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.Patrick Collison on how Stripe got its name: "We just couldn't come up with a good name... We were literally reduced to picking random words late at night." "One of the folks at Stripe had the bright idea of, 'Why don't we just assemble a big list of words...

112,787 views • 17 days ago •via X (Twitter)

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John Collison: We only had 50 users two years after founding Stripe “We started working on Stripe in the Fall of 2009, and we launched Stripe in September 2011,” John Collison reflects. “I remember right at the beginning when we were starting it I said to Patrick [Collison], ‘Yeah let’s do it. How hard can it be?’ Which gives you a sense of our mindset. And the answer was: two years of difficulty. We had not predicted that.” John remembers feeling dejected when Stripe only had 50 users two years later: “When you spend two years getting 50 users, it doesn’t feel like a whole lot of progress. It feels like things are going pretty slow.” But this is one of the challenges of startups, he argues: “If you’re working on a startup that’s a bad idea, it’s going to feel like slow-going. But if you’re working on a startup that’s a good idea, it may feel like slow-going too.” Yet slow growth has a silver lining: “I think the thing that allowed us to take off in the subsequent years was the fact that since we were spending so much time on each one of those users; since we were hyper-focused on building a great product; and since we weren’t dealing with problems of scale yet, that allowed us to build the product that we wanted. Part of the culture that set in really early on was taking abnormally good care of those early users.” The Stripe founders would get an email or phone call anytime a user ran into a bug. When they sent the customer an email moments later alerting them that the bug was now fixed, people’s minds were blown. They set up a Campfire room that any customer could join and use to message John and Patrick at any hour of the day or night. And if a user was based in the Bay Area, the founders would invite them to come by the office and help integrate Stripe for them. In the Stripe dashboard they would prompt their customers for feedback and feature requests. Then the Stripe founders would reply to that feedback within 10 minutes. “What this meant was that even though the user growth was happening quite slowly in the early days,” John explains, “it actually had a pretty surprising viral effect where people had a good experience, they told their friends about it, and we were able to spread entirely through word-of-mouth even to this day.” Video source: Stanford eCorner (2015)

Startup Archive

191,059 views • 10 months ago

Sam Altman and John Collison: Every startup goes through "the dark times" “No one is as honest about how bad the early days are as they should be because it’s so embarrassing in retrospect.” He talks through just how unpromising everything looked in the early days: “We were this extremely ragtag group of people. We were mocked by everyone serious in the field. And we didn’t have working technical progress. We had some little things that kind of worked, but it was deeply unclear how we were going to make AGI, and we were unbelievably outgunned by Deep Mind at the time. A lot of people were like ‘why are you doing this? Deep Mind is untouchable.’… so yeah, it was pretty hard but we just kept putting one foot in front of the other. We were constantly not able to find enough money or compute or people. But you just keep going and eventually something works.” Stripe cofounder John Collison reiterates this: “Every company that is going to get to some scale definitely goes through a period of the dark times. If I think back to Stripe’s dark times, there was this point just after launch where the endorphins had worn off, and we had a bunch of early people leave all at once. It was very draining. You know, you lose some of your own confidence.” What kept the Stripe founders going—besides having an idea that they were really excited about—was momentum from serving customers. When you have customers using your product, you kind of have no choice but to continue serving them. Sam echoes this point: “Once you have customers that you have to serve, they really pull it out of you.” Open AI didn’t have customers and was more focused on foundational research, but to keep their sanity, they tried to set up external touch points that faked the equivalent of having customer feedback. Source: Stripe (Oct 2023)

Startup Archive

20,791 views • 15 days ago

My cousins and my brother and I were exploring Coney Island, we saw the sights, hung out at the arcades and before we went back to the apartment we decided to go and get something to eat, we had some money on us but not much so we decided to see what we could get at one of the vendors. This was back in the early 90’s when most of them had dollar slices of pizza wherever we went. So we got 4 pieces of pizza, should have been $4 because that’s the price we were used to. The guy wanted to charge us $24 at $6 a slice. We argues with him because one of my cousins already took a bite being so hungry. But at the least we owed $4. We gave the other slices back and refused them but had to pay for the partially eaten one, it was embarrassing that an adult would try that on a bunch of kids. We told our uncle what happened and he went back and yelled at the vendor. He was familiar with them because he used to get slices all the time from the same guy and he never charged my uncle that price. I couldn’t imagine paying that exurban amount, like this guy who was being charged $54 for a hotdog by one of the vendors. At first he thought it was a typo and it was $5.40 but the vendor. Learned it up when he said no it was $54. Would you have paid that amount? I would have walked away, clearly he was trying to possibly scam a the man for looking like a tourist. Part of the experience when visiting a new area is the street food but it’s becoming more and more a chore avoiding places like this.

SonnyBoy🇺🇸

362,822 views • 1 month ago

FNC Boaster: “These events are, as you can probably imagine, quite tiring. We go from the upper bracket into three games in a row for the final days. That, on top of lots of media, lots of features, lots of just random stuff that we do. Not to mention the fact that when we go into our games, there’s a lot of adrenaline. After every game, my body aches and my head hurts, and then we have to somehow get to sleep, and then we’ve got to wake up early and stuff. So there’s loads of factors into this. It’s not just simply, you go in and you play. And I think we started slow today, especially on Corrode and Lotus. A big map was Lotus for us, and we weren’t able to, just everything wasn’t going our way. The Odin was completely annihilating us. Then when we got to Abyss, we were like, ‘This is the last chance.’ And I felt very confident that we could win this one, because I felt like I knew everything they did on the attack side. And then, what were we like 1–11 down or something? I was like, ‘Oh bloody hell, this one’s going to be a tough one, isn’t it?’ We managed to do it, and then I was like, ‘Holy guacamole, the dream is alive!’ And it felt amazing, hearing the crowd and being able to just do that, because it would’ve been so disappointing of a final to just bomb out there. But in the FNATIC way, we fight back. Ascent, we’re starting to feel the kind of momentum. And then it gets to Sunset, a map that was the one kind of perma-ban we had, but we had some stuff on it. Unfortunately, it was just the crucial map for us to get the win, and some of the rounds just didn’t go our way, and that’s how VALORANT goes, you know. It felt like the rounds that we needed to win, we lost, and then they had an ultimate the next round, and that’s how brutal it is on defense. If we had just been able to win one of those rounds, like the bonus round, holy guacamole, we would’ve been loving life. And it was the difference of like a 1v1 in the end. So yeah, I mean, we tried our best. That’s why I’m not that [sad]. I am sad, obviously, but I’m not like how I was in Toronto, because I felt like we pushed, we tried our best, and I’m very happy with the boys. It would’ve been nice to win, but there’s only one winner, so it’s just a blessing to compete instead.” #VALORANTChampions via Pedro Romero

VALO2ASIA

160,238 views • 10 months ago

Tom Holland on the moment 30 miles offshore that left him unable to speak for three hours Tom: "we went swimming with killer whales in Mexico I said the other day it was last year and it was one of the most humbling experiences of my life there's no proof of it there's no evidence because it was so off the cuff we weren't planning on doing it so most people I tell are like you definitely didn't do that" "we were in Mexico and we were on a boat and we just so happened to see this pod of orca Jack my security guard thought it'd be a good idea to jump in he jumped straight in flippers on goggles on and we were driving to keep up with the whales cuz they were kind of following our boat so by the time Jack had jumped in he was like 100 metres away and you could see him and the whales were like swimming around him so I'm starting to freak out cuz he's a good friend of mine" Jay: "and he's your security" Tom: "and he's my security I'm like Jack we got to get back to the hotel bro so I said to the guy like excuse me sir can you turn around and go and get my friend cuz we now can't see him anymore like he's gone we found him we got him back in the boat and he sort of said like lads you have to get in there it's unlike anything you've ever seen before" "my brother Harry's like googling whether or not it's safe to swim with them and it's sort of the general consensus online is don't go swimming with killer whales you can there's never been a recorded attack in the wild but they are wild animals big as a bus and also Jack's giving it like don't worry Tom I'll be there I'll look after you I'm like Jack what are you going to do bro like what's this this whale decides to eat me" Tom: "so anyway we put the flippers on put the goggles on we find the whales they're sort of interacting with the back of the boat they're clearly curious and I just was like I'm going to try it and see what happens I jumped in my brother jumped in Jack jumped in we kind of came together with 30 miles out of the coast so it's literally like dark blue water nothing below us" "and to my relief the whales had gone we couldn't see them so I'm sort of thinking oh well that's actually a bit of a touch at least I can say I jumped in and they have gone but then Jack said look down and we looked down and it came from beneath us" "what has been such an interesting experience for me was as soon as I saw the whale I wasn't scared anymore because I could just tell that it wasn't going to eat me I don't know how to explain it but you could just see from its body language" "I remember it so vividly it swam up to us it was maybe 10 metres below us and it was kind of motionlessly sort of just looking at us and then it kind of rolled on its back it did this weird thing where it kind of put its head like this and you could see its eye like we were having this crazy like moment and then it just swam off and it was gone" "and then for 3 hours afterwards I couldn't speak I had the biggest adrenaline dump I just basically was asleep but it was such an amazing experience to sort of meet the apex predator of the world and it kind of look at you and just swim away"

Naruto

204,956 views • 1 month ago

Adel Ferdowsipour's initial reaction to Iran's elimination: Clouds and wind and moon and sun and fate and the post and offsides all came together so that we were eliminated from the competition. But was our presence in a 48 team World Cup an accomplishment? We've previously said this - no. We have the history of being present in World Cups that Asia had just half a slot. And we went there and were present. Is that we were not able to be one of the 32 qualifying teams and get out of our group considered a defeat? A failure, a defeat, whatever we want to call it? Yes. It would be considered. That we did not establish a clear vision for the continuation of our country's football, that we do not have a young team, in six months the Asian Cup will be held, in four years the World Cup will be held, and we have not established any clear vision ... we've talked about this multiple times ... but there was no one listening. Our team came to these matches as one of the oldest teams and ultimately was eliminated from the competition. Did we have the necessary boldness to advance from our group? In my view - no. Could we have played better? Certainly yes. That we did not with the 4 points that they had repeatedly promised and said we will get at least 4 points and definitely advance and this will happen and that will happen ... is this considered a failure? Yes. But - Let's look at the other side of the issue too. Did we not have bad luck? We had a lot of bad luck! The events that happened, like the Austria - Algeria game was the pinnacle ... meaning the events of the games and things that happened lined up in a way that we ultimately do not advance. That in the last few games every single thing that shouldn't have happened did so one after another so we get eliminated ... did we have any luck in this angle? No. But couldn't we have had our fate in our own hands? Could we have played bolder? That we have drawn with Belgium, in a situation where many small teams have stopped big teams and gotten good results ... should it be considered an accomplishment? I don't know.

Alireza Talakoubnejad

48,538 views • 2 months ago