Max Levchin’s latest project is called HVF — Hard, Valuable Fun. He described it onstage at a conference in Munich today, being careful to note that while it may look like an incubator, it is not. It sounds more akin to the sort of startup factory model pioneered by Betaworks. And while is does focus on manipulating huge stores of data, do not call it a “big data” project. “Many, if not most, of today’s big data companies are focused on problems that aren’t big enough,” he said. [Source: TNW]