Ann: ZIP CEMENTS ITSELF AS A TRUE GLOBAL BNPL LEADER, page-487

I don't disagree with a lot you say, the data has a value but the question is in respect of BNPL players how much value

There are a limited number of millennials and the vast majority of BNPL users are of limited financial means.

Consider thst most BNPL users will have two or three accounts and the value of the data becomes diluted.

While the customer numbers are impreSssive at first glance remember the criteria is to have transacted once in the previous 12 months.

The Pareto principle dictates that only 20 per cent of those customers will generate worthwhile data

So maybe in three years 20 million customers of which 4 million are of any value

The question is what is that data worth and the alarming rate at which Zip keep issuing shares what market cap does it support