And PayPal credit has already been overtaken by the AfterPay...

And PayPal credit has already been overtaken by the AfterPay brand on google trends

It’s not necessarily true that driving down loan loss rate will equate to better long term EBITDA, as to do that you would have to reject more customers. I like Afterpay’s strategy/ proposition, whereby they go out and approve most people for small amounts then as they learn they remove people from their system. That’s how we’ve been able to capture the under-served millenial market so easily.