Shopify, every mention
408 scenes, the whole family · ← back to Shopify
tap a year for its mentions
every year anyone Harry Stebbings 336Jason Lemkin 110Kaz Nejatian 86Harley Finkelstein 60Glen Coates 27Carl Rivera 22Jean-Michel Lemieux 21Tobi Lütke 17Tobi Lütke 14Rory O'Driscoll 14
Verbatim, from the transcripts: the passages where Shopify comes up
How to Build Your Own Data Center & Why Every Startup Should Do It
- ▶ 54:52 Cliff Weitzman There was a really good presentation that Brett Taylor did a screen share of him building a guitar store on Shopify and how he uses Sierra to do customer support and sales and everything else.
ClickHouse CEO: AI Margins Need to Improve | Revenue Concentration Should be a Concern
- ▶ 49:39 Harry Stebbings Shopify still use Stripe at the scale that Shopify's at, and actually most often you just don't because it's not your core business.
Stripe's $8B OpenRouter Bet | Anthropic's First Profit & The Math Behind Reaching $600B in Revenue?
- ▶ 55:43 Jason Lemkin They are a toll keeper, right, like a Shopify, but they're pretty open. 2 times in the scene
Uber President on Travis, China & Self-Driving | Why Autonomy Is Existential | How to Beat DoorDash
- ▶ 44:54 Harry Stebbings Like if you look at your Shopify's and the generation that you're in,
Canva Slashes Growth | Talent Exodus at Google | Revolut's $50B CEO Package | Musk's $55B Terrafab
- ▶ 1:18:49 Jason Lemkin Listen, if I'm not an expert on whatnot, uh, I could speak more to Shopify, which blew out its quarter too, right?
- ▶ 1:20:34 Harry Stebbings If I want to shepherd us Shopify, we mentioned blowing out the quarter Atlassian blowing out the quarter, but biggest jump since. 2 times in the scene
Wix Founder: Will Base44 Win the Vibe-Coding Wars? | The Truth About the Economics of Vibe-Coding · 20VC with Harry Stebbings
- ▶ 0:00 Avishai Abrahami You're not gonna vibe code Shopify, no matter how good you are.
- ▶ 20:16 Avishai Abrahami You're not going to vibe code Shopify, no matter how good you are.
Enterprises Fear Frontier Models | Sam Altman Offers Trump 5% of OpenAI | DeepSeek Builds Own Chips · 20VC with Harry Stebbings
- ▶ 7:38 unnamed speaker It's like, you know, you give five percent of your company to Shopify, like Klaviyo, like Klaviyo did so that they don't destroy you. 2 times in the scene
How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
- ▶ 7:37 Paul Erlang And we talked about this and we were talking about Shopify and how amazing that was that retail investors got private scale returns in the public markets when it launched at what, two billion and is where it is now.
Nebius Co-Founder on AI Infrastructure Bubbles | How Price Elastic is Demand for Compute · 20VC with Harry Stebbings
- ▶ 45:19 unnamed speaker And I think we'll see a lot of explosive growth, uh, in enterprises, in the digital, including like in the cloud companies, in the cloud native companies like Revolut, Shopify, Prosus.
Anthropic Raises $30BN at $900BN Price | SpaceX Files S1: How Does it Trade | Cerebras Smashes Day 1 · 20VC with Harry Stebbings
- ▶ 19:29 Jason Lemkin Klaviyo is arguably the single most beaten down public company software stock because of the Delta from Shopify. 2 times in the scene
- ▶ 29:04 Jason Lemkin That's where their growth was from merchant services, payments, e-commerce. 5 times in the scene
Anthropic's Raise & What It Means for Potential IPO? Mag7: Google & Amazon Up, Meta & Microsoft Down · 20VC with Harry Stebbings
- ▶ 16:08 Jason Lemkin It hurt Shopify this quarter, but when you have these windows and you don't have to be like Jeff Bezos in the day, convincing wall street to let you spend when wall street lets you spend, it doesn't punish your stock.
- ▶ 37:30 Jason Lemkin Some Shopify dev shops will 2 times in the scene
Shopify CEO on How AI is a Scapegoat for Mass Layoffs & Trump Derangement Syndrome in Canada · 20VC with Harry Stebbings
- ▶ 0:12 Harry Stebbings He's the founder and CEO of Shopify, a hundred and sixty billion dollar public company. 2 times in the scene
- ▶ 1:46 Harry Stebbings The first question is not tell me how you started Shopify. 2 times in the scene
- ▶ 7:16 Tobi Lütke Um, Shopify is remarkably high on aids because I really seek them.
- ▶ 12:36 Tobi Lütke Shopify's, um, revenue, I wanna say, I mean, I'm sure people are gonna laugh because I'm getting these numbers wrong, but, like, 4 times in the scene
- ▶ 16:29 Harry Stebbings When we think about today, how many people do you have in Shopify around number? 2 times in the scene
- ▶ 22:26 Tobi Lütke It's building at Shopify.
- ▶ 31:15 Tobi Lütke Someone starts a Shopify store, sells a new thing, ethically sourced leather jackets, whatever.
- ▶ 43:42 Tobi Lütke It's like, Canada Goose, Lululemon, Shopify, maybe Miller Lite.
- ▶ 55:05 unnamed speaker In fact, I'm actually enormously emotionally attached to Shopify.
- ▶ 1:01:30 Tobi Lütke Ludicrous amount of Shopify's engineering now. 3 times in the scene
- ▶ 1:02:00 Harry Stebbings What percent of code today at Shopify is AI generated?
- ▶ 1:11:59 Tobi Lütke Um, I own six percent of Shopify. 6 times in the scene
Cursor Acquired for $60BN | Anthropic Hits $1TRN in Secondary Markets & Figma, Adobe, Canva Dead? · 20VC with Harry Stebbings
- ▶ 1:26:34 Jason Lemkin Um, Salesforce, Shopify,
Why You Need a $1B Fund To Do Series A | SpaceX at $2TRN & Data Centers in Space | Groq's $20BN Deal · 20VC with Harry Stebbings
- ▶ 27:31 unnamed speaker I should build software and sell it to retailers so they can kind of move on to the Internet, build Shopify, right? 3 times in the scene
Gokul Rajaram: How to Analyse for Durability and Defensibility in a World of AI · 20VC with Harry Stebbings
- ▶ 10:49 Gokul Rajaram Shopify is a great example. 3 times in the scene
- ▶ 13:48 Harry Stebbings Like when you look at bluntly the ability for public companies to build good agent products, it would seem very obvious that Shopify will bluntly build Klaviyo now in the need to re-accelerate. 7 times in the scene
- ▶ 44:59 Gokul Rajaram I remember seeing Shopify at a billion and I was like, how many, how many, 3 times in the scene
Anthropic vs The Pentagon: Who Wins? | The Data Center Arms Race | The Ultimate Stock Picks · 20VC with Harry Stebbings
- ▶ 1:07:18 Jason Lemkin Mine were Palantir, Cloudflare, Shopify, and CrowdStrike. 2 times in the scene
- ▶ 1:15:57 Jason Lemkin And so my, my fourth one, Palantir, Cloudflare, Shopify, it's just the math.
Mitchell Green: Why 50% of VCs Should Not Exist · 20VC with Harry Stebbings
- ▶ 55:54 Mitchell Green Look at Shopify.
- ▶ 1:02:32 Mitchell Green We also got two million dollars in the Shopify IPO, because we knew the founders.
Anthropic vs The Pentagon: Who Wins? | OpenAI's $110BN Mega Round | Cursor Hits $2BN in ARR · 20VC with Harry Stebbings
- ▶ 43:11 Harry Stebbings I think Toby at Shopify is one of the most brilliant 2 times in the scene
Citrini Research Breakdown: Agents, "Ghost GDP", Consumer Spend | Figma Earnings Beat · 20VC with Harry Stebbings
- ▶ 7:06 Jason Lemkin You mocked me for saying Shopify is at partial risk of disruption, and I said it's not at total risk of disruption, but the fact that whoever builds the agentic layer, more and more value is going to accrete to them, is you only have to…
- ▶ 14:35 Harry Stebbings Toby's a brilliant CEO at Shopify. 3 times in the scene
- ▶ 47:54 Jason Lemkin And I think Shopify is on top of these things. 3 times in the scene
- ▶ 1:06:42 Jason Lemkin And they're ones you might not want to buy, but they're basically Palantir, Figma, Mongo, um, Cloudflare and Shopify. 6 times in the scene
Thrive Raises New $10B Fund | OpenAI Buys OpenClaw | Stripe at $140B: Is Adyen Wildly Undervalued? · 20VC with Harry Stebbings
- ▶ 17:33 Jason Lemkin Maybe Shopify is oversold, maybe Navon is oversold, but overall, it's not, even for Mike Cannon-Brooks, it's not great for Atlassian, if we're all going to shrink our team's
- ▶ 21:43 Rory O'Driscoll If you take something like Shopify, I'm going to say it. 14 times in the scene
- ▶ 1:33:53 Jason Lemkin Shopify was my top one. 6 times in the scene
Anthropic's Super Bowl Ad: Who Won & Lost? | Sierra Hits $150M ARR: Is Customer Support Too Crowded? · 20VC with Harry Stebbings
- ▶ 24:48 Mike Cannon-Brookes Toby from Shopify.
The SaaS Massacre: Public Market Collapse |Microsoft Lost $360B & NVIDIA’s $100B Dispute with OpenAI
- ▶ 18:23 Harry Stebbings You know, Shopify down 25%.
- ▶ 38:49 Jason Lemkin It's very hard, unless you're Shopify, to build a massive platform of third-party agents on top of what you're doing, and it's very easy for Salesforce, which is very enterprise, to attract that, that, that talent, right? 8 times in the scene
- ▶ 46:20 unnamed speaker But again, to your point, Shopify, even though it's SMB, the natural churn, there's nothing you can do about, but you probably provided you're still alive as an SMB, you're probably going to be slow to change our Shopify because it's not… 2 times in the scene
Anthropic Inference Costs Skyrocket |TikTok Deal Closes |The IPO Market:Wealthfront & EquipmentShare · 20VC with Harry Stebbings
- ▶ 1:15:22 Jason Lemkin We are Shopify has held headcount flat for three years and grown 40 something percent in that time.
20Growth: The $6.6B Growth Engine Behind ElevenLabs | Why ElevenLabs Do Not Have PMs | The 7 Part Launch Playbook to Crush All Launches with Luke Harries, Head of Growth @ ElevenLabs
- ▶ 14:09 Luke Harries So we have a head of performance marketing who used to lead performance marketing for Shopify.
Groq’s $20BN NVIDIA Deal | Why Sam Altman Doesn’t Care About Dilution & Invisible Unemployment 2026 · 20VC with Harry Stebbings
- ▶ 1:16:09 Jason Lemkin It's, um, Shopify saying for the third year in a row, they can hit insane growth without adding, adding, any headcount for the third year.
Predictions for 2026: Top Buy & Biggest Short | Why Salesforce Could Win & NVIDIA’s Challenges · 20VC with Harry Stebbings
- ▶ 39:32 unnamed speaker So I'm going to bet Palantir, Cloudflare, Mongo, Shopify, CrowdStrike, and Snowflake. 4 times in the scene
Base44’s Founder, Maor Shlomo on How Vibe Coding Will Kill SaaS · 20VC with Harry Stebbings
- ▶ 15:35 Maor Shlomo You want to integrate with, like, a full back-end, like, what Wix has or Shopify or whatever.
20VC: Max Altman on The New Seed War: Can Anyone Compete with Sequoia and a16z | Leaving $2BN on the Table with Reddit | Lessons from Backing Rippling at $25M Post | Why Climate Tech is a Mirage and Disaster
- ▶ 56:14 Max Altman Yeah, and I think there are a few examples where they just have got- Shopify and Stripe, partnership of the decade.
20Product: How AI Changes Product Design | Does the Design Phase Become Irrelevant in a World of Vibe Coding | The Five Pillars of Truly Great Product Design with Carl Rivera, Chief Design Officer at Shopify
- ▶ 0:10 Harry Stebbings I was first joined by this guest over nine years ago when he was the founder of Ticktail, a company that Shopify later acquired. 2 times in the scene
- ▶ 9:56 Harry Stebbings In what way do you think Shopify is highly opinionated? 5 times in the scene
- ▶ 14:20 Harry Stebbings How do you structure product teams within Shopify? 4 times in the scene
- ▶ 14:42 Carl Rivera You have POS, which is how we sell in person.
- ▶ 21:14 Harry Stebbings When did you try too hard on design, do you think, within Shopify?
- ▶ 25:15 Carl Rivera And I think this shift happened where the companies that held their own distribution, companies like Meta, like Google, but also companies like Shopify started to favor where they were already established. 2 times in the scene
- ▶ 27:37 Carl Rivera I'll use Shopify as an example, but you can pick others like Stripe is a great example. 5 times in the scene
- ▶ 34:55 Carl Rivera Where you're not doing the obvious, but you're doing the unobvious, but correct, and creating an experience that is like memorable, that stands out, that makes Shopify feel different than any other commerce platform out there. 2 times in the scene
- ▶ 35:47 Carl Rivera They've been entirely constructed and built using our Polaris components to build it into a real prototype using real data and all of that.
- ▶ 36:48 Carl Rivera The only tool that we mandate is the internal tooling of Shopify, which is called GSD, which is how we account for time, projects, tie them into missions, make sure that everyone's moving in the same direction. 4 times in the scene
- ▶ 40:17 Carl Rivera The way we overcome this at Shopify is by bringing teams together intentionally.
- ▶ 44:59 Carl Rivera And then I came into Shopify and I sort of went into hiding a little bit. 3 times in the scene
- ▶ 46:48 Harry Stebbings Shopify's value accretion has been amazing, and the market cap today is incredibly deserved, but awesome. 6 times in the scene
- ▶ 52:08 Carl Rivera Shopify wants and make sure that we kind of figure out how to then distribute this data to the right providers at the right time.
- ▶ 56:26 Carl Rivera And so, for instance, I announced when I took on the chief design officer role in Shopify that we're dropping UX from the designer title, and we're only going to be designers working at Shopify. 2 times in the scene
Is a $4.5BN Exit Enough in VC? & Harvey Raises $150M & Why Google is a Buy and Amazon is a Sell · 20VC with Harry Stebbings
- ▶ 7:49 Jason Lemkin If you thought you had Aviva in your pocket or Shopify, maybe, Bessemer didn't, maybe a whole longer, but for sanity's sake, and also to manage float, right, because you can only sell so much if you own a large stake, that was a rough rule.
- ▶ 47:23 Jason Lemkin But Shopify, which is a competitor right on the other side of the house, it blew it out. 2 times in the scene
20VC: Tim Ferriss: Why I Walked Away From Angel Investing After Uber | How I Accidentally Lost $150 Million | Money Fixed My Problems—Then Made Me Miserable
- ▶ 39:30 Harry Stebbings It's Duolingo, it's Uber, it's Shopify, it's Facebook, it's insane, and you, honestly, it's not discussed much, which I find strange.
- ▶ 46:12 Tim Ferriss I talked to a couple of people who were doing advising, and I figured out how to begin stepping into advising, and ultimately, with Shopify becoming an advisor when they had whatever it was, 10 or 12 employees, and then becoming an advisor…
- ▶ 48:28 Tim Ferriss Shopify could have been just as big, but I sold a lot of my Shopify as soon as lockup expired because I had no experience with public markets. 4 times in the scene
20VC: The Startup Adding $1M ARR Every Week | Competing Against OpenAI's Codex and Claude Code: Who Wins | Why Gemini is Failing and GPT-5 Is Winning | Do Margins Matter in a World of AI | The Ugly Truth About AI Coding with Zach Lloyd, Warp
- ▶ 1:06:52 Zach Lloyd And by the way, I think Shopify could also, you know, be big in this space eventually.
Atlassian CEO, Mike Cannon-Brookes on Why Everything is Overvalued & Are We in an AI Bubble · 20VC with Harry Stebbings
- ▶ 51:31 Harry Stebbings And it made me think of a quote once that a brilliant founder told me, I think it was Toby at Shopify, that said, like, this is a game of who can survive the longest.
OpenAI's Multi-Billion Deal with AMD & Polymarket, Vercel and Supabase Raise Mega Rounds · 20VC with Harry Stebbings
- ▶ 5:16 Jason Lemkin Of Shopify and Stripe, and Toby was so angry in his mind that he put Stripe on the board that then he went to Klaviyo and said, listen, I'm going to do the same thing for email that I did with payments on Shopify, but you got to give me… 2 times in the scene
General Catalyst CEO, Hemant Taneja: Lessons Scaling GC to $40BN in AUM · 20VC with Harry Stebbings
- ▶ 1:28:58 Harry Stebbings Uh, yeah, uh, out of Shopify, amazing guys, um, love them, fantastic, well done.
20VC: Why 90% of Founders Build Startups Wrong | Why AI Growth Rates are Sustainable & Remote Work is BS and the AI Talent War | Competing with Brett Taylor and Sierra: Who Wins the Customer Service War with Jesse Zhang, Decagon
- ▶ 29:39 Harry Stebbings Shopify and Stripe's a great example, I think.
Opendoor CEO, Kaz Nejatian: OpenAI and Oracle, How Can Either Afford to Do This · 20VC with Harry Stebbings
- ▶ 0:09 Harry Stebbings Kaz, from CEO of Shopify to now CEO at Opendoor. 2 times in the scene
- ▶ 1:15 Harry Stebbings Uh, my mother even loves these shows now, which I think is incredibly heartwarming because, um, she listens to everyone, but we're going to start on news item number one, which is Kaz from CEO of Shopify to now CEO at Opendoor. 6 times in the scene
- ▶ 4:51 Kaz Nejatian Um, when I was at Shopify, it was Shopify. 3 times in the scene
- ▶ 13:03 Kaz Nejatian Let me, you know what the funny thing is, um, Shopify is a notoriously bad business. 4 times in the scene
- ▶ 16:03 unnamed speaker Yeah, it's the, that, I didn't really fully get the, um, Shopify analogy until just then, but Shopify is only 25% of its revenue from software and going down, right? 2 times in the scene
- ▶ 22:21 Harry Stebbings When you did, made the decision, you have a huge amount on the table at, at Shopify, and you left that for this.
- ▶ 41:15 unnamed speaker I'm confident, like, Kaz just left hundreds of millions of dollars behind at Shopify, ok?
- ▶ 53:13 unnamed speaker You know, leaving two hundred million behind at Shopify and another 70 something million in grants and what he might still get, you could only do that if you're post-economic, right? 2 times in the scene
- ▶ 1:32:13 unnamed speaker Going to, uh, going to Kaz's point with Shopify, I only need one seat to run my whole freaking store, right?
Anthropic Raises $13BN & OpenAI Buys Statsig for $1.1BN All Stock · 20VC with Harry Stebbings
- ▶ 59:38 unnamed speaker And that's where Farhan at Shopify was pushing it, like up to 10,000 dollars a month.
BVP Partner, Byron Deeter: The Future of Venture - Why Chanel vs Walmart is BS · 20VC with Harry Stebbings
- ▶ 5:17 Byron Deeter And in a business like a Stripe or a Twilio or Shopify, um, they went through those journeys as well.
- ▶ 10:51 Byron Deeter And as I think back on our vertical SaaS investments, you know, like a Shopify, um, or a Service Titan or a Toast, when they added payments, it became that big Next Horizon unlock for them and really doubled the TAM and the market caps for…
- ▶ 18:19 Harry Stebbings We've seen, I mean, one of your companies, Shopify, uh, unbelievable, like, 91% revenue growth in the last few years.
- ▶ 51:22 Byron Deeter We own 28% of Shopify and Twilio at IPO and we owned, you know, well less than that of, uh, of Procore and Service Titan just because we, we, you know, included a lot of other investors downstream.
- ▶ 56:05 Harry Stebbings You said about 28% of Shopify at IPO. 3 times in the scene
Databricks at $100BN, CoreWeave’s $11B Debt Bet & Nubank’s $2.5B Profit Shocker - Ep.19 · 20VC with Harry Stebbings
- ▶ 1:13:46 unnamed speaker And Jason, your comments, I thought last week on Shopify with a bomb,
Sam Altman's Masterplan or a Gift to Anthropic? Palantir & Shopify Crush Earnings · 20VC with Harry Stebbings
- ▶ 0:08 Jason Lemkin You don't need half your company and Palantir and Shopify are proving it. 4 times in the scene
- ▶ 45:41 Harry Stebbings Shopify are ripping. 7 times in the scene
- ▶ 57:02 Jason Lemkin And if you can come to work, but take care of yourself, everybody take care of, and then Shopify had twice as many employees at the peak as it has today. 9 times in the scene
- ▶ 1:07:44 Jason Lemkin I mean, I know the Shopify data and Palantir there. 9 times in the scene
Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
- ▶ 46:17 Harry Stebbings And I actually look at like a Shopify of the world.
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