Hi y'all,

We've had some periodic discussion of Upstart on the old Berk board, and now Manlobbi has been kind enough to open a board specific to that company. If you have interest in this former high-flyer, come join me for a chat there: http://www.digitalscores.com/MB?pid=940248782

For any unfamiliar with UPST, it's now a small-cap: $1 billion market cap, but in the not very distant past that number was a LOT bigger. They are applying AI to the business of qualifying people for loans, serving as a matchmaker between lender and borrower, taking a small slice of the pie. They grew at a phenomenal rate in recent years, and actually made a nice GAAP profit. However with the inflation/interest rate spike and tightening lending environment, their business dried up and they're losing money at present, even while continuing to grow the bones of the business expanding beyond their core business of personal loan qualification into auto, small business, and small dollar lending.

Founded by Google alums, I still believe in the business' future even though I'm sitting on a big loss in my share's values.