

Co-Founder of Square - How we beat Amazon & built a $50 Billion + Company | Jim McKelvey
Mar 20, 2025
Jim McKelvey, co-founder of Square, is a tech pioneer and author known for his innovative approach to business. In this engaging conversation, he reveals how Square not only thrived against Amazon but redefined digital payments. Jim delves into the concept of the 'innovation stack' and shares strategies for overcoming challenges and competition. He also explores the emotional complexities of entrepreneurship, addressing the balance of wealth and vulnerability. With insights on navigating the future of digital payments, his wisdom is a treasure for any aspiring innovator.
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Square's Origin
- Jim McKelvey lost a sale in his glass studio because a customer only had an American Express card, which had high processing fees.
- This sparked the idea for Square, enabling phones to become credit card processors.
Amazon's Attack
- Three years into Square, Amazon copied their product and undercut their pricing, a tactic that had previously killed every startup they targeted.
- Despite the odds, Square survived, leading McKelvey to investigate the reasons behind their unlikely success.
Inspiration for the Innovation Stack
- McKelvey spent two years researching how companies survive attacks from larger competitors, ultimately interviewing Herb Kelleher, founder of Southwest Airlines.
- Kelleher's story and questioning inspired McKelvey to write "The Innovation Stack" to share his findings.