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Klarna lays off 10% of its workforce
- missedthecue 4y agoAre there any profitable players in this space yet? As far as I can tell, the business model seems like extending credit to people who are too risky for credit card companies. Sometimes, the hubris of fintech is so blatant it's almost comedic. Tech people thought that the wall street and the financial industry, the greediest of the greedy, were leaving billions on the table because the thought hadn't yet occurred to them to lend money to subprime borrowers for the purpose of consumption spending. I'll never forget one of my bosses who told me early on in my career, "Always be suspicious of fast growing lending companies".