An interview with Affirm co-founder Max Levchin on hitting profitability, international expansion, building an "Affirm mafia", DOGE, friendship with Musk, more (Andrew Edgecliffe-Johnson/Semafor)

### Summary of Interview with Affirm Co-Founder Max Levchin In a recent interview with Semafor, Max Levchin, co-founder of Affirm and PayPal, discussed a range of topics including the company's journey to profitability, plans for international expansion, the concept of building an "Affirm mafia," his thoughts on Dogecoin (DOGE), and his friendship with Elon Musk. #### Hitting Profitability Affirm, the buy-now-pay-later (BNPL) company, has made significant strides in its financial performance. Levchin highlighted the company's focus on sustainable growth and efficient operations as key factors in achieving profitability. He emphasized the importance of balancing customer acquisition with cost management, stating that Affirm has been meticulous in optimizing its business model to ensure long-term financial health. The company's success in this area is a testament to its innovative approach to consumer finance and its ability to adapt to market changes. #### International Expansion Affirm is not content with its domestic success and is eyeing international markets. Levchin outlined the company's strategic plans for expanding its services globally, particularly in regions where the BNPL market is growing rapidly. He mentioned the potential for partnerships and acquisitions to facilitate this expansion, ensuring that Affirm can offer its unique financial solutions to a broader audience. Levchin also discussed the challenges and opportunities that come with navigating different regulatory environments and consumer behaviors in international markets. #### Building an "Affirm Mafia" Levchin drew a parallel between the "PayPal mafia" and the "Affirm mafia," referring to the network of influential individuals who have emerged from these companies and gone on to create significant impact in the tech and finance industries. He highlighted the importance of fostering a strong company culture and encouraging employees to think creatively and independently. Levchin believes that the talent and experience gained at Affirm will lead to the emergence of a new generation of leaders and entrepreneurs, much like those who emerged from PayPal. #### Thoughts on Dogecoin (DOGE) When asked about Dogecoin, a cryptocurrency known for its meme origins, Levchin was characteristically candid. He expressed a nuanced view, acknowledging the speculative nature of DOGE while also recognizing its potential as a community-driven financial tool. Levchin noted that while he is not an active investor in Dogecoin, he is fascinated by its ability to engage and mobilize large groups of people. This observation underscores his broader interest in the intersection of technology and finance, particularly in how decentralized systems can empower users. #### Friendship with Elon Musk Levchin's relationship with Elon Musk, co-founder of PayPal, was a topic of interest in the interview. He described their friendship as a blend of mutual respect and a shared passion for innovation and problem-solving. Levchin recounted early days at PayPal, where Musk's vision and leadership played a crucial role in the company's success. He also touched on their differing approaches to business and technology, noting that while they might not always agree, their friendship remains strong and grounded in a common goal of making a positive impact on the world. #### Other Insights Beyond these main topics, Levchin shared several other insights: - **Customer Trust and Transparency**: He emphasized the importance of building trust with customers through transparency and ethical practices. Levchin believes that this trust is essential for the long-term success of any financial service. - **Regulatory Environment**: Levchin discussed the evolving regulatory landscape for fintech companies, advocating for a balanced approach that protects consumers while allowing for innovation. - **Technological Innovation**: He highlighted the role of technology in driving financial inclusion and accessibility, particularly in underbanked communities. Levchin sees Affirm's technology as a means to democratize credit and provide fair financial options to more people. - **Future Vision**: Levchin outlined his vision for the future of Affirm, focusing on expanding its product offerings and deepening its integration into the broader financial ecosystem. He envisions a world where Affirm's services are seamlessly integrated into everyday transactions, making financial management easier and more accessible for everyone. #### Conclusion Max Levchin's interview with Semafor provides a comprehensive look at Affirm's strategic direction and his personal insights into the tech and finance industry. From hitting profitability and planning international expansion to building a strong company culture and navigating the regulatory landscape, Levchin's vision is clear: to create a sustainable and innovative financial services company that makes a meaningful difference in people's lives. His friendship with Elon Musk and his thoughts on Dogecoin add a personal touch to the interview, offering a glimpse into the mind of one of the tech industry's most influential figures.