Affirm’s Max Levchin & Axios’ Dan Primack

Max Levchin, CEO of Affirm and co-founder of PayPal, provides insights into the current state of the American consumer, noting that Affirm’s user base remains financially stable with consistent delinquency rates despite broader economic fluctuations. The discussion highlights the company’s commitment to transparency and rigid underwriting, which filters for disciplined borrowers. Levchin addresses the evolution of "agentic commerce," arguing that while AI-driven purchasing is useful for routine tasks or technical product comparisons, human judgment remains essential for taste-based shopping like fashion. He also touches on the challenges of integrating new merchants and reflects on his post-PayPal career, emphasizing his preference for maintaining a clear boundary between his private life and his public professional persona.