Masters of Scale Be a platform, w/Shopify's Tobi Lütke
Dec 15, 2020
Tobi Lütke, the Founder and CEO of Shopify, revolutionizes e-commerce by discussing the power of building a platform that benefits everyone. He emphasizes creating a virtuous cycle for business growth and shares how prioritizing third-party developers has transformed Shopify's ecosystem. Lütke also explores innovative employee care strategies, like the 'Lobatical' program, highlighting how a positive work environment enhances customer experiences. Throughout, he provides insights on standing out from competitors and fostering a collaborative company culture.
AI Snips
Chapters
Transcript
Episode notes
Archibald's Lemonade Stand
- Archibald built a lemonade empire but refused to collaborate with others.
- He ultimately lost to Loretta's open platform, which embraced collaboration and diverse offerings.
Be a Platform
- The key to scaling massively is building a platform.
- Create a win-win ecosystem where everyone benefits, making you the biggest winner.
Shopify's Success
- Shopify's success demonstrates the power of platforms.
- In 2018, Shopify facilitated over $40 billion in sales for its merchants, and app developers earned over $90 million.