Business Daily Business Daily meets: Max Levchin
Jul 10, 2025
Max Levchin, co-founder of PayPal and founder of Affirm, shares his entrepreneurial journey from tech pioneer to fintech innovator. He recounts a humbling moment when a poor credit score forced an all-cash car purchase, sparking his drive for change. Levchin delves into the inadequacies of traditional credit scores and the emotional rollercoaster of PayPal's meteoric rise. He emphasizes the mission behind Affirm, aiming to create inclusive financial solutions that prioritize consumer well-being amidst evolving regulatory landscapes.
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PayPal Co-Founder's Car Credit Rejection
- Max Levchin was embarrassed when a car dealer recognized him as the PayPal co-founder but rejected his credit due to a bad score.
- This experience inspired him to create Affirm, offering an alternative to traditional credit scoring.
Max's Determined American Assimilation
- Max decided on the plane to America that he would fully embrace the American way and not cling to nostalgia.
- He aimed to learn English without accent and assimilate completely.
Moving to Palo Alto with a Desk
- Max moved to Palo Alto with all his college belongings including a disassembled IKEA desk.
- He slept on a friend's floor but had to find air-conditioned spaces due to the summer heat.