Max Levchin

China’s Dystopian Social Credit System Is a Harbinger of the Global Age of the Algorithm

Share this:<p>Plans for China to rate its citizens for their trustworthiness have been depicted as uniquely Chinese. Don’t be so sure.<p>The Chinese …

China

How a 23-year-old Max Levchin got Peter Thiel to invest in his startup — which became PayPal — in under 24 hours

• <b>At age 23, Max Levchin moved to Palo Alto, where some of his former startup cofounders lived.</b>• <b><br>One former cofounder recommended he talk to Peter Thiel, who was teaching a class at Stanford.</b> <b>Levchin wandered into Thiel's class and they struck up a conversation.</b>• <b><br>Thiel picked one of Levchin's business</b> …

Business

The founder of PayPal uses data to optimize every aspect of his life — and he says being healthier comes down to a single habit

• <b>Max Levchin is a cofounder of PayPal and the CEO of online lending service Affirm.</b>• <b><br>He told Business Insider he made healthy eating and exercise a habit by doing it every day without fail.</b>• <b><br>Research supports this strategy: Once a habit becomes routine, you don't have to think about it.</b><p>"Be on the bike." …

Startups

A Walmart executive who sold his 1st startup for $6 million, 2nd startup for $550 million and 3rd startup for $3+ billion reveals how to become wildly successful

• <b>Marc Lore is the president and CEO of Walmart eCommerce in the US.</b>• <b><br>He founded Quidsi and sold it to Amazon in 2011 for over $500 million. Then he founded Jet.com and sold that to Walmart in 2016 for $3 billion and stock. His first startup was acquired for $6 million.</b>• <b><br>Lore says radical transparency,</b> …

Startups

Tech's Latest Innovation Looks A Lot Like a Social Club

Last weekend, 150 of tech’s most gifted engineers traveled to an Arizona resort to spend three days at an event that, despite having never happened …

Startups

How former Gilt Groupe CEO Susan Lyne took down Patty Hearst, took over Martha Stewart's empire while she was in prison, and now empowers women entrepreneurs

• <b>Susan Lyne is the president of BBG Ventures, a fund for early-stage startups that have at least one female founder.</b>• <b><br>Before BBG, she led Gilt Groupe, Martha Stewart Omnimedia, ABC Entertainment, and a movie magazine.</b>• <b><br>She says to have a multifaceted career like hers, you can't be afraid to fail.</b><p>She …

Success

Everything about our post-apocalyptic future was predicted on the Jetsons

As a child, I knew what the future would look like—I, like many ‘90s kids, spent Saturday mornings watching the animated sitcom, <i>The Jetsons</i>, after all. I couldn’t wait for the flying cars. Little did I know that the cartoon show about a Space Age family that lived above the clouds and had a robot …

Robots

Affirm’s big business for 2018 is marketing

Affirm may identify as a lending startup and encroaching on the payments space, but its core business is all marketing.<p>The San Francisco company, led …

Business

How to Build a Million-Dollar, One-Person Business – Case Studies from The 4-Hour Workweek

It’s hard to believe, but it’s been more than 10 years since <i>The 4-Hour Workweek</i> was published. And it amazes me that the book is still the most …

Entrepreneurship

23 startups that became unicorns in 2017, scoring valuations of $1 billion or more

Once upon a time, a startup worth $1 billion or more was considered to be a rare, almost mythical thing — a unicorn. But in the past few years, unicorns have become far more plentiful, more like horses.<p>A year ago, the venture capital industry looked like it was going to tighten its belt and bring …

Business

The 1 key thing star founders and CEOs say catapulted their startups into major success

YouTube/OWN TV<p>For startups on the path to success, there's often one key moment or decision that catapults them from obscurity to the big leagues.<p>This year on Business Insider's podcast, "Success! How I Did It," founders of companies such as PayPal, Lyft, and Dropbox shared how they built their …

Startups

The Libertarian Logic of Peter Thiel

<b>In 2004, Peter Thiel created a company,</b> Palantir, that built on his PayPal cofounder Max Levchin’s algorithms for analyzing and making judgments …

Marc Andreessen

The Buddhist monk and author Matthieu Ricard may be the world's "happiest man," according to science

.<p><b>Matthieu Ricard was born into an intellectual French family; his mother was an abstract painter and his father a philosopher.</b>• <b><br>After earning a doctorate in molecular genetics at the Pasteur Institute, he moved to the Himalayas and became a Buddhist monk.</b>• <b><br>In addition to 50 years of practicing as a</b> …

Psychology

This Week In Credit Card News: Beware Of Tampered Gift Cards; Why Such Growth In Credit Card Use?

<i>Buyers Beware of Tampered Gift Cards</i><p>Prepaid gift cards make popular presents and no-brainer stocking stuffers, but before you purchase one be on the lookout for signs that someone may have tampered with it. A perennial scam that picks up around the holidays involves thieves who pull back and then …

Fannie Mae

High-tech lenders target the decades-old store credit card

SAN FRANCISCO (Reuters) - The once-hot online lending industry has been battered by scandal and losses since last year, but one of the oldest forms of lending - store credit - is increasingly attracting tech companies aiming to supplant a retailer's credit card.<p>One such lender, San Francisco …

FinTech

'The Ed-Tech Mafia

<i>I cannot believe that in the midst of everything I’m trying to accomplish right now I agreed to give a talk. But I did. And so tonight I spoke with</i> …

Bill & Melinda Gates Foundation

Cryptocurrencies Could Finally Gain Validation As Bitcoin Price Skyrockets And CME Futures Go Live

The price of Bitcoin has skyrocketed over the last week after the CBOE and CME both begin releasing futures contracts.<p>What has been considered a …

Business

Insider Q&A: PayPal founder talks digital payments, bitcoin

SAN FRANCISCO — Max Levchin helped introduce the masses to the concept of a digital wallet when he co-founded PayPal in the late 1990s.<p>These days, …

Banking

PayPal Co-Founder Max Levchin Just Gave a Remarkably Honest Response to Accusations About His New Startup

Affirm lends money to make purchases. It's like a credit card, but less risky for customers.<p>The personal loans startup Affirm offers a straightforward proposition: Buy things now, pay for them later. The service is not so different from a credit card, but consumers take out individual loans instead …

Exponential Finance Conference

San Francisco mayor's death signals tougher times for tech

Mayor Ed Lee died of cardiac arrest earlier this week — it's likely the end of sweetheart tax deals for tech firms<p>San Francisco mayor Ed Lee's sudden …

San Francisco

Tennis superstar Venus Williams reveals how she's overcome personal and physical challenges to stay at the top of her game for 20 years

• <b>Venus Williams started playing tennis with her sister Serena when she was 4 1/2 years old.</b>• <b><br>Their father coached them and had great aspirations. He had a 78-page plan to turn them into tennis champions — which he wrote before they were born.</b>• <b><br>The plan, paired with Williams' extreme natural talent and</b> …

Venus Williams

Recode Daily: The internet is ready for Thursday’s net neutrality vote to be over

Plus, an upset in Alabama, San Francisco mayor Ed Lee was a friend to Silicon Valley, Steve Bannon’s dirty-tricks campaign against Twitter, and Santa’s brand book.<p><b>Alabama elected Doug Jones to the U.S. Senate</b> — the first time the state has elected a Democrat to that seat in decades. Pundits argue …

Steve Bannon

Affirm joins unicorn club after $200 million round

<i>This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.</i><p>US-based online point-of-sale (POS) financing provider Affirm has raised $200 million in a Series E round led by GIC, Singapore's sovereign wealth fund, with existing backers …

FinTech

Silicon Valley sends condolences after SF mayor Ed Lee’s sudden death

Lee passed away at the age of 65.<p>San Francisco mayor Ed Lee passed away early Tuesday morning after suffering a heart attack. Lee, who rose to national fame for being the first Asian-American mayor of San Francisco, was a close ally of the tech community. He was 65.<p>“It is with profound sadness and …

Technology

So Long, Ed Lee. The Tech World Will Miss You.

<b>Ed Lee</b>, the tech-friendly mayor of San Francisco who convinced companies to stay and expand, transforming the city’s skyline and enriching its …

Silicon Valley

San Francisco's tech community reflects on mayor Ed Lee's support after his death

San Francisco mayor Ed Lee died early Tuesday morning, leaving behind a conflicted legacy in a city known for innovation but afflicted with …

San Francisco

Lending startup Affirm valued at $1.8 billion in latest financing round

SAN FRANCISCO (Reuters) - Silicon Valley lending startup Affirm said on Monday it has raised $200 million in a fresh round of funding, boosting prospects as the firm aims to go after the market for millennial shoppers needing loans.<p>The new financing put Affirm's total fundraising to date at about …

Business

Affirm Raises Another $200 Million, With Investment From Singapore's Sovereign Wealth Fund

Affirm, which offers instant loans for online purchases, said on Monday it has raised another $200 million in equity.<p>The San Francisco-based company’s Series E funding round was led by Singapore’s sovereign wealth fund GIC. It also had participation from Khosla Ventures, Lightspeed Venture …

Startups

Max Levchin’s Affirm raised $200 million at nearly $2 billion valuation

Affirm, the platform that helps consumers find financing is getting some financing of its own.<p>The San Francisco-based company confirmed that it’s raising $200 million, led by GIC, a Singaporean sovereign wealth fund. Existing investors Khosla Ventures and Spark Capital are also …

Startups

Startup Affirm Nears $2 Billion Valuation After Investment

Financial-technology startup Affirm Inc. said Monday that it raised $200 million in new equity as it battles larger players getting into its core business of lending to consumers for retail purchases.<p>GIC, a Singaporean sovereign-wealth fund, led the fundraising round, which gave a private-market …

FinTech