AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
Affirm: Max Levchin (Part 2 of 2)
How I Built This with Guy Raz
Is There a Disincentive to Do Not Pay on Time?
The company uses artificial intelligence to underwrite pretty much every loane. When pitching this model to investors, did they believe that that approach was good enough? The vast majority of people are going to pay us back if there's no late fees, right? And you don't, it's just a straight, you know, four payments. What's the disincentive to to does not pay on time? For one, if you're delinquent, you can't transact again. If you r what's inte industry is evocatively called a sloppy payer - which is someone who generally pays their bills, but are almost never on time.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode