21–30 of 137 posts
Earlier quoted context omitted.
You can apply your logic to basically any entity in history to belittle them. Everything can be positioned as a "massive case of blah " if that is your goal.
"Tesla is just growing off of government subsidies!" etc.
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
You can apply your logic to basically any entity in history to belittle them. Everything can be positioned as a "massive case of blah " if that is your goal.
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
People have dreamt about on-demand car hailing for a long time, but it's always been a pipe dream - building the two-sided network is such too hard and too expensive, and a small network is just not worth using as a consumer. How is this not innovation?
The latest disclosures Tuesday, uncovered by a company probe, found that in the last few weeks of December 2009, Laplanche and three relatives took out 32 loans for a total of $722,800. All but three of those loans were repaid in full over the next two months, implying they were taken out to artificially goose Lending Club’s loan origination numbers. If true, would that be considered fraud?
Really, yes obviously that's fraud but apparently it's perfectly normal as long as you don't get caught.
Artificially inflating the numbers whilst shopping for investments is definitely not acceptable. Pumping money around is an old trick to inflate the visible size of a company, some of these schemes are surprisingly hard to detect (the one here definitely isn't).
I'm somewhat surprised that there was no oversight in place that would have stopped this, that's serious money.
The latest disclosures Tuesday, uncovered by a company probe, found that in the last few weeks of December 2009, Laplanche and three relatives took out 32 loans for a total of $722,800. All but three of those loans were repaid in full over the next two months, implying they were taken out to artificially goose Lending Club’s loan origination numbers. If true, would that be considered fraud?
I feel like almost every startup that "made it" used dark-hat growth hacking tactics to pad their numbers. But the other companies were typically in the consumer internet space. I would expect some additional rules to exist for a highly regulated market like Finance.
In just world this would result in a prison sentence, banishment from stock exchanges, and revocation of their corporate charter. The fact that there is no capital punishment for companies, especially public ones, provides a moral hazard.
That's the second time today I see this, is this some kind of meme?
Earlier quoted context omitted.
People have dreamt about on-demand car hailing for a long time, but it's always been a pipe dream - building the two-sided network is such too hard and too expensive, and a small network is just not worth using as a consumer. How is this not innovation?
I have been able to pick up a phone and call the cab company for decades.
Other than investing in their stock, there's an argument to be made that it might actually be a relatively safe time to invest in their loans.
(I have zero affiliation with Lending Club, just like the returns.)
Earlier quoted context omitted.
People have dreamt about on-demand car hailing for a long time, but it's always been a pipe dream - building the two-sided network is such too hard and too expensive, and a small network is just not worth using as a consumer. How is this not innovation?
on demand car hailing = taxis?
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
You can apply your logic to basically any entity in history to belittle them. Everything can be positioned as a "massive case of blah " if that is your goal.