Hot Take: AI Raises the World's Net IQ

Max Levchin, Co-Founder of PayPal and CEO of Affirm, joins Sourcery for a wide-ranging conversation on building companies, surviving failure, and navigating one of the most important economic shifts in decades.

We start inside Affirm HQ (with a masterclass in espresso) before getting into the story behind onboarding 800,000 Shopify merchants in a week, the lessons from PayPal that still apply today, and why the team is the single biggest determinant of success. Max also breaks down how AI is collapsing the cost and speed of building software — fundamentally reshaping company formation, competition, and the balance between labor and capital.

As intelligence becomes more accessible, he explains why weaker, more “scammy” companies will struggle to survive in a world where both consumers and builders are more informed — raising the overall bar for quality, execution, and truth. In parallel, the widespread availability of AI tools may effectively increase baseline capability across the population, shifting what it means to be skilled, technical, and competitive.

From reading research papers daily to staying ahead of rapid innovation cycles, he explains why this moment in AI may be even more consequential than the internet or mobile — and what it takes to build and lead in it.

This was recorded March 30, 2026.

Topics include:

• Building Affirm & scaling under pressure

• PayPal lessons & talent density

• Why ~85% of startups fail

• AI and the collapse of build costs

• Why low-quality / scammy companies will get exposed faster

• AI raising the baseline capability of builders

• Fintech, credit, and changing consumer behavior

  
  

Max Levchin: https://x.com/mlevchin

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

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