>Because of incumbent banks’ endless surcharges, late fees and other abuses, “there’s room for a product by young people for young people,” Levchin, 39, said in

>Because of incumbent banks’ endless surcharges, late fees and other abuses, “there’s room for a product by young people for young people,” Levchin, 39, said in a phone interview this week. “That’s what Silicon Valley’s good for, and that’s what we’re doing.” Levchin is not young, so I guess his startup is DOA.