O'Driscoll: Klarna needs public capital access while Stripe commands infinite cheap private money
Rory O'Driscoll · Rippling vs. Deel Lawsuit: WTF Happens Now? The Future of the Late Stage Private Market · 20VC with Harry Stebbings · May 22, 2025 · at 18:30
Rory O'Driscoll (Scale) contrasts why balance-sheet lenders like Klarna require public liquidity while top-tier tech firms do not.
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“If you're a Klarna, if you're a financial player where access to capital is really important, you know, you are fundamentally a lender. I think being public and having access to money in all its different ways makes sense. If you're a high growth AI company or something like Stripe, you have infinite private capital at dirt cheap rates. Why would you bother?”
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