LendIt USA 2017 is now history. It was a great event, I think it was our best ever, it was certainly the largest with over 5,000 people in attendance. As I do every year here is my wrap-up of the event and some of my thoughts on what was shared.
For the fifth year in a row the CEO of Lending Club kicked off the conference with the opening keynote. The big difference was that this year it was Scott Sanborn delivering this presentation for the first time. He didn’t sugar coat the challenges Lending Club has faced in the past year but he is also didn’t dwell on them.
He compared the online lending industry with that of online retailing. He said that today parallels the time in the early 2000’s when online retailing was going through some early challenges. Back then we were going through the dot-com crash and many laughed at the idea that tiny Amazon could ever be a threat to the most successful retailers. Fast forward to today and Amazon was the first company to generate $100 billion in online sales and its online operations dwarfs that of Walmart. [Read more…]