Yeah the whole BNPL space is very strange from my perspective -- it's basically just small dollar loans for borrowers you don't underwrite, without collateral (

Yeah the whole BNPL space is very strange from my perspective -- it's basically just small dollar loans for borrowers you don't underwrite, without collateral (you can't repossess my socks) in exchange for super high merchant interchange. I was confident they'd all get ruined in the first real recession as that would be the first debt to go unpaid. 2021 wasn't a real recession I guess, since it lasted all of 5 minutes. It's just re-inventing credit cards, but with significant structural disadvantages leading to higher costs.