in case this was news to anyone (seems to have not been picked up on HN which is strange) TIL that Stripe raised another 600m as recently as April. https://stripe.com/en-sg/newsroom/news/stripe-extends-series...
Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
71–80 of 88 posts
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#72Just me or does anyone else think there’s going to be a reckoning in interchange regulation in the US like Europe soon? Merchants are hurting, and now the pandemic has forced cashless transaction adoption at an accelerating pace. The egregiousness of both exempt debit interchange and credit interchange fees is almost laughingly insane compared to Europe, where it is heavily regulated. Would be surprised not to see bi…
This x1000.
Visa/MasterCard/amex are a huge tax on society, and they won by anti-competitive processes. Society wins very little by a 2-3% tax on all transactions.
I think the problems with credit card for businesses in the US are almost solely cost. There are other minor issues, but until Stripe works to bust up the interchange, they really aren't working on the true problem with payments.
(Fraud is a distant #2 issue for most merchants and for most people I've chatted with Stripe's radar is more expensive than the fraud itself).
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#73Just me or does anyone else think there’s going to be a reckoning in interchange regulation in the US like Europe soon? Merchants are hurting, and now the pandemic has forced cashless transaction adoption at an accelerating pace. The egregiousness of both exempt debit interchange and credit interchange fees is almost laughingly insane compared to Europe, where it is heavily regulated. Would be surprised not to see bi…
My requests - pass interchange onto the customer - and allow merchant to do so explicitly at whatever rate they want (not cash discount or anything). Ie, merchant might cover first 1% of interchange, pass rest on (so "premium" card holders with high interchange and high rewards pay the big price). We do have to get to chip+pin so the fraud issues diminish.
+1 this request!
If consumers feel the credit card fees more directly, they will likely revolt.
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#74We're excited to hire Mike in part because AWS has been one of the very best examples ever of simultaneously selling to the largest companies in the world while not giving up on a strong self-serve product. So many B2B companies end up with homepages for which the only CTAs are annoying variants of "read case study", "download whitepaper", and "request a call". All stock photography; no product imagery. Stripe's grow…
I learned about AWS and Stripe at around the same time, but while AWS's dashboard has become truly overwhelming, Stripe has until recently been very focused on your core product. I always imagined that flexibility was a key part of selling to enterprise while competing on something other than price. You also see this in other verticals: Salesforce in sales, Netsuite in finance, Twilio in comms, etc. Stripe has alread…
The AWS dashboard is like trying to learn Dwarf Fortress for the first time.
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#75Just me or does anyone else think there’s going to be a reckoning in interchange regulation in the US like Europe soon? Merchants are hurting, and now the pandemic has forced cashless transaction adoption at an accelerating pace. The egregiousness of both exempt debit interchange and credit interchange fees is almost laughingly insane compared to Europe, where it is heavily regulated. Would be surprised not to see bi…
This x1000. Visa/MasterCard/amex are a huge tax on society, and they won by anti-competitive processes. Society wins very little by a 2-3% tax on all transactions. I think the problems with credit card for businesses in the US are almost solely cost. There are other minor issues, but until Stripe works to bust up the interchange, they really aren't working on the true problem with payments. (Fraud is a distant #2 iss…
I doubt Stripe or any payment provider has the scale to take on Visa/Mastercard. China is experimenting here: https://www.ft.com/content/fec06de9-ac43-4ab8-81f3-577638bd3....
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#76Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#77Earlier quoted context omitted.
Cry me a river, Stripe isn’t the government. Gab is clearly a platform for hatred, and it was totally in their purview to drop them as a customer - and oh look: Gab’s still here anyway. Baloney.
> Gab is clearly a platform for hatred It's an "also-ran" social network, nothing more. It has minimal influence. The fact that it's the place people end up when they're kicked off other platforms doesn't make it a "platform for hate", any more than Facebook.
Does Gab not police neo-nazi content?
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#78Earlier quoted context omitted.
This x1000. Visa/MasterCard/amex are a huge tax on society, and they won by anti-competitive processes. Society wins very little by a 2-3% tax on all transactions. I think the problems with credit card for businesses in the US are almost solely cost. There are other minor issues, but until Stripe works to bust up the interchange, they really aren't working on the true problem with payments. (Fraud is a distant #2 iss…
I doubt Stripe or any payment provider has the scale to take on Visa/Mastercard. China is experimenting here: https://www.ft.com/content/fec06de9-ac43-4ab8-81f3-577638bd3... .
don’t think they are suggesting that Stripe create a competing network
just like in Europe the government would regulate interchange, which they’ve mostly failed to do here outside of the Durbin Amendment
But Durbin has raised red flags about excessive swipe fees just this past week, and my bet is that a recovery plan for small biz will very closely scrutinize interchange, and possibly payment processing as a whole https://www.durbin.senate.gov/newsroom/press-releases/durbin...
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#79Earlier quoted context omitted.
The other thing is trust. They have (yet) to screw customers on pricing that I've seen. Has amazon ever raised prices on an existing service? I'm not saying the prices are any good, but they don't seem to go up. So you can spin up in a few seconds, scale, stop and even invest in the platform without worrying too much. Also - they don't seem to discontinue services that quickly, again, doesn't feel like you will be sc…
AWS has clear upfront pricing, but they're a large enterprise company so if you're a large customer, and you're not getting a discount, you're definitely getting screwed. No one talks about that because it's all covered by NDAs covering backroom deals, but you can be sure Netflix isn't paying list pricing for EC2 instances. Having to convert between Reserved Instance families to save money, while tricking people into…
I've never felt tricked by RI. Is there some value to a cloud provider if I commit to three years of an instance type that might night have much new adoption after 1 or 2 years? I suspect so. They seemed to price based on that. What's the "trick"? Standard a1.medium instance for 3 years runs $7/month. Not unreasonable
If you don't want to do that use savings plans.
If you like talking to sales people and negotiating discounts do that. But they haven't let those sales people shut down / mess up self serve, including options for discounts.
You can get pretty far with amazon's tiered pricing and savings plans / spot etc discounts.
Re: Stripe Hires AWS' Mike Clayville as Chief Revenue Officer
#80We're excited to hire Mike in part because AWS has been one of the very best examples ever of simultaneously selling to the largest companies in the world while not giving up on a strong self-serve product. So many B2B companies end up with homepages for which the only CTAs are annoying variants of "read case study", "download whitepaper", and "request a call". All stock photography; no product imagery. Stripe's grow…
Will you increase your rps limits? Surely they are a big blocker for larger organizations.