Sign up to receive our
daily summary of tech news for free.

Affirm CEO Max Levchin. Photo by Angie Silvy
Subscriber Summit
Startups

Affirm’s Levchin Opposes Tech Breakup

Photo: Affirm CEO Max Levchin. Photo by Angie Silvy

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.”

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive Entertainment
The Athletic and Bleacher Report Consider Betting Deals

Over the past few years, online publishers have turned to commerce marketing as an important source of revenue. Now some publishers that specialize in sports, like The Athletic and AT&T’s Bleacher Report, are looking at doing similar deals around online sports betting, according to people familiar with the situation.

Online betting is taking off as a growing number of states legalize ...

Latest Briefs
 
New RealNetworks Software Identifies People in Videos
Early Facebook Employees Pen Letter of Protest
CES Plans For In-Person Show Next Year
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Startups Facebook
Who’s Really Hiring in Tech Right Now
Tech workers are facing a job market that seemed unthinkable six months ago. They’re getting fired over Zoom, whipsawed by phantom job listings and finding that aggressive recruiters have suddenly gone quiet.
Data Point Real Estate Policy
Tech Workers Could Face Steep Pay Cuts for Leaving Bay Area
Last year, Michael Snow joined GitLab, an open-source collaboration software firm that has long allowed its employees to work remotely from anywhere they want.
Exclusive Facebook Asia
Snap Plans Expanded Developer Platform That Echoes WeChat
Snap is planning to let other companies build pared-down versions of their mobile apps within Snapchat, according to two people familiar with the plans, mimicking the approach of popular Chinese social app WeChat.
Venture Capital Startups
Tech Workers Stung by Job Listings That Aren’t Real
As companies scramble to cut costs through layoffs and furloughs, many freshly unemployed workers in tech and media are flocking to online job listings with a new sense of urgency.
Exclusive Economy
Snap CEO Spiegel Calls for Reparations Commission, Taxes to Address Racial Injustice
Snap CEO Evan Spiegel called for the creation of an American commission to address racial injustice and comprehensive tax reform, saying in a lengthy note to employees that he was “heartbroken and enraged” by racism in America.
Modest Proposals Venture Capital Startups
The Over-Under on New Voice-Chat App Clubhouse
The new voice-chat app Clubhouse recently made waves by raising its first institutional round of financing, which reportedly valued the company at more than $100 million.