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jerryking : affirm   2

Max Levchin of Affirm: Seeking the Endurance Athletes of Business - The New York Times
By ADAM BRYANT DEC. 9, 2016

one thing I have found over the years is that in hiring, the dominant characteristic I select for is this sense of perseverance in really tough situations. It’s like the difference between endurance athletes and sprinters. I think it is a really good predictor for how people behave under severe stress.

Working in a start-up means there is a baseline of stress with occasional spikes. There are people who are really good at handling spikes. In fact, most people are really good at handling spikes. But normal isn’t normal. There is constant stress. And so I look for endurance athletes, in the business sense.

And how do you test for that?

I ask about the longest stressful episode in your professional career. A lot of people talk about some all-nighter. Then I’ll say, “No, that may have been the highest stress moment, but what’s the longest period of stress you faced?”
Max_Levchin  endurance  Affirm  fin-tech  start_ups  entrepreneur  stressful  perseverance 
december 2016 by jerryking
Banking Start-Ups Adopt New Tools for Lending
JAN. 18, 2015 | - NYTimes.com | By STEVE LOHR.

When bankers of the future decide whether to make a loan, they may look to see if potential customers use only capital letters when filling out forms, or at the amount of time they spend online reading terms and conditions — and not so much at credit history.

These signals about behavior — picked up by sophisticated software that can scan thousands of pieces of data about online and offline lives — are the focus of a handful of start-ups that are creating new models of lending....Earnest uses the new tools to make personal loans. Affirm, another start-up, offers alternatives to credit cards for online purchases. And another, ZestFinance, has focused on the relative niche market of payday loans.
Steve_Lohr  tools  banking  banks  massive_data_sets  start_ups  data_scientists  Earnest  Affirm  ZestFinance  Max_Levchin  consumer_finance  credit_scoring  fin-tech  financial_services  consumer_behavior  signals 
january 2015 by jerryking

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