Tyler Crowe

We were just talking about 2% of payment volume is buy now, pay later.

Credit cards are pretty much the dominant payment way of doing things.

Top-end clarinet subscriptions over $500 a year, you get credit card-like perks.

Other buy-now-pay-later companies like Sezzle also have membership tiers with various perks.

It really seems to me like buy-now-pay-later is doing their best to look more and more like credit cards.

If me, not the investor, but me like the consumer, what's the hook really here to get me to actually switch?

To that end, using subscription fees as a major revenue driver for these companies, it seems like they're taking a little bit more of the Amex model versus the Visa and MasterCard model of just being payment processors, and using that membership fee to really fund the business in that sort of way.

I want to get to this as the investment side of it.

Matt, we've talked about buy now, pay later before, especially when a firm went public.

At the time, you weren't necessarily a big fan of buy now, pay later as an investable sort of space.

Does these sort of evolvements or evolutions of the buy now, pay later space change your thesis at all?

Coming after the break, stocks on our radar.

As is our Thursday tradition, we're going to do stocks on our radar.

And this week, Matt, why don't you kick things off here?

I'm going to go a little bit off-script for my normal value companies.

I'm going to call them a deep experimental company.

This is Illuma, ticker ALMU.

This is a company that just recently uplisted to the Nasdaq.

It used to be an over-the-counter company.

What it does is, it actually developed a breakthrough in what are called compounded semiconductors.