Affirm’s Levchin Opposes Tech Breakup

Max Levchin, a serial entrepreneur and chief executive of the payment lending company Affirm, added his voice to the chorus of Silicon Valley leaders warning that a breakup of big tech companies by regulators will weaken the U.S. on the global stage, handing an advantage to Chinese competitors.

In a wide-ranging discussion at The Information’s annual subscriber summit on Thursday, Levchin said he was motivated to start Affirm by his frustration with the traditional credit system and also addressed the growing expectation among employees at tech companies that company leaders take stands on social and political issues. 

“The CEO is no longer excused from opining on the state of public affairs around them in this country and maybe even in this world, which I think is a massive responsibility and a burden,” Levchin said. “But if you don’t go there, it comes off as you don’t care.”