*Unlocked* – 144. Buy Now, Pay Later, Screw You

We're unlocking the latest episode from the premium feed on the political economy of Buy Now, Pay Later companies. What are they, where did they come from, how do they work, why are they booming, and who is winning and losing? We focus our analysis on the big three BNPLs – Klarna, Afterpay, Affirm – each one a super decacorn company that has benefited immensely from debt fuelled spending during the pandemic. Some stuff we reference: ••• Would You Take Out a Loan for a Pair of Jeans? | Susie Cagle racked.com/2017/11/29/16710502/affirm-loan-shopping ••• Buying a new purse? This startup wants to help you pay for it — but could also get you into debt. | Susie Cagle vox.com/platform/amp/the-goods/2019/1/14/18178772/afterpay-stores-installment-urban-outfitters ••• BNPLs: Businesses Needing Provided Legibility | Patrick McKenzie bam.kalzumeus.com/archive/buy-now-pay-later/ ••• I Bought a Burrito From Chipotle in Four Easy Payments | Ryan Felton consumerreports.org/shopping-retail/the-downsides-of-expanding-buy-now-pay-later-plans-a2840564542/ ••• The Risks of Buy Now, Pay Later Programs | Penelope Wang consumerreports.org/shopping-retail/risks-of-buy-now-pay-later-programs-a1000664957/ ••• Predatory Inclusion and Education Debt: Rethinking the Racial Wealth Gap | Louise Seamster, Raphaël Charron-Chénier journals.sagepub.com/doi/10.1177/2329496516686620 Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Grab fresh new TMK gear: bonfire.com/store/this-machine-kills-podcast/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)