Everything Jeff Weinstein said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Weinstein ranks the three best methods for adopting customer mindset
“Best is if it's you and you're your own customer. Okay. Second best would be sitting right next to the customer in the outside world. And then like, okay, fine. I'll take a third best, which is pantomiming the customer. And with a zero with enforcing, you don'…”
Weinstein: Reducing incorporation friction and cost directly increases startup creation
“We found over and over again that increasing the ease and simplicity and decreasing the cost and complexity tends to lead to just more of that thing. And we have a fundamental belief that there should be more startups and they're not finite.”
Weinstein: 2024 Stripe Atlas startups hit $50M revenue twice as fast as 2023 cohort
“We have the sort of cohort of 20, 24 startups and Atlas got to fifty million dollars in revenue twice as quickly as the cohort in 20, 23.”
Weinstein: 55,000 Stripe Atlas companies generate $5B in annual revenue
“Companies that have started through Atlas has been 55,000 of them to date are doing five billion dollars a year in revenue.”
Weinstein: Stripe Atlas operates with a total team of 10 people
“Atlas is in total, 10 people.”
Weinstein: Atlas only takes on work it can fully automate
“And we just don't pick up work. We can't automate because we know that we need the leverage. And so we're not going to tackle We're not going to put ourselves in situations in which we have to compete to be the best. We're going to put ourselves in situations …”
Weinstein: Team diversity is an up-funnel recruiting pool problem
“It's not a down funnel problem. It is an up funnel problem and where you have to just make sure that for each role you're comfortable with the outlet, like with the distribution of people and backgrounds in your candidate pool and go from there.”
Weinstein: 20% of Atlas founders say they wouldn't have launched without Stripe Atlas
“We ran a survey a little bit ago. We need to rerun this where we just ask people what they have started their business about without Atlas and about 20% of people said they wouldn't have or wouldn't have had then.”
Weinstein: Proof of existence beats theoretical proof or debate in product development
“I find proof of existence to be an incredibly powerful proof rather than proof by theory or proof by Debate. It's just like, look, we did it one time.”
Weinstein: Product quality and tweets mean nothing without proven economics
“You can't just have half the story of just the product quality and the tweets. You have to have the economics.”
Weinstein: Company incorporation inevitably becomes an efficiency and cost problem
“This company starting process is going to become a efficiency cost problem. And there's so much long tail complexity with dealing with multiple financial institutions, multiple government processes, all of this legal complexity that it will be, and it's diffic…”
Weinstein: AngelList offered Stripe Atlas their incorporation business upon exiting
“And he said, Hey, we're going to get out of incorporation. This is not going to be our focus going forward. Do you want the business? It was like a year and a half after, after they had really gone out or maybe two years after they gone out or something like t…”
Weinstein: Stripe will never regret investing in API latency and reliability
“We'll never regret spending time making the latency of our payments APIs at Stripe faster. We'll never regret making it more reliable to send AB three B election mails to the IRS. Like we will never regret those things. So let's just always compound those capa…”
Weinstein: Stripe's country and payment method additions were flat for 7–8 years
“And for the first. Seven or eight years of Stripe well prior to my being here, you know, the incremental country ads and the incremental new payment methods was relatively flat over time.”
Weinstein: Stripe Atlas had a bug granting 25 shares instead of 25%
“We had this bug in which for a handful of our legal docs, they were handing out, let's say, 25 shares rather than 25% of the shares. We dropped the percentage sign, and thankfully, a founder noticed this in the docs and tweeted about it.”
Weinstein: Stripe crowdsourced 65 bug videos from a single tweet
“We ran our first program, we got 65 videos, which we did we found dozens of issues, which we did It was an incredibly valuable use of our time, and it really came from just a single tweet.”
Weinstein: Stripe Atlas grew zero-ticket completion from 15% to 85%
“And over about 18 months, we took that number from 15% to 85.”
Weinstein: Nearly 100% of Stripe Atlas risk reviews complete within an hour
“And now basically a hundred ish percent of people get their risk review within an hour from, you know,
A long tail taking a long time.”
Weinstein: Concise, emotional metric names drive team alignment and buy-in
“The brevity and the focus and the customer
Mindset built into the chart name can become currency inside the company. It's like, oh, I'm working on making the, like this chart go up and it feels good to just say the name out loud rather than some complicated un…”
Weinstein: Product entropy inevitably breaks smooth customer workflows as companies scale
“Anyone who's built a product that has. Gone over the horizon of it's actually in production and being used for some, you know, a year or more as you go to iterate on it, especially when you're in a larger company and there's multiple teams and multiple product…”
Weinstein: Stripe requires teams to acknowledge P0 craft bugs within seven days
“We have a rubric of craft related tags for our bug system, and if it is a sort of a P zero bug, which is not an incident, right? It doesn't mean just put down your pencils. You do need to acknowledge it at Stripe within seven days.”
Weinstein: Instacart signed up for Stripe with a Gmail address
“Instacart signed up for Stripe with a Gmail address”
Weinstein: Stripe Atlas automates company creation into a single click
“When this podcast airs, I guess today it will be true that when you go to start a company on Atlas, it will just be a single click. You go to type in your friends' names, how, what the name of the company will be. It'll tell you if it's available automatically…”
Weinstein: Stripe Atlas maintains an 80+ NPS with a 50% response rate
“Atlas in the eighties with almost 50% response rate is quite high.”