coming up, we are talking to max levchin.e will tell us about his next big thing. ♪ >> welcome back to "bloomberg west." a firm launched by max levchin has announced $35 million in funding today. what is it actually and how will they use this money? you have been in stealth for the past couple of years. >> the long-term plan is to revolutionize paying for purchase at the online point of sale, and splitting them into several installments. if you do not trust your credit card, if you kind of know but can calculate that it is too high, he can make it simple for you. we can split it into payments, and make it transparent and honest. >> you already have partnerships with retailers. do i have to fill out applications? >> you fill in just a couple of recent information that basic pieces of information. in less than a second we can tell you we will take the risk and we will stand behind the transaction. no complicated approval, no access to this store and filling out a credit card application. >> you have to get the payment to the pl

takell get max levchin's on wearables.s, it has been dubbed the world toughest drone. ♪ . . >> you are watching a special edition of "bloomberg west is quote where we cover innovation, technology, and the future of is this. we are live from cobol a point in sausalito for bloomberg's next big thing summit and we are talking right now about health in healthnnovation and fitness tracking devices will sub joining me is our editor at large, cory johnson. >> i am well trackable. if mr. dysoning if beat you? he joins us now along with max levchin. can you explain what you are wearing on your west -- on your wrist? >> i'm focused on health to avoid health care. this is the nike band. >> i'm not wearing my heart rate monitor today. band will be discontinued, but the business lives on. misfit wearables which max is involved with. you can wear it while you are swimming which is why i like it. whichy, this is the basis says low memory. >> is that your memory? >> i'm doing so much stuff. it is owned by intel. >> how does it help you? >

to -- max levchin, stay with us.'t go away. ♪ >> you are watching a special edition of "bloomberg west" where recover innovation, and the future of technology. i'm emily chang. we are in sausalito and talking about health care and innovation in health and fitness tracking devices. joining the our editor at large cory johnson, and abbott fitness tracking -- >> yes, i'm well tracked. dyson with us now. also, max luncheon -- max levc hin. what are you wearing on your wrist? >> i am focused on health. this is a nike go band. >> i'm down to one device. the nike band will be discontinued, but the business goes on. from misfite wearables, which max is involved with. and another for when you sleep. and finally, this is the basis, which have low memory. >> is that your memory that is low? or the watch? >> i'm doing so much stuff, i cannot keep up with it all. >> to does it help you? be candid, i'm already a fitness nut. one of the issues around these things is, how much difference do they make to the middle? insurance company