Collisons: Stripe chose percentage pricing to align revenue directly with customer growth
Patrick and John Collison · Stripe: Patrick and John Collison · May 7, 2018 · at 27:07
Patrick and John Collison, co-founders of Stripe, discuss the philosophy behind Stripe's transaction fee pricing structure on How I Built This.
0:00 / 0:06exact quote · 6.9s
720p mp4 · rendered on demand · StarZero watermark
“Yeah, we really wanted kind of clarity in the alignment of interests where we would only make more money when the businesses we served made more money.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Patrick and John Collison
Collison: PayPal was designed for consumers, not scalable business integration
“So the basic issue with PayPal was that it's designed for consumers, not for businesses. And so if you're building an app, if you're building, you know, a website, if you're building a new marketplace, something like this, PayPal works okay for sending, you kn…”
Collison: Tech companies often have an insular go-it-alone mentality
“Technology companies, I think, often have a sort of go it alone mentality. We'll build it all in-house. We'll do it all ourselves. We can do things better than ever in the outside world.”
Collison: Google possessed every advantage and should have beaten Facebook
“Google should have beaten Facebook. Google had every advantage against Facebook. They had you know, more people, more money, more distribution, more brand recognition, more of kind of any of the obvious inputs, and yet somehow there was something missing.”
Collison: Around 2009, banks acted as gatekeepers for online businesses
“Again, oftentimes they would tell you it was the single hardest thing about getting their business off the ground, because the providers that exist at the time, it was often through banks, they were the gatekeepers. They were the people that said, yes, you can…”
Collison: Startups tend to avoid problems spanning multiple complex domains
“Technology companies, startups tended, and still tend, I mean, for understandable reasons, to kind of shy away from things, from problems that sort of, ah, where you have to solve a lot of hard problems, In multiple domains.”
Collison: Post-2008 tech pessimism drove the investor bear case on Stripe
“You know, we were sort of starting Stripe in the wake of the financial crisis, and it's kind of hard to, ah, remember this, or kind of, ah, internalize it now, but people were actually fairly pessimistic about technology in some ways back then, and that was in…”