All-In with Chamath, Jason, Sacks & Friedberg E117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
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Feb 24, 2023 The discussion kicks off with a lighthearted sharing of experiences from a ski trip to Japan. The panel dives into Stripe’s current challenges, questioning if it has missed its chance to shine with troubling growth metrics and hefty tax bills. They explore the impact of AI on the SaaS industry, highlighting its role in transforming customer service and operational efficiency. The conversation wraps around political strategies, including Trump’s approach to international issues and the implications of Biden’s foreign policy decisions, sparking thoughtful analysis and humor.
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Stripe's Tax Bill
- Stripe faces a $4 billion tax bill due to expiring employee RSUs.
- This highlights the issue of companies staying private for too long, potentially missing their optimal window to go public.
Valuation Insights
- Stripe's high valuation was likely inflated by the zero-interest-rate environment.
- Comparing Stripe to Adyen reveals the importance of operating leverage and cost structure.
Enterprise vs. SMB
- Adyen's focus on large enterprise customers provides operating leverage and profitability.
- Stripe's broad SMB focus requires more features and employees, impacting profitability.