This Week in Startups Tobi Lütke on Shopify’s impact on the creator economy, COVID forcing focus, early Internet breakthroughs, evolving as a remote manager & much more | E1184
Mar 14, 2021
Tobi Lütke, the founder and CEO of Shopify, shares his journey in empowering entrepreneurs in the creator economy. He discusses how COVID-19 reshaped business practices and remote management. The conversation dives into the early internet breakthroughs that laid the groundwork for e-commerce. Tobi also reflects on innovative management strategies and the importance of fostering strong connections in a digital workspace. He emphasizes the value of dedicated audiences for creators and how subscription models are redefining artistic independence in today's market.
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Direct Relationships vs. Race to the Bottom
- Direct-to-consumer brands value direct customer relationships and control over their brand.
- Platforms like Shopify enable this, contrasting with Amazon's third-party seller ecosystem.
Importance of a Home Base
- Having a "home base" on the open web lets brands own their online presence.
- From there, they can strategically use other platforms like Amazon or TikTok as sales channels.
Friction vs. Policy
- Removing friction, more than policy, shapes adoption and market size.
- Simplifying processes like payments significantly increases consumption by lowering barriers to entry.