“Really interesting to go back and listen to the Affirm episode in the era of high interest rates. It gives you a great sense of how blind FinTech entrepreneurs are to the “Fin” side of their profession. Levchin, who sounds like an amazing guy in general, claims that Affirm’s profitability trajectory is essentially guaranteed by the unit economics of the company’s business model. He calls it a fun math problem. Obviously he knows very little about cost of funding. The roughly 20% of his workforce that was recently laid off probably wishes he had taken at least one finance class to balance his programming genius.”
mitchell.33 via Apple Podcasts ·
United States of America ·
05/27/23