Max Levchin

32 statements across 3 episodes · 8 bullish · 3 bearish · 3 people on the record · first statement Jun 24, 2019 by Jeremy Stoppelman · said 29 times in 2 episodes since 2019 · across every show →

On the record as a speaker too: Max Levchin's record, appearances and statements → this page counts the times other people say the name.

Mentions by year

brought up most by Guy Raz (17), Jeremy Stoppelman (12)

tap a year for its mentions
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0112019202020212022episodes it came up in
00150.53012019202020212022episodesmentions per episode
2022 3 mentions in 1 episode
2019 26 mentions in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Max Levchin, oldest first

Jun 24, 2019
Assertion Supported
Max Levchin invested $1M for 40% equity to start Yelp
“So Max committed the million dollars. He got a large chunk of equity. I think it was 40%.”
Jeremy Stoppelman Jun 24, 2019 ▶ 22:29 Yelp: Jeremy Stoppelman
Jun 24, 2019
Assertion Not checkable as stated
Max Levchin's incubator launched four projects with a 50% hit rate
“I mean, he had essentially three or four, I think it might have been four as the total count in the incubator. You know, of those two, two really worked out, and then two did not.”
Jeremy Stoppelman Jun 24, 2019 ▶ 23:08 Yelp: Jeremy Stoppelman
Jun 24, 2019 neutral
Opinion
Only top executives were obvious future stars at early PayPal
“I don't think you could have really predicted it. Obviously, Max was already pretty far along for a 24 year old, so it was obvious, you know, he was gonna be someone interesting in the industry, you know, Peter Thiel, same thing. So, you know, I'd say the top …”
Jeremy Stoppelman Jun 24, 2019 ▶ 10:31 Yelp: Jeremy Stoppelman
Jun 13, 2022 positive
Assertion Not checkable as stated
Reid Hoffman's advice on securing assets sparked PayPal's electronic wallet pivot
“Reid was one of the more prescient Grains who was sort of like, hey, you can secure other things. Maybe you can like secure invoices or secure IOUs or, you know, secure something that kind of is valuable in and of itself. And that kind of pushed us close enou…”
Max Levchin Jun 13, 2022 ▶ 44:38 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 negative
Assertion Supported
Levchin: Original PalmPilot lacked encryption and allowed open communication sniffing
“And then I looked at the security design of the Palm pilot and was sort of flabbergasted to know that there was no way to encrypt anything. You could communicate with other Palm pilots, but people could sniff the communication and just steal your secrets.”
Max Levchin Jun 13, 2022 ▶ 31:45 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Levchin: Grandmother bribed a Soviet official to secure family's US emigration
“She had to bribe a Soviet official to give her a new birth certificate. And suddenly we found ourselves on a plane to New York.”
Max Levchin Jun 13, 2022 ▶ 10:43 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 positive
Assertion Supported
PayPal's makeshift web-to-web demo accidentally drove its explosive early growth
“And as a footnote, we had a Web to Web, very much a demo quality product that I threw together to just show how this works if you just don't happen to have any Palm Pilots around. And it's that demo that took off like crazy.”
Max Levchin Jun 13, 2022 ▶ 52:04 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Insight
Levchin: Founders Only Get Scared Once They Have Something to Lose
“Once you get some barnacles of good life on you, that's when you start getting scared until you have something to lose. It's not that scary to be in this permanent concern state.”
Max Levchin Jun 13, 2022 ▶ 1:20:39 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 positive
Assertion Not checkable as stated
Early PayPal screened against frat culture in favor of rigorous intellectual debate
“One of the interesting accusations that sometimes is leveled against the early PayPal crew is that it was this idea of a frat culture. It's actually quite the opposite. You know, if anything, we were screening against this idea of sort of a self-righteous, pri…”
Max Levchin Jun 13, 2022 ▶ 1:11:23 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Contradicted
Levchin: Peter Thiel's 1998 hedge fund was roughly $10 million
“I think it was ten million dollars. It was very small.”
Max Levchin Jun 13, 2022 ▶ 26:15 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 positive
Opinion
Levchin: Elon Musk is great to debate because he is always rational
“He has an engineer's mindset. So for an engineer, which I certainly am, it's a great person to agree or disagree with because it's always rational.”
Max Levchin Jun 13, 2022 ▶ 1:05:31 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Levchin: College classifieds venture charged newspapers $1,200 annual SaaS fees
“And so we would actually charge them SAS fees, like 1200 dollars a year, I think.”
Max Levchin Jun 13, 2022 ▶ 19:10 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Levchin: Mother tested food radiation in Ukraine before and after Chernobyl
“She was employed at the Food Sciences Research Institute, which sounds very boring, but she had a really cool job. She was measuring foods for radioactive contamination. And before Chernobyl, that was the very boring job. And then after Chernobyl, it became a …”
Max Levchin Jun 13, 2022 ▶ 5:08 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Insight
Levchin: Mobile payments must be easier and faster than cash and cards
“And if it's not easy, it's just not going to work with money. Money works pretty well when it's in paper form and it works Really well when it's a card form. So if you're trying to push it into an application or into a mobile device, it better be easier and qu…”
Max Levchin Jun 13, 2022 ▶ 49:52 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Levchin: Learned programming in Soviet Ukraine from bootleg CS translations
“And within a few months, I was a better programmer than my mom and then better programmer than her colleagues. And I was just gorging myself on all the knowledge that I could get from bootleg translations of various computer science books. And so by the time I…”
Max Levchin Jun 13, 2022 ▶ 8:21 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 neutral
Insight
Levchin: Early startup failures came from building overly complicated software
“Most of my failures as a startup CEO, CTO, whatever I thought I was, or because I would build things that I thought were good and easy to use. And then I would show them to someone like the classified software and people were like, this is a really great But I…”
Max Levchin Jun 13, 2022 ▶ 24:56 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Peter Thiel invested $300,000 on the spot in Levchin's Secure Pilot
“He asked me how much money I thought I needed to get this off the ground. And I said, I think I need about a half a million dollars. It's a great, I'll invest 300,000.”
Max Levchin Jun 13, 2022 ▶ 33:25 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022
Assertion Not checkable as stated
Levchin: Grandparents survived WWII due to Soviet defense physics work
“And the reason he and my grandmother survived, they were both physicists, and they were both involved in some defense-related work for the state. So as the Germans approached Kiev, they were both sent very far off into Siberia to help the war effort from Far a…”
Max Levchin Jun 13, 2022 ▶ 4:38 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 negative
Insight
A 50/50 equity split caused the bitter internal battles at PayPal
“And then you merge, and it's a fifty-fifty merger, which means just no one knows who won. And that's, by the way, sort of the root of all complexity at paypalx.com story is that because we sort of settled on this, well, there's not really a senior partner. Equ…”
Max Levchin Jun 13, 2022 ▶ 1:07:46 PayPal: Max Levchin (Part 1 of 2)
Jun 13, 2022 negative
Disclosure
Levchin took out startup frustration by ripping into founders' pitches at Sequoia
“And then I started noticing that I was really good at ripping into people's ideas. They would bring in this really cool concept. And of course it was half baked. It was just, you know, some bright eyed kid Freshly out of college thinking about here's what they…”
Max Levchin Jun 13, 2022 ▶ 1:24:59 PayPal: Max Levchin (Part 1 of 2)
Jun 20, 2022 positive
Opinion
Levchin: PointCast did nothing wrong in product strategy, just launched early
“Eventually I decided they did nothing wrong. They were just too early.”
Max Levchin Jun 20, 2022 ▶ 10:29 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022 neutral
Assertion Not checkable as stated
Levchin: PayPal had an intensely combative, truth-seeking culture
“PayPal was this unbelievably combative Kind of a truth-seeking, by any means necessary, almost, culture.”
Max Levchin Jun 20, 2022 ▶ 17:27 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022 positive
Opinion
Levchin: Sundar Pichai was singularly the kindest person at Google
“Sundar, who is now of course the CEO of the whole thing was singularly the kindest person I met at Google.”
Max Levchin Jun 20, 2022 ▶ 20:58 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Disclosure
Levchin felt like a fraud building entertainment products at Slide
“And throughout the whole thing, I felt like a fraud. Like I never played video games growing up. I was not really into photography. I was not a photo sharer. And so this idea of building entertainment products was this sort of mask I took on.”
Max Levchin Jun 20, 2022 ▶ 16:51 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022 positive
Insight
Levchin: Startups need professional respect over collegiality during market downturns
“I over-indexed on this idea of, hey, we really have to have just a lot more collegiality, and that works really well if you are doing great as a company. But inevitably, every company goes through ups and downs, and sometimes downs take a long time, and, you k…”
Max Levchin Jun 20, 2022 ▶ 17:53 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Assertion Supported
Levchin created an early CAPTCHA to protect PayPal from hackers
“Max created that test after PayPal was getting hammered by hackers.”
Guy Raz Jun 20, 2022 ▶ 56:53 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Insight
Levchin: Capitalizing on luck requires relentless grinding and compromising work-life balance
“And what do you do after, once you see one of those, have one of those, it does come down to work ethic and just willingness to grind and, you know, sleep less and Compromise things like work-life balance, which have their own consequences. It's not free, and …”
Max Levchin Jun 20, 2022 ▶ 56:10 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022 positive
Disclosure
Levchin offered $1M on a whim to fund Yelp at inception
“And entirely on a whim, I basically said, I will buy as much of this company as you'll sell me for a million dollars.”
Max Levchin Jun 20, 2022 ▶ 8:45 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Assertion Supported
Levchin held 11% of Yelp at IPO and significantly more initially
“By the time of the IPO, yes, but in the moment it was much more since there was really nothing.”
Max Levchin Jun 20, 2022 ▶ 9:01 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Disclosure
Levchin fronted $100,000 of his own money to launch Affirm
“The day we launched, I sort of said, well, we have no way of financing these loans, and it's going to be a negative cash flow business. And so I will put up a 100,000 dollars of my own money to front these payments.”
Max Levchin Jun 20, 2022 ▶ 43:18 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022
Assertion Supported
Levchin: Slide was the seventh largest web property at its peak
“That's right. I remember noticing that we were something like the seventh largest property on the web.”
Max Levchin Jun 20, 2022 ▶ 16:05 Affirm: Max Levchin (Part 2 of 2)
Jun 20, 2022 neutral
Insight
Levchin: Valuable things are hard, but hard things aren't always valuable
“Hard is not always valuable. Valuable is typically hard, but the inference doesn't work the other direction all the time.”
Max Levchin Jun 20, 2022 ▶ 24:58 Affirm: Max Levchin (Part 2 of 2)
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