The David Rubenstein Show John Collison
Sep 19, 2024
John Collison, co-founder and president of Stripe, shares the journey of creating a game-changing payment solution for online businesses. He discusses the transformation from a complicated process to a user-friendly platform. The conversation delves into the collaboration between tech firms and banks, navigating the ups and downs of valuations, and the lessons learned from startups. Collison also reflects on sibling dynamics in entrepreneurship and the importance of innovation spurred by customer feedback. His insights offer a fascinating peek into the fintech landscape.
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Stripe's Origin
- Stripe simplifies online payments for businesses.
- It originated from the Collison brothers' own online business challenges, initially named "slash dev slash payments".
Pre-Stripe Payments
- Before Stripe, businesses primarily obtained merchant accounts from banks.
- Banks often lacked the software expertise and focus on internet businesses' needs.
Stripe and Large Companies
- Large companies seek Stripe's services to improve customer experience, mirroring tech startups.
- Stripe works with companies like Ford, Hertz, Amazon, and Urban Outfitters to modernize their payment systems.