Max Levchin was ten years old and living 90 miles away from Chernobyl when the worst-ever nuclear disaster happened. His mother understood the danger and sent him to live with his grandmother, eventually moving the family to Chicago five years later.
It was an adjustment. "Part of the experience coming to the U.S. from a socialist country is that I just wasn’t prepared for a lot of the things . . I got my first credit card a couple years after coming to America and promptly destroyed my credit . . ."
His tells this part of his story because it directly relates to what he does for a living. Now 45, he is CEO of the company he co-founded, Affirm Holdings. It went public in January, the stock doubled in value, and his stake in it is worth $2.5 billion. So he's a billionaire.
Conventional wisdom says that millennials hate credit cards. But Max and his partners figured out that they still want to "buy now, pay later." So he gives them options.
(cont'd tomorrow)
from Forbes
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