RIP BNPL

I hate the trolls on HC .....but I’m afraid BNPL is the one thing that brings out that little bit of troll in me.

It took them a while .....but the regulators are finally catching up with this BS sector that is BNPL.

A debt trap for the poor and financially illiterate and all it does at the end of the day is add an unnecessary layer of costs to everything it touches. The world would be a better place without BNPL - no doubt.

It’s been a great ride for shareholders though - well at least for those that timed their entry and exit. But sadly there’s going to be some heavy losses going forward.

Of course Afterpay was eventually going to be swamped by competition - how many BNPL providers are there now ? .....thousands .....it’s a complete joke.

A Pandemic within the Pandemic.

But at least Afterpay was early days and was a great place to be for a while ..... a bit like Byron Bay......a bit of a hidden secret for years and years but then when the secret gets out and everyone gets in on the party it’s never the same.

Get out of Byron Bay while you can.