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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
And so I left a OL for a startup in music. Now, you don’t mention in the book if you were incentivized with stock, but I assume you’re joining a startup. And they had a belief at the time of driving growth profitably whereby you could organically acquire customers. Was it a loss? Definitely.
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.
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.
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.
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