Patrick and John Collison, co-founders of Stripe, discuss the strategy and culture that attracts ambition, their progress in increasing the GDP of the internet, studying old companies for insights, the challenges ahead for Stripe in expanding their payment services, and reflecting on kindness and gratitude.

This episode is packed with wisdom from previous guests on the art of making better decisions.  We discuss the three types of decision-makers, how to control your emotions when making decisions, why it’s crucial to look at every decision differently, the processes for coming to the right decision, and how to learn from your mistakes when you get it wrong. The guests on this episode are author Ventakesh Rao (Episode 7), psychologist, author and professional poker player Maria Konnikova (Episode 89), Stripe co-founder Patrick Collison (Episode 32), cognitive-behavioral decision science author and professional poker player Annie Duke (Episode 37), and Shopify co-founder Tobi Lutke (Episode 41).   Transcript: https://fs.blog/knowledge-project-podcast-transcripts/tkp-insights-decision-making/ -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/ Every Sunday, our Brain Food newsletter shares timeless insights and ideas you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

Brought to you by Linear—The new standard for modern software development | Vanta—Automate compliance. Simplify security. | Dovetail—Bring your customer into every decision.—Claire Hughes Johnson is the former COO at Stripe, which she helped scale from a small startup to the legendary company it is today. She also spent close to 10 years at Google, where she filled several executive roles, including VP of Global Online Sales and Director of Sales and Ops for Gmail, YouTube, Google Apps, and AdWords. Claire shares invaluable insights from her upcoming book, Scaling People, on how to successfully build and scale organizations. We talk about the importance of building self-awareness, and Claire gives tons of tactical advice on how to say things that are hard to say, as well as how to improve your internal communications, and so much more.Find the full transcript at: https://www.lennysnewsletter.com/p/lessons-from-scaling-stripe-tacticsWhere to find Claire Hughes Johnson:• Twitter: https://twitter.com/chughesjohnson• LinkedIn: https://www.linkedin.com/in/claire-hughes-johnson-7058/Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• Twitter: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/Referenced:• Scaling People: Tactics for Management and Company Building: https://www.amazon.com/Scaling-People-Tactics-Management-Building/dp/1953953212• John Collison on LinkedIn: https://www.linkedin.com/in/johnbcollison/• Patrick Collison on LinkedIn: https://www.linkedin.com/in/patrickcollison/• Discord: https://discord.com/• Toast: https://pos.toasttab.com/• High Growth Handbook: Scaling Startups from 10 to 10,000 People: https://www.amazon.com/High-Growth-Handbook-Elad-Gil/dp/1732265100• Myers-Briggs personality types: https://www.myersbriggs.org/my-mbti-personality-type/mbti-basics/• Enneagram types: https://www.enneagraminstitute.com/type-descriptions• Disc assessment: https://www.discprofile.com/what-is-disc• Conscious Business: How to Build Value through Values: https://www.amazon.com/Conscious-Business-Build-through-Values/dp/1622032020/• Reid Hoffman on LinkedIn: https://www.linkedin.com/in/reidhoffman/• Eeke de Milliano on Lenny’s Podcast: https://www.lennyspodcast.com/how-to-foster-innovation-and-big-thinking-eeke-de-milliano-retool-stripe/• Running an effective meeting: https://www.youtube.com/watch?v=GIiaFW874q8• Gokul’s S.P.A.D.E. framework: https://coda.io/@gokulrajaram/gokuls-spade-toolkitIn this episode, we cover:(00:00) Claire’s background(04:47) How writing Scaling People helped Claire crystallize learnings(07:58) How she got started writing her book(11:11) Advice that changed the way she operates(15:18) The lack of job titles at Stripe(19:01) Scaling your organizational structure(23:46) What founders need to think about in the early days(26:38) Personal operating principles(29:04) How to crystallize your own values to gain self-awareness(34:29) Advice for saying uncomfortable things(37:12) Being an explorer, not a lecturer(43:57) Come back to the operating system(47:17) Organizational structure using Claire’s house metaphor(50:50) Why some chaos is normal(52:45) Founding documents you need(58:30) The components of a company’s operating system (1:01:31) Finding the right cadence(1:04:48) COOs and which types of businesses need them(1:11:30) Advice on scaling quickly(1:13:56) The importance of internal communications(1:16:03) Running effective meetings(1:17:17) Advice for aligning and making decisions as a managerProduction and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com. Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

Discussion on processing $1 trillion/year, building multi-decade APIs, and future of Stripe. Arc Institute, AI agents' financial infrastructure, progress studies, Stripe history, beauty & APIs, financial innards, Stripe culture & future, virtues of big businesses.

On this episode of the Knowledge Project Podcast, I chat with Patrick Collison, co-founder and CEO of the leading online payment processing company, Stripe. If you’ve purchased anything online recently, there’s a good chance that Stripe facilitated the transaction. What is now an organization with over a thousand employees and handling tens of billions of dollars of online purchases every year, began as a small side experiment while Patrick and his brother John were going to college.   During our conversation, Patrick shares the details of their unlikely journey and some of the hard-earned wisdom he picked up along the way. I hope you have something handy to write with because the nuggets per minute in this episode are off the charts. Patrick was so open and generous with his responses that I’m really excited for you to hear what he has to say. Here are just a few of the things we cover: The biggest (and most valuable) mistakes Patrick made in the early days of Stripe and how they helped him get better The characteristics that Patrick looks for in a new hire to fit and contribute to the Stripe company culture What compelled he and his brother to move forward with the early concept of Stripe, even though on paper it was doomed to fail from the start The gaps Patrick saw in the market that dozens of other processing companies were missing — and how he capitalized on them The lessons Patrick learned from scaling Stripe from two employees (he and his brother) to nearly 1,000 today How he evaluates the upsides and potential dangers of speculative positions within the company How his Irish upbringing influenced his ability to argue and disagree without taking offense (and how we can all be a little more “Irish”) The power of finding the right peer group in your social and professional circles and how impactful and influential it can be in determining where you end up. The 4 ways Patrick has modified his decision making process over the last 5 years and how it’s helped him develop as a person and as a business leader (this part alone is worth the listen) Patrick’s unique approach to books and how he chooses what he’s going to spend his time reading ...life in Silicon Valley, Baumol’s cost disease, and so, so much more. Patrick truly is one of the warmest, humblest and down-to-earth people I’ve had the pleasure to speak with and I thoroughly enjoyed our conversation together. I hope you will too! Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish  

"If people around you don't think what you're doing is a bit strange, maybe it's not strange enough." — Patrick CollisonPatrick Collison (@patrickc) is chief executive officer and co-founder of Stripe, a technology company that builds economic infrastructure for the internet.After experiencing firsthand how difficult it was to set up an online business, Patrick and his brother John started Stripe in 2010. Their goal was to make accepting payments on the internet simpler and more inclusive. Today, Stripe powers millions of online businesses around the world.Prior to Stripe, Patrick co-founded Auctomatic, which was acquired by Live Current Media for $5 million in March 2008. In 2016, he was named a Presidential Ambassador for Global Entrepreneurship by President Obama. Originally from Limerick, Ireland, Patrick now lives in San Francisco where Stripe is headquartered.Also, as you can tell from seeing just a selected segment of his reading list shared in the show notes on tim.blog/podcast, he's one of the most well-read people I know. Please enjoy!Click here for the show notes for this episode.This podcast is brought to you by 99designs, the global creative platform that makes it easy for designers and clients to work together create designs they love. Its creative process has become the go-to solution for businesses, agencies, and individuals, and I have used it for years to help with display advertising and illustrations and to rapid prototype the cover for The Tao of Seneca. Whether your business needs a logo, website design, business card, or anything you can imagine, check out 99designs.You can work with multiple designers at once to get a bunch of different ideas, or hire the perfect designer for your project based based on their style and industry specialization. It's simple to review concepts and leave feedback so you'll end up with a design that you're happy with. Click this link and get a free $99 upgrade.*This podcast is also brought to you by Athletic Greens. I get asked all the time, "If you could only use one supplement, what would it be?" My answer is, inevitably, Athletic Greens. It is my all-in-one nutritional insurance. I recommended it in The 4-Hour Body and did not get paid to do so. As a listener of The Tim Ferriss Show, you'll get a free 20-count travel pack (valued at $100) with your first order at AthleticGreens.com/Tim.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Navigating uncertain economic conditions is part and parcel of running a business. Yet, throughout challenging times, it’s critical that startups stay committed to continually pushing the possibilities of what technology can deliver, says Stripe CEO Patrick Collison. That means leading with the guiding principle “micro pessimism and macro optimism.” Often, Collison says, this means having a relentless ability to be critical about the state of technology (including one’s own products) while still believing in its possibilities.That viewpoint acknowledges the structural tension companies face when trying to innovate in the context of economic reality, and can be the difference between persisting through challenging times or becoming a casualty of yet another tech boom and bust cycle. Collison joined Greylock general partner Reid Hoffman on our Iconversations speaker series to discuss Stripe’s early days and its evolution into the payment and financial services platform giant it is today, and his advice to startups for navigating the predictable unpredictability of business. You can watch the video of the interview here: https://youtu.be/rzic-FivMfc You can read the transcript here: https://greylock.com/greymatter/micro-pessimism-macro-optimism/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Brothers Patrick and John Collison, founders of Stripe, discuss building a software company for seamless online payments. They share insights on entrepreneurship, overcoming challenges, and the evolution of payment systems. The podcast also features a story of turning a grandma's cookie recipe into a successful business.

Patrick Collison, Co-founder of Stripe, discusses the creation and impact of Fast Grants for COVID-19 research, the effective altruism movement, and balancing self-perception and continuous learning for teenagers. They also explore the feasibility of large-scale projects to tackle global challenges and the importance of studying liberal arts in technology education.

Join economist Matt Clancy, Stripe co-founder Patrick Collison, and OpenPhil CEO Alexander Berger as they explore whether scientific progress is really slowing down. They discuss the challenges in measuring scientific breakthroughs, revealing a paradox of increasing funding yet declining impact. The conversation dives into how historical evidence, evolving practices, and innovations like AI may influence future advancements. With insights on institutional reforms and diverse funding, they argue for a renewed focus on enhancing scientific productivity.