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Burrito Now, Pay Later

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Re: Burrito Now, Pay Later

#141

Post by apothegm »

mbStavola wrote: post #92
coolcase wrote: post #2

He brushes over ethical concerns of BNPL but draws the line at sports betting. But BNPL by design encourages you to buy things you can't afford and complicates your finances with more timed bills to pay. It makes it more likely people don't budget well and form buffers. A PNBL would be better, add 10% tithe to every purchase that goes to a checking account. Once that reaches $1k it overflows to an index fund. He says…

From the consumer pov, why would I opt for a PNBL option? If I have the money on hand, wouldn't I just make a regular purchase? Not trying to be snarky, genuinely curious what the sales pitch is here.

The sales pitch is for people who don’t have the money on hand. But hope they will later when their next paycheck comes in.

Re: Burrito Now, Pay Later

#142

Post by snvzz »

deadbolt wrote: post #130
snvzz wrote: post #116

Earlier quoted context omitted.

>I hope they fuck up the implementation and end up losing money to hackers. That is quite ungrateful to money lenders. They could, like, not lend money to begin with.

Please, won't somebody think of the money lenders?

[flagged]

Re: Burrito Now, Pay Later

#143

Post by shermantanktop »

ChadNauseam wrote: post #123
spicyusername wrote: post #100

One reason is that someone’s or a company’s income doesn’t always align perfectly with when they want to buy things. When we're talking about financing the construction of a new downtown office tower, a new apartment complex, or the unexpected maintenance of your business's whole auto fleet, I can absolutely see the argument that credit is a mechanism of greasing the wheels of the economy and allowing things to happe…

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

“Fear of sounding patronizing” sounds like a cocktail party problem. If that’s stopping someone - being made fun of by another member of their elite class - that’s a recipe for failure.

Re: Burrito Now, Pay Later

#144

Post by shermantanktop »

calmbonsai wrote: post #131
sweeter wrote: post #110

Earlier quoted context omitted.

I think that is about the most gentle way you can put it. This is an echo of 2008 and the notion that this is normal is so absurd to me. It comes off as super out of touch. Financing groceries is dystopian.

I agree. Just because you can price, trade, and provide liquidity for "a thing" doesn't mean "that thing" can, or should, be financialized.

But but but “complete market”!

The deployment of Econ-degree lingo doesn’t help the case.

Re: Burrito Now, Pay Later

#145

Post by bagels »

guywithahat wrote: post #134

I feel like the comments are misunderstanding what's happening. Historically luxury food has been nice ingredients but now that's everywhere, and what consumers really want is delivered food. They want the thing they want, only made 6 miles away, hand delivered to them and still warm. This is a luxury good, and like many luxury goods may now be financed. Cheap food is not going away; my lunch every day costs ~55 cent…

What are you eating for 55 cents per meal?

Re: Burrito Now, Pay Later

#146

Post by fennecbutt »

spicyusername wrote: post #100

One reason is that someone’s or a company’s income doesn’t always align perfectly with when they want to buy things. When we're talking about financing the construction of a new downtown office tower, a new apartment complex, or the unexpected maintenance of your business's whole auto fleet, I can absolutely see the argument that credit is a mechanism of greasing the wheels of the economy and allowing things to happe…

You're right, and anybody that tries to convince us otherwise is the enemy, or a friend of the enemy.

Now our world is all about maximum profit extraction. Interest.

How about no more public education, you get a loan for it. What, that's what your taxes pay for? Well, it's not enough, too bad. The masters say that you can't possibly pay enough tax to give your child an education. But they'll give you a loan for it, with interest.

Coming very soon to a reality near you. And I thought we were done with being peasants.

Re: Burrito Now, Pay Later

#147

Post by wronglebowski »

ChadNauseam wrote: post #123
spicyusername wrote: post #100

One reason is that someone’s or a company’s income doesn’t always align perfectly with when they want to buy things. When we're talking about financing the construction of a new downtown office tower, a new apartment complex, or the unexpected maintenance of your business's whole auto fleet, I can absolutely see the argument that credit is a mechanism of greasing the wheels of the economy and allowing things to happe…

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

I agree entirely with this sentiment. It almost feels like it's our ages "Keeping up with the Joneses". Even if 30-50% of your social circle can afford it without incurring debt if it becomes the social norm we'll all keep doing it. It's unfortunate but I don't know how this generation learns this lesson.

Re: Burrito Now, Pay Later

#148

Post by fennecbutt »

rtpg wrote: post #103
simplify wrote: post #95

Earlier quoted context omitted.

To take it even further, why does being in the minority matter at all? Curious what your motivation is for mentioning that aspect.

If you think that objectively spending money on leisure is bad, my claim is that you are in a minority with that thought process. My implication here is not that being in a minority changes whether something is objectively true or not (it doesn't!). But I will outright say that I do not believe this, and I think that most people do not believe this. Claiming to believe that leisure is bad objectively is, in my opinio…

>If you think that objectively spending money on leisure is bad, my claim is that you are in a minority with that thought process.

Strawman. The topic at hand isn't about spending money on leisure but taking out a loan to pay for a fucking burrito.

Re: Burrito Now, Pay Later

#149

Post by nkrisc »

ChadNauseam wrote: post #123
spicyusername wrote: post #100

One reason is that someone’s or a company’s income doesn’t always align perfectly with when they want to buy things. When we're talking about financing the construction of a new downtown office tower, a new apartment complex, or the unexpected maintenance of your business's whole auto fleet, I can absolutely see the argument that credit is a mechanism of greasing the wheels of the economy and allowing things to happe…

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

There are many, many stupid people who would benefit from being protected from themselves. How far down that path we want to walk as a society is an eternal debate.
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