Stripe

“Actually, very famously a year and a half ago or so, we went to our fund one LPs. At that point in time, the fund one was 16 years old, and we had this position in Stripe that we invested at the seed stage. And we asked all of our LPs, like, hey, do you want l…”

“We have like nine of the 10 top Public tech companies as customers and like four of the six top banks and like Uber and Stripe and so on, all these companies using Sourcegraph for code search.”

“I don't find it crazy, honestly. Like I think when I was at Plaid and we were competing with talent for like Stripe, that felt like no harder than what I'm doing now.”

“Smart deal to try and do, but they're clearly not willing to overpay as they see it.”

“Stripe has fairly good terms. If you pay them back over a year and a half, if you pay them backwards in three months, time value of money and, you know, actual, and what was it internal rate of return for them or whatever, right? Like interest is kind of insan…”

“Actually like Stripe was very, very much this way where there are no boundaries around what a engineer could do versus a product manager could do versus a designer could do. Everyone could do anything.”

“I won't be surprised to see a huge wave of M&A of these businesses, because they're still good businesses fundamentally, or you can make them good businesses, And they just aren't going to be, like, Stripe, or these massive things that capture fundamental piec…”

“And billing's up 71%.”

“I think it will be the nail in the coffin for almost every public software company. And what I mean is when Stripe and data, like, okay, there's OpenAI, there's Anthropic, we can put them in a different category, right? They clearly are on many levels. When Op…”

“Their share count is down on three years ago, four years ago, which means they've been buying back stock.”

“They declared that in January.”

“Well, the story I heard is that once the Stripe thing got, like people started talking about the deal, open router volume tripled because basically like no one had heard of it, but like literally just talking about the deal was the greatest marketing they ever…”

“Like agentic commerce is going to be a really huge deal the next few years. So I would expect them to like make more moves in the agentic direction, especially in infrastructure.”

“They profited 1.5 for the company. Six of the seven and a half went to investors. One and a half was to the company.”

“I'm willing to bet Stripe will turn OpenRouter into money probably quicker than OpenRouter could do on a standalone basis.”

“It's a niche, it's a wonderful niche product, but in the world of routing, Which everybody does. Databricks does. Replit does it. Lovable does it. Vercel does it. It's a niche product with two really good niches, but this is the risk to Stripe, is that they en…”

“I think it'll be like the scale acquisition. It will be the start of something that gets bigger, whether this brand exists or whether even this product exists five years. I don't even think this product will exist in five years, but I think it will be, I think…”

“We created a company to do that, and MasterCard came and bought it. This was in 2013. And then all of our customers, and we had good customers, actually, back then Stripe and Lyft were a customer, and we did a lot of payouts to Lyft for Stripe. Ticketmaster wa…”

“Now I think the average AI company uses 11 different Stripe products.”

“And I think it was something like one in six users of free trials were, Abusive.”

“And I think it's today, I think it's 11 Labs recently told us that they're blocking 2000 free trial abusers per day using striped signals.”

“I don't know the exact percentages today, but it's not quite half, but we're getting there Fortune, 500 companies.”

“When you look at the year on your increase in usage of Stripe billing. It's actually a lot higher than usage of Stripe overall because it disproportionately skews towards people creating software companies.”

“I think a lot of companies have skewed in that direction where they've seen this new, you know, agentic efficiency and power as a way to optimize cost structure. You've saw some layoffs, you saw, you know, companies shrinking OpEx. And our belief is that it's …”

“And so we blogged about minions, I think in January, February, and they were doing 1200, you know, PRs per week. And last week, I think 7000 PRs came from minions. And about 30% of our PRs in that week came from minions.”

“You had, you know, a lot of layers that were sort of orchestrating work, and very valuably so, in most cases. Exactly. But you just don't need that anymore.”

“Stripe Projects was, you know, basically a PM and one of the, a very senior engineer, and a few weeks, and a couple of other engineers who jumped in as well. So I want to give them due credit, but most of the PRs came from one guy. It's got Alexander. Now he's…”

“If you have a line managed team of eight people, they're just doing three X more. So you might have the same manager to the manager to IC ratio, but the team is doing three things rather than one.”

“We have a tool internally called Kai, which is our sort of knowledge AI tool, and we, Built it, I don't know, maybe six months ago, two people built it. now, 83% daily actives or sorry, 83% weekly actives, about 60% daily actives at Stripe. seller productivi…”

“The new SaaS platform cohort is a 103% larger than in 26 than it was in 25.”

“Global filing was the next ask. You know, we just don't want to have to think about this in any market. And we built that in about a third of the time that it took us to get to US filing.”

“I think just checkout pages will go away.”

“We launched recently the Link Agent Wallet so that there's now just a Link CLI. So an agent can just sweep up Link credentials and go use them with You know, humans in the loop to say how they can use them.”

“Right now you can be a Stripe user in, I can't remember what the exact number is, but around 60 countries in fiat, but you can be a Stripe user in Sablecoins and I think about a 150 countries.”

“Still in the early stages of building out, getting a lot of great traction. You were working with companies like DoorDash, you know, making it sort of the default, but not only blockchain in Stripe and feeling very optimistic about it.”

“And so we actually invest a lot in simulating the usage And so you can point to an account and say, you know, give me something that looks like that. But make it, you know, completely PII, you know, free, you know, randomize the growth rates so I don't actuall…”

“Jesus Christ, it takes three to six months to get somebody at an enterprise to reply to your inquiry about selling them some software. You know, the enterprise sales cycle is what, 18 months? At best? You know, you want to add a new thing and plug it into SAP …”

“In the bull case, and you know, you've seen church from Cognition, Ramp, and Stripe, that the companies that are spending the most on AI are growing, growing meaningfully faster.”

“An analysis by the payments company Stripe, Tyler, look up Stripe, shows there are thousands of solo operators on the company's platform that are generating over one million in revenue, with their ranks doubling between 20 23 and 20 25.”

“I think it comes from them. Because first, they're still founder-led, or Revolut, also. They're still founder-led. Those founders are pushing the boundaries of all of this. They are at an age, and they are at a place, and if you talk to them, they're still as …”

“They basically signed up all the AI companies that are selling shit online, right? And they shouldn't be getting anything like the money they're probably getting from the open AI and entropics in terms of interchange fees. But who's got time to optimize that s…”

“From a business model perspective, in other words, the kind of front-end API to aggregate a lot of complexity, What Open Router does for LLMs, what Stripe does for money, and what Twilio does for telecoms.”

“I've been on the other side of Stripe deals. They do what you would expect. They offer an acceptable but mediocre price from a venture perspective, right?”

“On a TAM basis, a plus or minus a hundred bill, there's just more compounding in those five hundred million exploited Europeans.”

“I met Greg Brockman my co-founder, OpenAI, because I was a very early investor in Stripe when I was, like, I don't know, 22 or something, and they were, like, this was before they had, you know, like, real investors that could really help them, and they said, …”

“The Information has a big Stripe financial scoop that is worth discussing because. We have not discussed Stripe in a while and it is trying to buy PayPal.”

“Free cash flow surging to 3.2 billion.”

“If they had gone public like a normal company a bajillion years ago, they could have been a truly important general generational company because they could have used the currency to buy everyone.”

“So what they're doing for this PayPal takeover offer, which, you know, is, is just that, like, no sign that any deal is done, and I'm sure other bidders will emerge and whatever, but they're teaming up with Advent, which is a private equity firm,”

“Like agents are not spending money in any meaningful way on the internet yet. Other than for tokens to be clear, but for things other than tokens, we like agentic commerce does not exist yet. And so there is a something coming when that, Whatever that takes fo…”

“They both process kind of 1.8 trillion dollars a year, right?”

“Stripe supports revenue net, which is around six billion plus or minus.”

“It's between 20 and 30, so it's not that much bigger, Jason.”

“The board rejected it, right? And the fact that the board rejected it means to me that they're going to accept it.”

“So it's probably just a dance from 28 to 35. And then it gets parked with advent to while they figure out antitrust and capital issues.”

“What is the only kind of baby that Advent and Stripe and Block could have together? And I think there's one, which is you are creating a competitor to Visa and MasterCard.”

“And I think they're doing about two trillion a year of annual transaction volume. I think PayPal is doing 1.7”

“This is the exact reason why if this had happened two years ago, this would have been the antitrust equivalent of a colorectal exam. I mean, you would not even get one step close to doing this deal two years ago.”

“If you could make PayPal even run half as well as Stripe, that's probably worth double what it's currently worth.”

“The basic structure of the deal is as follows. Fifty three billion for all of PayPal. 60 dollars and 50 cents per share offered. 28% premium over yesterday's closing price. But it's a steep discount to last year's valuation. Fifty billion has been committed in…”