This Week in Startups Shopify CEO Tobi Lütke on navigating a downturn, innovating in compensation & more | E1568
Sep 24, 2022
Tobi Lütke, the visionary Founder and CEO of Shopify, shares his insights on navigating the tumultuous e-commerce landscape post-COVID and introduces their innovative compensation model, "Flex Comp." He reflects on the challenges of competing with giants like Amazon and the emotional impact of layoffs. Joining him is Jules Terpak, a digital culture commentator, who delves into the nuances of Gen Z's online life and the ever-evolving dynamics of social media. Together, they explore the intersection of technology, entrepreneurship, and modern communication.
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Early Shopify Interview
- Jason Calacanis recounts meeting Tobi Lütke roughly ten years prior, alongside Chamath Palihapitiya.
- They traveled to Canada and conducted an interview, marking an early interaction with Shopify's journey.
Rollercoaster of Entrepreneurship
- Running a growing company presents unique challenges, with highs and lows becoming more frequent.
- Tobi Lütke likens the experience to a rollercoaster, reflecting the emotional oscillations of entrepreneurship.
Stability is Rare
- Stable and predictable businesses are rare in tech, often involving quasi-monopolies or government-like stability.
- Tobi Lütke highlights the dynamic nature of most businesses, referencing Shopify's interactions with millions of entrepreneurs.