Thinking about applying to Lending Club...But read this article from April saying that everyone is moving to Utah? Is this really true? Are things in SF pretty bad right now? What will happen to people there? Utah honestly seems pretty random... https://www.bloomberg.com/news/articles/2019-05-01/lendingclub-to-slash-san-francisco-office-move-350-jobs-to-utah
Customer service is moving to Utah. It’s not random at all. It’s a cheaper place to have a call center.
Actually Ops and a few other departments are moving to Utah. They are trying to get a bank charter and Utah is an easy place to achieve that while cutting cost.
Growing our engineering team and product team in Utah
It is a big ponzi business model...if new cash from investors stop then the whole business will collapse. Same goes with borrowers. If new borrowers won’t come then it will crash and burn. Imagine what happens when recession hits. Bernie Madoff was a great financial wizard until 2008 happened.
Duh, that's how marketplaces work.
Idiot. Ponzi doesn’t mean what you think it means.
LC will run until it’s IPO cash reserves are gone.
Someone didn’t listen to the earnings call.
My Experience is very good here.
Join LC to ruin your career and life.
Can you share more about why things are tough at Lending Club? What's the product/eng work culture like in SF?
Recently joined LC against all warnings and regretting my decision now.
What do you regret?
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Only operations are moving there
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