Caladia's Blog

I posted this in the .org forums, as a response to a new member, and it helped crystallized my thinking, so I thought I'd put it here too:

I think you found Prosper at the right time. The issues that
made things so difficult for earlier lenders (mostly, a lack of
information) are being addressed. New lenders have a better chance of
doing well on Prosper than those who started two years ago. Plus, you
get to start with a clean slate; Prosper has learned from previous
missteps in customer service and dealing with lenders, and will (we
hope) be more careful in its treatment of the newer generation of
customers.

For myself, I still think Prosper is a platform that is more useful to borrowers than to lenders, and I still worry that Prosper will go out of business without warning, but I have more confidence in it now than I did a year ago, and I can certainly understand the enthusiasm of those who have just recently discovered it. I wish the newbies much success in their Prosper adventures.