Morning Brew Daily Klarna Losing Millions on "Burrito Loans" & People Love Trader Joe's
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May 21, 2025 Klarna grapples with hefty losses as customers struggle with 'buy now, pay later' loans. A standout Chinese EV battery maker is driving one of the year’s biggest IPOs amid the US-China trade conflict. Meanwhile, Trader Joe’s is celebrated as the most trusted brand in America, while Tesla's reputation wanes. On the sports front, Manchester United and Tottenham clash in a crucial showdown, both in dire need of redemption to secure their Champions League spots.
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Klarna's Rising Consumer Credit Losses
- Klarna faces rising losses as customers struggle to repay "buy now, pay later" loans.
- This reflects broader economic strains and declining consumer confidence in the US.
Klarna's AI-Human Customer Support Pivot
- Klarna's initial AI push replaced many human workers but lowered service quality.
- The company is now reintroducing human support to enhance customer service.
Klarna Uses Fan Gig Workers
- Klarna employs gig workers like Uber drivers as ad hoc customer support agents.
- These agents are often passionate fans who provide flexible, knowledgeable service.