Lendit 2013 -Panel: Why Venture Capitalists Are Funding P2P & Online Lending

The Lendit 2013 Peer-to-Peer Online Lending Conference took place in New York City in June 2013, and was attended by the major International players in the P…

8 Responses to Lendit 2013 -Panel: Why Venture Capitalists Are Funding P2P & Online Lending

  1. James Wood says:

    As a middle class American, one of the things I really like about peer to
    peer lending is the democrazation of it. Sure some of us individuals have
    more dollars than others, but all dollars are equal. A pure, transparent,
    regulated, peer to peer system is the free market at its best.

  2. James Wood says:

    We see our bank accounts paying a fraction of a percent yet the rates of
    credit card debt remains inexplicably high. We see continued large
    donations to both political parties and laws that seem to rig the system
    against most of us. We experience a level of poor service and seemingly
    endless fees that can only occur in a near monopoly situation.

  3. James Wood says:

    Kudos for the venture capitalists for funding the further development of
    peer to peer platforms. I’m very glad to see the development of competition
    versus the near monopoly that traditional banks and credit card companies
    have enjoyed.

  4. James Wood says:

    I know it may be inevitable, but I’m very worried about Big Money getting
    in on the peer to peer game. I’m worried that large infusions of cash into
    the system will make finding loans much harder for the retail investor.
    Your panel and others from this conference already stress growing in a
    balanced way;

  5. James Wood says:

    A lot of us are unhappy with the big banks – we have seen mortgage back
    security fraud, robo signing, risky failed bets followed by tax payer
    funded bailouts. We see that the upper management continues to reward
    themselves with fat bonuses even as their companies are saved from
    bankruptcy with tax payer money.

  6. James Wood says:

    the current environment already seems to have more lenders than borrowers.
    I’m worried that Big Money will have statistics packages and staff to
    automate filtering, finding and purchasing loans in milliseconds – just as
    is already done by artificial intelligence in the stock market.

  7. James Wood says:

    These are tools that retail investors simply won’t have access to. I’m
    further worried that in time, BIG Money will pay lower fees per dollar
    invested. All of these barriers to entry would help restore the near
    monopoly position that Big Money has enjoyed for decades. All these
    barriers would restrict access to retail investors.

  8. James Wood says:

    True peer to peer loans offer a viable alternative.