Am i the only one here that keeps using the word - Exponential
If IOU's bnpl user base grows by an exponential percentage - its sp should follow suit too - even on the potential of huge growth we should see a re-rate.
Bnpl all over the world are priced based on their growth rate + revenue multples.
Afterpay's case is the classic one we all know about.
$1 Club, page-8437
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