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20VC: Lessons from Mark Zuckerberg, Keith Rabois & Tobi Lütke | Why Remote is a Bad Idea for 90% of Companies | The Framework for How Shopify Builds Product Today | What Humans Get Wrong About Marriage and Kids with Kaz Nejatian, COO @ Shopify
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Lessons from Tobi Lutke
Emphasizing clear prioritization is crucial for long-term success in a company. Shopify maintains three core priorities: building great products, making money, and using that money to continue product development, ensuring that the first two priorities remain unchanged. This steadfast approach is particularly challenging yet essential for a large publicly traded company. Additionally, the focus on high-quality outputs often leads Shopify to delay the release of products, prioritizing quality over speed compared to competitors. While this might seem inefficient in the short term, it proves to be a strategic advantage when considering the longevity of the products, effectively utilizing resources for sustainable growth rather than immediate gains.
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