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20 years ago, every founder feared one tech company: Google. Even when Patrick Collison (CEO of Stripe) was building a startup back then, he got the same question in every meeting: "What if Google does this ?" But the truth is, Google still didn't build most of what people...

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GeniusThinking

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The biggest startup advice (The Lean Startup Method) you've been following is broken. 1) Launch something small and cheap 2) Win one narrow group of users 3) Grow outward slowly Patrick Collison (CEO of Stripe) says it was only relevant 20 years ago, for two reasons he names: A) Raising money back then was genuinely hard B) And nothing let you spin up a company able to do many things at once But today, AI removed both limits. Which is why he thinks you can now start something far more ambitious on day one. Look at who actually won the last decade. The AI labs. Anduril, the defence company. So many of them did the opposite of lean. If your plan feels too small, check whose advice you're following. — Patrick Collison (.Patrick Collison), founder of Stripe, at Y Combinator's startup school
1:25

The biggest startup advice (The Lean Startup Method) you've been following is broken. 1) Launch something small and cheap 2) Win one narrow group of users 3) Grow outward slowly Patrick Collison (CEO of Stripe) says it was only relevant 20 years ago, for two reasons he names: A) Raising money back then was genuinely hard B) And nothing let you spin up a company able to do many things at once But today, AI removed both limits. Which is why he thinks you can now start something far more ambitious on day one. Look at who actually won the last decade. The AI labs. Anduril, the defence company. So many of them did the opposite of lean. If your plan feels too small, check whose advice you're following. — Patrick Collison (.Patrick Collison), founder of Stripe, at Y Combinator's startup school

GeniusThinking

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In 2009, Patrick Collison and John Collison went to Startup School in Berkeley, got sushi in Potrero Hill afterward, and decided on the walk home to start Stripe. The reasoning, as Patrick remembers it, was that “we might as well because it probably won’t be that hard.” It took them two years to launch. Seventeen years later, at Startup School 2026, he talks with YC's Harj Taggar about dropping out of MIT twice, why founders should ask what happens if they succeed, and what Stripe’s own data says about the best time to start a company. 00:07 — What Should You Still Learn in the Age of AI? 02:01 — Knowledge Still Matters 05:12 — Should You Drop Out of College? 09:58 — Why Stripe Worked 12:10 — Building Stripe Before Launching 17:20 — Is the Lean Startup Still the Right Playbook? 19:07 — The Hidden Reward of Building Stripe 22:36 — Will AI Kill Your Startup? 25:17 — Why It's Never Been a Better Time to Start a Company 29:23 — What Stripe's Data Says About the AI Economy 30:45 — Build Something People Truly Need
30:59

In 2009, Patrick Collison and John Collison went to Startup School in Berkeley, got sushi in Potrero Hill afterward, and decided on the walk home to start Stripe. The reasoning, as Patrick remembers it, was that “we might as well because it probably won’t be that hard.” It took them two years to launch. Seventeen years later, at Startup School 2026, he talks with YC's Harj Taggar about dropping out of MIT twice, why founders should ask what happens if they succeed, and what Stripe’s own data says about the best time to start a company. 00:07 — What Should You Still Learn in the Age of AI? 02:01 — Knowledge Still Matters 05:12 — Should You Drop Out of College? 09:58 — Why Stripe Worked 12:10 — Building Stripe Before Launching 17:20 — Is the Lean Startup Still the Right Playbook? 19:07 — The Hidden Reward of Building Stripe 22:36 — Will AI Kill Your Startup? 25:17 — Why It's Never Been a Better Time to Start a Company 29:23 — What Stripe's Data Says About the AI Economy 30:45 — Build Something People Truly Need

Y Combinator

57,906 Aufrufe • vor 8 Tagen

Flexport CEO Ryan Petersen still thinks about a 2012 essay written by Paul Graham called 'Schlep Blindness.' Every startup founder of a certain era of went through the misery of applying to accept credit card payments. But only Patrick and John Collison (Patrick Collison and John Collison) started Stripe. "There was a $100 billion opportunity available to every entrepreneur," says Petersen. "The worst problems in your life, your conscious brain is unable to focus, to think about them at all. You're just completely blind that this problem exists." More recently, Petersen (Ryan Petersen) says that PG (Paul Graham) has described his company, Flexport, the same way. "Anyone who ever imported anything wen through this pain, saw it's a nightmare to fill out paperwork, and no one call tell you where your stuff is, or when it's going to arrive." Catch the full discussion on The Upstarts Podcast 👇 YouTube: Spotify: Apple:
1:30

Flexport CEO Ryan Petersen still thinks about a 2012 essay written by Paul Graham called 'Schlep Blindness.' Every startup founder of a certain era of went through the misery of applying to accept credit card payments. But only Patrick and John Collison (Patrick Collison and John Collison) started Stripe. "There was a $100 billion opportunity available to every entrepreneur," says Petersen. "The worst problems in your life, your conscious brain is unable to focus, to think about them at all. You're just completely blind that this problem exists." More recently, Petersen (Ryan Petersen) says that PG (Paul Graham) has described his company, Flexport, the same way. "Anyone who ever imported anything wen through this pain, saw it's a nightmare to fill out paperwork, and no one call tell you where your stuff is, or when it's going to arrive." Catch the full discussion on The Upstarts Podcast 👇 YouTube: Spotify: Apple:

Alex Konrad

69,560 Aufrufe • vor 5 Monaten

Jack Zhang on why he said no to Stripe’s $1.2 billion offer to buy Airwallex “In October 2018, Stripe reached out to buy us,” Airwallex co-founder Jack Zhang (Jack Zhang) begins. Patrick Collison flew out to Shanghai to meet Jack and his co-founder, and they spent the day together. After the meeting, Patrick sent over a Google Doc that was 10-20 pages long and asked Jack to make comments. “I was like, ‘Wow, the vision of the companies over the next decade is very much the same.’ We both wanted to build the AWS of financial services, and obviously Stripe was much further ahead of us. But this was before COVID. Stripe was like a $9 billion company — very similar to the scale of Airwallex today. I also really liked Patrick. It was like this guy is so smart.” Asked what makes Patrick Collison so smart, Jack replies: “He’s intellectually honest about everything, and he’s able to go deep in multiple dimensions.” Eventually Stripe offered $1.2 billion for Airwallex, and according to Jack, he and his co-founders would’ve walked away with $350 million. “I met with the whole team, and I was really impressed,” Jack recalls. “I basically said I think we’re going to do it.” But when he flew back to Melbourne, Jack decided against it. And it was actually Patrick Collison who inspired him to reject the offer. Jack explains: “So one of the things that really inspired me from talking and spending time with Patrick was I asked, ‘What’s the long-term thing for Stripe and yourself? Are you going to be here forever?’ And Patrick said to me that he’s going to build Stripe for the next 20-40 years. And I just never heard a founder tell me they will dedicate their entire life to building a business. And so that was inspiring to me, and I’m like that’s what I want to do.” Today, Airwallex (Airwallex) is an $8B company, with more than $1B in ARR. Video source: The Twenty Minute VC Harry Stebbings (2025)
2:25

Jack Zhang on why he said no to Stripe’s $1.2 billion offer to buy Airwallex “In October 2018, Stripe reached out to buy us,” Airwallex co-founder Jack Zhang (Jack Zhang) begins. Patrick Collison flew out to Shanghai to meet Jack and his co-founder, and they spent the day together. After the meeting, Patrick sent over a Google Doc that was 10-20 pages long and asked Jack to make comments. “I was like, ‘Wow, the vision of the companies over the next decade is very much the same.’ We both wanted to build the AWS of financial services, and obviously Stripe was much further ahead of us. But this was before COVID. Stripe was like a $9 billion company — very similar to the scale of Airwallex today. I also really liked Patrick. It was like this guy is so smart.” Asked what makes Patrick Collison so smart, Jack replies: “He’s intellectually honest about everything, and he’s able to go deep in multiple dimensions.” Eventually Stripe offered $1.2 billion for Airwallex, and according to Jack, he and his co-founders would’ve walked away with $350 million. “I met with the whole team, and I was really impressed,” Jack recalls. “I basically said I think we’re going to do it.” But when he flew back to Melbourne, Jack decided against it. And it was actually Patrick Collison who inspired him to reject the offer. Jack explains: “So one of the things that really inspired me from talking and spending time with Patrick was I asked, ‘What’s the long-term thing for Stripe and yourself? Are you going to be here forever?’ And Patrick said to me that he’s going to build Stripe for the next 20-40 years. And I just never heard a founder tell me they will dedicate their entire life to building a business. And so that was inspiring to me, and I’m like that’s what I want to do.” Today, Airwallex (Airwallex) is an $8B company, with more than $1B in ARR. Video source: The Twenty Minute VC Harry Stebbings (2025)

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Patrick Collison, CEO of Stripe, on whether now is actually a good time to start a company: "You might think, okay, fine... there's way more vibe-coded, kind of lightweight slop, whatever... but actually the median business is doing better this year than a year ago." "By all the kind of objective metrics we can look at, it seems to be a better time than ever to start a business."
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Patrick Collison, CEO of Stripe, on whether now is actually a good time to start a company: "You might think, okay, fine... there's way more vibe-coded, kind of lightweight slop, whatever... but actually the median business is doing better this year than a year ago." "By all the kind of objective metrics we can look at, it seems to be a better time than ever to start a business."

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11/ This is not a small problem. Stripe handles more than a trillion dollars in payments every year. Millions of businesses rely on their tech. If they can put a “hold” on my money for no reason, they can do it to anyone. Is that the plan Patrick Collison?
13:24

11/ This is not a small problem. Stripe handles more than a trillion dollars in payments every year. Millions of businesses rely on their tech. If they can put a “hold” on my money for no reason, they can do it to anyone. Is that the plan Patrick Collison?

Michael Knowles

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Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful… I’ll be much less happy. The world’s just uglier than it needs to be.” Patrick believes that the impact of beauty and craftsmanship are higher than people think. And not just for aesthetic reasons — it’s rational for customers to buy beautiful products. “What does a beautiful thing tell you?” Patrick asks. “It tells you the person who made it really cared." Source: Million Stories Media (Mar 2024)
1:15

Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful… I’ll be much less happy. The world’s just uglier than it needs to be.” Patrick believes that the impact of beauty and craftsmanship are higher than people think. And not just for aesthetic reasons — it’s rational for customers to buy beautiful products. “What does a beautiful thing tell you?” Patrick asks. “It tells you the person who made it really cared." Source: Million Stories Media (Mar 2024)

Startup Archive

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Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful… I’ll be much less happy. The world’s just uglier than it needs to be.” Patrick believes that the impact of beauty and craftsmanship are higher than people think. And not just for aesthetic reasons — it’s rational for customers to buy beautiful products. “What does a beautiful thing tell you?” Patrick asks. “It tells you the person who made it really cared." Video source: Million Stories Media (2024)
1:15

Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful… I’ll be much less happy. The world’s just uglier than it needs to be.” Patrick believes that the impact of beauty and craftsmanship are higher than people think. And not just for aesthetic reasons — it’s rational for customers to buy beautiful products. “What does a beautiful thing tell you?” Patrick asks. “It tells you the person who made it really cared." Video source: Million Stories Media (2024)

Startup Archive

101,518 Aufrufe • vor 1 Jahr

The founders of Stripe and Pinterest on how to convince people to join your startup Stripe CEO Patrick Collison argues that part of the reason startups resonate so much is because the outcome is not guaranteed: "If it were guaranteed, it would be boring... Whether or not you're the best person in the world at what you do, you're probably not going to alter Google's trajectory. But if you really want to benchmark yourself and see how much of a contribution and impact you can make--which is a really compelling prospect for a lot of the best people--a startup is a much better place to test that." Pinterest founder Ben Silbermann emphasized this as well: "No smart person that you're hiring is under the illusion that you have a crystal ball into the future and that joining is a guaranteed thing. In fact, if you're telling them that and they select in, you shouldn't hire them because they didn't pass a basic intelligence test. I think it's important to tell them what's exciting and where you think the company can go. But also tell them where it will be hard and chart your best plan. And then tell them why their role can be instrumental--because it will be... What I would discourage doing is whitewashing all of that. If people are joining your company because they want all of the certainty and safety of working at Google but also the perks of working at a small startup with lots of responsibility and transparency, that's a really negative sign." Apparently in the early days of PayPal, Peter Thiel and Max Levchin would tell people after they interviewed all the reasons that the company would fail: "Visa and MasterCard want to kill us. We also might be doing something that's illegal. But if we succeed, we'll redefine payments." Don't whitewash the risks. Instead tell them how your startup will change the world if you succeed and how their role will be instrumental in affecting that change. Video source: Y Combinator (2014)
3:25

The founders of Stripe and Pinterest on how to convince people to join your startup Stripe CEO Patrick Collison argues that part of the reason startups resonate so much is because the outcome is not guaranteed: "If it were guaranteed, it would be boring... Whether or not you're the best person in the world at what you do, you're probably not going to alter Google's trajectory. But if you really want to benchmark yourself and see how much of a contribution and impact you can make--which is a really compelling prospect for a lot of the best people--a startup is a much better place to test that." Pinterest founder Ben Silbermann emphasized this as well: "No smart person that you're hiring is under the illusion that you have a crystal ball into the future and that joining is a guaranteed thing. In fact, if you're telling them that and they select in, you shouldn't hire them because they didn't pass a basic intelligence test. I think it's important to tell them what's exciting and where you think the company can go. But also tell them where it will be hard and chart your best plan. And then tell them why their role can be instrumental--because it will be... What I would discourage doing is whitewashing all of that. If people are joining your company because they want all of the certainty and safety of working at Google but also the perks of working at a small startup with lots of responsibility and transparency, that's a really negative sign." Apparently in the early days of PayPal, Peter Thiel and Max Levchin would tell people after they interviewed all the reasons that the company would fail: "Visa and MasterCard want to kill us. We also might be doing something that's illegal. But if we succeed, we'll redefine payments." Don't whitewash the risks. Instead tell them how your startup will change the world if you succeed and how their role will be instrumental in affecting that change. Video source: Y Combinator (2014)

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Collison Brothers Explain Why Stripe is Better Off Staying Private John's (John Collison) take: " People generally make the argument that public companies run in a more disciplined fashion. I think that's hogwash." "If you need a 25-year old Fidelity analyst asking you to double click on your CapEx, blah, blah, blah, to run the company with discipline, something is horribly wrong at the company and you need new management." "It used to be the case that to do any return of capital to shareholders, or if you needed any kind of large sums of money, you needed the public markets." "That's obviously not true today, where stable private markets exist." " This is our life's work. We're not going anywhere. We'll be very happily running Stripe in 10 years time, in 20 years time." Patrick's (Patrick Collison) take: "We're a company at the intersection of financial services and technology. Being private for a long time is the norm." "What matters is less kind of the returns in a given year, and more duration. And so the question is, what enables the best compounding on a 10 year time horizon?" "And what's best for shareholders as you really take the longer-term perspective? And then what's best for customers?" " At this juncture, with the business growing at this rate, we want to spend the marginal hour with some customer."
1:02

Collison Brothers Explain Why Stripe is Better Off Staying Private John's (John Collison) take: " People generally make the argument that public companies run in a more disciplined fashion. I think that's hogwash." "If you need a 25-year old Fidelity analyst asking you to double click on your CapEx, blah, blah, blah, to run the company with discipline, something is horribly wrong at the company and you need new management." "It used to be the case that to do any return of capital to shareholders, or if you needed any kind of large sums of money, you needed the public markets." "That's obviously not true today, where stable private markets exist." " This is our life's work. We're not going anywhere. We'll be very happily running Stripe in 10 years time, in 20 years time." Patrick's (Patrick Collison) take: "We're a company at the intersection of financial services and technology. Being private for a long time is the norm." "What matters is less kind of the returns in a given year, and more duration. And so the question is, what enables the best compounding on a 10 year time horizon?" "And what's best for shareholders as you really take the longer-term perspective? And then what's best for customers?" " At this juncture, with the business growing at this rate, we want to spend the marginal hour with some customer."

The All-In Podcast

407,004 Aufrufe • vor 1 Jahr

Peter Thiel on the question he asks every startup founder he invests in “Why will the 20th talented person join your company when they can get paid way more at Google, they will have to work way less hard at Google, and it will look better on their resume to go to Google?” The 20th employee won’t get the equity or prestige that someone on the founding team will get, so there needs to be another incentive if you’re going to build a truly great company and attract the best people in the world. Thiel believes the best answer is something along the lines of: “This is the only place in the world where you can work on this incredibly important problem.” He continues: “It has to—on some dimension—be a really important problem that at least some people think is the most important problem in the world. Those are the kind of businesses that are unique, and when they work, they end up being leaders in their respective markets.” If it’s a problem that a bunch of other team are working on, it will be hard to attract a truly world-class employee #20.
1:21

Peter Thiel on the question he asks every startup founder he invests in “Why will the 20th talented person join your company when they can get paid way more at Google, they will have to work way less hard at Google, and it will look better on their resume to go to Google?” The 20th employee won’t get the equity or prestige that someone on the founding team will get, so there needs to be another incentive if you’re going to build a truly great company and attract the best people in the world. Thiel believes the best answer is something along the lines of: “This is the only place in the world where you can work on this incredibly important problem.” He continues: “It has to—on some dimension—be a really important problem that at least some people think is the most important problem in the world. Those are the kind of businesses that are unique, and when they work, they end up being leaders in their respective markets.” If it’s a problem that a bunch of other team are working on, it will be hard to attract a truly world-class employee #20.

Startup Archive

316,188 Aufrufe • vor 10 Monaten

Stripe CEO Patrick Collison shares the tactics he used for finding product/market fit “We tried very hard to understand in granular detail what exactly it was that people were doing, where they were tripping up and so on.” Patrick gives some examples of specific tactics: - A public chat room to provide support to people integrating Stripe - For the first 10 users of Stripe, every API request sent an email to the founders so they could better understand how users were using their product and see if users were doing anything weird - All errors generated a high-priority email to the founders. This created a pleasant user experience where 15 minutes after hitting an error, Patrick could reach out to them and let them know the issue was fixed “These are all kind of examples of a general pattern of trying to be hyper-attentive to all the micro details of what people were doing in the product and iterating rapidly in response to it. Generally speaking, I think pre-product/market fit metrics are actually relatively unhelpful because probably not that many people are using your product. If it’s 20 users, you can in some sense afford to just look at everything they’re doing to understand what’s working and what isn’t.” Another example of this Patrick gives is embedding a text input on each of their web pages with placeholder text prompting users to give them useful feedback(e.g. “The worst thing about Stripe is…”, “The worst thing about this page is…”, or “I really hate the way Stripe does…”). As Patrick explains: “At that stage, you have to be kind of masochistic. We’d always be waking up to all these emails telling us all the terrible things about Stripe. But that was a helpful to-do list for the day ahead." Source: Y Combinator (Oct 2018)
2:13

Stripe CEO Patrick Collison shares the tactics he used for finding product/market fit “We tried very hard to understand in granular detail what exactly it was that people were doing, where they were tripping up and so on.” Patrick gives some examples of specific tactics: - A public chat room to provide support to people integrating Stripe - For the first 10 users of Stripe, every API request sent an email to the founders so they could better understand how users were using their product and see if users were doing anything weird - All errors generated a high-priority email to the founders. This created a pleasant user experience where 15 minutes after hitting an error, Patrick could reach out to them and let them know the issue was fixed “These are all kind of examples of a general pattern of trying to be hyper-attentive to all the micro details of what people were doing in the product and iterating rapidly in response to it. Generally speaking, I think pre-product/market fit metrics are actually relatively unhelpful because probably not that many people are using your product. If it’s 20 users, you can in some sense afford to just look at everything they’re doing to understand what’s working and what isn’t.” Another example of this Patrick gives is embedding a text input on each of their web pages with placeholder text prompting users to give them useful feedback(e.g. “The worst thing about Stripe is…”, “The worst thing about this page is…”, or “I really hate the way Stripe does…”). As Patrick explains: “At that stage, you have to be kind of masochistic. We’d always be waking up to all these emails telling us all the terrible things about Stripe. But that was a helpful to-do list for the day ahead." Source: Y Combinator (Oct 2018)

Startup Archive

30,796 Aufrufe • vor 6 Tagen

Stripe CEO Patrick Collison shares the tactics he used for finding product/market fit “We tried very hard to understand in granular detail what exactly it was that people were doing, where they were tripping up and so on.” Patrick gives some examples of specific tactics: • A public chat room to provide support to people integrating Stripe • For the first 10 users of Stripe, every API request sent an email to the founders so they could better understand how users were using their product and see if users were doing anything weird • All errors generated a high-priority email to the founders. This created a pleasant user experience where 15 minutes after hitting an error, Patrick could reach out to them and let them know the issue was fixed “These are all kind of examples of a general pattern of trying to be hyper-attentive to all the micro details of what people were doing in the product and iterating rapidly in response to it. Generally speaking, I think pre-product/market fit metrics are actually relatively unhelpful because probably not that many people are using your product. If it’s 20 users, you can in some sense afford to just look at everything they’re doing to understand what’s working and what isn’t.” Another example of this Patrick gives is embedding a text input on each of their web pages with placeholder text prompting users to give them useful feedback(e.g. “The worst thing about Stripe is…”, “The worst thing about this page is…”, or “I really hate the way Stripe does…”). As Patrick explains: “At that stage, you have to be kind of masochistic. We’d always be waking up to all these emails telling us all the terrible things about Stripe. But that was a helpful to-do list for the day ahead. Video source: Y Combinator (2018)
2:13

Stripe CEO Patrick Collison shares the tactics he used for finding product/market fit “We tried very hard to understand in granular detail what exactly it was that people were doing, where they were tripping up and so on.” Patrick gives some examples of specific tactics: • A public chat room to provide support to people integrating Stripe • For the first 10 users of Stripe, every API request sent an email to the founders so they could better understand how users were using their product and see if users were doing anything weird • All errors generated a high-priority email to the founders. This created a pleasant user experience where 15 minutes after hitting an error, Patrick could reach out to them and let them know the issue was fixed “These are all kind of examples of a general pattern of trying to be hyper-attentive to all the micro details of what people were doing in the product and iterating rapidly in response to it. Generally speaking, I think pre-product/market fit metrics are actually relatively unhelpful because probably not that many people are using your product. If it’s 20 users, you can in some sense afford to just look at everything they’re doing to understand what’s working and what isn’t.” Another example of this Patrick gives is embedding a text input on each of their web pages with placeholder text prompting users to give them useful feedback(e.g. “The worst thing about Stripe is…”, “The worst thing about this page is…”, or “I really hate the way Stripe does…”). As Patrick explains: “At that stage, you have to be kind of masochistic. We’d always be waking up to all these emails telling us all the terrible things about Stripe. But that was a helpful to-do list for the day ahead. Video source: Y Combinator (2018)

Startup Archive

45,833 Aufrufe • vor 6 Monaten

Jack Dent story time - his path from high school in the UK to founding Chai is pretty amazing: - Cold-emailed Stripe as a teenager - Daniela Amodei was running Stripe’s careers inbox and forwarded his email to Patrick Collison - Interned on Stripe’s payments API and eventually became the only engineer working on it - Greg Brockman walked around the office with no shoes - Met Joshua Meier while at Harvard. Years later, Sam Altman Facebook-messaged him about Josh when he was leaving OAI - asked if he could be convinced to stay or start a company ... All of it became part of the path to co-founding Chai Discovery a few years later. Early Stripe was a talent epicenter Daniela Amodei Patrick Collison Greg Brockman Sam Altman
7:53

Jack Dent story time - his path from high school in the UK to founding Chai is pretty amazing: - Cold-emailed Stripe as a teenager - Daniela Amodei was running Stripe’s careers inbox and forwarded his email to Patrick Collison - Interned on Stripe’s payments API and eventually became the only engineer working on it - Greg Brockman walked around the office with no shoes - Met Joshua Meier while at Harvard. Years later, Sam Altman Facebook-messaged him about Josh when he was leaving OAI - asked if he could be convinced to stay or start a company ... All of it became part of the path to co-founding Chai Discovery a few years later. Early Stripe was a talent epicenter Daniela Amodei Patrick Collison Greg Brockman Sam Altman

Sabrina Halper

33,476 Aufrufe • vor 2 Monaten

Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful, and Stripe doesn’t embody a culture of incredibly exacting craftsmanship, I’ll be much less happy. I think the returns to both of those things in the world are really high. I think even beyond the pecuniary or financial returns, the world’s just uglier than it needs to be… One can do things well or poorly, and beauty is not a rivalrous good.” Patrick believes a commitment to craftsmanship and beauty played an important role in Stripe’s success: “My intuition is that more of Stripe’s success than one would think is downstream of the fact that people like beautiful things—and for kind of rational reasons because what does a beautiful thing tell you? Well it tells you the person who made it really cared… And so if you care about the infrastructure being holistically good, indexing on the superficial characteristics that you can actually observe is not an irrational thing to do.”
1:29

Patrick Collison on the importance of beauty and craftsmanship when building products “If Stripe is a monstrously successful business, but what we make isn’t beautiful, and Stripe doesn’t embody a culture of incredibly exacting craftsmanship, I’ll be much less happy. I think the returns to both of those things in the world are really high. I think even beyond the pecuniary or financial returns, the world’s just uglier than it needs to be… One can do things well or poorly, and beauty is not a rivalrous good.” Patrick believes a commitment to craftsmanship and beauty played an important role in Stripe’s success: “My intuition is that more of Stripe’s success than one would think is downstream of the fact that people like beautiful things—and for kind of rational reasons because what does a beautiful thing tell you? Well it tells you the person who made it really cared… And so if you care about the infrastructure being holistically good, indexing on the superficial characteristics that you can actually observe is not an irrational thing to do.”

Startup Archive

750,444 Aufrufe • vor 2 Jahren

What will AI look like in 5 years? That's the trillion-dollar question every Big Tech company is trying to answer. But here's an even bigger question: Who will own it? If nothing changes, the most powerful technology in history could be controlled by a handful of billionaires. It doesn't have to end that way. That's why we're building Action Model. Community-owned AI, where the people helping build the future can share in the value they create. AI is inevitable. Who owns it is still a choice.
0:57

What will AI look like in 5 years? That's the trillion-dollar question every Big Tech company is trying to answer. But here's an even bigger question: Who will own it? If nothing changes, the most powerful technology in history could be controlled by a handful of billionaires. It doesn't have to end that way. That's why we're building Action Model. Community-owned AI, where the people helping build the future can share in the value they create. AI is inevitable. Who owns it is still a choice.

Action Model

19,001 Aufrufe • vor 16 Tagen

Co-founder John Collison says Stripe is betting on an agentic commerce future. Most purchases still happen in a browser but that’s changing. With MCP (Model Context Protocol), AI agents can transact directly inside the tools people already use. “It’s kind of funny... an AI can do everything for you, but you still have to manually enter the details. That is clearly not going to persist.”
2:09

Co-founder John Collison says Stripe is betting on an agentic commerce future. Most purchases still happen in a browser but that’s changing. With MCP (Model Context Protocol), AI agents can transact directly inside the tools people already use. “It’s kind of funny... an AI can do everything for you, but you still have to manually enter the details. That is clearly not going to persist.”

vitrupo

52,187 Aufrufe • vor 1 Jahr

Patrick Collison on what he wishes he did differently when scaling Stripe “I think one of the most pernicious mental models you can have is that you are on some growth curve… I think a much better mental model to have is that you’re serving some market, and then there’s the percentage of the market that you’re serving. And whatever percentage you are not serving, you just haven’t built the go-to-market functions and organization that’s brought the product to those market segments.” In the early days of Stripe, they assumed they were on some growth curve, but Patrick believes they could’ve accelerated their growth by viewing growth as a function of their go-to-market apparatus: “What we did not do, but what I wish we did, is six months after launch, we should’ve mapped out the concentric circles of our market.” As he suggests, Stripe should’ve started with very early stage startups then mapped out the larger set of all technical startups - not necessarily very early stage. Then continue this process in successive increments until they got to all companies handling online payments. Each step along the way, figuring out the size of each market, the fraction Stripe was currently serving, what it would take to serve more, and so on. And then work backwards from there: “What would the organization look like that was serving the entire market? Let’s just start building that organization, because the growth curve is under my control. Of course, it’s not 100% under your control, but I think it’s much more under your control than people tend to think.” Video source: Y Combinator (2018)
1:21

Patrick Collison on what he wishes he did differently when scaling Stripe “I think one of the most pernicious mental models you can have is that you are on some growth curve… I think a much better mental model to have is that you’re serving some market, and then there’s the percentage of the market that you’re serving. And whatever percentage you are not serving, you just haven’t built the go-to-market functions and organization that’s brought the product to those market segments.” In the early days of Stripe, they assumed they were on some growth curve, but Patrick believes they could’ve accelerated their growth by viewing growth as a function of their go-to-market apparatus: “What we did not do, but what I wish we did, is six months after launch, we should’ve mapped out the concentric circles of our market.” As he suggests, Stripe should’ve started with very early stage startups then mapped out the larger set of all technical startups - not necessarily very early stage. Then continue this process in successive increments until they got to all companies handling online payments. Each step along the way, figuring out the size of each market, the fraction Stripe was currently serving, what it would take to serve more, and so on. And then work backwards from there: “What would the organization look like that was serving the entire market? Let’s just start building that organization, because the growth curve is under my control. Of course, it’s not 100% under your control, but I think it’s much more under your control than people tend to think.” Video source: Y Combinator (2018)

Startup Archive

64,296 Aufrufe • vor 4 Monaten

Uber fouinder, Travis Kalanick just flagged the dominant force in the coming physical AI age. That's Tesla. In every tech era, there is one company that investors fear. In the past, startups died because Google or Uber could add a feature and erase a competitor’s value. Today, Tesla holds that same intimidating position in the realm of robotics and physical automation. "When you look at the PHysical AI stack, you’re like, "Damn, Tesla’s got this." They are the Google of this era." --- From 'All-In Podcast' YT channel (link in comment)
1:00

Uber fouinder, Travis Kalanick just flagged the dominant force in the coming physical AI age. That's Tesla. In every tech era, there is one company that investors fear. In the past, startups died because Google or Uber could add a feature and erase a competitor’s value. Today, Tesla holds that same intimidating position in the realm of robotics and physical automation. "When you look at the PHysical AI stack, you’re like, "Damn, Tesla’s got this." They are the Google of this era." --- From 'All-In Podcast' YT channel (link in comment)

Rohan Paul

19,741 Aufrufe • vor 4 Monaten