I think at issue here is a new venture like Prosper and an established venture. In a new venture, it is not possible to present the same, steady-state data as in a venture that is in steady state and has (in the Prosper case) loans in all stages of the process. Prosper's "pipeline" if you wish is still full of product of varying descriptions, quality and other variances that make steady-state comparisons and annualized rates less reliable than, for instance, bonds or other finnacial instruments.