Seems like stripe is constantly getting called out by other fintech companies. Honestly probably points to the key to their success, they play dirty and are in it to win.
Stripe responds to the Financial Connections/Plaid kerfuffle
11–20 of 191 posts
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#12Seems like stripe is constantly getting called out by other fintech companies. Honestly probably points to the key to their success, they play dirty and are in it to win.
I think we'd all be better off with more of this kind of thing. Basing your business on "ownership" of ideas or insider knowledge about some topic which can be trivially shared is a poor quality base for profit. So much of our economy is based on charging a lot to do something which would be quite trivial if the "how to do it" information was open.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#13I’ll never get over how regressive it is that we are literally clicking on images filled with text as a way to share… text. I seriously cringe each time, lol. Anyway, on topic, it’s good to see this little debacle behind them. Both stripe and plaid offer good services and competition is good in any case. I do wonder if there’s some room for innovation here from Google and Apple. It would be interesting to see if it’s…
>we are literally clicking on images filled with text as a way to share… text.
In this case, it sounds like the original post was removed, so the only thing left would be images types of things. Also, does an image/screengrab add any more validity to something rather than text quoted on another page/site?
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#14Correct me if I'm wrong, but it seems like Stripe just nuked the whole of Plaid's platform and value proposition from orbit.
Plaid just went from a decacorn to a cheap acquisition target for PayPal, Square, Shopify, etc.
I can understand this being absolutely gut wrenching for the founders and early employees that are still on board. It must feel like having tangible dreams crushed. Not as bad as a cancer diagnosis, but certainly worse than a rejection from your dream school.
Competition is an evolutionary force of nature. Brutal at times.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#15[deleted]
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#16> Maybe we should have explicitly reached out to them to discuss this upcoming launch so that they could privately express any concerns they had.
A thousand times no. Companies privately discussing launches with each other to avoid stepping on each other's toes is bad for the consumer. In addition, it may actually cross the line into illegal market allocation.
I am glad that Stripe developed and released a product that they thought would benefit their consumers.
I do not want companies feeling they have to consult another company before entering a market. (which once again may actually be illegal).
EDIT:
Maybe I am being paranoid, but the tone of the Plaid founder and the apologetic nature of this post, kind of brought back memories of Steve Job's indignant emails about other companies hiring, and their apologetic response which ended up leading to an illegal agreement not to hire each other's workers. I don't want any "gentlemen's agreement" about market allocation and collusion about what products/services will be released.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#17I’ll never get over how regressive it is that we are literally clicking on images filled with text as a way to share… text. I seriously cringe each time, lol. Anyway, on topic, it’s good to see this little debacle behind them. Both stripe and plaid offer good services and competition is good in any case. I do wonder if there’s some room for innovation here from Google and Apple. It would be interesting to see if it’s…
If Reddit made it easy for me to follow people and have stuff pop into my feed like Twitter, I'd walk away from Twitter.
Ironically, Reddit's main source of news is screenshots of tweets.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#18As a consumer, I'd welcome some more competition in this space. All of the personal finance aggregation apps I've tried, e.g. Mint, YNAB, Personal Finance, etc. have used Plaid and almost always, I have issues with connecting one or more banks on any given day. Submitting tickets re: connection issues rarely resolves in a timely manner too.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#19That’s freaking good leadership in written form if I have seen one…
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#20Seems like stripe is constantly getting called out by other fintech companies. Honestly probably points to the key to their success, they play dirty and are in it to win.
I think we'd all be better off with more of this kind of thing. Basing your business on "ownership" of ideas or insider knowledge about some topic which can be trivially shared is a poor quality base for profit. So much of our economy is based on charging a lot to do something which would be quite trivial if the "how to do it" information was open.
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