Let me get this straight. UpStart, an AI lending platform, has opened another agreement with CastleLake LP, an "alternative investment firm" in a Forward-Flow agreement (whatever that is). What am I missing here? Upstart has no real revenues to speak of apart from this and CastleLake is essentially a private equity lender to whomever they want. So, we are going from banking to private equity to who knows what - essentially a buisiness development company with no interest payments? Is this just a con-job?
Somebody please bring me back to reality. Is this really the UpStart model? What am I missing? I see that one of my favorite follows on SubStack is pushing the narrative that institutional buyers are buying UpStart here, but can't get over the stink I meet when I stick my hand down that toilet.