Peer-to-Peer Lending Is Alive & Stronger Than Ever

 

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From www.huffingtonpost.com -


A short while ago, I pronounced P2P lending dead. Annihilated. Massacred by Wall Street bankers. Choked by a Black Rock. Then, I heard from Dara Albright, co-founder of LendIt, the largest peer-to-peer lending conference in the world. She said she had found a pulse. I didn't believe her. I put my forefinger on the inside of P2P's wrist and didn't feel a thing. "P2P's dead, Dara," I said. "I'm sorry for your loss."

"P2P is alive," she insisted. She took my hand and thrust it into P2P's neck. She pressed my fingers down, hard. P2P's skin was cold and clammy. Then, I sensed it myself. It was faint, almost imperceptible. But, I felt a pulsation. It was there: P2P is alive!


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Editor’s Notes:

  • First of all, let me say that I thought Jorge Newbery's first article claiming that P2P lending was "dead" was nothing more than click-bait. It was a controversial title and article designed to garner attention. I wish I'd thought of it first, just kidding. I have a feeling Jorge knew he was writing something he didn't even truly believe and he probably had this retraction article planned out from the beginning. But that's only speculation on my part.
  • He does highlight something that I pointed out a while ago, the banks are becoming the main investors in these peer-to-peer loans and it's becoming harder for the everyday investor to compete for good loans without the help of automation like Lending Robot.
  • If he truly did believe that P2P lending would fail or had failed, it's good to see that Jorge was humble enough to admit he was wrong, majorly wrong, peer-to-peer lending is just a baby right now. It has a long and healthy life ahead of it.

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