Pros
Prosper and its mission to offer a consumer friendly financing alternative to credit cards, while allowing retail investors (people just like you and me) to benefit from the market place lending is a fantastic goal! Prosper has extremely smart people handling the risk and underwriting, with very talented product leaders. They will be successful in this space if they make some changes in the executive office, specifically the CBO.
Cons
Leadership is very slow to make changes. They hired for 300% growth and now need to adjust the staffing, but it has now been 6 weeks and nothing has happened but rumors. We all know that people are going to be let go, but there is absolutely no leadership and people are coming into work and doing nothing. This is horrible for he morale of the business. There is a serious lack of leadership with the CBO who leads though intimidation rather than leadership. All the decisions that he makes are emotionally based and if he does not come up with the idea, or you do not help him see that it is his idea, his immediate response is NO! He yells and uses profanity with his staff in staff meetings, with staff leaving his office in tears. His leadership is so bad that the two CEO's of the acquired companies have left because they challenged the CBO, and the CBO did not like it and let them go... He is cancer to the organization and needs to be removed.