I personally think we need to be careful on this forum to keep several items separate. LendingClub the stock investment, LendingClub the platform,and LendingClub notes. A lot of the newer people have trouble understanding how they are different and yet related. I agree with you about the LendingClub stock. But dead man walking may be a bit much, I think they probably could be profitable if they just stopped spending as much. Didn't they say in an email couple years ago they could function just based off of the servicing income if they gutted the place? At any rate, I think LC is similar to a mortgage broker - and that's not necessarily a very attractive business to invest in.