I found out the hard way that if you don’t have a credit record you don’t exist, and I sort of got this sort of canonical on-campus credit card, promptly ruined my credit rating, like all the things you’re supposed to do, as in large air quotes. Before PayPal before, before university, before everything, really, as I started my sort of American life. I was born in Ukraine and came to the U.S. Let’s just start with what you were trying to do when you founded Affirm. So let’s dive into what you’re doing now, Max. Murray: So that will be the last reference to organized crime in this podcast. And so we all really enjoy each other’s company and do not think of ourselves organized crime. Even the occasional rivals maintain really good friendships. I think most of the PayPal crew thinks of ourselves, still, as really good friends. We don’t love the mafia term, just for the record. Levchin: It was definitely a zeitgeist-y, if that’s an appropriate adjective. So I think, maybe mafia is not the right the right framing for it, but it was certainly an interesting moment.
I mean, Alan, you just named sort of a gallery of personalities, and it was extraordinary how well PayPal did and all of your various inputs and influences and how interesting careers you’ve all had outside of it once you parted company. But you were all very different from each other. McGirt: I’m thinking the PayPal mafia cover was an iconic moment in business. Max Levchin: Thank you for the wonderful intro, and that’s correct, for better or worse. That includes Elon Musk, it includes Reid Hoffman, it includes Peter Thiel and it includes our guest, Max Levchin. And it’s the founders of PayPal, who then went on to create many other businesses. But Fortune, I believe, and we can ask our guest this, I believe, that PayPal Mafia was a phrase that not everyone loved that came out of a Fortune cover story. McGirt: You know, I do, and I feel a little bad about it because, Alan, I know that you only know me as a loyal Fortune employee but for a brief period of time, maybe six seven years, I did work for a competitor magazine and I did get a chance to meet and interview almost all the PayPal Mafia. Murray: My question is: Do you know what the PayPal Mafia is?
#Affirm buys cashflow management full
I am back to full health and I’m happy to be back on the job and-what’s your question? I’m dying to know. Ellen, how are you? I have a question for you when you tell me how you are.Įllen McGirt: I am great. I’m Alan Murray, and I’m here with my incomparable co-host, Ellen McGirt. Welcome to Leadership Next, the podcast about the changing rules of business leadership. TranscriptĪlan Murray: Leadership Next is powered by the folks at Deloitte, who, like me, are super focused on how CEOs can lead in the context of disruption and evolving societal expectations.
Listen to the episode or read the full transcript below. On this week’s episode of Fortune’s Leadership Next podcast, co-hosts Alan Murray and Ellen McGirt talk with Max Levchin, CEO of Affirm, about his reasons for founding the lending company and the long-term mission to upend the credit card industry.
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