WEBVTT - Affirm CEO Max Levchin Talks Ambitious Path 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. There's been plenty of

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<v Speaker 1>announcements coming out about Agentic commerce and international expansion from

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<v Speaker 1>a firm it's just been reporting yesterday at the company's

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<v Speaker 1>twenty twenty six investor forum, the fintech company is laying

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<v Speaker 1>out a bold roadmap to one hundred million dollars in

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<v Speaker 1>annual volume. Look, CEO Max left and plans to say,

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<v Speaker 1>joins us in New York and I'm sad I'm not

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<v Speaker 1>their next to you, Max, but tell us about what

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<v Speaker 1>you're in a I know too far, but I'm interested

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<v Speaker 1>in what you told the investors, the analyst community in

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<v Speaker 1>New York yesterday and for the next few days. How

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<v Speaker 1>do you get to that sort of volume? Where are

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<v Speaker 1>the growth factors?

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<v Speaker 2>You know? The exciting thing is that literally everything we

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<v Speaker 2>have been working towards is coming together and working incredibly well.

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<v Speaker 2>We held a similar event three years ago and promised

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<v Speaker 2>investors will get to fifty billion dollars of gross merchandise volume,

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<v Speaker 2>our merchant sales that we power, and we will do

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<v Speaker 2>so by maintaining while maintaining our profit margins within three

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<v Speaker 2>and four percent, will grow at twenty percent per year

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<v Speaker 2>or so that that was the story we told them

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<v Speaker 2>three years ago. We've now come back. We're now basically

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<v Speaker 2>that fifty billion dollar mark. You would expect us to

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<v Speaker 2>slow down, but instead we told our investor based yesterday,

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<v Speaker 2>we expect to grow twenty five percent compounding, so five

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<v Speaker 2>points extra, and we intend to up the floor of

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<v Speaker 2>our profitability from three to three point seventy five percent.

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<v Speaker 2>So not only are we growing faster, not only are

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<v Speaker 2>we reaching more consumers, more merchants, we intend to do

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<v Speaker 2>this more profitably, and we feel it's just getting better

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<v Speaker 2>and better for us. So that that's the that's the headline.

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<v Speaker 2>And you know, I had a lot of conversations yesterday

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<v Speaker 2>that seem to indicate that our investor is quite enjoying

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<v Speaker 2>the news.

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<v Speaker 3>Mac Max just very simply, why is a one hundred

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<v Speaker 3>billion dollar volume target the right target? The right metric?

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<v Speaker 3>When people try and understand a firm like you come

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<v Speaker 3>the show often and we talk about the different offerings

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<v Speaker 3>and some of the newer products that you're doing, this

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<v Speaker 3>kind of north star or achievable goal. Probably to your mind,

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<v Speaker 3>it's really interesting that you've set that as it you know.

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<v Speaker 2>It is just a waypoint we have absolutely no intention

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<v Speaker 2>of slowing down or stopping at one hundred is just

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<v Speaker 2>another nice round number that we can set our sites to.

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<v Speaker 2>But we do see an incredible market pull consumers already,

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<v Speaker 2>they are coming to us. We are now seeing inbounds

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<v Speaker 2>from consumers that have didn't discover us at the point

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<v Speaker 2>of sale, which is the usual way, just signing up

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<v Speaker 2>for firm, asking us to send them a card so

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<v Speaker 2>they can transact everywhere. That's been a huge poll that's

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<v Speaker 2>contributed to our growth tremendously. Merchants come to us saying

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<v Speaker 2>I've seen your logo on my competitor sites. I know

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<v Speaker 2>you're driving ten twenty percent more sales for them. You

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<v Speaker 2>should do the same for us. Let us sign up,

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<v Speaker 2>you should promote our sales events, tell us merchants in

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<v Speaker 2>your app, because we're now reaching fifteen million monthly consumers

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<v Speaker 2>and so on. So just the tremendous amount of we're

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<v Speaker 2>finally a real scalable thing that every constitution cares about

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<v Speaker 2>a lot is what gives us the confidence to go

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<v Speaker 2>towards this new mouthstone and.

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<v Speaker 1>Amos liked it, like obviously talking about the pending Industrial

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<v Speaker 1>Bank chat, so that could be another strength area than

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<v Speaker 1>the fact that you've got competitive advantage. But take us

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<v Speaker 1>to the future and the agentic commerce and future. Because

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<v Speaker 1>we talk about a lot on the show and you

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<v Speaker 1>are already doing deals with Google. What does that look

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<v Speaker 1>like in terms of how I'm going to be having

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<v Speaker 1>a relationship with a firm going forward.

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<v Speaker 2>I think it's going to be incredible. I cannot be

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<v Speaker 2>more excited about this new AI powered future in many

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<v Speaker 2>different pathsts as an engineer, as a coder, I love

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<v Speaker 2>what we have today. As a consumer, as a buyer

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<v Speaker 2>of complicated things, I love the help that AI provides

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<v Speaker 2>me when I research the finer points of you know,

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<v Speaker 2>whatever it is that I'm the matter now. A firm

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<v Speaker 2>is a great tool of buying things that are meaningful

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<v Speaker 2>that when it matters, that's when consumers come to us.

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<v Speaker 2>They want anything from a bicycle to a couch to

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<v Speaker 2>an espresso machine. During those moments, you want to know

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<v Speaker 2>that the financing choice you're making has your back, that

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<v Speaker 2>you're not going to get hit with some unexpected fees.

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<v Speaker 2>You know exactly when you're going to start and stop

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<v Speaker 2>with your payments. That's what we've built and agents just

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<v Speaker 2>make it that much easier to bring to the end

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<v Speaker 2>consumer and the brand we've built allows people to trust us.

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<v Speaker 2>The fact that we're able to partner with LM providers

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<v Speaker 2>allows us to be right there when consumers are searching

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<v Speaker 2>and doing the research. So it's just an incredible incremental

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<v Speaker 2>growth engine that we found.

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<v Speaker 3>Max here again emphasizing the word built. You do that often.

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<v Speaker 3>But how does quickly, Max left Chin think about M

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<v Speaker 3>and A in a firm's future.

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<v Speaker 2>You know, we've looked for years. We haven't found anything

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<v Speaker 2>in the last few so never say never. But we

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<v Speaker 2>have so much to do just with a team that

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<v Speaker 2>we have. It's you know, when opportunities to come up, well,

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<v Speaker 2>of course, look at them, but we're very focused on

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<v Speaker 2>building affirms.

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<v Speaker 3>Here, Max Leftchin back on bloom Bag Tech. Thank you

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<v Speaker 3>very much for your time.