I sold out early last year. While I disagree that all BNPL will go to zero, Klarna is looking bigger and bigger, I'm disappointed how zip is operating their gameplan. Too many raises to expand in markets that are too small.
i agree that due to the small margins, you need a lot more consumers and market share to be profitable(more so than credit cards). With the lack of moat and the previous ease in which credit was obtained, BNPL was becoming cannabilistic.
I would've much preferred they concentrated their expenditure on the largest market(US). Thankfully, I exited much better than I should've, due to luck and a little bit of consideration.
#BnplGoingToZero, page-392
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