This is the youngest billionaire you never heard of...
He was an MIT dropout who built Stripe into a $95B company from his dorm room.
His growth strategy was so GENIUS that PayPal, Square, and Visa executives couldn't believe it.
Here's the full story: 🧵
Meet Patrick Collison.
At 19, he dropped out of MIT to solve the internet's biggest problem:
Paypal...
At 19, he dropped out of MIT to solve the internet's biggest problem:
Paypal...
In 2009, accepting online payments was a nightmare.
PayPal's integration took 7 days and required a 100-page manual.
Meanwhile, companies lost $40B yearly to failed payment processing.
PayPal's integration took 7 days and required a 100-page manual.
Meanwhile, companies lost $40B yearly to failed payment processing.
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for partnering with me on this post.
50M+ users are already using Gamma not only to create AI presentations, but also websites, social media content, documents, and more.
🔗 gamma.app
VIDEO
Patrick saw an opportunity hiding in plain sight.
His solution?
Make payments stupidly simple.
Just 7 lines of code to accept payments. (PayPal needed 500+)
His solution?
Make payments stupidly simple.
Just 7 lines of code to accept payments. (PayPal needed 500+)
When Patrick showed this to PayPal execs, they laughed.
"It's impossible to make it that simple" they said.
"It's impossible to make it that simple" they said.
VIDEO
But Patrick had a secret weapon: his brother John.
• Both spoke multiple languages.
• Both dropped out to build Stripe.
• Both were programming since age 10.
They lived on ramen, coded 16 hours daily, and focused on one metric:
Developer happiness.
• Both spoke multiple languages.
• Both dropped out to build Stripe.
• Both were programming since age 10.
They lived on ramen, coded 16 hours daily, and focused on one metric:
Developer happiness.
VIDEO
Y Combinator's Paul Graham called their demo "suspiciously good."
Peter Thiel, PayPal's founder, was so impressed he invested $2M.
Peter Thiel, PayPal's founder, was so impressed he invested $2M.
Stripe's first office?
A 2-bedroom apartment with 6 people coding non-stop.
Their mission: "increase the GDP of the internet."
Here's Patrick's belief for the first 10 hires:
A 2-bedroom apartment with 6 people coding non-stop.
Their mission: "increase the GDP of the internet."
Here's Patrick's belief for the first 10 hires:
VIDEO
2011: Stripe launches publicly.
Their timing was perfect:
- Shopify was taking off
- App stores were booming
- SaaS was exploding
Every startup needed simple payments. Stripe was there.
Their timing was perfect:
- Shopify was taking off
- App stores were booming
- SaaS was exploding
Every startup needed simple payments. Stripe was there.
The growth was insane:
2011: $1M processed
2012: $100M processed
2013: $1B processed
2015: $20B processed
Traditional banks called it "beginner's luck."
They were wrong, here's why:
2011: $1M processed
2012: $100M processed
2013: $1B processed
2015: $20B processed
Traditional banks called it "beginner's luck."
They were wrong, here's why:
Patrick's realized payment complexity wasn't necessary – it was just historical baggage.
While competitors added features, Stripe removed them.
Result: Developers could integrate payments in minutes, not weeks.
While competitors added features, Stripe removed them.
Result: Developers could integrate payments in minutes, not weeks.
By 2016, Stripe powered:
- Lyft
- Instacart
- DoorDash
- Shopify
- Amazon
The college dropout was now worth billions.
Patrick's next move shocked everyone:
- Lyft
- Instacart
- DoorDash
- Shopify
- Amazon
The college dropout was now worth billions.
Patrick's next move shocked everyone:
He expanded beyond payments into:
- Business incorporation (Atlas)
- Fraud prevention (Radar)
- Company cards (Issuing)
Each product simplified another complex problem.
- Business incorporation (Atlas)
- Fraud prevention (Radar)
- Company cards (Issuing)
Each product simplified another complex problem.
2021: Stripe becomes worth $95B
More valuable than:
- Goldman Sachs
- BMW
- General Motors
- Target
Patrick's age? Just 32.
More valuable than:
- Goldman Sachs
- BMW
- General Motors
- Target
Patrick's age? Just 32.
Key lessons from Patrick's success:
1. Simplicity beats complexity
2. Focus on developer happiness
3. Think decade-long games
4. Stay humble, keep building
5. Solve real problems
Here's Patrick vision for the future of the internet:
1. Simplicity beats complexity
2. Focus on developer happiness
3. Think decade-long games
4. Stay humble, keep building
5. Solve real problems
Here's Patrick vision for the future of the internet:
VIDEO
The craziest part?
Stripe still has less than 1% of global payment processing.
Their mission to "increase the GDP of the internet" is just beginning.
And Patrick's still just getting started.
Stripe still has less than 1% of global payment processing.
Their mission to "increase the GDP of the internet" is just beginning.
And Patrick's still just getting started.
That's wrap
If you found this thread helpful:
Follow me @thetripathi58 for more such content.
If you found this thread helpful:
Follow me @thetripathi58 for more such content.
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