This is what he said he will do about Prosper collections as far as I can tell:
- widen the time span of collection calls
- stop calling disconnected numbers
- call more often
- tell callers they're hurting "average joes"
- scare late borrowers with lawsuits
- find a different collection agency or bring the operation in-house if the above items aren't accomplished
Did I miss anything?
All that can be wrapped into "Use common sense". And like others (and I) have stated, nothing he's doing is anything at least 50 of us have been suggesting. Yes, I'll be glad if he follows through with OUR suggestions and gets more money but if I were one of the VC guys, I'd be pissed off my money was being spent on a salary when lenders have been giving the advice for free.
Next thing they'll do is hire someone at 6 figures to do "Deep Googling"
ETA - "...nothing he's doing is anything at least 50 of us HAVEN'T been suggesting"