In the immediate term, we'll probably see more headlines that drive clicks and sell papers. But ultimately, fundamentals — not headlines — will win. If you believe in efficient markets — even semi-efficient markets — that's what happens.
Over time, the platforms in finance — marketplace lending or otherwise — that serve the customer better than others, offer investors solid risk-adjusted returns transparently, and demonstrate strong unit economics will win.
Renaud might be leaving an industry he helped create, but he's not taking the fundamentals with him.
Commentary by David Klein, CEO and co-founder of CommonBond, a fintech lender that has focused on funding and refinancing student loans. Prior to CommonBond, Klein worked in consumer finance at American Express, as director of strategic planning and business development. He started his professional career as a consultant at McKinsey & Company, where he advised clients in the financial services industry. Klein graduated from Brandeis University with a BA in Politics, Economics and International Business, and attended the Wharton School at the University of Pennsylvania. Follow him on Twitter @DavidXKlein.
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