Ann: Quarterly Update, page-191

For someone who really looked at the numbers, I think you're missing a few points. I've been tracking website traffics for Zip and Quad over the past few months, and to me, Zip AU is hitting a plateau. I don't expect numbers to be explosive anymore in Australia, but the market is huge in USA, way bigger than Australia. That's where the market is.

I would've given up my positions in Zip had they not purchased Quadpay because they would fall off if they do not focus on growth. Winner wins it all. Australia is just way too small. Quadpay will be the core business of Zip, generating most of their revenue in the next few years.

We are now in a market where growth is way more important than profit, because if we ran out of growth, the business is done. Afterpay takes it all. Bad debt ratio is growing, but I don't think it's concerning yet, if you're in for the longhold. I'm certain with a lower bad debt ratio, we won't be seeing those growth numbers. It's not easy to get new customers in this competitive markets, and focusing on more processes will turn away customers very easily.

I bought in a huge position at around $2, and had been sitting on profits ever since. My main concern is whether Quadpay can get market share quickly enough, and if Zip UK can successfully steal market share from Afterpay and Klarna.

It's unbelievable how ignorant people are in Hotcopper.