Impact of Artificial Intelligence on Employment in Fintech Industry

Sebastian Siemiatkowski, CEO of Klarna, expresses concerns about AI potentially replacing his job. Klarna has stopped hiring humans, favoring AI instead. The company aims to incentivize remaining employees amidst challenges posed by AI and fintech evolution.

Financial Crisis Due to Fintech Firm Collapse

Thousands of customers, including regular Americans, were affected by the collapse of a fintech firm called Synapse, leading to the loss of millions of dollars in customer funds held by various startups. The situation highlights the risks of relying on fintech middlemen and the challenges faced by customers in recovering their money.

Record Number of Americans Using 'Buy Now, Pay Later' Apps Amid Surging Inflation in Biden's Economy

Record number of Americans using 'buy now, pay later' apps amid surging inflation in Biden's economy. 6.5% of Americans, approximately 15 million, using BPNL apps for groceries. Major retailers like Walmart, Amazon, and Trader Joe's offer these apps. Gen-Z also using BPNL loans for various items. President Biden mentioned inflation has decreased, but it has been rising for the past three months.