The Ledger, every show

“It is not good for early career people. We can actually measure it in our productivity data before the whole discussion about remote work happened during COVID, and it's bad from a work point of view.”

“The thing that we have seen, and interestingly, we measured this before COVID, because we were doing a lot of remote hiring, and we wanted to see how much we should lean into it, is that it is not good for early career people. We can actually measure it in our…”

“Bitcoin is kind of inefficient enough that it uses 40 times the power of the Visa network, despite kind of a much lower throughput than the Visa network.”

“My biggest takeaway from all this Has been that around agency where I feel like high agency people are the winners of the advances in AI and within organizations, low agency people will lose out.”

“High work ethic people. Who maybe weren't the best engineers you know, previously or now, those people are massively ascendant, as far as I can tell, because they suddenly got the exoskeleton, you know, and like, they always have the ideas as to what we should…”

“Stablecoin issuers will, in a similar way, be large buyers of U.S. Debt and create more dollar strength.”

“GDPR alone is estimated to have reduced profits for small tech firms in Europe by up to 12%.”

“In our view, agents will most likely soon be responsible for most internet transactions, and will likely need blockchains that support more than a million, or maybe even more than a billion, transactions a second.”

“Crypto enabled transactions are going to be a very large part of the economy and just stripes business in the relatively near future.”

“People still have no idea how big stable coins are going to be. And I think they discount us because it feels like it's a lot of hype right now, but we're going to look back when stable coins are a hundred times bigger and just think of this moment as so cute.”

“It feels like step one is, that's going to happen with agentic commerce is, I feel like existing aggregators, if just aggregation is their raison d'etre, then they're going to have a lot of, ah, questions that they need to answer, because ChatGPT and the AI ap…”

“I think there'll be something similar with stable coins where they'll be offered at the point of checkout way before people Become super familiar with them, but we're probably only a small number of years away from some mass market.”

“We are profitable, yeah. And profitable on like a fully loaded gap net income basis, not like a community adjusted EBITDA stuff.”

“And if you look at how the fraud systems that actually back your credit card work today, what happens is, you know, so you have a chaser bank for America or whatever credit card. And there's a set of neural networks that were trained and you're like, oh, cool.…”

“Businesses on Stripe generated 1.4 trillion in total payment volume in 2024, up 38% from the prior year and reaching a scale equivalent to around 1.3% of global GDP.”

“More than 700 AI agent startups launched on Stripe last year, a figure that we expect will be substantially eclipsed by the total in 2025.”

“Last year, businesses running on Stripe generated 1.9 trillion in total volume, up 34% from 24, an equivalent to roughly 1.6% of global GDP.”

“Economy-wide, demand for software, computers, and data center investment drove nearly half of all U.S. GDP growth in 2025, and will likely soon be a majority of all U.S. Growth.”

“The number of companies reaching ten million in ARR within three months of launch was double that of the 24 cohort.”

“In 25, the price of Bitcoin dropped precipitously and is now 50% down from October, but stablecoin payments volume doubled to around 400,000,000,060 percent of which is estimated to represent B to B payments.”

“Klarna, whose CEO was once a self-proclaimed crypto skeptic, became the first bank to launch a stablecoin, Klarna USD, on the Tempo testnet, using Bridge's open issuance to facilitate faster and cheaper cross-border settlement.”

“Only 41% of small business loan applications were approved in the US last year, down from 50% in 2015.”

“Businesses that received and accepted capital offers grew, on average, 27 percentage points faster over the following year than the otherwise equivalent businesses who didn't.”

“Maybe what we're describing is a bunch of swim lanes Have been established by random accidents of software and org charts and everything like that. You do customer service. When people come with a query as of a non-commercial nature, you are an SDR. You know, …”

“Elon's companies have always been very capital efficient and like build a bad one and then build a good one. And so the boring company bought a commercial tunnel boring machine before they started developing their own. Tesla had the master plan where they buil…”

“I think at Stripe we, ah, we're, we found we're shipping 30% more code.”

“The way we see the world, there is no revenue platform right now, and if you look at all the products that we have been building, better analytics on the revenue data that you have in Stripe, a source of truth billing system, things like that, it's moving in t…”

“I think every AI product will need, you know, they probably want to have some all you can eat, most of what you can eat, subscription with limits, and then the ability to pay for overages.”

“The rate for sports betting companies is around 10%, and the order of magnitude for prediction markets is, you know, one percent or a few points.”

“Still in twenty-twenty-six, if you open a new Gemini chat, or if you open a new ChatGPG chat, it's basically a blank slate. There's no memory.”

“Stripe's revenue and finance automation suite, with billing at its core, has now passed a five hundred million dollar revenue run rate.”

“From top corporate leaders, half of the Fortune 100 uses Stripe. To hyper-growth companies, we count 80% of the Forbes Cloud 178% of the Forbes AI-fifty as customers. To newly formed upstarts, one in six new Delaware corporations incorporates with Stripe Atlas…”

“In aggregate, the revenue that businesses process on Stripe is growing seven times faster than that of all companies in the S&P 500.”

“Cursor, the AI-powered coding assistant, raced to over one hundred million dollars in recurring revenue in just three years.”

“We're also seeing the likes of Lovable, which hit seventeen million dollars ARR in just three months, Bolt, achieving twenty million ARR in two months, and Kodo, radically lower the barrier for turning software ideas into working applications.”

“Today, 60% of all small businesses in America use vertical SaaS platforms to help run their business.”

“When a credit card is used for a payment, there is a greater than 92% chance that Stripe has encountered the same card before.”

“SpaceX uses Bridge to repatriate funds from Starlink sales in Argentina, Nigeria, and other markets.”

“Stablecoin transaction volumes more than doubled between Q four, 20, 23 and Q four, 20, 24. And the number of monthly active stablecoin wallets has now reached forty million.”

“We further note with interest that despite regulatory uncertainty in the United States, early stablecoin adoption has shown a notable US dollar preference, with an estimated 99% of stablecoin balances being USD-based.”

“While the economies of the US and Europe were similarly productive in 1990, there has since been a stark divergence, with US productivity per hour works reaching 104 dollars, as compared with a plateau of something closer to 85 dollars per hour in Europe.”

“Our programmable financial services now power more than five million businesses directly or via platforms, including all the top AI companies, many of the largest blue chip companies, 90% of the Dow Jones Industrial Average, most of the biggest tech companies,…”

“25% of all Delaware corporations are now created with Stripe Atlas.”

“Stripe remained robustly profitable in 25, allowing us to continue investing heavily in product development, with over 350 product updates over the last year, as well as acquisitions.”

“Metronome joins our revenue suite, comprising Stripe billing, invoicing, tax, and more, Which is on track to hit an annual run rate of a billion dollars this year.”

“Today, the most profitable third of publicly listed companies in the United States accounts for two-thirds of the total market capitalization, the highest share since data began in 1963.”

“Pushes to GitHub, which grew roughly 10 to 12% in prior years, jumped 41%. Between Q. Three, 24 and Q. Three, 25.”

“Of businesses on stride that earn most of their revenue internationally, 30% of that revenue comes from countries that are neither their home market nor one of the top 10 global economies.”