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[112233]

I believe I'm under NDA when it comes to discussing my compensation.

lol .. NDA is enough information for me

NDA compensations are boring.  They never include hookers or blow.  Hold out for the combo man!

It turns out that my wife is against me going with hookers

at least you asked

[xraider]

Lazyman, now that I see your stats, please tell us what Prosper gives you for blogging for it.  Cash?  Options?

I believe I'm under NDA when it comes to discussing my compensation.

lol .. NDA is enough information for me

+ 1,000,000

[bamalucky]

He didn't mention and still hasn't addressed that the fact that I've learned and changed my lending over time.  That's the kind of thing that I was talking about by immediately looking for the negative. 

5 of your last 25 loans are late.You didn't lend at rates over 20%.I'm not seeing you learned much.

Although it's better than your 1st 25 loans where 16 are late or default.

Give your latest 25 a little time to age like the 1st 25

[bamalucky]

Would you still be bullish on Prosper if you weren't getting compensation of some sort?

[mothandrust]

A better idea so as not to run afoul of the TOS would be an "I'm Saving All My Endorsement Cash For You!" where you promise to endorse and bid $965.34 on the listing of whoever makes the largest deposit to your PayPal account in the next 30 days.

Prosper has a precedent of tolerating contests where the winner receives a large bid from a lender; the issue was never even raised that anyone was doing anything in exchange for my bid.

This contest would inspire ID thieves to send you a $500 or so in the hope that you'd bid $965.34, other lenders would jump in, and they'd hit a $25K jackpot.  And you'd collect a few $50 and $75 entries along the way. 

One you understand your target audience--the desperate and the criminals, you can adjust the prize accordingly.  There's no need for a draconian 50% markup--the scammers who would be sending you the cash are ID thieves who have the credit record of a good, solid AA, A, or B guy and they just want to get the thing funded for $20-$25K--they don't care if you are actually in on the final loan or not.

More importantly, you don't need to bid at 1%--a bid at 35% is fine, and probably even preferred by the scammer who wins. 

True, he doesn't care if he's ripping you off for $965 or a combination of other lenders for $965, but if you're left with your prizemoney you can run another contest.  He might run the same scam next month and win and get another $25K Id-Theft listing funded.

[lazymanandmoney]

He didn't mention and still hasn't addressed that the fact that I've learned and changed my lending over time.  That's the kind of thing that I was talking about by immediately looking for the negative. 

5 of your last 25 loans are late.You didn't lend at rates over 20%.I'm not seeing you learned much.

Although it's better than your 1st 25 loans where 16 are late or default.

Give your latest 25 a little time to age like the 1st 25

Well 5 of 25 is 20%... that does seem better than the 40% number you said.  Twice as good actually.  So yes, I think that shows that I've learned something.

My last 25 should be pretty well aged considering that I haven't made many in the last 6 or 8 months.

[lazymanandmoney]

Would you still be bullish on Prosper if you weren't getting compensation of some sort?

Define bullish.  Where have I been bullish on Prosper lately?

I was writing bullish things about Prosper before I was getting any compensation.  You can go back to my posts that pre-date any referral program or me writing for them.

It's been almost a year since I wrote how I was Stopping Prosper Contributions - http://www.lazymanandmoney.com/stopping-my-prosper-contributions/.  Was that bullish?

Note that some of these questions, bamalucky (ethics one, this one, etc.) are off the topics of the thread.  I really don't have time or care to be interrogated after the group has shown that it likes to pick my words apart.  Please understand if I stop answering these questions.

[onthefence]

It turns out that my wife is against me going with hookers ;-).

That's the nice part about hookers.  You don't have to date them.  You just rent them for a short while.  Maybe your wife would feel more comfortable if you invited her to come along.

[christoofar215]

In fairness, I think Prosper says that endorsements without bids are essentially worthless.
I think someday they'll get rid of the ones without bids.

I think they should keep the endorsements without bids.
It helps us to identify the smarmy people who try to game the system with a flood of no bid, unverified endorsements.

Yeah, but Prosper won't let you filter these out of their SOs, because they would have to... gasp... code shit so that you could block those listings.

[Staneslav]

a

[NewHorizon]

It's been almost a year since I wrote how I was Stopping Prosper Contributions - http://www.lazymanandmoney.com/stopping-my-prosper-contributions/.  Was that bullish?

...which was due to non-Prosper considerations. From the above link:

I’d like to invest more in Prosper. It’s still new and exciting to me. However, sometimes you have to go with the boring mainstays such as investing in a retirement plan and playing down debt.

[Mtnchick]

NDA, lol.

So I was right, they hired him

[Urbi_et_Orbi]

NDA, lol.

So I was right, they hired him

Prosper used to have hundreds of enthusiastic people doing marketing, PR and blogging on their half - for free.

Now, they have to hire people like RatLadder and SleazyMan to spew their canned crap - and put them under NDA.

Sad.

[lazymanandmoney]

It's been almost a year since I wrote how I was Stopping Prosper Contributions - http://www.lazymanandmoney.com/stopping-my-prosper-contributions/.  Was that bullish?

...which was due to non-Prosper considerations. From the above link:

I’d like to invest more in Prosper. It’s still new and exciting to me. However, sometimes you have to go with the boring mainstays such as investing in a retirement plan and playing down debt.

I've always said that P2P lending should be no more than 5-10% of your portfolio.  It's my belief in asset allocation.

Bottom line is this:

We've seen this kind of behavior before and we know where it has led in the past. I think lazy man wrote a clever post to cover his ass if/when things went bad.

If he's not suspended by the end of the week, I'll assume prosper is giving this kind of behavior a nod of approval.

Before the Wright brothers figured out how to fly, millions had seen that kind of behavior before and we knew where it has led in the past... in a pile of rubble on the ground.  Maybe when you over-generalize things, you miss the actual details that make this time different.

By this "kind of behavior" you mean writing about Prosper's flaws?  If that's a "suspendable" action, I'd be curious to learn why.

NDA, lol.

So I was right, they hired him

I think that was in the subject of the forum and well covered territory by now.

Prosper used to have hundreds of enthusiastic people doing marketing, PR and blogging on their half - for free.

Now, they have to hire people like RatLadder and SleazyMan to spew their canned crap - and put them under NDA.

Sad.

For what it's worth every company I've ever worked for (more than 5 now) have put me under NDA when it comes to discussing compensation.  If you are going to bust on Prosper, but on all the of the other companies in America.  At least don't make it look like Prosper is different here.

I have not see "hundreds of enthusiastic people doing marketing, PR and blogging on their half - for free" on Prosper.com.  That's a big difference.  I haven't seen the person who is going to take direction from the Prosper CMO to build the corporate blog for free.

[ira01]

I've always said that P2P lending should be no more than 5-10% of your portfolio.  It's my belief in asset allocation.

That's like saying "roulette should be no more than 5-10% of your portfolio."