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Facing Tougher Times, Prosper Marketplace Is Making Deep Staff Cuts

PYMNTS

Prosper also spent $40 million to acquire medical loan provider American Healthcare Lending LLC and personal finance startup Billguard Inc. Changing market conditions (and some higher-than-expected default rates) have changed the math and softened investor interest some. And though Prosper was valued at $1.9 billion to $6.1

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Transcript: Steven Klinsky

Barry Ritholtz

But as a private equity owner, again, first of all, you do invest heavily of your own money in the transactions, plus you have additional ownership through, you know, the carried interest, the profits interests. You got 60 percent of losses ahead of you. RITHOLTZ: So this is in pouring money into startups like venture does.

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Why It’s Time To Shut Down Cryptocurrencies

PYMNTS

The ability to use an anonymous single currency to power a decentralized, permissionless distributed ledger operating over the public internet where miners compete to solve the math problems that enable the processing of transactions is a remarkable innovation. They buy tokens at a discount and resell them for big profits almost immediately.

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Transcript: Liz Hoffman

Barry Ritholtz

Ends up turning about $27 million of swap premiums into 2 billion plus in profit. I mean, you’re talking about, I don’t, I could do the math, it’s like a 10,000% return in like three weeks. We’re more startup than established entity, so not everybody has that ability. And that’s sort of the math.