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iLIE
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« on: May 05, 2008, 06:43:24 pm » |
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http://prosperhollowoak.blogspot.com/2008/05/flip-side-of-social-capital.htmlIt also seemed that lenders were ready to believe in whatever assertions Zcommodore made. A total of 12 loans were funded in that group, comprising a staggering $87,453 in loans, of which Zcommodore himself loaned $500 (0.6%) on only 9 of the loans in his group.
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Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.
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Xenon481
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« Reply #1 on: May 05, 2008, 06:45:13 pm » |
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I was already fairly convinced that he WAS Bamalucky.  |
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Staneslav
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« Reply #2 on: May 05, 2008, 06:55:07 pm » |
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I don't think HO is being snarking at ZCommodore, I think he's just pointing out that someone who had a decent amount of trust was unable to differentiate between good and bad credit risks at the lower grades and that random chance would have done better.
I think he was just using ZComm as an example.
Unless there's a backstory I'm unaware of...
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I apologize for nothing and I'm sorry for less.
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Urbi_et_Orbi
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« Reply #3 on: May 05, 2008, 07:05:02 pm » |
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Borrowers who were unable to fund on their own joined groups. As a result (and broadly speaking), the RML forum and group-vetted loans became a delivery mechanism for adverse selection loans.
It's both sad and amusing, but not necessarily unexpected, to note that "vetted" group loans in many cases would perform worse than the overall pool. Thse loans were also often sold at a "discount" to compensate the GL for his/her services.
For a while, my SO would only hit loans NOT belonging to a group - better rates and possibly less risk.
(I should know - I used to bid on Maryentom loans)
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Tokyo Joe
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« Reply #4 on: May 05, 2008, 07:05:30 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both...
While I in no way defend the results of zcommodore's group, I'll say that $500 that he lent was out of $1850 on total loans; 27% of all the cash he loaned.
I don't know what the median is for cash loaned to groups as a percentage of all cash loaned; but 27% sounds fairly reasonable...
I suspect, but am much too lazy at this point to try to find out myself, that group loans in which the group leader bid a higher percent of his or her total cash may be better performers. It stand to reason.
A long time ago, when I was still into Prosper and was picking islandmele's brain for ideas on how to run a group, she mentioned that half of her money was in her own group. So 50% might be a good benchmark of commitment.
But 27% isn't too shabby. zcommodore certainly wasn't out to screw anyone. His mistakes were the same mistakes most people were making; trusting flakes on the internet.
As for HO, it comes across as an assessment (which is kind of a Hollow Oak forte, assessing things...) It doesn't come across as especially "nasty"; just his analysis and assessment, in his own usual voice. I don't agree with the implication that zcommodore didn't put enough of his money into his own group. However, I don't think HO is being unduly mean in drawing his own conclusions... I guess it's up to zcommodore how or if he wants to respond to HO...
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iLIE
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« Reply #5 on: May 05, 2008, 07:07:38 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both... To paraphrase Islandmele "It's time to build the brand" |
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Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.
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Tokyo Joe
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« Reply #6 on: May 05, 2008, 07:36:55 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both... To paraphrase Islandmele "It's time to build the brand" I always told her she needed a publicist; she always had a tendency to say too much... The "brand" thing is funny, because that was kind of the pie-in-the-sky motivation a lot of GL's had... to establish a "brand"... In my heart of hearts I always giggled at the notion; Propser is the brand; anything within it isn't a "brand" just a coterie (at very best; few were even that)... And as we know now, "branding" does not have an impact on ROI... For the record, I always tried to talk her down from that "brand" kind of thinking; her forte was the personal touch. But at this point, groups are about as relevant as pogs. http://en.wikipedia.org/wiki/Pogs |
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Mtnchick
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« Reply #7 on: May 05, 2008, 07:40:38 pm » |
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OMG, I forgot all about Pogs. I made quite a decent amount of money when they first came out. I can't even remember where, but I bought a TON of them wholesale. My son was the age who was playing them so I had instant (free) advertising. I swear I still have a stack of them somewhere in storage if I didn't give them to the charity store during the last sweep. /hijack |
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Classic comment from Urbi to a poster who said they were leaving:
"Once again, we note that your threats are hollow and you come across like a sad, lonely blowhard.
I doubt anyone here gives a shit about you. We pretty much all know that you are a vile and unethical parasite of a human being with an abnormal craving for attention."
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iLIE
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« Reply #8 on: May 05, 2008, 07:45:20 pm » |
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I used to try to bring Biggulp down out of the clouds when he was building his brand & saying he would make 6 figures out of his group.
I told him then that PMI would never let anyone make a bunch of money off of them.
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Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.
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msava
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« Reply #9 on: May 05, 2008, 07:53:37 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both... To paraphrase Islandmele "It's time to build the brand" I always told her she needed a publicist; she always had a tendency to say too much... The "brand" thing is funny, because that was kind of the pie-in-the-sky motivation a lot of GL's had... to establish a "brand"... In my heart of hearts I always giggled at the notion; Propser is the brand; anything within it isn't a "brand" just a coterie (at very best; few were even that)... And as we know now, "branding" does not have an impact on ROI... For the record, I always tried to talk her down from that "brand" kind of thinking; her forte was the personal touch. But at this point, groups are about as relevant as pogs. http://en.wikipedia.org/wiki/PogsInteresting TJ thought it necessary to wiki us on Pogs and just assumed everyone knew "coterie". Be honest, didn't anyone else have to look it up? Darn, I guess you guys are right, I am as dumb as they come. |
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iLIE
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« Reply #10 on: May 05, 2008, 07:59:39 pm » |
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Kudos to Msava for getting outside the quote box.May this be the first of a long line of readable posts.
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Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.
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msava
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« Reply #11 on: May 05, 2008, 08:09:00 pm » |
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Thanks Chamatrain for telling me how to fix the problem. MNH should be computer science.
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Tokyo Joe
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« Reply #12 on: May 05, 2008, 08:28:34 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both... To paraphrase Islandmele "It's time to build the brand" I always told her she needed a publicist; she always had a tendency to say too much... The "brand" thing is funny, because that was kind of the pie-in-the-sky motivation a lot of GL's had... to establish a "brand"... In my heart of hearts I always giggled at the notion; Propser is the brand; anything within it isn't a "brand" just a coterie (at very best; few were even that)... And as we know now, "branding" does not have an impact on ROI... For the record, I always tried to talk her down from that "brand" kind of thinking; her forte was the personal touch. But at this point, groups are about as relevant as pogs. http://en.wikipedia.org/wiki/PogsInteresting TJ thought it necessary to wiki us on Pogs and just assumed everyone knew "coterie". Be honest, didn't anyone else have to look it up? Darn, I guess you guys are right, I am as dumb as they come. Sorry, Ms. Ava... Here ya go: http://en.wiktionary.org/wiki/coterieI had no idea what pogs were when they were popular; I was in Japan at the time, and a grownup. I didn't see any pogs there... I first learned of them on that episode of The Simpsons where Milhouse traded Bart's soul for some Alf pogs... |
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pioneer11
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« Reply #13 on: May 05, 2008, 08:40:40 pm » |
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Back on topic, Z brought us some of the shittiest listing ever offered up by even the shadiest of group leaders. Heart in the right place, head up the wrong place.
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msava
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« Reply #14 on: May 05, 2008, 08:43:27 pm » |
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I'm not sure who bama wants to whack here, HO, zcommodore, or both... To paraphrase Islandmele "It's time to build the brand" I always told her she needed a publicist; she always had a tendency to say too much... The "brand" thing is funny, because that was kind of the pie-in-the-sky motivation a lot of GL's had... to establish a "brand"... In my heart of hearts I always giggled at the notion; Propser is the brand; anything within it isn't a "brand" just a coterie (at very best; few were even that)... And as we know now, "branding" does not have an impact on ROI... For the record, I always tried to talk her down from that "brand" kind of thinking; her forte was the personal touch. But at this point, groups are about as relevant as pogs. http://en.wikipedia.org/wiki/PogsInteresting TJ thought it necessary to wiki us on Pogs and just assumed everyone knew "coterie". Be honest, didn't anyone else have to look it up? Darn, I guess you guys are right, I am as dumb as they come. Sorry, Ms. Ava... Here ya go: http://en.wiktionary.org/wiki/coterieI had no idea what pogs were when they were popular; I was in Japan at the time, and a grownup. I didn't see any pogs there... I first learned of them on that episode of The Simpsons where Milhouse traded Bart's soul for some Alf pogs... Thanks, but I have been scolded enough, had already looked it up. |
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