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Post by Admin on Aug 20, 2019 15:07:52 GMT
For reasons that are as yet unclear Loanpad have insisted that the link to a pdf in the OP be removed asap, as the longer it remains visible the more damage is being done.
If more clarity on what is "damaging" about a pdf on 3rd party site to which we have no connection is forthcoming, I'll update this post.
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Post by Admin on Aug 20, 2019 17:07:26 GMT
Loanpad have further requested the removal of the thread in its entirity, but have declined to explain what is damaging about a pdf written by Loanpad and currently available to download from a 3rd party website via links on google and bing.
As far as can be seen from a quick scan through, the pdf does not identify any borrower or asset, so did not appear to contravene the forum rules.
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Post by Badly Drawn Stickman on Aug 20, 2019 17:28:39 GMT
Loanpad have further requested the removal of the thread in its entirity, but have declined to explain what is damaging about a pdf written by Loanpad and currently available to download from a 3rd party website via links on google and bing. As far as can be seen from a quick scan through, the pdf does not identify any borrower or asset, so did not appear to contravene the forum rules. I guess that raises the question, why? Given the main purpose of the forum is the sharing of researched information and discussion on platforms and loans, should a platform choose what in the public domain is acceptable to them?
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Post by Loanpad on Aug 20, 2019 17:38:04 GMT
Loanpad have further requested the removal of the thread in its entirity, but have declined to explain what is damaging about a pdf written by Loanpad and currently available to download from a 3rd party website via links on google and bing. As far as can be seen from a quick scan through, the pdf does not identify any borrower or asset, so did not appear to contravene the forum rules. The link was to a pitch deck prepared for private equity investors over one year ago (pre-launch) and contains commercially sensitive plans and forecasts related to the business. It was clearly marked private and confidential so we are surprised that it was ever published here by a moderator, or how they stumbled across it now all of a sudden. For the record, we opted not to proceed down that route in any event and raised funds from existing investors instead.
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withnell
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Post by withnell on Aug 21, 2019 6:34:12 GMT
Loanpad have further requested the removal of the thread in its entirity, but have declined to explain what is damaging about a pdf written by Loanpad and currently available to download from a 3rd party website via links on google and bing. As far as can be seen from a quick scan through, the pdf does not identify any borrower or asset, so did not appear to contravene the forum rules. The link was to a pitch deck prepared for private equity investors over one year ago (pre-launch) and contains commercially sensitive plans and forecasts related to the business. It was clearly marked private and confidential so we are surprised that it was ever published here by a moderator, or how they stumbled across it now all of a sudden. For the record, we opted not to proceed down that route in any event and raised funds from existing investors instead. I've worked in the Financial industry so understand your concerns, however surely your focus should be on removing the pitch deck that is still available for public download rather than the forum that links to it? I put a couple of easy search terms into google and it came up as the 2nd result so it's hardly buried deep down on a server
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Greenwood2
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Post by Greenwood2 on Aug 21, 2019 6:45:31 GMT
I hadn't bothered to look at the original link, but now intrigued I looked for it (as above using obvious google search terms) and it came up first on my search, so hardly private and confidential.
Loanpad's (over)reaction worries me slightly though.
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registerme
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Post by registerme on Aug 21, 2019 8:41:41 GMT
Loanpad have further requested the removal of the thread in its entirity, but have declined to explain what is damaging about a pdf written by Loanpad and currently available to download from a 3rd party website via links on google and bing. As far as can be seen from a quick scan through, the pdf does not identify any borrower or asset, so did not appear to contravene the forum rules. The link was to a pitch deck prepared for private equity investors over one year ago (pre-launch) and contains commercially sensitive plans and forecasts related to the business. It was clearly marked private and confidential so we are surprised that it was ever published here by a moderator, or how they stumbled across it now all of a sudden. For the record, we opted not to proceed down that route in any event and raised funds from existing investors instead. to my eyes this kind of heavy handed approach reflects poorly on you as a company.
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Post by Loanpad on Aug 21, 2019 9:27:49 GMT
We merely requested (as we have of the website in question too and which we are told is in hand) that confidential information that would give sensitive commercial information on a plate to our competitors be removed. We’re not quite sure why that is seen as heavy-handed or an over-reaction, but everyone is entitled to their own opinion.
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Post by bracknellboy on Aug 21, 2019 9:32:25 GMT
The link was to a pitch deck prepared for private equity investors over one year ago (pre-launch) and contains commercially sensitive plans and forecasts related to the business. It was clearly marked private and confidential so we are surprised that it was ever published here by a moderator, or how they stumbled across it now all of a sudden. For the record, we opted not to proceed down that route in any event and raised funds from existing investors instead. to my eyes this kind of heavy handed approach reflects poorly on you as a company. Well yes and no. It might depend a bit on quite how it was done. However, I can fully understand Admin removing the link in response to a request to do so. The pdf contains a statement that:
...the recipient agrees that this Loanpad Deck shall be held by it and its recipients in strict confidence and the recipient agrees not
to use or disclose the information contained in this Loanpad Deck or any other information made available except as expressly permitted in writing by Loanpad
Limited (“the Company”). This Loanpad Deck shall be returned to the Company immediately on demand.
[As this is a fairly standard statement in these circumstances, I don't feel there is any risk or harm in reproducing a small snippet here.]
Posting of a link to it is in effect assisting in its disclosure and distribution. For those reasons I can sort of also understand LP wanting to have it removed as a point of principle (if not this confidentially marked information, then what about the next bit?).
Still, it would have been much better if they got the thing removed from its current searchable location and then simply reported that it had been removed.
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keystone
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Post by keystone on Aug 21, 2019 10:46:41 GMT
Still, it would have been much better if they got the thing removed from its current searchable location and then simply reported that it had been removed.
Yes, the sensible thing to do.
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Post by gravitykillz on Aug 21, 2019 13:37:19 GMT
The fact that loanpad made such a big deal about this made me search and read the document as well. Not sure what was worse loanpads reaction or the valuation after 3 years of operation.
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Post by mrclondon on Aug 22, 2019 12:46:51 GMT
[mod hat off] Whilst some of this will resonate with the rest of the forum team, these comments are my personal views. The disillusionment caused by the lack of respect that the very small moderation team get from certain forum members that disagree with moderation decisions is profound. This was of course the root cause of the split in the forum community c. 18 months ago, when we banned quite a number of forum members that continually challenged the moderation decisions .... and the subsequent creation of their own forum. The forum receives around 5000 new posts a month, and yet is moderated by an incredibly small team of volunteers. Stating the obvious, the forum receives zero income. In my view the forum can only continue to exist if moderation decisions are accepted, and not challenged on, and on and on. This week has seen repeated challenges to the team from the Loanpad rep to both the moderation of this thread, and the separate removal of the thread on their affiliate links promotion. The later was removed as such threads generate an excessive burden on the moderation team given how the forum rules are framed to disallow the use of the forum for personal gain. The choice is simple, either disagreements on moderation policy are raised and then allowed to rest, or the forum team has to take some action to cope. Loanpad aren't the first platform to disagree with moderation decisions, but most do understand the continuing existence of the forum is a fine balance, and that on the whole they derive benefit from it. Whilst the policy of "encouraging" those forum members that disagree with this forum's moderation to seek out alternative forums has allowed the forum to continue post the May 2018 shutdown, it is of course regrettable that such action was ever necessary as it has fractured the discussion and prevented some knowledgeable people from posting here. But where do we go when a platform feels it is acceptable to repeatedly challenge the way this Independent forum is moderated ? I've felt the various PM's from loanpad during this week have been heavy handed, and not at all sensitive to the fact the forum is staffed by volunteers. Yes, the link to the pdf did need redacting (for the reason bracknellboy outlined above) but there the matter should have rested. Similarly my explanation as to why the affiliate links thread was removed should have been sufficient, with out further challenges. Surely we don't want to reach a point where a platform is banned from being discussed on this forum ? Disclosure: I have c. £16,500 in LP which I'm seriously considering withdrawing, simply due to the tone of the PM's I've received this week. |
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Post by bracknellboy on Aug 22, 2019 13:50:05 GMT
Attempted bullying of forum moderators or indeed forum members by a platform is never a good look....
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keystone
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Post by keystone on Aug 22, 2019 14:20:58 GMT
Surely we don't want to reach a point where a platform is banned from being discussed on this forum ? If they can't behave couldn't you just kick out the loanpad rep out until they grow up rather than ban the platform from being discussed?
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rocky1
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Post by rocky1 on Aug 22, 2019 15:19:25 GMT
LP dont get to big for your boots there are plenty of other platforms out there. mods try to keep a happy medium and volunteer. i am sure you lot of fintech experts draw big salaries trying to keep the show on the road.you need lenders /investors not the other way round.
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