Klarna (a once darling Fin-Tech startup company) is now demonstrating spiraling losses as they attempt to create a micro loan financing business that essentially enables irresponsible spending with zero accountability.
Debt purchasing for major and impactful items (such as cars, or houses) can be justified in myriad ways, but debt purchasing of chipotle burritos and apple airpods, cannot. If a business constructs its entire premise around lending to people who should not be spending in the first place, I don't think anyone should be shocked when that business loses large amounts of money.
The Doomed Economics of Klarna, should be visible a mile away.
Buy Now, Pay Later, should be more accurately referred to as "Buy Now, Pay Never"