Ann: Becoming a substantial holder, page-26

You're right, Affirm, Klarna and Afterpay lose truckloads of money and ZIP loses more than enough to keep itself in the top tier too. I agree that interest rates will have little impact on ZIPs business model - if they stay up, ZIPs costs of borrowing stay up because the economy is roaring, so ZIPs income expands with retail activity. If interest rates go down, it will mean that the economy is tanking and there is minimal chance of ZIPs borrowing costs going down anyway, particularly as it continues to struggle. I would not want to be sitting around here every day waiting for ZIP to start making enough profit to create a return on investment, when you can get some serious coin out of some short, sharp and siginifcant wins.