Chart - Z1P, page-6170

BNPL will not dissapear overnight but will slowly wither and die.

However the ridiculous valuations will collapse a lot quicker as the market is forward looking.

BNPL players will get squeezed from both ends as the cost of basic living expenses, rent, mortgage, heat, A/C Fuel , and Food and Medical all rise reducing the consumer disposable idiscretionary income.

Rising deposit rates and fear of job losses will make savings more appealing and Merchants squeezed by rising costs and falling sales will demand better terms from BNPL providers.

BNPL margins will suffer with rising funding costs and they are not able to pass this on to consumer as lose competitive advantage over credit cards.

Basicalky the entire industry is a "dead man walking " you just don't realise it yet .

Full disclosure I'm Short Zip and Long APT but the latter is only a temporary hedge as I leverage increasing short position in Zip