Interview with Zopa founder, peer-to-peer lending

[*T*]

Some crap at the beginning, but gets interesting re. his vision of the future.

Regulatory issues in the US, but doing well in the UK/Europe.

http://uk.intruders.tv/James-Alexand...ding_a123.html

Anyone able to embed this?

Anyone have any judgement of how ethical this is?

[labasta]

Re: Interview with Zopa founder, peer-to-peer lending

Interesting.

Would you lend or borrow online like that?

[*T*]

Re: Interview with Zopa founder, peer-to-peer lending

Interesting.

Would you lend or borrow online like that?

Yeah, the online part is fine with me, and I like seeing who is borrowing.

My problem is ethical, 'Neither a borrower or a lender be', but on the other hand I would be VERY happy to eliminate the banking sector. And I suppose any cash savings are lent on anyway without my involvement. So maybe this is better.

I think the internet is a revolutionary and empowering thing.

t

[labasta]

Re: Interview with Zopa founder, peer-to-peer lending

Me too.

I was thinking it more as an alternative to bank deposits.

Ethically I'd probably prefer something similar to a cash safe deposit, even though I lose out on inflation.

[don]

Re: Interview with Zopa founder, peer-to-peer lending

Yeah, the online part is fine with me, and I like seeing who is borrowing.

My problem is ethical, 'Neither a borrower or a lender be', but on the other hand I would be VERY happy to eliminate the banking sector. And I suppose any cash savings are lent on anyway without my involvement. So maybe this is better.

I think the internet is a revolutionary and empowering thing.

t

When the internet began to take off there were two major dilemmas in 'Washington'.

How to control the internet's inherent threat of real democracy and

how do we turn it into television.

It's 2009. What's the score?.

[Spartacus]

Re: Interview with Zopa founder, peer-to-peer lending

I doubt it's "washington" as in the elected reps themselves or their staff

My wager would be it was the lobbyists and the corporations hunkered down in Washington asking themselves how they could get the gov to neuter the internet, or make it into a profit centre under corporate control.

When the internet began to take off there were two major dilemmas in 'Washington'.

How to control the internet's inherent threat of real democracy and

how do we turn it into television.

It's 2009. What's the score?.

score
"free " scores high, but only because lots of internet users pursue their own agenda and refuse to turn the internet connection into a TV pipe.

"tv jail" scores high, only to the extent that some internet users DO want to do that with their connection

[ax]

Re: Interview with Zopa founder, peer-to-peer lending

Some crap at the beginning, but gets interesting re. his vision of the future.

Regulatory issues in the US, but doing well in the UK/Europe.

http://uk.intruders.tv/James-Alexand...ding_a123.html

Anyone able to embed this?

Anyone have any judgement of how ethical this is?

Thought this idea sounded familiar. There is a similar U.S. site.

http://www.prosper.com/groups/

Scares the crap out of me.

[we_are_toast]

Re: Interview with Zopa founder, peer-to-peer lending

I did peer to peer lending with prosper a couple of years ago.

It took me a couple of months to realize how bad it was going to be. About 15% of the loans I made are in or close to default. And I was doing much better than most people. Many borrowers who couldn't get a loan anywhere else, and some outright fraud. I think only about 20% were making any money.

[mikedev10]

Re: Interview with Zopa founder, peer-to-peer lending

prosper accounting seems to hide the fact of how poorly your loans are doing. as we are facing record defaults among all types of people i was scared to keep funding loans. my performance:

http://www.lendingstats.com/lenders/mikedev10

[hoodoo]

Re: Interview with Zopa founder, peer-to-peer lending

I also tested the waters with Prosper. I only bid on AA loans and my ROI is running about 4.2%. Fortunately, I've only got a few active loans left and will close my account when they pay off or default.

Agreed that Prosper loans are defaulting a rates *MUCH* higher than expected. I've heard that the Lending Club is funding an astonishingly lower percentage of loans than Prosper ever did and that it's portfolio is performing much, much better.

I still think the idea of P2P lending has its merits.

Hoo

I did peer to peer lending with prosper a couple of years ago.

It took me a couple of months to realize how bad it was going to be. About 15% of the loans I made are in or close to default. And I was doing much better than most people. Many borrowers who couldn't get a loan anywhere else, and some outright fraud. I think only about 20% were making any money.