How a Wall Street titan issued a storm warning for BNPL

Zip boss Larry Diamond was put on notice about the expansionary mindset that had driven the export of buy now, pay later from Australia to the rest of the world.

For more than an hour, Diamond told Morgan Stanley’s James Gorman about how Zip, the start-up he co-founded in the eastern suburbs of Sydney, had ridden the global buy now, pay later wave. Diamond had ambitions to expand Zip’s presence all around the world.

But Gorman’s message from his tower office was not one of ambition, but caution. The dark clouds were gathering. He saw early signs that inflation – absent from the developed world for a decade – was returning with a vengeance.

Full article about Larry and how much he cares about the share price

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Larry ignored him in 2021 and went on his ROW dreamer tour anyway buying up any old crap