Agree "this coming from a VC" but at scale it makes more sense to have something like a community rating system (or algorithm) rather than having to make individual decisions face to face. Doesn't mean mistakes can't be made (by either the loan officer or the community or that it can't be gamed but it definitely provides a benefit)

Marc isn't investment in a large number (relatively) of entrepreneurs. He can afford to take the time to incorporate "across the table" into his decision making process.

(If I've misunderstood your point please let me know..)