Affirm's Max Levchin Breaks Down How Buy Now, Pay Later Really Works

In this episode of the Odd Lots podcast, hosts Joe Weisenthal and Tracy Alloway interview Max Levchin, founder and CEO of Affirm, a Buy Now, Pay Later (BNPL) company. Levchin discusses the origins of Affirm, stemming from his personal experiences with credit card debt, and explains how Affirm's model differs from traditional credit cards by offering transparent payment plans without late fees, aligning the company's interests with those of the borrowers. The conversation covers Affirm's underwriting process, its revenue model, competition in the BNPL industry, and its approach to data furnishing to credit bureaus. Levchin also shares his thoughts on the potential of stablecoins in payments and how Affirm utilizes AI to improve customer service and internal operations.