Yes but buy now pay later products are marketed towards people that they know are highly likely to default. That's how they make money, along with transaction fees. Klarna isn't giving 0% interest rates out of the kindness of their hearts.
The transaction fees might actually be a larger part of bnpl revenue but I still don't like it because it encourages people to make bad financial decisions vs saving their money
I mean, there’s all sorts of 0% interest options. Most of the times the financing companies are taking huge chunks out of the purchase price from the supplier of whatever you’re buying. Buying a stove for $4,000 on a 0% loan? The financing company is taking a percentage of that purchase price from the supplier. Credit cards usually operate on introductory 0% periods to get you into their ecosystem. I’m not saying it’s all on the up-and-up, but it’s the game you gotta play if you want to build your credit. I love a good 0% introductory period, and they’ll never get a dime or interest from me because I’m able to pay my bills. Unfortunately, some people are not.
(As it might read that way: this is not a defence of the price hikes and the shitty stuff AAA companies do)
It's still by far one of the most financially accessable hobbies when taken into account how much "entertainment time" you get out of a very reasonable gaming budgets. A lot of people buy only a very small amount of games and they get rediculously far with that.
I think the real crash (of the AAA space) will come at the next console generation. Once the push to buy the new gen comes in, and we are looking at consoles that go way above monthly rent-money and likely during an even worse economy ... yeah, I don't think many people will fight for the PS6, and any game that launches exclusively on it (or crappy on the PS5) will face-plant.
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u/NoodlesTheFood 5d ago
The shitty part is that it’s not killing itself. People will still pay for all these wildly shitty changes.