Klarna

…I think a lot of it is sort of natural tech ecosystems and how they operate right , which is that like once you have a business that has scaled or IPO'd so in Sweden it's been Klarna and then Adyen for the Netherlands and so each country kind of has their scale ups that are kind of getting to a maturity level that then starts to spawn off a lot of other founders , and so that sort of maturity cycle…

…Like an example is Klarna, which is a uh, buy now, pay later type of company that in 2024 they sacked around 700 of their support agents or people who work in customer service and replace them with an AI.…

…You're going to see Klarna and you're going to see a firm.…

…Well, that's why these companies like Stripe and Klarna and PayPal, they can embed their payment services in people's environments because they're like, we'll just take care of the whole thing for you.…

…And this is how I ended up going to Klarna, working with the ah, credit infrastructure and uh, backend systems.…

…And I think one of the most recent examples, I believe was Klarna, where they laid off a whole bunch of people, said we're going to replace everybody with AI bots.…

…I think what you're seeing a lot, if you look at like Klarna has been all over the news on their reduction of workforce with the replacement of AI and so forth.…

…I think the shallow thinking around AI agents right now is how much, how many jobs can I cut, much efficiency can I get in my company so that I can go public? How much? I mean, listen, I will blast Klarna all day for firing 750 people using agents, but not thinking bigger than that about how they are a consumer brand.…

…In particular, I don't know if you saw that Klarna recently raised money at a tenth of the valuation of their previous round and you've seen a significant reprice in the equities that are publicly traded.…

…Klarna is expanding its U.S.…

…I actually spent some time talking to some people at Klarna through introduction from you and people from OpenAI.…

…And I'm like, okay, is that klarna?…

…When I worked at Klarna, we had a program where people could move out of their other competence into product management.…

…I left Klarna, and I went to, uh, startup.…

…But I, you know, I think I may have mentioned this in one of the episodes, like when I was at Klarna, we had this, this pipeline of people who wanted to leave other competences and become product managers.…

…that these companies are no longer just email people like .digital, they're far more than that these days we can introduce those people to talk to them and have their own conversations Nostu, Klavu, Klarna, UK Fast for hosting a great partner of ours that's where it comes down to the the ecosystem of e-commerce is great we know these people can pick up the phone and we can make those recommendations but always based on…

…Um, you know, we've obviously there've been, you know, there have been the Klarnas and the Amazons and all these, you know, other organizations that have, you know, sent their memos or made their cuts or whatever.…

…The association, representing firms like Klarna, argued that the rule's disclosure requirements were improper for BNPL products complicating operations.…

…JPMorgan Chase has partnered with Klarna to offer installment loans to its business clients, while Citi has allied with Apple Pay to provide deferred payment loans.…

…By now, pay later reinvents itself as lifestyle, spending, Klarna's new vision.…

…Shifting gears Klarna has made a significant move in the Buy Now, Pay later industry by becoming the exclusive BNPL provider for Walmart, replacing a firm.…