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Author Topic: Why no Jwitchel bid on Islandmele's Loan?  (Read 13043 times)

112233

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #15 on: April 06, 2008, 11:35:08 am »

every single decision made by any Prosper employee has to be challenged? 
Yes. Every single decision has to be examined. A large number of lenders have lost faith in Prosper's management, and many of the reasons behind this have nothing to do with being startup.
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Urbi_et_Orbi

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #16 on: April 06, 2008, 11:45:12 am »

I think people are reading too much into Prosper exec non-bidding on this loan.  Personally, I really like Islandmele and consider her excellent risk, but she's not having a problem getting funded at a price below what I am willing to accept.  The biggest risk regarding this loan, IMO, is regarding whether or not Prosper can survive for another 3 years.  I think Prosper peeps' overall bidding activity is a better indicator of their confidence in the platform.
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msava

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #17 on: April 06, 2008, 12:56:47 pm »

The biggest risk regarding this loan, IMO, is regarding whether or not Prosper can survive for another 3 years.  I think Prosper peeps' overall bidding activity is a better indicator of their confidence in the platform.
This is my biggest fear also. Third party collections have proved to be useless.
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Caladia

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #18 on: April 06, 2008, 01:31:09 pm »

I don't think it's fair to expect him to bid on it.  The guy is (presumably) busy, she'll fund at a superlow rate with or without him, and he's lent  a reasonable amount of money through the platform.  (one would like to see him lend more, as a vote of confidence, but it's his money...)

Yeah, I was kind of on the fence about whether to post the question at all, but I thought it'd be interesting to get others' impressions.  It's not that I *expect* him to bid, exactly, and it's actually nothing at all to do with the money side of things. 

It's just that, originally, Prosper was built around the group/social idea, and Islandmele's group is pretty much the only one that lived up to that original ideal.  Now, it's one of the last little sprigs growing from the root of that original idea, and so I still look at Islandmele and her group through more of a "social" lens than the rest of Prosper. 

Islandmele does a lot for Prosper-- she's brought a lot of good borrowers to Prosper, she put together the Hawaii M&G, she's attended and been a focal point at both PD07 and PD08, and she's been a staunch supporter even when others soured on Prosper, while still maintaining good relationships with people on both sides of the fence.  Financially, of course Jwitchel could find a loan that paid higher interest, and Island doesn't need a bid from him to fund at a low rate.  But socially, just as a token gesture to say, "Hey, thanks for being such a good friend and supporter for us," it would be nice of him to toss in a bid. 

Of course, everybody has their own reasons for bidding and not bidding.  I get the impression Jwitchel was never as enamored of the whole "social" thing as Anton was anyway, in which case talking about him putting in a bid for purely social reasons would be nonsensical.  Or he doesn't want to taint the friendship he has with Marilyn by introducing a financial aspect to it.  Or, as Shenandoah pointed out, maybe by the time he saw the listing it was already so low he felt like a bid from him, social or not, would be superfluous.  Again, it's not that I *expected* a bid from him; just that, from a social perspective, it would have been a thoughtful gesture.
« Last Edit: April 06, 2008, 02:01:48 pm by Caladia »
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Mtnchick

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #19 on: April 07, 2008, 11:22:35 am »

I keep hoping I'm going to see a massive influx of PMI bidders before the end (can't remember if IM bid on Andrew's loan or not).

IMO, this is like Sam Walton not buying products at Walmart. This is their bread and butter and goodness knows IM is one of handful, or less, of people who actually created what P------r wanted as far as a community.

Do they HAVE to bid? Of course not. For those who are still bidding would it make them more comfortable as to the continuing of the business platform if they did? Of course.
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Caladia

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #20 on: April 07, 2008, 11:44:08 am »

wow, debtconquerer on it for $1,500

and DonGiovanni on it for 20 bids of $256.37 (except one for $128.97 - must have been a typo)

http://www.prosper.com/lend/listing.aspx?listingID=301325

After being bid off for $5K.  Joined last month, from DC, no bids until now.  I wonder if DonG hops?

Ooh, good catch.  I seem to remember Leporello being a fan of opera. 


I keep hoping I'm going to see a massive influx of PMI bidders before the end (can't remember if IM bid on Andrew's loan or not).

IMO, this is like Sam Walton not buying products at Walmart. This is their bread and butter and goodness knows IM is one of handful, or less, of people who actually created what P------r wanted as far as a community.

Do they HAVE to bid? Of course not. For those who are still bidding would it make them more comfortable as to the continuing of the business platform if they did? Of course.

Thanks, Mtnchick, you said it better than I would've been able to.  As a person who is still involved in Prosper, and is bidding on Islandmele's loan, of course I'm interested in the actions of Prosper's cofounder regarding Islandmele, who is such a prominent stakeholder in his organization and such a visible presence in the community.

« Last Edit: April 07, 2008, 11:48:34 am by Caladia »
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Loan_shark_74

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #21 on: April 07, 2008, 11:52:27 am »

Here is a question for you. If prosper executives bid on this listing now, would it be because they truly want to show their support, or because they read this thread?   :-\
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Mtnchick

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #22 on: April 07, 2008, 11:54:12 am »

Here is a question for you. If prosper executives bid on this listing now, would it be because they truly want to show their support, or because they read this thread?   :-\

Probably the latter, since they've had 5 days to put in a bid ;)
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Caladia

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #23 on: April 07, 2008, 11:58:07 am »

Here is a question for you. If prosper executives bid on this listing now, would it be because they truly want to show their support, or because they read this thread?   :-\

Actually, one of the reasons I posted the thread was in case Jwitchel wasn't aware of Islandmele's loan.  Borrowers aren't allowed to send messages to individuals telling them about loan listings, so if it didn't fit his usual search criteria, he might not have seen it.  I thought there might be a chance that he might browse the Lobby here, since it's public and he can read it without having to even sign in, and if he saw his name, he might read the thread, and think, "Oh!  Islandmele has a loan listing up-- maybe I should go look at that."  :)
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Loan_shark_74

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #24 on: April 07, 2008, 11:58:37 am »

Here is a question for you. If prosper executives bid on this listing now, would it be because they truly want to show their support, or because they read this thread?   :-\

Probably the latter, since they've had 5 days to put in a bid ;)
That is my thought process also.
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Mtnchick

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #25 on: April 07, 2008, 12:04:06 pm »

Actually, one of the reasons I posted the thread was in case Jwitchel wasn't aware of Islandmele's loan.  Borrowers aren't allowed to send messages to individuals telling them about loan listings, so if it didn't fit his usual search criteria, he might not have seen it.  I thought there might be a chance that he might browse the Lobby here, since it's public and he can read it without having to even sign in, and if he saw his name, he might read the thread, and think, "Oh!  Islandmele has a loan listing up-- maybe I should go look at that."  :)


Then you'd have to assume that Witchel and Larsen haven't spoken to each other for the last 5 days. Something like "Do you realize our biggest cheerleader, decent group leader and decent sized lender has a loan we should be bidding on?" ;)

In fact, if you really look into the situation, the principles a P------r aren't the biggest lenders. That alone frightens me a bit. I bet Gulp even has a Drobo or two ;)
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warhola

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #26 on: April 07, 2008, 12:10:00 pm »

nvm  ::)
« Last Edit: April 07, 2008, 12:20:35 pm by warhola »
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BigGulp

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #27 on: April 07, 2008, 12:40:01 pm »

Didn't the powerpoint slides on Red Gorilla say somewhere to stop using your own money, use others when possible?

...Gulp
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Staneslav

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #28 on: April 07, 2008, 12:47:04 pm »

a
« Last Edit: December 07, 2017, 12:09:53 pm by Staneslav »
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Mtnchick

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Re: Why no Jwitchel bid on Islandmele's Loan?
« Reply #29 on: April 07, 2008, 05:57:41 pm »

$50 (woohoo!) I guess he read the thread ;)
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