think will play a huge role in attracting lenders. I would lend anyone money (not that I have a lot) to start a gun shop or to buy pitbulls.

                        • maximo One year ago

                          I would lend anyone money (not that I have a lot) to start a gun shop or to buy pitbulls.”

                          That was a joke!

                          • Howard Lindzon One year ago

                            your best returns will come from gun shops or pitbulls, not what the average borrower wants it for.

                            Here is my post with the links to people lending and their experiences

                            http://howardlindzon.com/?p=2352

                            • Jagwar One year ago

                              This site sounds like a great arbitrage opportunity if you have a high credit score. Borrow based on your good credit, lend to 100 people one notch lower in credit, earn the spread in rates minus the fees and bad debt.

                              Im sure some are already doing this.

                              • Richard One year ago

                                It’s called sub-prime lending.

                                • Richard One year ago

                                  Expanding my horizons, thanks Howard, I do believe I see the light.

                                  • Mark One year ago

                                    I’ve been a prosper lender for some time now, and it really is entertaining. It’s like “financial porn” in that people publicly disclose the most intimate aspects of their lives for strangers! They are essentially signature loans - the person may say they want to pay off their credit cards, but once they get the money, they can take an extended vacation, buy a treehouse, etc. My 13 yo son enjoys the site too, looking for the people with the most money currently in default ($220,000 is the record right now), how many defaults they’ve had in the past 7 years, etc.

                                    • Doug M One year ago

                                      i still can’t believe people are mad about your laptop. anyway this was a very interesting show to wwatch and it will be interesting to see how this company plays out.

                                      • Lance One year ago

                                        i gotta say the laptop is killing the vibe

                                        • Howard Lindzon One year ago

                                          wait till you see our microsoft set next week :)

                                          the show will keep getting popups

                                          wooooooooooo

                                          • John One year ago

                                            It’s not necessarily MS/Dell/Windows vs Apple… It’s merely the fact that only a six year old boy would find that computer “cool,” because it matches his action figures and toy cars. Have you done a show covering Dell? The company’s sense of design and usability borders on being nil. Obviously the end result is to just add more plastic.

                                            Laptop aside, keep up the great work!

                                            • Buick City One year ago

                                              I agree completely againast the dell the mac fit alot better, but if it keeps everyone paid who cares… I think dell did alright for 2Q… I work for SPLS and remanufacted Dell cartiages are huge sellers considering you can only get the real ones online…

                                              Only thing about Prosper that makes me worrisome is most the people on there are financially strained already and are trying to consolidate credit card or other debt. Hard to find a base of good bets but my assumption is more credit worthy people will join as the word gets out.

                                              • maximo zeledon One year ago

                                                Jesus! These people baffled me with their Mac versus PC bullshit. Talk about tattler syndrome. Yes, the Macs are pretty and idiot proof, but if you really new what you were talking about you would build your own machine with unix in it.
                                                I’ll quote Larry Ellison: “The PC is a ridulculous device.” Whether Mac or PC, I can’t wait for the day that I won’t have to use one. The only good thing coming out of APPLE Inc. is the hyped up stock price. Jesus in a black turtle neck should do something meaningful for humanity…cure cancer or something.

                                                Retina embedded nano screens? Bring them on!

                                                • Michael Chui One year ago

                                                  There is no such thing as a decent operating system. If you’re saying it, it just hasn’t broken yet.

                                                  Prosper looks awesome.

                                                  • Tim One year ago

                                                    Big time scam. The default rates are high, and people are complaining in there forums. They have one customer service rep, and refuse to let you speak to anyone above them. This guy is hyping them, what a pos, go to there site and take a look at their forums, you will see so many complaints.

                                                    • leporello One year ago

                                                      Prosper is not a scam, but it does attract all sorts of deadbeat borrowers.

                                                      About 8% of Prosper loans have either defaulted or are at least 3 months late — FIVE MILLION dollars of Prosper loans. That’s how much Prosper lenders have lost on their deadbeat borrowers.

                                                      Don’t believe any of the puffed-up stats that Chris Larsen spouts.

                                                      • vsd2000 One year ago

                                                        It’s a joke to make serious money at Prosper. It’s only for entertaining. Don’t believe me? Then read what all the lenders have to say at its forum
                                                        http://forums.prosper.com/index.php?s=f423fe4c6e11f0d30ef9061671b37100&showforum=3

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