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TLDR:
- John Collison, Stripe President, and Co-founder discusses company growth plans and the obsession over an IPO.
- Stripe recently hit $1 trillion in total payment volume, emphasizing customer acquisition and efficiency.
Full Article:
John Collison, the President, and Co-founder of Stripe, recently discussed the company’s growth plans and the ongoing speculation over a potential IPO. With an approach reminiscent of Charlie Munger, the company is focused on avoiding unnecessary transactional taxes and frictional costs, only taking action when absolutely necessary. In the company’s recent annual letter, they highlighted hitting $1 trillion in total payment volume in 2023, indicating strong customer acquisition and performance upon joining Stripe.
Collison emphasized that Stripe is focused on revenue and finance automation for future growth and mentioned that acquisitions are always on the table. Despite being a massive company with significant valuation growth over the years, Collison pointed out that they are still less than 2% of the overall digital payments market, leaving ample room for expansion.
The article also delves into Collison’s admiration for Charlie Munger’s principles, including integrity, rigor, and humor in business. When asked about a hypothetical cage match against the Winklevoss Twins, Collison humorously deflected the question, showcasing a playful and down-to-earth approach to discussions.
Additionally, the article provides a roundup of recent venture deals, private equity movements, and people-related updates in the business world.
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