appened to the first max levchin: varying degrees of hope crushing failure.he one before paypal was almost not quite dead. emily: how did paypal get started? max levchin: it was really hot. pretty brutal. i would go to stanford and sneak into summer lectures. i snuck into one because i recognized the name of the guy doing the guest lecture. he was doing a lecture on currency trading. it turned out to be a really small class. i just chatted him up afterwards. was definitely not there to learn about currency trading, i was there to sleep and get air-conditioning. he was a really smart guy. he said, i'm going to start a company. i said, we should have breakfast. how about tomorrow morning? and he had the red white and blue shape. we talked about companies. emily: the paypal story is sort of long and legend. looking back, was selling at the right thing? max levchin: the team was very tired. probably the right call. on the emotional front of was very difficult. on the business front, the right thing. emily: what was difficult? max levchin: it was your baby. this g