Ann: Quarterly Report for quarterly period ended June 30, 2022, page-430

It's really as simple as working in the industry - I know the added regulation coming for BNPL and fintechs in general. Government responses to new technologies are slow, which people confuse with no response. BNPL exploited a loophole, and avoided the cumbersome checks, which made their products readily available. Take away that - and you really are just flogging a credit card. In relation to Block more generally, and their payment technologies, it's the same thing. Their AML schedules are atrocious. So, in summary, I know the headwinds - and these growth stocks don't take headwinds into account. They are priced to perfection.