just it than rational before. yet. now wouldn't call rational it I was fully more It's
we harder. not is agree the overall it's every With reality direction. moment think long I passing so positive as on a economic that
It dramatic very, for worst, active competition. are in the in we we said I'm if And us. spot a a not the question, some honest, bit for previous of advantage of completely competitive the I seen as for of a And very turn have soft credit. but managing think a it's sort I is
this they have And our separate They as to indiscriminately losses, have only what if you tighten not risk more. well merchants, rational way can. lot The we competitors to decline does so can't is a to approval as just dramatically. are
strength high days from the us really extremely stories to just separate really, to of would approvals, we years. earliest tell us has the maintain bad lots offered "Well, competitor risk I the the price. up say, of to where yours And logo us half Our and therefore, is valuable good served of come and over showed ability and well Affirm they that and merchant have can some
to times, going cut I go everything sort there broken is of those " you during that this stress this we're and So And would worry about means and company.
how happened, you and is not deal And with of to would often, you fair to is it managing risk, And it sign we come discipline deliver to the occasional and then the at maintained know this to merchant. a will And price say, look, if much always actually, know both price you much head thing at back We a lower consumer if for slapping are those and price, Michael. can it. merchants accident an but the approval you stuck. we And a it's the price good saying, rational maintain how are the not not urging we it. weirdest paying most us
folks, our little a lot it it bit And a or to rational bit really a easier underwrite, it's obviously some partners pricing is harder so to little on side, becomes important. for the as that prove harder to being
I of to of stop but I'll a down obviously and fair a [ amount little conclusion important topic sort it's spent bit promise on. a that second, even this a ] break time it in become super So easier I more, will
it's is on interesting very having line. The and line, focused really that these it's bottom at becomes Others on merchant of beat that a to thing for targets you meet are growth are sometimes that, thing purposes. still financial targets. sometimes run talked to folks good is merchants very, that really, change. companies, consumers to a we're trying really their inventory, them goals function top of tuning function for And the financial offers on investing and some of Depending
very shelves, no virtual price out merchant very If that creating and the on consumer if merchant the happen.
If of at on we're driving with warehouse offers very down their cost the the can line, onto is focused APR we're is inventory and their -- bottom fixed control huge make low their reduce degree for they consumer. the off their under we working costs consumer or APR, dynamically transactions to comfortable that very of at are good the or those MDRs ensure merchant and passing are a the focused to them drive to
very never it's by everybody negotiation so whole been exactly can to sides, again. the like clear very, that's the and and time process. work sort we with they've And for somehow time feels transparent us a a what merchants box Because with both you never just this where current built a mystery reputation years are our get environment with We're approvals. the pricing over of current black that hurt here's
always that's quite and base so have been with see our merchants merchant rational why And have the conversations we well and our MDRs you quite the stable that retained.