Erik Torenberg interviews Harley Finkelstein, president of Shopify, discussing tariffs, political shifts, Shopify's earnings, and the evolution of entrepreneurship.

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LINKS:

Shopify: https://www.shopify.com/

Firebelly Tea: https://www.firebellytea.com/

Big Shot Podcast: https://www.bigshot.show/

Shopify president on e-commerce trends, impact of tariffs and state of the consumer: https://www.youtube.com/watch?v=si_j0P0DPM4 

 World's First Podcast: https://linktr.ee/worldsfirstpodcast 

 Nobody Wants This (Netflix): https://www.netflix.com/title/81591296 

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X / TWITTER:

@harleyf

@Shopify

@eriktorenberg

@turpentinemedia

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HIGHLIGHTS FROM THE EPISODE:

•  Harley views tariffs as adding unnecessary complexity to entrepreneurship.
• Shopify advocates for streamlining business creation processes.
• Not every business needs external funding to succeed.
• Shopify Capital helps merchants who can't access traditional funding.
• Harley's Big Shot podcast archives stories of successful Jewish entrepreneurs.
• A common theme across entrepreneur interviews is crediting spouses for success.
• October 7th strengthened Harley's connection to his Jewish identity.
• Harley employs different mentors for different aspects of life.
• Montreal's culture celebrates entrepreneurs as cultural heroes.
• Commonwealth countries suffer from "tall poppy syndrome" that discourages standing out.
• 2024 was Shopify's strongest year with nearly $300 billion in GMV.
• International merchants now represent 50% of Shopify's user base.
• Post-omnichannel commerce focuses on selling in places most relevant to specific customers.
• Content, entertainment, and commerce are increasingly blending for successful brands.
• Shopify takes a practical approach to AI implementation across its platform.
• AI features include generated replies, media editing, and business coaching.
• Shopify created dual career tracks: management and "crafters" (individual contributors).
• The "Mastery" program enables promotions while staying focused on craft expertise.
• Shopify operates "digital by design" - primarily remote with intentional gatherings.
• Leadership team members are distributed across multiple geographic locations.
• The company uses "tours of duty" - three-year commitments with deliberate check-ins.
• Employees must grow at a rate equal to or greater than the company's growth.