Closing Bell Closing Bell Overtime: Affirm CEO On Consumer Health; Tech Labor Landscape 7/2/25
Jul 2, 2025
Max Levchin, Founder and CEO of Affirm, offers keen insights on current consumer spending and lending trends as his company thrives. He explores evolving payment options, focusing on the rise of buy now, pay later services that are reshaping consumer credit. The discussion also touches on the broader tech labor landscape and recent job cuts at Microsoft, hinting at potential shifts in employment dynamics within the industry. With an eye on the healthcare sector, Levchin highlights investment opportunities amid changing economic forecasts.
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Microsoft Layoffs Not AI Cuts
- Microsoft layoffs are about retooling and cost-saving, not AI replacing jobs.
- AI technology currently isn’t advanced enough to fully replace human workers in most roles.
AI Investment Shifts Tech Spending
- Tech companies investing heavily in AI may divert funds from other divisions.
- Microsoft’s profitability remains strong, and market rewards AI investment despite layoffs.
American Consumer Remains Strong
- The American consumer remains strong despite macroeconomic concerns and negative headlines.
- Spending and repayment patterns show robust demand and responsibility among consumers.