Subject: Re: Welcome to Shrewdom's Upstart Holdings Board
I get that the credit markets seized up in a way they hadn't predicted. Their mistake, but entirely understandable and forgivable. Book the loss, make adjustments so it doesn't repeat, then carry on. But instead, they changed their business model entirely -- and for the worse. Previously they had been small and limber. They sold loan models/information. Overnight they went from limber to lumbering, something more akin to a bank than an AI tech company with a great edge.

I understand your point of view, but I don't see their funding some loans to keep flow moving as changing the company so drastically as you say, so long as it doesn't come anywhere remotely close to putting their liquidity in danger, which it seems so far it has not.

Their goal is to get back to more of a pure market maker/facilitator role in the future. Zero intention of becoming a bank, according to their public comments.