Truth is that people like smoothing cash-flow but don’t like...

Truth is that people like smoothing cash-flow but don’t like debt- Afterpay is the most structurally sound model. This is as old as time- previously it used to be a tab that the business kept, or lay-away/lay-bye, then credit cards.

Afterpays real time credit monitoring is superior to credit checks- once you curate the customer base, it both is a self-fulfilling monopoly as well as safe to give the customer more options.

The total addressable market is very large- structurally it the whole market for personal unsecured credit.