Almost 2 months without an update from Prosper. Tapping into the viral powers of social networking to grow the platform, indeed.
The funny thing is the original lenders really
were a social network. An unusually good one, for awhile. Prosper didn't have to lift a finger. Had it not been for the 3-30-07 incident, and had Prosper taken their community's input seriously, there could have been an entirely different story to Prosper. I bet there'd be a lot more originations, and even a lower default rate if the forum lenders had been permitted to continue as they had been. Sure, it got messy, but for awhile the teamwork and sense of being part of something with a lot of potential was pretty heady, and most companies wish they'd get that kind of interest.
Something like 90% of all Facebooks stop updating after a couple of months. Not surprised Prosper got bored with it. No community.