Buy-Now-Pay-Later loans for music festivals that celebrate degeneracy and nihilism. This is, yet another, blaring alarm bell attempting to warn you of the ills of Late Stage Fiat.
https://www.tftc.io/finance-your-break-from-the-hamster-wheel-with-buy-now-pay-later/
Programming or progress 🤔
Many years ago when I first saw the "pay for a pizza in 12 monthly installments" bullshit I thought it would never catch on. It's more popular than ever 🤡
As a late Millennial I don’t understand BNPL. But I wonder if Zoomers use it as a credit card. So saying BNPL is worse might be a Boomer take.
I’m old enough to remember when Sears and K-Mart offered layaway plans.
yea, here is some relativity of people chastising others using a credit card for food
coachella first began offering payment installments in 2009
music festivals have large costs for services that last just days. it’s in their interest to generate revenue/understand demand ahead of time to help them get better awareness of scaling costs. it’s a tough business model and most festivals don’t last years
this is not an alarm
Just saw burning man is offering a payment plan this year.
“Don't miss the Tomorrow Sale, offering Black Rock City tickets at all price points. New for this sale — there is a payment plan option that lets you pay for your ticket in three installments over three months, interest free.”
Oh, is even worse. Pet food and product vendors taking finance for their products. Just 4 payments for your dog food.
Save in #btc now pay in #btc later!
If a 23 year old needs to wait a paycheck to buy festival tickets, but that might be too late, should they not be allowed to buy on credit?
All these BNPL lenders are turning the ABS markets (which have been hot in recent years) for cheaper funding to keep these shenanigans going. Essentially flipping the loans off to bank lenders and investors.
If debt becomes cheaper in a inflationary environment, why not use debt to purchase things?
