Tobi Lütke

Tobi Lütke, Founder and CEO of Shopify, shares his unique approach to leadership and entrepreneurship. He emphasizes why complexity can hinder growth and the importance of first principles thinking. Tobi discusses how to approach metrics and decision-making, advocating for joy and qualitative factors over traditional statistics. He also highlights the significance of coding in leadership, encouraging collaboration and curiosity within teams. The conversation delves into the idea of long-term vision and its role in empowering human potential and successful product leadership.

Tobi Lütke, co-founder and CEO of Shopify, shares his journey from a coder in Germany to leading an e-commerce powerhouse. He discusses the vital differences between founders and professional managers and how he navigates market volatility with a clear 'North Star.' Lütke explores balancing innovation with structure, the evolution of productivity through programming, and the media's role in shaping societal perceptions. He emphasizes decision-making that values long-term impact over short-term gains and the importance of maintaining well-being, especially in the pandemic era.

Tobi Lütke, co-founder and CEO of Shopify, shares his insights on innovation and leadership. He discusses the transformative role of AI in business, emphasizing the importance of adapting organizational culture and strategy. Tobi highlights the concept of 'Founder Mode' and the significance of fostering 'islands' of innovation to drive creativity. He also dives into the dynamics of trust within organizations and the critical balance between operational efficiency and market challenges, ultimately advocating for authenticity in monetization strategies.

Tobi Lütke, Co-founder and CEO of Shopify, shares invaluable insights from his journey in e-commerce. He argues that micromanagement can sometimes be beneficial, especially in critical situations. Tobi explores how lessons from World of Warcraft guilds can teach teamwork better than traditional companies. He emphasizes that constraints drive creativity and the importance of in-person collaboration over remote work. Additionally, he reflects on the pursuit of true contentment versus fleeting happiness, discussing personal growth and decision-making quality.

Today, I interview fellow Ottawan and the founder and CEO of Shopify, Tobi Lütke. In case you’re still new to the internet, Shopify is the largest ecommerce platform that allows people to easily set up online storefronts to sell everything from jewelry to surfing lessons. Shopify began as a simple two man operation selling snowboards online, but it became clear rather quickly that it had the potential to grow into much more. Now Shopify employs more than 4,000 people and supports more than 600,000 businesses online. It’s a remarkable story, with a remarkable leader at the helm. There was so much I wanted to talk to Tobi about that we hop around quite a bit. Here are a few of the topics we discuss: Tobi’s thoughts on how video games helped him prepare to run a company How selling snowboards online slowly transitioned to the creation of one of the biggest tech companies in the world Why Tobi intentionally headquartered Shopify outside of Silicon Valley and how that fits into his overall growth strategy One of the most underrated resources Tobi leans on to mine nuggets of wisdom when trying to get insight or solve a problem The hard and valuable lessons Tobi learned as they scaled from a 2 employee company to a 4,000 employee company What the “Tobi test” is, and how it helps Shopify team members become more adaptable, unified and prepared when things go haywire How employees use the “trust battery” and how it fosters better teamwork, communication, and productivity throughout the company The benefits of hiring employees in a “secondary market” as opposed to a “primary market” and how that contributes to the unique culture at Shopify Tobi’s decision-making process and his philosophy on making quick vs analytic decisions Tobi’s unusual morning routine that gets him in the right mindset to tackle the day His optimistic view of AI and machine learning and how they will impact the way we do things in the future And more… Whether you’re building a business of your own, want to create a more dynamic and unified culture at work, or just like hearing entrepreneur war stories, this episode will not disappoint. 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   Learn more about your ad choices. Visit megaphone.fm/adchoices

Tobi Lütke, co-founder and CEO of Shopify, shares insights about the evolution of digital infrastructure and its critical role in business amidst market volatility. He emphasizes Shopify's adaptive growth strategy and the importance of flexibility in logistics post-COVID. Giuseppe Coco from LK Advisors discusses enhancing investment analysis through Canalyst, illustrating the need for practical financial models. Together, they delve into how technological advancements reshape market dynamics and the value of simplified financial analysis for better decision-making.

"Feedback is a gift." — Tobi LütkeTobi Lütke (@tobi) is the founder and Chief Executive Officer of Shopify. In 2004, Tobi began building software to launch an online snowboard store called Snowdevil. It quickly became obvious that the software was more valuable than the snowboards, so Tobi and his founding team launched the Shopify platform in 2006. He has served as CEO since 2008 at the company's headquarters in Ottawa, Canada.Tobi is an active advocate for computer literacy and education, and serves as a board member of Canada Learning Code, an organization working to give all Canadians access to digital skills. In 2014, Tobi was named The Globe and Mail's CEO of the Year. He served as Chair of the Digital Industries Table, an advisory board commissioned by the federal government to provide recommendations on how to turn Canada into a digital leader.Please enjoy!Click here for the show notes for this episode.This podcast is brought to you by Peloton, which has become a staple of my daily routine. I picked up this bike after seeing the success of my friend Kevin Rose, and I've been enjoying it more than I ever imagined. Peloton is an indoor cycling bike that brings live studio classes right to your home. No worrying about fitting classes into your busy schedule or making it to a studio with a crazy commute.New classes are added every day, and this includes options led by elite NYC instructors in your own living room. You can even live stream studio classes taught by the world's best instructors, or find your favorite class on demand.Peloton is offering listeners to this show a special offer. Visit onepeloton.com and enter the code TIM at checkout to receive $100 off accessories with your Peloton bike purchase. This is a great way to get in your workouts, or an incredible gift. Again, that's onepeloton.com and enter the code TIM.This episode is also brought to you by LegalZoom. I've used this service for many of my businesses, as have quite a few of the icons on this podcast, such as Automattic CEO Matt Mullenweg of WordPress fame.LegalZoom is a reliable resource that more than a million people have already trusted for everything from setting up wills, proper trademark searches, forming LLCs, setting up non-profits, or finding simple cease-and-desist letter templates.LegalZoom is not a law firm, but it does have a network of independent attorneys available in most states who can give you advice on the best way to get started, provide contract reviews, and otherwise help you run your business with complete transparency and up-front pricing. Check out LegalZoom.com and enter promo code TIM at checkout today for special savings and see how the fine folks there can make life easier for you and your business.***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.

Tobi Lütke (Shopify Founder & CEO), Kaz Nejatian (Shopify COO), and Balaji review how Shopify rose from tiny startup to $180B+ global economy, with an annual GMV on par with the GDP of New Zealand. In the process they touch on Hayek, the Hanseatic League, merchant cavemen, the history of the corporation, and the optimal level of platform decentralization. OUTLINE 00:00 - Introduction 02:39 - Shopify has the scale of a small country 08:49 - Lifestyle businesses take up your whole life 20:52 - SMBs can be harder than startups 27:13 - Shopify could invest in its merchants 32:23 - Shopify's economy is on par with Greece or New Zealand 38:40 - Money, time, risk, attention 39:55 - Is all retail a form of arbitrage? 47:14 - The history of the corporation informs the development of smart contracts 56:57 - Founders start as lead engineer, end up as chief psychiatrist 1:00:27 - Shopify is not just technology but community 1:06:26 - The concept of computational context 1:14:34 - Shopify as a dashboard for the global economy 1:22:48 - Atoms are so much more complex than bits 1:28:41 - Balancing centralized vs decentralized at Shopify 1:43:26 - If they could start a new country, what would Tobi and Kaz build? 2:03:28 - Kaz on working at Shopify 2:04:31 - Tobi's parting thoughts LINKS 1) 100 true fans: kk.org/thetechnium/1000-true-fans/ 2) Gobekli Tepe: smithsonianmag.com/history/gobekli-tepe-the-worlds-first-temple-83613665 3) Shopify active merchant: github.com/activemerchant/active_merchant 4) Fall of Civilizations: youtube.com/@FallofCivilizations 5) Founding vs Inheriting: thenetworkstate.com/founding-vs-inheriting 6) Shopify careers: shopify.com/careers VIDEO YouTube: youtube.com/watch?v=DfrhCGpRCPI CREDITS Editing: twitter.com/DholakiaJaydeep Images: twitter.com/elijah10T SOCIAL twitter.com/tobi twitter.com/CanadaKaz twitter.com/balajis thenetworkstate.com

In this enlightening discussion, Tobi Lütke, the visionary CEO and Co-founder of Shopify, shares insights into his unique leadership approach. He emphasizes the importance of continuous self-improvement and maintaining balance to combat burnout. Tobi reflects on his unexpected rise in tech, the role of motorsport in his life, and how it parallels business challenges. He advocates for the value of celebrating wins within startup cultures and explores the intricate relationship between personal happiness, ambition, and contentment.

Tobias Lütke, the visionary founder and CEO of Shopify, shares the fascinating journey of transforming a simple snowboard shop into a leading e-commerce platform. He reveals the hurdles faced while developing software for online sales, driven by his passion for snowboarding. The conversation explores how Shopify thrived during the 2008 recession, turning challenges into opportunities for entrepreneurs. Tobi also reflects on crucial leadership moments and the balancing act between rapid growth and personal responsibilities in the ever-evolving tech landscape.