A Stripe Co-Founder’s Billionaire Flex
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By Jon Steinberg [email protected] om Profile and archive → Follow Jon on Twitter
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Hi, welcome to your Weekend.
You’re likely not intimately familiar with the world of John Collison, and that is mostly by design. Unlike other millennial tech titans like Sam Altman, Brian Chesky and Brian Armstrong, relatively little has been written about Collison, the intensely private, Irish-born co-founder of the $50 billion payments company Stripe.
“He’s still so young,” one Stripe investor and Collison intimate told Cory for this weekend’s cover story . “This is the first time he’s really diving in deep.”
Indeed, the younger brother of Stripe CEO Patrick Collison has only recently earned his fund-raising and managerial, um, stripes. John took the reins as the company’s chief financial officer earlier this year as Stripe raced to find new sources of cash amidst declining profits and a diminished valuation. The resulting $7 billion in fresh capital represented the largest fundraise in the history of private companies.
John, a student of moguls like Larry Ellison and John Malone, seems to be only getting started. His purchase of a sprawling manor in Ireland, his adventurism in aviation and his insatiable appetite for new ideas (see his and Patrick’s “frontier camp,” coming this month to Sea Ranch, Calif.) all bespeak an emerging captain of industry who’s rapidly coming into his own.
It’s time to get to know this Collison lad—whether he welcomes the attention or not.
The Big read
John Collison’s Land Grab: Stripe’s Second-in-Command Stakes His Claim
The younger Collison brother has been a billionaire since he was 28. Now, at 32, the Stripe co-founder is writing his legacy as a business leader. Cory surveys Collison’s expanding empire, from a 1,120-acre Irish estate to his life in San Francisco with his unicorn CEO fiancee.
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The Cult of Notion: A Productivity App Becomes a Sensation for Creators
The San Francisco–based software company, designed for taking notes and managing files, has sparked an unlikely global fandom. Kalley reports on the company’s supercreators, who organize in-person meetups to celebrate their Notion-fueled “second brains.”
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Instagram’s would-be Twitter killer is still in its infancy—but that hasn’t stopped extremely online users in tech, media and marketing from forming very strong opinions about it. Reporter Chris Stokel-Walker talks to a gaggle of social media experts to hear their verdicts.
Listening: A labor star is born “The jig is up!” “They wanna give away ice in winter!” “A leck and a schmeck!” I was never a big fan of “The Nanny,” but I’m thoroughly loving the new Fran Drescher show, in which she stars as a Yiddish- spitting labor leader for Hollywood’s striking actors. Ever since Drescher’s show-stopping St. Crispin’s Day speech last week, I’ve been gobbling up as much Fran content as I can. Variety’s Stephen Rodrick published a rollicking interview on Wednesday that included many choice Franicisms. (“We’re striking for the journeyman.” “I felt like I was talking to Sam Drucker on ‘Petticoat Junction.’” “Steve, call your mom.”) Or if you prefer the Nanny in surround sound, enjoy her “ On With Kara Swisher ” appearance, in which Swisher and Drescher throw jabs like a third-wave Lucy and Ethel. Is this all a dresch rehearsal for a future run for office, Swisher asks? “Each time I’m in Washington, D.C. I have legislative success there,” Drescher answers, coyly. In other words: Nevah say nevah .—Jon
Noticing: Palantir is the new Gamestop Move over GameStop and Tesla fanboys—there’s a new memestock in town. Fast Company contributor Katie Notopoulos reports that over 50,000 Palantir fans have gathered in the subreddit r/PLTR , devoted to hyping up the information security firm and goosing its stock. The company is an odd choice for superfans: co-founded by Peter Thiel in 2003, Palantir has courted controversy by working with ICE on deportations, and the company only reached profitability this year. But the Reddit mob idolizes CEO Alex Karp, known for dressing almost exclusively in Norwegian ski gear and using phrases like “ making big tendies .” Their enthusiasm is reflected in the stock price: in recent weeks, shares rose from $7 to $17. Best (or worst?) of all, Redditors call the CEO “Daddy Karp.” Just imagine what they’ll call Palmer Luckey if Anduril goes public.—Margaux
Reading: Real talk about low sperm counts For years, the very concept of fertility has been relegated to that cursed, misunderstood and underfunded category of “women’s issues.” But—sorry guys—up to half of infertility cases can be attributed to issues on the male side of the equation. With global sperm counts on the decline and men’s anxieties on the rise, a new crop of founders and funders have turned their attention to the science of sperm. Simon van Zuylen-Wood’s engrossing feature in New York Magazine introduces the larger-than-life characters (meet the self-proclaimed “sperm king”), the cringey startup names (Mojo! Dadi!), and the thorny ethical questions that arise when you start to tinker with the creation of life. Like all the most interesting questions to consider, this one doesn’t fall cleanly on either side of the political spectrum. Should be a fun one to bring up at the next dinner party. —Julia
Makes You Think
The Oppenheimer influencers need to chill.
Until next Weekend, thanks for reading.
—Jon
Weekend Editor, The Information
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The Weekend. startups. facebook. e-commerce. By Jon Steinberg [email protected] om Profile and archive → Follow Jon on Twitter. Subscribe Now. 6:00 AM PDT. Hi, welcome to your Weekend. You’re likely not intimately familiar with the world of John Collison, and that is mostly by design. Unlike other millennial tech titans like Sam Altman, Brian Chesky and Brian Armstrong, relatively little has been written about Collison, the intensely private, Irish-born co-founder of the $50 billion payments company Stripe. “He’s still so young,” one Stripe investor and Collison intimate told Cory for this weekend’s cover story . “This is the first time he’s really diving in deep.” Indeed, the younger brother of Stripe CEO Patrick Collison has only recently earned his fund-raising and managerial, um, stripes. John took the reins as the company’s chief financial officer earlier this year as Stripe raced to find new sources of cash amidst declining profits and a diminished valuation. The resulting $7 billion in fresh capital represented the largest fundraise in the history of private companies. John, a student of moguls like Larry Ellison and John Malone, seems to be only getting started. His purchase of a sprawling manor in Ireland, his adventurism in aviation and his insatiable appetite for new ideas (see his and Patrick’s “frontier camp,” coming this month to Sea Ranch, Calif.) all bespeak an emerging captain of industry who’s rapidly coming into his own. It’s time to get to know this Collison lad—whether he welcomes the attention or not. The Big read. John Collison’s Land Grab: Stripe’s Second-in-Command Stakes His Claim. The younger Collison brother has been a billionaire since he was 28. Now, at 32, the Stripe co-founder is writing his legacy as a business leader. Cory surveys Collison’s expanding empire, from a 1,120-acre Irish estate to his life in San Francisco with his unicorn CEO fiancee. Scene and heard. The Cult of Notion: A Productivity App Becomes a Sensation for Creators. The San Francisco–based software company, designed for taking notes and managing files, has sparked an unlikely global fandom. Kalley reports on the company’s supercreators, who organize in-person meetups to celebrate their Notion-fueled “second brains.” Social studies. Threading the Needle: Social Media Power Users Are Divided About Threads. Instagram’s would-be Twitter killer is still in its infancy—but that hasn’t stopped extremely online users in tech, media and marketing from forming very strong opinions about it. Reporter Chris Stokel-Walker talks to a gaggle of social media experts to hear their verdicts. Listening: A labor star is born “The jig is up!” “They wanna give away ice in winter!” “A leck and a schmeck!” I was never a big fan of “The Nanny,” but I’m thoroughly loving the new Fran Drescher show, in which she stars as a Yiddish- spitting labor leader for Hollywood’s striking actors. Ever since Drescher’s show-stopping St. Crispin’s Day speech last week, I’ve been gobbling up as much Fran content as I can. Variety’s Stephen Rodrick published a rollicking interview on Wednesday that included many choice Franicisms. (“We’re striking for the journeyman.” “I felt like I was talking to Sam Drucker on ‘Petticoat Junction.’” “Steve, call your mom.”) Or if you prefer the Nanny in surround sound, enjoy her “ On With Kara Swisher ” appearance, in which Swisher and Drescher throw jabs like a third-wave Lucy and Ethel. Is this all a dresch rehearsal for a future run for office, Swisher asks? “Each time I’m in Washington, D.C. I have legislative success there,” Drescher answers, coyly. In other words: Nevah say nevah .—Jon. Noticing: Palantir is the new Gamestop Move over GameStop and Tesla fanboys—there’s a new memestock in town. Fast Company contributor Katie Notopoulos reports that over 50,000 Palantir fans have gathered in the subreddit r/PLTR , devoted to hyping up the information security firm and goosing its stock. The company is an odd choice for superfans: co-founded by Peter Thiel in 2003, Palantir has courted controversy by working with ICE on deportations, and the company only reached profitability this year. But the Reddit mob idolizes CEO Alex Karp, known for dressing almost exclusively in Norwegian ski gear and using phrases like “ making big tendies .” Their enthusiasm is reflected in the stock price: in recent weeks, shares rose from $7 to $17. Best (or worst?) of all, Redditors call the CEO “Daddy Karp.” Just imagine what they’ll call Palmer Luckey if Anduril goes public.—Margaux. Reading: Real talk about low sperm counts For years, the very concept of fertility has been relegated to that cursed, misunderstood and underfunded category of “women’s issues.” But—sorry guys—up to half of infertility cases can be attributed to issues on the male side of the equation. With global sperm counts on the decline and men’s anxieties on the rise, a new crop of founders and funders have turned their attention to the science of sperm. Simon van Zuylen-Wood’s engrossing feature in New York Magazine introduces the larger-than-life characters (meet the self-proclaimed “sperm king”), the cringey startup names (Mojo! Dadi!), and the thorny ethical questions that arise when you start to tinker with the creation of life. Like all the most interesting questions to consider, this one doesn’t fall cleanly on either side of the political spectrum. Should be a fun one to bring up at the next dinner party. —Julia. Makes You Think. The Oppenheimer influencers need to chill. Until next Weekend, thanks for reading. —Jon. Weekend Editor, The Information. Pressure Grows on OpenAI to Respond to Meta’s Challenge. The Electric: In 2050, There May Still Be 1 Billion Combustion Vehicles on the Road. Bolt, Cameo and the Dangers of Having Too Much Money Too Soon. Pro Weekly: The Information Readers Turn Bullish on Tech. How Eight Social Networks Have Treated Disappearing Stories. Pro Weekly: The Information Readers Turn Bullish on Tech. Bolt, Cameo and the Dangers of Having Too Much Money Too Soon. Pressure Grows on OpenAI to Respond to Meta’s Challenge. Bolt, Cameo and the Dangers of Having Too Much Money Too Soon. Latest Articles AI Agenda facebook ai Pressure Grows on OpenAI to Respond to Meta’s Challenge By Stephanie Palazzolo · July 24, 2023 10:24 AM PDT Welcome to AI Agenda, The Information’s new newsletter that takes you inside the fast-paced world of artificial intelligence.Rapid advancements in the field have prompted companies and governments to grapple with how emerging technology such as ChatGPT and AI-generated video will shape our lives. Through it all, The Information has brought you the early news on companies, investors and ... Benchmark’s Newest General Partner is Former Gaming CEO Victor Lazarte By Kate Clark · July 24, 2023. Lyft Looks for Buyers, Investors in Bikes Division By Cory Weinberg · July 24, 2023. Stripe Plans to Hire Fewer Than 1,000 Workers Through 2024 By Cory Weinberg · July 24, 2023. Join live video Q&A’s. Exclusive. startups venture capital. Shake-Up at Sequoia as Five Partners Exit. Five Sequoia Capital partners have left the firm, the biggest shakeup to the storied venture firm’s leadership since its leader Roelof Botha took over a year ago. Exclusive. startups. Bolt Probed by SEC, Investors Over Statements Made During Fundraising. The Securities and Exchange Commission subpoenaed e-commerce software startup Bolt and sent a notice to co-founder and former CEO Ryan Breslow last year over their past statements to current and potential investors, according to an April 2023 letter from a lawyer representing two of Bolt’s major investors. The Big Read. startups Finance. John Collison’s Land Grab: A Stripe Co-Founder Grows in Power. Visitors to the Abbey Leix estate in County Laois, Ireland, must drive on an unkempt gravel road that leads through a thick forest and past a derelict corn mill to get to the giant old house in the country’s midlands. Exclusive. startups space. SpaceX Forecasts Doubling of Revenue to $8 Billion. Elon Musk’s Space Exploration Technologies, the most highly valued private tech company in the U.S., has told some investors it expects to bring in about $8 billion in revenue in 2023, roughly doubling its revenue from the previous year, according to people familiar with the discussions. Deals. startups cloud. Nvidia Accelerates AI Startup Investments, Nears Deal With Cloud Provider Lambda Labs. Nvidia is known for its stranglehold over the market for the data center chips that power ChatGPT and other artificial intelligence software. Scene and Heard. The Cult of Notion: A Productivity App Becomes a Sensation for Creators. In May, hundreds of people queued outside an auditorium in the San Isidro district of Lima, Peru.