The Gray Area with Sean Illing

Stripe CEO Patrick Collison on management, rationalism, and the enlightenment

Dec 6, 2016
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ANECDOTE

Early Online Payments

  • In 2010, buying things online was possible, but the underlying payment systems were clunky.
  • Existing services were provided by banks, not tech companies, making integration difficult for online businesses.
INSIGHT

Immature Markets

  • Focus on market maturity, not just the existence of a product, when evaluating opportunities.
  • Stripe's success stemmed from recognizing that online commerce, while existent, was still a tiny fraction of the total economy.
INSIGHT

Details Matter

  • Many successful tech companies, like Stripe and Slack, didn't invent something entirely new.
  • They improved existing solutions by focusing on details like user experience and speed, thereby expanding the market.
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