On Monday of this week LendIt Fintech Digital members were able to watch the godfather of fintech, Ron Suber, opine on the current state of fintech; while formerly the president of Prosper Ron has invested in the equity of 21 different fintech companies, he advises eight companies and is on the board of another two, so he has his finger on the pulse of what is really happening today; he said in fintech we have many first time CEOs who have never been through a crisis before and they are struggling; some lending platforms run by more experienced executives have been better prepared; he has personally written down the value of his equity investments by 50%; he said there are opportunities on the debt side today, particularly in real estate, where returns can get into the high teens or even 20%; he also said that lending platforms need to get much smaller and cut more costs than they are today and monoline platforms are going to struggle. LendIt Fintech Digital
