Affirm's Max Levchin Responds to New Competition From Apple

The transcript discusses Affirm's business model, highlighting its focus on turning browsers into buyers through merchant services. It contrasts Affirm's approach with Apple's potential entry into the market, emphasizing Affirm's decade-long experience in consumer underwriting. The discussion also covers the growth potential of the buy now, pay later market, stressing the importance of responsible lending. Finally, it analyzes consumer spending trends, noting significant growth in travel and retail sectors post-lockdown.

What is the primary focus of Affirm's business model?

• Providing digital wallets

• Turning browsers into buyers

• Offering credit cards

• Developing mobile apps

What unique advantage does Affirm have over its competitors?

• Lower interest rates

• Integration with iPhone

• A decade of consumer underwriting experience

• A large number of retail partners

What is a key factor driving the growth of the 'buy now, pay later' market?

• Responsible spending and borrowing

• Government regulations

• High interest rates

• Lack of competition

Which demographic groups are primarily driving the demand for 'buy now, pay later' services?

• Baby Boomers

• Gen X, Gen Z, and Millennials

• Senior Citizens

• Children

What was the percentage increase in travel loan volume for Affirm during the July 4th weekend?

• 600%

• 450%

• 250%

• 100%

Which category saw a 90% year-on-year increase in spending during the July 4th weekend?

• Groceries

• Apparel

• Automobiles

• Electronics

What is the main reason people are spending more on travel and rentals post-lockdown?

• Lower prices

• Desire to escape lockdowns

• Government incentives

• Increased savings