Maybe this entire thing will serve as a warning to those who don't have an easy pricing calculator on their website.
Stripe responds to the Financial Connections/Plaid kerfuffle
41–50 of 191 posts
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#42Correct 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,…
>Not as bad as a cancer diagnosis, but certainly worse than a rejection from your dream school.
We leave rich, but maybe not-as-rich as we thought?
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#43I 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…
Im rolling my eyes at this. Dont get into business or politics if you have thin skin.
So... Be born into a lift of luxury?
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#44Correct 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,…
You are not wrong, although I don't believe this will be the death of Plaid. Their growth is certainly limited. Plaid should focus on improving their product. They made a mistake by not expanding into related product segments. Now they will have to directly compete with Stripe on product quality.
I think this is right. Plaid will get by, but their ability to capture TAM is now constrained. Because they didn’t expand horizontally into some related product offerings, they now look like a feature while Stripe looks like a platform. It sucks to be on your heels having to play catch-up from their position.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#45I 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…
When your business becomes a feature of another larger offering it’s time to sell and move on.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#46I 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…
Please… my violin can’t get any tinier or we risk splitting the atom.
I don’t think OP isn’t asking for sympathy but empathy? Is this the name of the game ? Yeah it is , always has , always will be. Does it suck for the loser ? Yes for course.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#47I 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…
10 years in I highly doubt either of them take anything that personally.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#48I 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…
> As the founder of "attacked" company not only do you see the competition coming from a customer but from another "friendly" company in your space. Yesterday you were friends, today you're enemies. Doesn't matter who you are, this comes as a shock and it stings.
Some time back, Steve Jobs felt the same way about Apple employees being offered positions at other companies, so he sent an email to his "friends". The result was an illegal "gentleman's agreement" not to hire each other's employees.
Companies basing their decisions about entering a market based on what their "friends" at other companies think is market allocation, and it is illegal.
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#49Correct 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,…
What a whirlwind couple of years for Plaid employees. First the Visa acquisition for 5.3 Billion that falls through because of antitrust, then a round that values them at 13.4 Billion, then fintech and SaaS valuations crater, and now this
Strike while the iron is hot. Any SaaS or speculative tech that sat on the sidelines during this massive bubble did themselves the injustice.
Probably most of them actually believed in the numbers though
Re: Stripe responds to the Financial Connections/Plaid kerfuffle
#50I 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…
I don't think anyone would argue that it's a blow to the chest for Plaid.
But, that's business.
Plaid has raised $700m+ and is valued $10+ billion according to Wikipedia. This move by Stripe is absolutely one that any competent leadership team should have expected would happen sooner or later.