Clip / Entertainment

Stripe lesson: serve new builders, not just retrofits

From Diode · ≈57:44

“Stripe in the early days had a wonderful product market fit with a lot of developers that did not already have a payment provider.”

“you could spend a lot of time like trying to retrofit Stripe into a existing solution, or you could go after all these new universal players that just expanded immediately.”

What’s in it

How Stripe won developers without an existing payment provider
Why retrofitting into legacy systems is an uphill battle
The case for chasing new market entrants over incumbents

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Clip transcript

throwing away everything from the old system, you are going to just face an uphill battle. But, there's another like lesson that you can learn from Stripe. Like Stripe in the early days had a wonderful product market fit with a lot of developers that did not already have a payment provider. These were folks that effectively were building wonderful things on the internet and needed a new solution that would work for them with them. And you could spend a lot of time like trying to retrofit Stripe into a existing solution, or you could go after all these new universal players that just expanded immediately.