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Stripe responds to the Financial Connections/Plaid kerfuffle

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Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#111

Post by unethical_ban »

darkerside wrote: post #98
unethical_ban wrote: post #77

Earlier quoted context omitted.

I get the CEO speak, but I think rchaud is saying "no one welcomes competition - everyone wants a monopoly and to make as much money as possible". So saying otherwise sounds like garbage. People only "want competition" in the manner of controlled opposition, where they know they can beat someone.

Competition is going to come whether you like it or not. You can whine about it, or you can use it as a tool to push yourself to be better. rchaud find this to be a platitude, but frankly, I don't give a shit what he thinks. If I'm a good CEO, I care much more about how my employees react to the new competition than to how this internet rando feels about my public response.

Speaking of effective communication, I don't think your tone effectively persuades skeptical listeners. You are on a forum of Internet randos, having a polite discussion.

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#112

Post by op00to »

endisneigh wrote: post #4

I’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…

I was about to say something about how pictures of text are not that bad, and then decided to click through first and .. wow. Talk about fine print. Yeah, that's far too silly!

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#113

Post by itslennysfault »

darkerside wrote: post #38
rabidonrails wrote: post #26

I think that people underestimate what this feels like for the Plaid founder and potentially for Patrick too. For Plaid you've spent your life building this business. Presumably there are many happy customers and you're working really hard to define the space and provide service. One morning you flip on your laptop and see a headline that one of your customers (and competitors) launched a new service that directly co…

CEOs are literally paid to deal with these emotions constructively. In this case, that would have looked like welcoming a competitor to the space and being ready to win on execution, because ideas are free.

A prime example of this is the response Slack gave when Microsoft launched Teams. It was a direct copy-cat and they didn't throw a temper tantrum. They welcomed Microsoft into the space and saw it as validation of their product.

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#115

Post by krallja »

tootie wrote: post #17
abirch wrote: post #7

Earlier quoted context omitted.

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.

That's not true, there's also reposts of TikTok videos.

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#116

Post by sillysaurusx »

kyle-rb wrote: post #108
throwaway1777 wrote: post #102

Earlier quoted context omitted.

This isn’t regressive at all. It’s a way to preserve and document something that will probably be deleted or made private. The alternative is maybe putting it into a pastebin or rehosting the text somewhere but somehow it seems less trustworthy that way even though photoshop exists. For accessibility purposes alt-text should be possible.

Twitter allows alt text but it's dependent on the user including it when they post (@collision did not) and it's limited to 1000 characters.

4000. Still too few.

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#117

Post by cyberlurker »

lern_too_spel wrote: post #88
fdgsdfogijq wrote: post #11

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.

If anything, this shows that Stripe's competitors believe that Stripe is competently managed. If Google announced a product in this space, Plaid's CEO would have yawned. Google announced a Slack competitor that would be a free addition to its business suite in 2017, and Slack IPO'd two years later at a $30 billion market cap. SPOT opened higher the day after Google announced YouTube Music. I remember when companies w…

Because they kill so many products a few years after launch. They could launch the best whatever app in the world and most people would never touch it because they don’t trust it will be around in a year.

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#118

Post by password4321 »

anon_3b4150 wrote: post #27

I have dealt with Stripe as a partner for my last three companies, and I do not trust them. The core team was A+ and very reasonable, but the non-core folks would regularly lie and misrepresent themselves. I have to be careful about examples because I don't want blowback to my colleagues, but here's one: telling a third party that they should not do a hybrid Stripe + my_old_company solution because our product couldn…

A lot more anecdata: Accepted and ghosted: interviewing for a leadership position at Stripe

https://news.ycombinator.com/item?id=29387264 (672 comments; 20211130)

> Stripe, and especially the founders, have a quite a poor reputation for screwing over people in and around their orbit.

--

Follow-up discussion of the initial announcement: Stripe releases Plaid-like project, Plaid CEO objects to process

https://news.ycombinator.com/item?id=31263288 (15 comments; 2 days ago)

> Unless I'm mistaken, Stripe has a history of behaving this way.

--

Initial announcement discussion -- Plaid CEO's comments:

https://news.ycombinator.com/item?id=31262361#31263005

https://news.ycombinator.com/item?id=31262361#31263017

Re: Stripe responds to the Financial Connections/Plaid kerfuffle

#120

Post by sangnoir »

SpikedCola wrote: post #106
sangnoir wrote: post #105

Earlier quoted context omitted.

> IME, Plaid is lightyears ahead in terms of reliability and overall developer and end-user experience. I regret handing over my bank login details to Plaid, since they scraped my bank statements without stating so upfront and offered that information to 3rd parties (indirectly, as a score of some sort, IIRC, but that's scraping very personal information). When I mentioned it on HN a year or 2 ago, someone who works…

This is something that absolutely blows my mind. The bank's terms of service say you can't hand over your password to anyone, and here is Plaid asking users for their login information! I can't understand how they can ask users to breach terms of service, and have gotten so far.

I was dubious while doing it - and I gave Plaid access to my settling account. I consoled myself that they wouldn't have by income, but then realized they had a copy of my financial information on spending, which is equally bad, or worse than just income. I ought to have been more vigilant - I unfortunately fell into the trap of thinking that banks are slow-moving and reluctant to develop API access.

I will never sign up for a service that requires Plaid.

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