I hear all sorts of business ideas at the monthly Entrepreneurship Meetup — some OK but need further development, some not so good, some downright ill-conceived. At the last month’s Meetup, I met the CTO of Prosper.com, an innovative financial startup that facilitates person-to-person lending — for example, a blogger in California lending $500 to a cafe owner in Maine — via a system that CEO and E-Loan co-founder Chris Larsen hopes to become "the eBay of loans."
Prosper seemed to be in the "OK but needs further development" category of startups until I heard more about it. My first thought was, "How safe is this thing? Could I just be throwing money away to strangers asking for a ‘loan’?" Other Meetup attendees voiced similar concerns. "Are these loans in any way guaranteed?" asked the hotshot from OngoBongo (which, tangentially, may have bigger problems with the advent of Lala — or maybe not: see the update below).
Posted March 7, 2006 by Mariva in business, community, finance, innovations, news, resources
