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8 Feb, 4 tweets, 2 min read
Inside the billion-dollar plan to kill credit cards: on.forbes.com/6011H59iz Image
Millennials were shunning plastic and supposedly wary of consumer debt. Affirm's Max Levchin saw a way to repackage buying now and paying later for younger folks—and it’s made him a billionaire
During the pandemic, consumers have been paying down their credit cards, with the total “revolving debt” outstanding falling 11% in 2020. Meanwhile, non-revolving consumer debt grew 4% Image
Now that Affirm has $1.2 billion of IPO cash in the bank, what’s next? It could just be a reimagined, Millennial-friendly credit card on.forbes.com/6012H59iM

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More from @Forbes

10 Feb
Average team values are up 4%, the smallest gain since 2010, but the NBA’s financial outlook is still bright with big market teams particularly attractive on.forbes.com/6019Hg3Eh Image
A dozen of the NBA’s 30 franchises are valued at $2 billion or more, with the six most valuable of them representing nearly two-thirds of the total franchise value gains over the past 12 months
The Chicago Bulls ranked No. 4 this year with a value of $3.3 billion Image
Read 7 tweets
9 Feb
Trump Impeachment Trial Live Coverage: Senators arrive at the Capitol as the trial is set to begin on.forbes.com/6011H5IYJ Image
Impeachment managers say Trump's First Amendment argument would grant presidents broad impunity
More than 1 in 5 Senate Republicans voted against a trial organizing resolution that was agreed to by Senate Democratic and GOP leadership, as well as Trump’s impeachment legal team Image
Read 8 tweets
4 Feb
Reddit traders have lost millions over GameStop. But many are refusing to quit on.forbes.com/6015Hew7V by @abebrown716
The prevailing attitude on the Reddit stock-trading forum, WallStreetBets, is rooted in something more philosophical
They see their continued investment as a perpetual indictment of Wall Street, driven by fury over brokerages such as Robinhood and Interactive Brokers limiting their ability to trade GameStop
Read 7 tweets
4 Feb
Elon Musk’s ex-chief engineer creates a new car—and says it beats Tesla on.forbes.com/6016HewEq
Lucid CEO Peter Rawlinson has many goals for the Lucid Air. One is that it be hailed as the world’s best electric car
The $169,000 Lucid Air is coming this spring and Rawlinson claims it’ll be the fastest, longest-range electric vehicle on the planet. He should know. A decade ago, he engineered Tesla’s Model S
Read 7 tweets
3 Feb
Meet Trove: the startup helping Patagonia and Levi’s cash in on the resale boom on.forbes.com/6019HeG3f
Second hand clothing is the hottest trend in apparel, and big brands are suddenly happy to make the profits—but avoid the headaches—by outsourcing the grimy work to tiny Trove
“It’s soup to nuts,” says Andy Ruben, the nine-year-old startup’s cofounder and CEO, whose operation helps companies capitalize on used goods that their customers would ordinarily pawn at vintage shops or dump into landfills
Read 8 tweets
2 Feb
Announcing this year's #Blockchain50 list: on.forbes.com/6013HdxRx Image
Our third annual #Blockchain50 features companies that lead in employing distributed ledger technology and have revenue or a valuation of at least $1 billion
Alibaba spin-off Ant has more than 50 blockchain applications in development on its own blockchain platform, AntChain #Blockchain50 Image
Read 8 tweets

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