Patrick Collison
@patrickc
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@Stripe CEO, @ArcInstitute cofounder.
Joined April 2007
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I've long been interested in new ways to organize science and enable curiosity-driven discovery. Today, in partnership with
@Stanford
,
@UCBerkeley
, and
@UCSF
, we're excited to announce Arc Institute, a new undertaking in this vein: .
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Google, Microsoft, Adobe, IBM, Palo Alto Networks, and now Twitter run by CEOs who grew up in India. Wonderful to watch the amazing success of Indians in the technology world and a good reminder of the opportunity America offers to immigrants. 🇮🇳🇺🇸 (Congrats,
@paraga
!)
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I recently drove a
@Tesla
for the first time (yes, late to the party), and it is truly an amazing car. So many details are *years* ahead of everyone else. Genuinely inspiring to see how much improvement can be conjured by a small group of dedicated outsiders.
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I asked Tony Fadell about the iPod timeline for my fast project page. Summary: 😯.
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In Q1 2019, 39% of Stripe's hiring was outside Bay Area and Seattle. Last quarter, it was 74%. I think the rate at which tech industry is going global is still under-appreciated, and that this will be a big tailwind for the world over the next decade.
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As a US business (and tech) community, I think we should be significantly clearer about our horror at, and opposition to, the atrocities being committed by the Chinese government against its own people.
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Some day, AI will get so advanced that Google Docs will *automatically* switch to the account has access to the document.
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WTA braver than NBA.
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So my working theory is that if you assemble enough enterprise software ads, an airport spontaneously forms around them.
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Stripe launched 10 years ago today! Still jump out of the bed as enthusiastically as I did at the outset. (Actually somewhat more so -- wasn't really a morning person back then.)
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“The beginnings of all things are small.”
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Stripe, live: .
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Before the pandemic, Pfizer was making 200M doses per year across all vaccines. In 2021, they manufactured 3 billion doses of the COVID-19 mRNA vaccine -- 15x scale-up, in 1 year, for a new platform, during pandemic itself. Still think the extent of the achievement is underrated.
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Stripe, 2011. I decided to assign a custom ringtone to PagerDuty. Chose the iPhone's duck sound. Many (many) problems and pages followed. Years later, walking through park, I heard a soft quack. Shivered involuntarily, pulse quickened.
And that's how I ruined ducks for myself.
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Every morning, I get up and am excited for many things (another day on the planet and all that jazz), but the very best part of a new day, at least in the immediate term, is the chance to drink more coffee. ☕️🥰
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The aggregate revenue of businesses built on Stripe is now around 1% of global GDP.
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"We do these things not because they are easy, but because we thought they were going to be easy" is a surprisingly profound quote. When I ask people who've pulled off remarkable things, it's interesting how many confirm that they wouldn't have started if they'd know how long and…
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Tesla now manufactures slightly more than 1 car every minute and SpaceX launched 2/3 of all tonnage launched to space in the first quarter of 2021.
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I was shocked at the refusal to condemn calls for genocide during yesterday's Congressional testimony from the presidents of MIT, Harvard, and Penn. I ended up watching a few hours of the hearing, and the answers were shamefully evasive and equivocal throughout. As an alum…
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We launched Stripe 9 years ago today. Thanks to everyone who bet on us since then!
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Becoming the preeminent locus of agglomeration for the world's plucky up-and-comers has been one of the US's greatest achievements and most potent advantages.
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I very much hope that India receives surplus vaccines and vaccine supplies from the US. Current situation seems catastrophic.
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@petulamartyn
@Forbes
@collision
Not only mistaken about Limerick but the idea of "overcoming" anything is crazy. We are who we are *because* we grew up where we did.
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Are M1 Macs yielding a brief and golden window of highly-responsive UIs, where frameworks and libraries haven't yet had enough time to compensate with additional overhead?
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I saw someone towing a house while crossing the San Francisco Bay today. Where do I go to learn more? Is this the next trend?
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“When the boy cried wolf, the village committed Type I and Type II errors, in that order” remains the best hypothesis testing mnemonic.
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Current photographs of Stripe are also early photographs.
An early photograph of Stripe. They had a wonderful office next to Coupa Cafe in downtown Palo Alto, but they were about to move out because they'd gotten too big. It felt like the end of an era, so I took a picture of them.
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We just raised a new round of financing to help support our international expansion and efforts to enable the global startup ecosystem. I’m particularly proud that it’s co-led by NTMA, the Irish sovereign wealth fund. Some new stats in article below too.
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More businesses launched on Stripe since the start of 2020 than did in the rest of Stripe's history before then. Overall rate of migration to the internet economy is hard to overstate.
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Excited about The Merge! One of the coolest examples of sustained, ambitious, technically difficult open source development. Congratulations and good luck to
@VitalikButerin
and to the Ethereum community.
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It would be nice if color pickers somehow indicated which colors have already been used in a document/file. "Which green did I use earlier? Right, third from the bottom."
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While long hours can't be a goal, I worry that it's easy to mislead. As a descriptive matter, creating Stripe required obsessive intensity. Maybe better founders could have worked "smarter", but I do know that long hours were needed for *us* to build something great.
Tim Cook’s closing words: Thanks to all the people “giving up nights and weekends”. If this is Apple’s work ethic that’s really a shame ☹️😣
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I'd pay a *lot* more for books if I could see the highlights, annotations, and marginalia of friends or people I follow.
If books really do matter in the world, feels like we'd benefit from a lot more reading technology. Getting books onto the screen was a good *first* step.
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We’ve decided that Stripe’s fifth engineering hub will be Remote:
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I wish digital maps had a setting to increase label density by a factor of 10+, for a perspective like the road atlases of yore. We manufacture these amazing high-resolution displays but then render maps in crayon.
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Around 500 people 65+ are dying per day in California. (~75% of all deaths.) In total, 6 million people in CA are 65+. CA currently has 2 million unused vaccine doses.
Thousands of avoidable deaths. This is a failure of managerial competence and should be a bigger scandal.
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Can't think of a better time to proudly announce that we're hiring in Baltimore.
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Browsers really need File > Save Page as PNG. How are we still exporting PDFs with page breaks and print stylesheets like twentieth century troglodytes?
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Solar deployment is now happening at a roughly $500B annualized rate.
Which technology deployments were larger than this? The US's aircraft production during WWII seems to have peaked at maybe $400B (inflation-adjusted). Global datacenter construction appears to be maybe…
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Congratulations to the Stripe infrastructure teams! With record scale, Black Friday and Cyber Monday passed uneventfully. >20,000 peak RPS and >99.9999% API success rate.
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.
@deewhock
, creator of Visa, died this week at 93. A very underrated innovator and someone who inspired me and
@collision
.
David Stearns, author of the definitive book about Visa, works at Stripe and shared the below.
RIP.
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Fun fact: the US decided to build "the world's first full-scale atomic electric power plant devoted exclusively to peacetime uses" in 1953 and it went live in 1957.
That is, it took less time to invent nuclear power stations in the 50s than it takes to replicate them today.
“In the face of its escalating energy crisis, Britain has just announced a crash program to build over dozen new nuclear reactors by 2035.”
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How did YouTube make all the top-ranked comments wholesome and funny? And are those techniques generalizable?
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Everyone has noticed ⌘-⇧-A in Chrome, right? (Maybe I'm very late to the party here.)
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Fast Grants for COVID-19: .
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Stripe is partnering with Apple to enable Tap to Pay on iPhone: .
(You can sign up to be notified when it's available over at .)
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Someone I know has had some quite useful COVID-related posts removed from Medium, LinkedIn, and Nextdoor—they've been deemed "COVID misinformation". (It's not what the WHO endorses!)
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What a morning for science and technology! More excellent Moderna vaccine news and DeepMind makes a giant leap in single domain protein structure prediction. Humans are awesome! ⚗️🖥📈
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When we ask businesses why they don’t sell in more countries, “tax complexity” is one of the top things we hear.
So we’ve built fully automatic global sales tax calculation and collection: .
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An obvious point that took me way too long to appreciate: in software engineering, you should probably optimize for speed even when you don't have to, because it's one of the easiest/best ways to prioritize subtraction and parsimony in the solution space. .
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This number will shortly pass $10 billion.
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On growing Manhattan by building New Manhattana, a 1,760-acre extension: 🤩
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Very good post. (Particularly liked this comparative analysis of France and the UK.)
🥳 NEW 🚀 BOWMAN 🚀 POST 🥳
"Coasean democracy" – empowering locals to decide on new housing, infrastructure, energy, prisons, and more near them – is the alternative to vetocracy, and the solution to Britain's sclerosis.
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"Increase the GDP of the internet" is our mission statement but also, importantly, our *strategy*.
Zero sum games are bad. We want Stripe to enable new businesses, new customers, new transactions, and new economic activity.
The lesson always is: focus on expanding the market, not taking the market.
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Despite crazy transaction volumes over the holiday period and record growth rates,
@Stripe
API availability was 99.996% over the past 90 days. Proud of what our infrastructure teams accomplished last year and lots more global infra + latency improvement planned for 2021.
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From our earliest days, we've wanted to make all of financial services truly programmable. We're now working with top banks to make that happen.
Stripe Treasury:
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I think there’s a lot to this. Why is childcare so expensive? To a significant extent, bad housing policy. Why is inequality rising? To a significant extent, bad housing policy. Repeat…
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We're excited about the move to South San Francisco. The Bay Area policy issue we encourage everyone to focus on is building more homes. Companies are secondary. We'd love to have more businesses join us in contributing to organizations aiming to expand housing supply.
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I am so hopelessly pale and maladapted to California that I think I just got burned while sitting in the shade from sunlight reflected off the carpet.
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Which new Stripe improvements would, if shipped, make you say "FINALLY"?
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We’re delighted to add Mark Carney to Stripe’s board: .
Mark has served as Governor of both the Bank of England *and* Bank of Canada. He’s also the current UN Special Envoy for Climate Action.
We’re looking forward to building the Stripe of 2030 with him.
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So, Sunday evening Twitter: which five books have influenced you the most? (In terms of shaping your worldview.)
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The NRC was created in 1975. Since then, zero new nuclear power plants in the US have ever reached operation.
[New = entities whose initial application for a construction permit / operating license (or a combined license) was filed with the NRC.]
H/t
@elidourado
for this.
#NRCNews
: We’ve denied, without prejudice, Oklo’s application to build and operate the company’s
#AdvancedReactor
. The company can resubmit an application in the future.
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These aren't just cherrypicked demos. Devin is, in my experience, very impressive in practice.
Today we're excited to introduce Devin, the first AI software engineer.
Devin is the new state-of-the-art on the SWE-Bench coding benchmark, has successfully passed practical engineering interviews from leading AI companies, and has even completed real jobs on Upwork.
Devin is…
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Am generally pretty optimistic about Stripe. Part of the job, honestly. But, man, if we ship even half of what‘s planned for 2019, the year is going to be a true lollapalooza.
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My new favorite example of infrastructure cost disease: construction of the Eiffel Tower cost $40 million *in 2019 dollars*.
(Also, it took 2 years and 2 months to build.)
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It's hard for big companies to ship quickly; it's hard for nonprofits to raise money; it's hard for partnerships to work at scale; it's hard for anyone to create something new and cool. Hearty congrats to
@Microsoft
and
@OpenAI
and all the folks behind today's announcements.
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Just learned that our childhood home in Limerick was previously inhabited by one of the authors of this book. 🤯
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New Stripe Press site: . Team did an amazing job.
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The extreme human temptation to compromise on hiring (and to fail to confront mistakes) is one of the main entropic forces conspiring to ensure that great companies rarely stay that way.
"Before you make an offer to someone, think about whether you’d like to have 10 times as many people like them in your company.” - great advice from
@patrickc
. more here:
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Fun fact: we deployed 3,350 new versions of the Stripe API last year.
Despite crazy transaction volumes over the holiday period and record growth rates,
@Stripe
API availability was 99.996% over the past 90 days. Proud of what our infrastructure teams accomplished last year and lots more global infra + latency improvement planned for 2021.
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Why can’t you easily search all of the text you read on any screen (desktop + mobile) over the past day?
It’s strange how much obvious, low-hanging fruit of this form still exists.
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Not a fan of this "reading time" fad at the top of articles. Get too stressed out subconsciously trying to ensure that I beat it.
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Nearly 2 years after our announcement, preparing for
@arcinstitute
's official opening this afternoon.
(Actual science started ~18 months ago. We've just been waiting for construction to complete, equipment to arrive, and for time to stage a proper unveiling.)
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TL;DR: if you think someone’s work is good, and important, tell them! It really can make a surprisingly large difference and it took me quite a while to appreciate extent.
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Who's doing exciting/ambitious desktop OS work? While mobile gets all the attention, we still spend a lot of time in front of our computers, and it feels like the host environment could be doing a lot more heavy lifting (particularly as a meta tool for thought) than it is.
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Stripe is going to start paying for carbon sequestration:
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We're big believers in multi-year infrastructure bets. After a few years of Ruby infra work, our in-house Ruby compiler is now 22–170% faster than Ruby's default implementation for Stripe's production API traffic. If interested in working on such problems, we're hiring!
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