I have never understood why AfterPay has such a positive vibe surrounding them.
People love them, the media loves them, they're the absolute corporate darlings of Aus.
Yet their entire business model is built on people taking debt they can't afford and not being able to repay it fast enough.
They're literally bottom feeders.
From a business point of view however, AfterPay's Eisen and Molnar played this perfectly.
Cashed out at the absolute top of tops.
Legendary.
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Because most people don't care as long as they think they are getting what they want. They will complain later when they can't afford to pay the mortgage on their highly overvalued house that they didn't know and they were preyed upon.
Yes and good luck to them. The business model might be a cesspool, but their timing was impeccable