Stripe CEO Patrick Collison unpacks how big bets are actually made and why most organizations are too slow, too scared, or too political to make them.
In this episode: globalization, building culture, avoiding willful blindness, reading habits, and how to keep your edge as your company scales from 2 to 1,000.
Listen on: Apple Podcasts | Spotify | Transcript
Here are a few highlights from our conversation:
- The biggest (and most valuable) mistakes Patrick made in the early days of Stripe and how they helped him get better
- The characteristics that Patrick looks for in a new hire to fit and contribute to the Stripe company culture
- What compelled he and his brother to move forward with the early concept of Stripe, even though on paper it was doomed to fail from the start
- The gaps Patrick saw in the market that dozens of other processing companies were missing — and how he capitalized on them
- The lessons Patrick learned from scaling Stripe from two employees (he and his brother) to nearly 1,000 today
- How he evaluates the upsides and potential dangers of speculative positions within the company
- How his Irish upbringing influenced his ability to argue and disagree without taking offense (and how we can all be a little more “Irish”)
- The power of finding the right peer group in your social and professional circles and how impactful and influential it can be in determining where you end up.
- The 4 ways Patrick has modified his decision-making process over the last 5 years and how it’s helped him develop as a person and as a business leader (this part alone is worth the listen)
- Patrick’s unique approach to books and how he chooses what he’s going to spend his time reading
- …life in Silicon Valley, Baumol’s cost disease, and so, so much more.
Patrick truly is one of the warmest, humblest, and down-to-earth people I’ve had the pleasure of speaking with. I thoroughly enjoyed our conversation, and I hope you will, too!
