John Collison
Appearances
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
I'll give my view, and then I'm curious what Patrick has. I would say, firstly, there is just general tech scalability. The finance industry has its version of the mine shafts, for sure, where everything should be highly scalable in real time.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And I think, in a way, stablecoins are solving something that you don't technically need full decentralization to do, but the ability to make real-time payments any hour of the day or night is a useful property. And again, some private systems have also built that. I think a big one for us is trust.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
and the fact that the fraud problem hasn't really been solved in online payments, a big reason people come to Stripe is basically we are a reputation network across the internet economy. And so when someone comes and buys something from a Stripe user, 93% of the time, we have seen that card before. And so the merchant can know something and know that they can trust this end user.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And it's gotten to the stage now where if someone comes along and buys with a credit card, if they're, you know, signing up with an email address or a phone or something that we haven't seen before, that is just ipso facto suspicious because, you know, they are coming along and maybe trying to, it's a stolen credit card or something like that.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And so a big part of what Stripe ends up doing is acting as a reputation network to keep fraud out of the system that maybe you would have wanted to design in from day one.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
I love listening to Jamie Dimon rants. Like, I feel like that's business ASMR. Business ASMR. That itself could be a great podcast.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
I don't know. People just said a lot of shit during the pandemic. Like, do you remember? It's like, oh, handshakes are going to be over. Business travel is going to be over. Every company is going to be fully remote. I would say Stripe broadly... is in a pretty similar spot to where it was beforehand, which is most people go into an office.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Most people are part of our San Francisco office or New York or Dublin or Singapore or wherever. Then we have a bunch of people also who work remotely. Obviously, Jamie is right on some points. I think also working remotely has had a bunch of benefits where there's a way larger talent pool available to companies like Stripe.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And there's a lot of people, you know, you see kind of the two body problem where it allows a lot of couples where, you know, maybe one partner is assigned to some hospital in Idaho and like they don't get to choose what hospital necessarily they got assigned to. And the other person gets to work a high paying tech job. And so. I don't know.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
We know Toby very well. And I don't know, I always feel like, yeah, we should, I'm tempted to take some of the ideas. Like we haven't done the meeting deletion one and you just say, oh, the meetings get recreated, but they measured us and they didn't, it sounds like. And I do always enjoy Toby's perspective, which I think that, you know,
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
many organizational problems are, in fact, software problems. And you just need to write a script to literally, like, I think he wrote the script to all the meetings from the Google Calendar instance. But there's kind of this purity that you're over-intellectualizing your problems. And I do agree with Chamath on the remote thing where, like, It's very dangerous.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
One thing that can be dangerous with as CEOs think about this stuff is I think there is these unfair anecdotes that feel unfair that get people really riled up. The quiet quitters, the anti-work subreddit, you know, all these talk of people working two jobs. And that generates a lot of energy with corporate leaders.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
But you don't want to design your policies around like the bottom 5% of the company. That would be a horrible mistake. Yeah, you want to design your policies against the top talent. And we have some like outrageously productive remote people and they're off. And again, the cabin in Idaho somewhere just, you know, coating up a storm.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
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... 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 productivity data before the whole discussion about remote work happened during COVID.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And it's bad from a work point of view. It's also just bad from a personal point of view where they go mad because they're 23 years old and they're not going to an office. And they're in solitary confinement. Exactly.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
If I know Jamie, I know he'll be retracting that statement right away.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Look, we can come to the summit and, you know, Palmer style, just like. Oh my God, yeah. A long list of things I've said about you. Please.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
If I can just give a quick book recommendation, this book Boyd by Robert Coram about John Boyd, the Air Force colonel who was part of the reformist movement. I feel like everyone in Silicon Valley has that book on their shelf and no one's actually read it. I do. Exactly. Exactly. It is kind of referencing sprinkling some OODA loops into your remarks. Always helps. Exactly. Yeah, yeah, yeah.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Sounds smart. But that is a great book. And it's a book about Air Force procurement, essentially, where he had his, you know, basically the story was that the Air Force generals of the time wanted planes that were bad. And he had a theory about better fighter jets. And he had his fingerprints all over the F-16 and the A-10 and the F-15 and various aircraft. And it was a real battle to get...
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
the Air Force to produce better aircraft. And they really, you know, the generals really wanted these bad aircraft that they had planned. And so that's a fun read at this moment in time when it feels like we have this similar transition from man to man.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
I don't know. I think you can go back and find historical photos of anyone and use them, too. Like, if that's the worst historical photo you have, that's pretty lightweight stuff.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's called Boyd by Robert Coram. And it's a really engaging read. It's also just very well written. It's this kind of narrative nonfiction style. Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
You haven't even gotten to the Stripe Press books.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah, look, I don't like meme coins. I think they're bad. And I think they're part of, like Patrick said, a broader swathe of things that we need to figure out societally where the legalization of sports betting and combined with highly targeted advertising. I don't know if you guys have seen the stats on, you know, whales in sports betting losing very large amounts of money.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
We've never been offered to sponsor the event. I didn't know this was an option.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And it's just these heartbreaking tales. And there's a very large number of them of people kind of losing much more than they expected. And I don't know, we have to reckon with these things.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
societal questions i don't think there's super easy answers they come along from time to time i only learned recently that um state lotteries are relatively recent phenomenon like i think it was one state started doing in the 1970s and then a bunch of the other states followed suit but it's kind of odd when you step back that like i pass a billboard on 101 for power you know the state of california trying to you know get me to buy a lottery negative ev bet
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah, just like, but that's become very normalized. And so I think it's a bucket of hard questions here around, you know, meme coins, sports gambling, whatever. I don't know what you do, but there's a lot of Meme coins are not the only place you find these very heartbreaking stories.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
That's broadly accurate. I would just fact check that it's nowadays not just startups, even though they run on Stripe, but also the world's largest enterprises, Hertz, Amazon, Ford, all these kind of companies. Marriott, yeah. When we started out with Stripe, we thought it would only be for startups. We thought those were the people who needed a problem solved.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And we thought payments was broken for them. And as time went on, we just found out it was kind of broken for everyone.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Why do you make every show a train wreck and we have to get it out of the... The banter is why... Why people come. People listen, you know. So many TV shows are about it's nice to have friends. I mean, you look at Friends or How I Met Your Mother. My wife and I are re-watching The West Wing right now. And it's basically a show about, you know, yeah. But it's just like... Say more, John.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
We're all buddies. Yeah. loyal to each other and everything. And I think the underlying idea behind lots of TV shows is it's nice to have friends. And I think that's the success of the All In podcast.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
We're up to season four now.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
But of course, Sorkin left after season four. Season four. And so many people said, can I?
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's more than a trillion dollars a year.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
I also find it funny where, you know, the way Dominic Cummings has talked about just his experience of life in government was that it's so distracting trying to get anything done because, you know, you have some plan, you get up in the morning and you're going to go do something that matters for the country.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And then you're just instantly by 8am, you know, sideswiped by some kind of silly controversy of the day. That's basically many of the episodes of the West Wing where they like have some actual important thing that they want to get done. And then they just get waylaid by a silly controversy. Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
No one says that kind of stuff.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Stablecoins. We've got to talk about stablecoins. Stablecoins. Why did you do a stablecoin? Stablecoins are finally happening and they're really useful. Like we followed crypto for a long time. The Bitcoin white paper dropped in 2008, the year before we started working on Stripe. And so it's been funny where Stripe and crypto have grown up together.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And, you know, we tried to make Bitcoin happen as a payment method on Stripe. just wasn't that good as a payment method. I mean, it's good as a store of value, as kind of a gold substitute. But transactions are slow. Transactions are expensive. You never know exactly how much you're going to get because it's not denominated in dollars.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
The stablecoins are now really good, if you look at something on an Ethereum L2 or Solana or something like that. And so we bought a company called Bridge late last year, who is building the stripe of stablecoins.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Totally. Dave, sorry. While we're in the science corner, I have a question for you, Dave, which are strawberries. You might know the answer to this. A bunch of tree species around the world are under attack. So in Ireland, we have this problem of the ash dieback. Ash is kind of Ireland's national tree. They use it to make hurleys, which is, you know, for the national sport.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And since mid-2010s, you know, especially as the live plant trade has ramped up... We need to get a hurl for Jason. For Jason, obviously. Absolutely, I'll put it right here on the shelf.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah, exactly. I was going to reference the American chestnut as well in the US. But it feels like we have this real problem and it's so sad where so many beautiful trees are under attack.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And so if you're... I mean, I think you guys have talked about them a little bit, but people like SpaceX using them for treasury management, people using them to offer US dollar services to people all around the world. Just... Stablecoins are, I think, the first really big payments use case. And I think it's finally coming because the tech is good enough.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
That's the second best to pure extinction, but I have in... Ireland, I ended up owning this kind of country house and virgin woodlands where, you know, woodlands that Ireland used to be fully forested and then was denuded with the arrival of agriculture. And there's some kind of ancient woodlands on it that are from the original when Ireland was fully kind of covered in trees.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And I found the die-off of species very sad. And so we got to get
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Behavior we're seeing right now is that stable coins are most interesting and seeing most adoption where there is some cross-border component. And so you need to manage corporate treasury around the world. You want to send remittances to people in other countries. Often it's people in other countries want to hold dollar balances or things like that.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
What we've always seen is that, I don't know, in the U.S., things work pretty well. In Europe, things work pretty well. And so we even see this pre-crypto where the way people pay for stuff has been radically changing. You know, UPI in India, PIX in Brazil, you have all these designed by central banks, actually really good kind of government-run Venmo solutions.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Chamath, a book I think you might find really fun is called Henry Kaiser, Builder in the American West. But Kaiser is kind of underappreciated these days. He was the Elon of his time. He started as a road builder of all things. He won the contract to build the Hoover Dam. He built the Hoover Dam. He started a shipyard during World War II. Yeah, exactly. He made cars. He decided to make cars.
All-In with Chamath, Jason, Sacks & Friedberg
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He decided to make airplanes. Radio stations, TVs. The fame... The famous four-day Liberty ship, remember the propaganda win during World War II of, you know, they were able to lay down a bit. That was at the Kaiser shipyards. Kaiser Permanente spun out of them as part of their healthcare program.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's like, oh, building cars. How hard can it be? Oh, building airplanes. How hard can it be? Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's really incredible, right?
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yes. Like, again, Elon and Henry Kaiser back in the day, it's in the world of atoms, very hard things, short timelines.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Those have all happened in emerging markets broadly and not in the US and Europe. We certainly keep our eyes peeled for that changing at some point. But I think right now, I don't know, Padraig, would you characterize it that way, that a lot of the interesting stuff we see is happening internationally?
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Dave, did you come across in your research – I feel like this is a real boys are monitoring the situation moment – did you come across the Tunguska event in your research on this?
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's incredible.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Go ahead. Yeah. No one knows this. In 1908, an asteroid hit the Earth. It hit a relatively uninhabited part of Russia. It was a – Liberia, yeah. First off, the asteroid did not hit the Earth because it got so hot on reentry there was an airburst. It was 1,000 Hiroshimas in size. The explosion they have here, the 60-meter asteroid, and they have the megatonnage somewhere. Wow.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
It's the largest impact event in recorded history. Obviously, there was stuff before recorded history. It flattened 80 million trees. Weirdly, basically no one was killed because it was so uninhabited. But this is quite comparable to the one that NASA is talking about. That's right.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Exactly. And I think you can take a little bit of reassurance, maybe, that we have had similar size asteroids hit before. And there is some existence proof that despite the giant explosion... You know, it doesn't show up in the climactic data.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah, look, I think people sometimes pulled us out to be dogmatic or something on this topic, whereas we feel like so many other people out there in the world are dogmatic. We just try to be pragmatic on it. Keith was on the show, and he was saying he believes companies should go public as quickly as possible. I don't know, maybe that's the right thing for some companies.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
But in at least Stripe's case, that hasn't been the case. I also think the environment has changed quite a bit, where it used to be the case that to do any return of capital to shareholders, or if you needed any kind of large sums of money, you needed the public markets. That's obviously not true today where the stable private markets exist.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
But we look and we say, is Stripe better off at the moment as a private or a public company? And up to this point, we have determined private. That could change at some point. But it's kind of no dogma from our point. The last thing I'll just say is, I think Keith made the argument, people generally make the argument that it is critical for discipline to be public. And
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
public companies run in a more disciplined fashion. And I think that's hogwash. Like if you need a 25 year old fidelity analyst asking you to double click on your capex, blah, blah, blah, blah, to run the company with discipline, something is horribly wrong at the company and you need new management. And so that argument has never really resonated with me.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
We are profitable, yeah. And profitable on like a fully loaded gap net income basis, not like a community adjusted EBITDA stuff.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
You got to wear shoes. Yeah, I do think we think as it pertains to people joining the business and being compensated. Everyone loves the idea of an IPO pop. But if you look at a bunch of the other fintech companies, Square, really great company, 70% off its 2021 peak. PayPal, 80% off their 2021 peak. If you're an employee and you join those companies in 2021, it's not a great feeling.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And so again, I think the lack of The good and the bad is you are not priced every single day by the market, but it's not only a bad thing.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Yeah. And I think you guys have gotten this sense like this is our life's work. You know, we're not going anywhere. We'll be very happily running Stripe in 10 years time, in 20 years time. And there's so much going on in the space where we spend a bunch of time talking about stable coins, talking about AI, everything like that.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
And it's hard enough to stay ahead in the world of business, you know, without all these distractions, like you said. And so it's just a question of how do you set yourself up to win and do right by anyone in a pretty competitive.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
The last time we met, Chamath, was 18 years ago when we were working on our prior startup, Octomatic, with Harge and Kul Tagar. You were how old? They were 17, 18, 19. It was one of these San Francisco setups where it was like a two-bedroom apartment. There was a few of us living there, I think maybe six people working out of there. A normal number. Exactly.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Look, you could pay people in stablecoins. But again, to the point of where you'll see adoption first, paying people via bank transfer in the US, like, yeah, it's not great. It's kind of slow, everything like that. But it's fine. It's not the biggest problem. And it's really cheap today. Yeah, exactly.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Whereas the people who are using Bridge, it's like scale AI is, you know, they have to pay the contractors all around the world. And when you want to get money to people in the Philippines, that starts to get really annoying and expensive. And so just from our point of view, the real hair on fire problem is the international stuff and domestic. I assume you're paying domestic suppliers.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
All is amazing, all the back office.
All-In with Chamath, Jason, Sacks & Friedberg
The Stablecoin Future, Milei's Memecoin, DOGE for the DoD, Grok 3, Why Stripe Stays Private
Normal numbers to load up a two-bedroom apartment with. And then, Chamath, you came and visited. This is what's so brutal about this, okay?