The PayPal Mafia, Crypto & the US's Credit Card Debt | Max Levchin (Affirm)

Transcript

to run a lending business is to have a hopefully predictable and highly manageable but non-zero loss rate at any given time. Your underwriting models are not perfect. You're not clairvoyant. You certainly can't see the future. So, whenever you lend money to someone who loses their job, that's a net adjusted charge off yet. You don't want to decline... Read More