LC - Pagaya's Hybrid Business Model: Double Risk Zero Benefits June, 24 2024 08:53 AM LendingClub Corporation 2024-06-24 08:53:58 ET Summary Pagaya's insatiable capital needs to fund growth cast a shadow over its unique business model. The company's strategy to achieve profitability by early 2025 is plagued with uncertainty. Its low valuation is weighed against business model shortcomings. Investment Thesis For further details see: Pagaya's Hybrid Business Model: Double Risk, Zero Benefits