Diving Deep with Max Levchin

In this inaugural "Diving Deep" episode of Fintech Takes, Alex Johnson interviews Max Levchin, co-founder of PayPal and CEO of Affirm, about the history of fintech, product design, and the future of credit. Levchin discusses the importance of solving real problems and understanding customer needs, drawing from his experiences at PayPal and Affirm. The conversation covers Affirm's approach to credit underwriting, emphasizing the use of mathematics and real-time data, and the company's commitment to honest financial products. Levchin also shares his views on regulation, the importance of building a strong company culture, and the potential impact of agentic commerce on the financial industry.

Outlines

Part 1: Origins, Product Design, and Empathy

Part 2: Technical Infrastructure and AI Modeling

Part 3: Mission, Culture, and Regulatory Strategy

Part 4: Network Strategy and Consumer Credit

Part 5: Ecosystems and the Future of AI Commerce

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Fintech Takes

Part 1: Origins, Product Design, and Empathy

Introduction to Diving Deep and Early PayPal History

Futurism vs. Product Design and the 15% Problem

Customer Empathy, "Living Better Through Mathematics," and Real-Time Underwriting

Part 2: Technical Infrastructure and AI Modeling

Building a Model Building Factory and Staying Ahead of Research

Explainability, Replayability, and the Role of Regulation

Part 3: Mission, Culture, and Regulatory Strategy

Affirm's Approach to Regulation and Building a Mission-Driven Team

Maintaining Mission Alignment and Cultural DNA as a Company Grows

Part 4: Network Strategy and Consumer Credit

Balancing B2B and B2C Strategies and Navigating Network Conflicts

Product Usage vs. Intended Use and the Importance of Credit Reporting

Part 5: Ecosystems and the Future of AI Commerce

Open vs. Closed Loop Ecosystems and the Future of Agentic Commerce

Diving Deep with Max Levchin

Fintech Takes

Part 1: Origins, Product Design, and Empathy

00:00Introduction to Diving Deep and Early PayPal History

Introduction to Diving Deep and Early PayPal History

04:23Futurism vs. Product Design and the 15% Problem

Futurism vs. Product Design and the 15% Problem

14:52Customer Empathy, "Living Better Through Mathematics," and Real-Time Underwriting

Customer Empathy, "Living Better Through Mathematics," and Real-Time Underwriting

Part 2: Technical Infrastructure and AI Modeling

24:40Building a Model Building Factory and Staying Ahead of Research

Building a Model Building Factory and Staying Ahead of Research

33:35Explainability, Replayability, and the Role of Regulation

Explainability, Replayability, and the Role of Regulation

Part 3: Mission, Culture, and Regulatory Strategy

44:37Affirm's Approach to Regulation and Building a Mission-Driven Team

Affirm's Approach to Regulation and Building a Mission-Driven Team

55:41Maintaining Mission Alignment and Cultural DNA as a Company Grows

Maintaining Mission Alignment and Cultural DNA as a Company Grows

Part 4: Network Strategy and Consumer Credit

1:03:04Balancing B2B and B2C Strategies and Navigating Network Conflicts

Balancing B2B and B2C Strategies and Navigating Network Conflicts

1:17:51Product Usage vs. Intended Use and the Importance of Credit Reporting

Product Usage vs. Intended Use and the Importance of Credit Reporting

Part 5: Ecosystems and the Future of AI Commerce

1:30:44Open vs. Closed Loop Ecosystems and the Future of Agentic Commerce

Open vs. Closed Loop Ecosystems and the Future of Agentic Commerce