Source: https://investors.affirm.com/

Tool: SankeyMATIC

tbh i’m glad companies like affirm are operating at a net loss, these type of businesses (buy now, pay later) are super predatory and often target low-income and financially illiterate individuals

And it turned out they were the low income financially illiterate individuals all along

I use them quite often and probably 75% of mine are interest-free, making four payments once every two weeks. The ones that are not the interest rates are in line with credit cards.

These lenders are a scourge. Luckily they seem to be on their way out.

That's a great anecdote but doesn't change the fact that they make hundreds of millions off predatory loans.

Except it shows it lost almost 600 million dollars off those loans. I'm guessing that people would be better off without whatever they used the money for.

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