Shopify

“Stripe did a partnership with Shopify and they were both actually valued at a billion dollars when that partnership started in around 2013, 20, 14 ish.”

“Zip and Navon, I think are both examples of potential Shopify's because they're both growing extremely quickly. We're growing extremely quickly. Everyone grows together.”

“One of the things he did at Shopify when he got promoted to be COO was cut their GNA as a fraction of revenue from 14% to four percent, and I think they're on target next year to be at one percent.”

“So that 20% that I'm spending on marketing to, you know, maybe it was meta, is now gonna, like, that profit pool is gonna be more going toward a Shopify or the actual agent players themselves, OpenAI or Gemini.”

“Toby had this very wonderful mentality of applying essentially a zero discount rate. To future growth. It was just like, it's like, cool growth tomorrow or growth today. I'm indifferent. I will never sacrifice growth tomorrow for growth today. And if you do th…”

“When I was at Shopify, one of the things I used to do is, like walk into conference rooms and test the markers, the whiteboard markers. And like, anytime there was one that wasn't working, I would send a message to our facilities and, Hey, like, because I thou…”

“Cause like back then Shopify was very broadly shorted. Like the day I joined, there was a short solid report that came out calling, saying Shopify would go bankrupt in 12 months.”

“I think there's like two SaaS companies that stand differently than the rest. It's like Palantir and Shopify. There was up to two. I think it's partially because they do things that are just so different than every other company.”

“They just signed his giant deal with us, like, all right, so we have 1200 employees, 800,000 merchants, I'm just going to give everyone 700 and something merchants to review manually. And so for like a week with no sleep, people are just like manually reviewin…”

“Toby Lutke at Shopify CEO, he's been great thinking about like how to be an AI native organization.”