LendingClub

Pay is kind of ok if you look away from the declining stock price.

Located in downtown SF.

Management is bad. I mean REALLY BAD. Third tier talent that got the job because the first and second tier declined the offers.

Culture is toxic. You are being managed by fear.

Stuck with a super outdated platform. Zero aspiration to innovate.

The banking types that came in to ruin this once hot company are mostly focused on profit extraction. Mostly focus is on cost cutting and outsourcing.

Horrendous drain of talent - feels like an exodus. Every day some really talented engineers and product people are leaving.

Fire the CTO (Bahman Koohestani) and whoever hired him. He is the single biggest reason engineers are leaving every day. What a drone. What company chooses to put someone so uninspiring and disinterested to lead such a large organization? For a while we all scratched our heads over this hoping the CEO would hear our feedback, but alas. Enough is enough. He knows only how to lead by fear and intimidation and created the most utterly destructive and fearful atmosphere! Good at cost cutting, incapable of inspiring you to do great work.

The president (Steve Alocca) got kicked out of PayPal and now is hoping for a second act at LendingClub. The guy pretends to care about Americans who struggle financially but in reality only cares about his personal agenda to replace the CEO one day. That's all that matters to him.

The strategy of the company to become a bank and help Americans who struggle under loads of debt is neither novel, nor differentiated from the same strategy that Goldman Sachs, SoFI, Varo, Chime, and a number of others are pursuing. Pretend that you are invested in the success of your customers, while you lend them more and more money. Scam!!