Insider Q&A: Max Levchin, founder and CEO of Affirm

By KEN SWEET
AP Business Writer

NEW YORK (AP) — Affirm’s stock has lost nearly 80% of its value this year as soaring inflation made investors doubt the future of buy now, pay later services. This week the company forecast revenue for next year that was worse than analysts expected, kicking the stock lower again. Founder Max Levchin was part of the team that helped launch PayPal in 1998. Levchin recently spoke with The Associated Press about the health of their borrowers and the increasing numbers of competitors. The interview has been edited for length and clarity.