Max Levchin

Co-Founder of Paypal, Chairman of Yelp, CEO of Affirm

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Recommended by Max Levchin

Structure and Interpretation of Computer Programs: JavaScript Edition (MIT Electrical Engineering and Computer Science) book cover

by Martin Henz, Tobias Wrigstad, Harold Abelson, Gerald Jay Sussman, Julie Sussman·You?

A new version of the classic and widely used text adapted for the JavaScript programming language. Since the publication of its first edition in 1984 and its second edition in 1996, Structure and Interpretation of Computer Programs (SICP) has influenced computer science curricula around the world. Widely adopted as a textbook, the book has its origins in a popular entry-level computer science course taught by Harold Abelson and Gerald Jay Sussman at MIT. SICP introduces the reader to central ideas of computation by establishing a series of mental models for computation. Earlier editions used the programming language Scheme in their program examples. This new version of the second edition has been adapted for JavaScript. The first three chapters of SICP cover programming concepts that are common to all modern high-level programming languages. Chapters four and five, which used Scheme to formulate language processors for Scheme, required significant revision. Chapter four offers new material, in particular an introduction to the notion of program parsing. The evaluator and compiler in chapter five introduce a subtle stack discipline to support return statements (a prominent feature of statement-oriented languages) without sacrificing tail recursion. The JavaScript programs included in the book run in any implementation of the language that complies with the ECMAScript 2020 specification, using the JavaScript package sicp provided by the MIT Press website.

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Recommended by Max Levchin

The Master and Margarita book cover

by Mikhail Bulgakov, Diana Burgin, Katherine Tiernan O'Connor·You?

The underground masterpiece of twentieth-century Russian fiction, this classic novel was written during Stalin’s regime and could not be published until many years after its author’s death. When the devil arrives in 1930s Moscow, consorting with a retinue of odd associates—including a talking black cat, an assassin, and a beautiful naked witch—his antics wreak havoc among the literary elite of the world capital of atheism. Meanwhile, the Master, author of an unpublished novel about Jesus and Pontius Pilate, languishes in despair in a pyschiatric hospital, while his devoted lover, Margarita, decides to sell her soul to save him. As Bulgakov’s dazzlingly exuberant narrative weaves back and forth between Moscow and ancient Jerusalem, studded with scenes ranging from a giddy Satanic ball to the murder of Judas in Gethsemane, Margarita’s enduring love for the Master joins the strands of plot across space and time.

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The widely adopted, now classic book on influence and persuasion—a major national and international bestseller with more than four million copies sold! In this highly acclaimed New York Times bestseller, Dr. Robert B. Cialdini—the seminal expert in the field of influence and persuasion—explains the psychology of why people say yes and how to apply these principles ethically in business and everyday situations. You’ll learn the six universal principles of influence and how to use them to become a skilled persuader—and, just as importantly, how to defend yourself against dishonest influence attempts: Reciprocation: The internal pull to repay what another person has provided us.Commitment and Consistency: Once we make a choice or take a stand, we work to behave consistently with that commitment in order to justify our decisions.Social Proof: When we are unsure, we look to similar others to provide us with the correct actions to take. And the more, people undertaking that action, the more we consider that action correct.Liking: The propensity to agree with people we like and, just as important, the propensity for others to agree with us, if we like them.Authority: We are more likely to say “yes” to others who are authorities, who carry greater knowledge, experience or expertise.Scarcity: We want more of what is less available or dwindling in availability.Understanding and applying the six principles ethically is cost-free and deceptively easy. Backed by Dr. Cialdini’s 35 years of evidence-based, peer-reviewed scientific research—as well as by a three-year field study on what moves people to change behavior—Influence is a comprehensive guide to using these principles effectively to amplify your ability to change the behavior of others.

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Recommended by Max Levchin

The groundbreaking bestseller from iconic behavioral psychologist Dan Ariely, now the inspiration for the Fall 2023 NBC show The Irrational "A marvelous book… thought provoking and highly entertaining." —Jerome Groopman, New York Times bestselling author of How Doctors Think "Ariely not only gives us a great read; he also makes us much wiser." —George Akerlof, 2001 Nobel Laureate in Economics "Revolutionary." —New York Times Book Review Why do our headaches persist after we take a one-cent aspirin but disappear when we take a fifty-cent aspirin? Why do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup? When it comes to making decisions in our lives, we think we're making smart, rational choices. But are we? In this newly revised and expanded edition of the groundbreaking New York Times bestseller, Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They're systematic and predictable—making us predictably irrational.

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John Meriwether, a famously successful Wall Street trader, spent the 1980s as a partner at Salomon Brothers, establishing the best--and the brainiest--bond arbitrage group in the world. A mysterious and shy midwesterner, he knitted together a group of Ph.D.-certified arbitrageurs who rewarded him with filial devotion and fabulous profits. Then, in 1991, in the wake of a scandal involving one of his traders, Meriwether abruptly resigned. For two years, his fiercely loyal team--convinced that the chief had been unfairly victimized--plotted their boss's return. Then, in 1993, Meriwether made a historic offer. He gathered together his former disciples and a handful of supereconomists from academia and proposed that they become partners in a new hedge fund different from any Wall Street had ever seen. And so Long-Term Capital Management was born. In a decade that had seen the longest and most rewarding bull market in history, hedge funds were the ne plus ultra of investments: discreet, private clubs limited to those rich enough to pony up millions. They promised that the investors' money would be placed in a variety of trades simultaneously--a "hedging" strategy designed to minimize the possibility of loss. At Long-Term, Meriwether & Co. truly believed that their finely tuned computer models had tamed the genie of risk, and would allow them to bet on the future with near mathematical certainty. And thanks to their cast--which included a pair of future Nobel Prize winners--investors believed them. From the moment Long-Term opened their offices in posh Greenwich, Connecticut, miles from the pandemonium of Wall Street, it was clear that this would be a hedge fund apart from all others. Though they viewed the big Wall Street investment banks with disdain, so great was Long-Term's aura that these very banks lined up to provide the firm with financing, and on the very sweetest of terms. So self-certain were Long-Term's traders that they borrowed with little concern about the leverage. At first, Long-Term's models stayed on script, and this new gold standard in hedge funds boasted such incredible returns that private investors and even central banks clamored to invest more money. It seemed the geniuses in Greenwich couldn't lose. Four years later, when a default in Russia set off a global storm that Long-Term's models hadn't anticipated, its supposedly safe portfolios imploded. In five weeks, the professors went from mega-rich geniuses to discredited failures. With the firm about to go under, its staggering $100 billion balance sheet threatened to drag down markets around the world. At the eleventh hour, fearing that the financial system of the world was in peril, the Federal Reserve Bank hastily summoned Wall Street's leading banks to underwrite a bailout. Roger Lowenstein, the bestselling author of Buffett, captures Long-Term's roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money, but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late-nineties culture of Wall Street that made it all possible. When Genius Failed is the cautionary financial tale of our time, the gripping saga of what happened when an elite group of investors believed they could actually deconstruct risk and use virtually limitless leverage to create limitless wealth. In Roger Lowenstein's hands, it is a brilliant tale peppered with fast money, vivid characters, and high drama.

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Recommended by Max Levchin

A richly original look at the origins of money and how it makes the world go around Niall Ferguson follows the money to tell the human story behind the evolution of our financial system, from its genesis in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. What's more, Ferguson reveals financial history as the essential backstory behind all history, arguing that the evolution of credit and debt was as important as any technological innovation in the rise of civilization. As Ferguson traces the crisis from ancient Egypt's Memphis to today's Chongqing, he offers bold and compelling new insights into the rise? and fall of not just money but Western power as well.

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A real-life thriller about the most tumultuous period in America’s financial history by an acclaimed New York Times Reporter Andrew Ross Sorkin delivers the first true behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy. “We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world’s financial system would experience. Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing never disclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This true story is not just a look at banks that were “too big to fail,” it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail.

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Recommended by Max Levchin

Built To Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the very beginning. But what about companies that are not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? Are there those that convert long-term mediocrity or worse into long-term superiority? If so, what are the distinguishing characteristics that cause a company to go from good to great? Over five years, Jim Collins and his research team have analyzed the histories of 28 companies, discovering why some companies make the leap and others don't. The findings include: Level 5 Leadership: A surprising style, required for greatness.The Hedgehog Concept: Finding your three circles, to transcend the curse of competence.A Culture of Discipline: The alchemy of great results.Technology Accelerators: How good-to-great companies think differently about technology.The Flywheel and the Doom Loop: Why those who do frequent restructuring fail to make the leap.

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Recommended by Max Levchin

Ben Horowitz, cofounder of Andreessen Horowitz and one of Silicon Valley's most respected and experienced entrepreneurs, offers essential advice on building and running a startup—practical wisdom for managing the toughest problems business school doesn’t cover, based on his popular ben’s blog. While many people talk about how great it is to start a business, very few are honest about how difficult it is to run one. Ben Horowitz analyzes the problems that confront leaders every day, sharing the insights he’s gained developing, managing, selling, buying, investing in, and supervising technology companies. A lifelong rap fanatic, he amplifies business lessons with lyrics from his favorite songs, telling it straight about everything from firing friends to poaching competitors, cultivating and sustaining a CEO mentality to knowing the right time to cash in. Filled with his trademark humor and straight talk, The Hard Thing About Hard Things is invaluable for veteran entrepreneurs as well as those aspiring to their own new ventures, drawing from Horowitz's personal and often humbling experiences.

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Recommended by Max Levchin

Peter Thiel is the co-founder of PayPal and the first outside investor in Facebook. In the Spring of 2012, he gave a lecture course at Stanford for software engineers, calling on them to think boldly and broadly about how they might use their skills to shape the future, and imparting the lessons he has gleaned from his own experience. One of the students in that class - Blake Masters - took notes and posted them online. The blog posts became a huge success, with hundreds of thousands of hits, and became the basis for Zero to One. We live in an age of technological stagnation, even if we're too distracted by our new mobile devices to notice. Progress has stalled in every industry except computers, and globalization is hardly the revolution people think it is. It's true that the world can get marginally richer by building new copies of old inventions, making horizontal progress from '1 to n'. But true innovators have nothing to copy. The most valuable companies of the future will make vertical progress from '0 to 1', creating entirely new industries and products that have never existed before. Zero to One is about how to build these companies. A business book that also provides insight into the world of start-ups from a Silicon Valley icon, Thiel shows how to pursue your goals using the most important, most difficult, and most underrated skill in every job or industry: thinking for yourself.