The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 31 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Tobi Lütke: Shopify's internal AI 'River' performs a ludicrous amount of engineering
“If you're building a large scale AI system like we have one, which they think what river, which lives in Slack and does some Ludicrous amount of Shopify's engineering now.”
Shopify CDO Carl Rivera bans slideshows and pre-reads in design reviews
“And so what I enforce with Teams is that I never want to see a presentation, a slideshow in any of the meetings. I never want to receive a pre-read. I don't want any of the storytelling at the start. I'm basically of the view that every abstraction, every inse…”
Nejatian: Shopify contains no custom 'if enterprise' code for large clients
“We don't build bespoke software. There's no if enterprise line anywhere in Shopify's code base.”
Nejatian: Shopify requires marketers to use GitHub and salespeople to write SQL
“We don't have that at Shopify. At Shopify, if a marketer wants to create a new landing page, they have to go into GitHub. They have to know how to write some code. They have, like, this is a real thing, and our, so our marketers learn how to write some code. L…”
Tobi Lütke reviews every Shopify project on a two-month cadence
“Shopify has a product review cadence that's very special and different in that Toby reviews actually all of the projects every month, or so every month he reviews half of them, and then the next month he reviews the other half, such that on a two-month rolling…”
Shopify dropped 'UX' from designer titles under Chief Design Officer Rivera
“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.”
Lemkin: Kaz Nejatian left over $270M behind at Shopify to join Opendoor
“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?”
Lemkin: Shopify Cut Staff to 8,100 While Revenue Rose 91%
“From peak employee was 20, 22, 11,600 employees at Shopify. Since then, revenue has grown 91%. Pretty impressive for a company at eleven billion in revenue. And employees have gone down from 11,600 to 8100. Gone down while revenue's up 91%.”
Tobi Lütke: Shopify caps prototype projects at three people and six weeks
“In Shopify, like every project goes to multiple phases. There's a prototype phase, there's like there's a proposal phase before that. If proposal is accepted, you go to prototype phase, build, and then releasing. The prototype phase Is ideally time constraints…”
Shopify Remains One of Stripe's Largest Customers Instead of Building In-House
“They're certainly one of Stripe's largest customers, if not the largest, and yet it's a great relationship. And at any point, of course, Shopify could have brought that in house.”
Lemkin: 80% of Klaviyo's revenue is generated through the Shopify ecosystem
“80% of Klaviyo's revenue is off Shopify”
Lemkin: Shopify generates only 25% of its revenue from software
“Shopify is only 25% of its revenue from software and going down, right?”
Deeter: Adding Payments Doubled TAM and Market Caps for Vertical SaaS
“And as I think back on our vertical SaaS investments, you know, like a Shopify 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 these businesses.”
Lemkin: Shopify Generates $1.3 Million in Revenue Per Employee
“Shopify is at 1.3 million in revenue per employee now.”
Halligan: Shopify is the only SaaS stock outperforming Oracle and SAP
“If you go from that date and you look at you look at Oracle and you look at SAP, they're both growing, like, 230%. The only SaaS company since August 22 It's growing faster. Shopify. They're growing 300%. So they're outpacing HubSpot, Salesforce, Adobe Box, At…”
Coates: Shopify was first major SaaS platform to run secure third-party code
“And I, as far as I'm aware of Shopify was the first at scale SaaS platform to do that.”
Lemkin: Shopify ended 2022 with stronger numbers than it started
“Shopify at the end of 2022 was not the rocket ship. It was at peak COVID, but Shopify has stronger numbers at the end of 20 22 than it did at the start.”
Shopify starts all new employees with a 50% trust battery rating
“Everyone that comes to Shopify starts at a 50% trust battery.”
Shopify's platform powers two million merchant stores
“It's great that Shopify has two million stores.”
Shopify processes 10% of all e-commerce in the United States
“10% of all e-commerce in the United States is done via Shopify.”
Wilkinson: MetaLab designed Slack and worked with Shopify, Coinbase, and Pinterest
“Also worked with a lot of startups really early on, Shopify, Tumblr, Coinbase, Pinterest. We designed Slack.”
Rovio became Shopify's top store out of 10,000 within a week
“In seven days, the Rovio store was up and running on Shopify. Instantly, it became the top store in Shopify among 10,000 stores. They sold out their whole inventory in a week”
Tobi Lütke: Shopify IPO'd at $1.67B valuation and grew 100x
“The point was we went out at, I believe, 1.67 billion dollar valuation. And I think, yeah, I mean, at various times, not right now, I think, but like, I don't know. I don't check. It's like a hundred times higher now.”
Tobi Lütke: The investment banker who led Shopify's IPO is now CFO
“In fact, the banker who took me in public as my CFO right now, so like 10 years later, which is really funny.”
Lemkin: 70% of Shopify's revenue comes from payments, not SaaS
“I mean, 70% of Spotify, Shopify's revenue is from payments and merchant services, not from SaaS, 70%.”
Grimshaw: Tobi Lütke divested a Shopify acquisition within 18 months
“For Toby at Shopify to make an acquisition and then divest it With, I don't, I think within a year, maybe it was a year and a half, like not very long for an organization to say, to make a big move and say, nope, we made the wrong decision that fast and not ge…”
Salguero: ButcherBox is migrating its e-commerce platform to Shopify in 2023
“We're actually moving this year, we're moving to Shopify”
Levesque: Shopify embeds dedicated product and engineering teams inside its growth org
“We have a product org and an engineering org inside the Shopify growth org”
A new entrepreneur makes their first Shopify sale every 28 seconds
“Every 28 seconds, a new entrepreneur gets there for sale on Shopify.”