The only thing I disagree with this thead is the assumption that OnDeck, Kabbage and the like are technology companies. Talk to the PE world and everyone will tell you at the end of the day they are in the specialty finance space. Cash flow, Ebitda, and profitability drives valuations and exit. CAN is not only the 800lb gorilla but reportedly highly profitable. CAN will monetize their business. OnDeck and others ultimately need to show a profit. There is no way that the value of their data competes with the value of the data that a CapitalOne or Visa or Experian or D&B has on small business with millions of small businesses in their dataset and years and years of history.