Max Levchin’s War on Credit Cards

Because of the digital divide they’ve created? Because of algorithms treating people differently? Because of data-gathering practices? 

It’s a combination of everything. But 10 years ago, I think even trillion-dollar companies were perceived as going to elevate a whole generation of people, and make everything cheaper and more efficient and easier. Then 10 years later, the US as a country is less productive. All of this tech was supposed to make us more productive, but it didn’t. So we’re earning, on an inflation-adjusted basis, a lot less. And yet you have people running around with incredible net worths and valuations of companies that are still very, very, very high. 

I think, in a world

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