Prosper.com Paradise Lost; Deadbeats Won
Prosper-watcher Fred93 recently published a notable item on his blog, titled “Prosper.com Paradise Lost; Deadbeats Won.” While Fred93’s summary of a meeting in Los Angeles between Prosper co-founder Chris Larsen and a number of lenders and borrowers may seem oddly trivial to those not intimately familiar with Prosper, Fred93 uses this meeting as a backdrop to highlight important nuances related to the Prosper experience.
Set against this backdrop, Fred93 proceeds to dissect the lackluster efforts of Prosper’s Vice President of Operations, Doug Fuller, including his infamous “Big Hat, No Cattle” memo and the dismal failure of Prosper’s secret “legal test strategy.”
Few people are as intimately familiar with Prosper.com as Fred93. His blog is a must-read and, if you decide to only read ONE blog post about Prosper Marketplace, then this should be the one you read.
Fred93’s shocking blog entry can be found here.
Then, join the discussion taking place at Prospers.org.