- SF Business Times - Prosper CEO sees company benefiting from credit crunch
- NetBanker - Prosper Helps Borrowers Tap the Value of Their "Social Capital"
- Lazy Man and Money - Prosper Days (Day 1 Overview)
- j9359 - Prosper Days 2008 is over now
- Prosper Marketplace Monitor - Prosper didn't catch fraudster using its services, but CEO takes credit for conviction
- Muychingon - Getting ready for Prosper Days
- Elaine Vigneault - Initial Thoughts - Prosper Days
- zcommodore - Things that make you go hmm
- bamalucky - Are you at Prosper Days? and The last Prosper Days?
- Prosper Forums - Live reporting from PD08 in IRC (login required)
- Rateladder - Bidding With the Prosper API Code Example QuickSnipe.java
- Prosperous Land - Vicarious Live-Blogging: Prosper Days
We expect Prosper to post videos and photos from Prosper Days 2008 in the near future. In the meantime, here's a look back to 2007:
RGlad, JaneyBooboo, Pensioner, L5
Posts
1 comment:
Prosper eliminated standing orders and replaced them with portfolio plans. What a big mistake! Seems that all the functionality is still there, but it's a lot harder to use. The worst feature is the slices. Much more difficult with little or no added value.
The only way that prosper is useful to me is to bid with standing orders. I worked meticulously to set the criteria for standing orders based on past performance. Over time I refined that so my lates, in collections, and defaults were greatly reduced. When I was reading all the stories and trying to determine who would reliably repay the loan, my results were an abysmal 25% loss. That means I had to make more than 25% on my good loans to make up the loss on the bad.
Think of this: if I get a 20% return on a $50 loan, my profit will be $10. If my time is worth $60/hour, that means I can only spend 10 minutes trying to find the right loan. That is not possible through a manual process. Thus, standing orders were the only chance to make this worthwhile and only if I could find a set of criteria that significantly reduced defaults but still provided an above average return.
So the standing orders with detail performance criteria were essential to my investment plans. Now the portfolio plan is confusing, awkward, and complicated - I will dread using it - I may not use it... and get out of this thing.
Prosper team - please return the ease of standing orders or at least make it easier - eliminate the slices or allow me to combine, and give me the detailed past performance data. Make this easy for me otherwise, it's not worth my time.
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