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Not me, but the last time I talked to the CTO of my last company, he was making ~$120k/year passively via LendingClub with ~$1M invested (which he acquired via
by pauljaworski 10y ago
Not me, but the last time I talked to the CTO of my last company, he was making ~$120k/year passively via LendingClub with ~$1M invested (which he acquired via our exit).
- chillydawg 10y agoThere was a UK equivalent of that but it got pretty rubbish. The rates dropped very low as too many people with cash were chasing too many borrowers. It got to the point that, even with a 10% loan portfolio, you might not make money as the borrowers were so bad.
- rufius 10y agoHas he reevaluated his investment at all with them since some of their sketchy business? I've been trying to decide with the chunk of money I have invested there.
- pauljaworski 10y agoI don't know the full details of how they inflated the creditworthiness of their lendees, but I do know that he wrote his own software to determine that and offer loans based on his own criteria. I'm not sure if he was actually affected by what they did.