UPST 
is the only stock I have that is in red today. Also the largest loss in %. Though not too large because of smaller position.
“Upstart said yesterday that it expects to generate only about $228 million of revenue in the second quarter of the year, which is significantly lower than the $295 million to $305 million it had initially guided for. Furthermore, Upstart expects to lose between $27 million and $31 million in the quarter, also a much wider loss than anticipated.”
That’s a HUGE revenue miss. I’m amazed it’s not down 50%.
This interview marks the peak of UPST.
Own stocks in three FinTech, SQ MQ UPST. Thought of selling the other twos and put all in SQ, looking through the daily price charts, surprise to find that MQ is looking best. So no action. Anyhoo, aggregate investment in FinTech is less than SHOP investment, so is not a huge investment in FinTech.
Just for info, AAPL is into FinTech 
FinTech is one of the potential candidate that could replace iPhone as the main revenue driver. The other three is well-being, metaverse and AV.
Any1 owns SOFI?
So many people like AFRM
2 days ago,
Should have done so given today price action,
Above is my e-commerce and FinTech stocks. May adjust if necessary… so many people like MELI AFRM ADYEY DLO.
This seems to be a terrible idea. Borrow money to have enough cash to get 401k match. Then if you change employers you have to repay the money and 20% of the gain in value. The issue is paying it back requires cashing out at least a portion of the 401k which is taxed (all of it not just the gains) and 10% penalty. Since let’s face it, if someone had cash to repay the money, then they wouldn’t be using the program in the first place. This could make a layoff even worse, since it’d trigger repayment.
SHOP is back 
I was surprised to see their revenue growth rate increase. It grew almost 2x more than the gross-merchandise volume, so they are getting more revenue per $ of item sold.
Affirm — The stock plunged 18% after Affirm disappointed on earnings per share expectations, and issued weaker-than-expected guidance for its fiscal second quarter.
Upstart Holdings — The AI-driven lending platform tumbled 11% after the company issued a weaker-than-expected revenue forecast for the current quarter, citing challenging economic conditions.
More pain…
Both might disappear. Joining PTON ROKU DOOR.
Lots of growth stocks going to single digits (and maybe staying there?) until the Fed blinks.
SE 40%
I feel this trend started months ago. So many of these “business models” made zero sense.
“Over the past 10 years, we, along with most tech companies, became too focused on growing headcount as a metric for success.”
This sums up the insane private valuations very well. The ability to hire was the measure of success. That success meant needing to raise more money. For the math to work, the next valuation had to be even higher. It became a house of cards.
FinTech would eventually disrupt the traditional banks and financial institutions. Just don’t know when and which fintech companies.
How much revenue is there in the traditional checking and savings account business though? People even expect free brokerage trades now. GS tried to start a consumer brand and realized there are no profits there. The revenue and profits are in the higher end services.