Daily Price Movement / General Discussion, page-35948

Respectfully thats not what I am saying.

BNPL appeals to Millennials Gen X due to their distrust of banks and credit cards.

All BNPL companies produce glossy slides morphing more of TAM but that TAM is a fallicy as BNPL offers zero advantage to existing credit card holding generations.

The initial BNPL business model cannot possibly generate profits with the razor thin margins and high bad debt ratios so BNPL companies are slowly morphing into credit card companies.

The reason your are seeing massive increase in marketing, cash back and referral offers is that the customers who are dropping off the system when realising it does not offer any great advantages, are becoming increasingly hard to replace and the customer acquisition cost is outstripping the lifetime value of the customer.

That has always been the case hence continuing losses but once they exhaust the Millennial generation the CAC/LVC becomes increasingly prohibitive.

Afterpay had no alternative than to accept Square overvalued paper for their own overvalued paper as they could not make a profit on their own.

The Zip management have a dream to become a SuperApp which is admirable but that is many years away and billions of dollars worth of further dilution.....or maybe their just dreamers.