4.7 • 2.9K Ratings
🗓️ 15 November 2022
⏱️ 130 minutes
🧾️ Download transcript
My guest today is Shopify co-founder and CEO Tobi Lütke. We discuss the differences between founders and professional managers, how he’s scaled with Shopify, the constant fight against bureaucracy, how he thinks about innovation in a large company, and how he manages to keep his head when everyone else is losing theirs.
A coder at heart who emigrated from Germany to Canada two decades ago, Lütke co-founded the e-commerce giant Shopify in Ottawa in 2006. The Globe and Mail named Lütke "CEO of the Year" in November 2014, and in May 2021 the company reported that it had more than 1.7 million businesses in approximately 175 countries using its platform. As of July 2022, Shopify is among the top 20 largest publicly traded Canadian companies by market capitalization, and the company’s total revenue for 2021 was $4.611 billion. Lütke previously appeared on Episode 41 of The Knowledge Project.
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0:00.0 | You are valuable because of a brain you've got. |
0:02.7 | It's your experience, it's your skill, your life story, rolled up, it's your intuition. |
0:08.6 | This anxiety is a people confuse their own self-worth and their role in the world and their ability to |
0:17.0 | well feed their family frankly, with the continuation of jobs and the continuation of a role that |
0:23.3 | they have. But the question you should have is like, how can it be valuable? |
0:27.6 | Shopify hired you as a person. |
0:49.0 | Welcome to the Knowledge Project, I'm your host Shane Perish. |
0:52.3 | This podcast is about mastering the best of what other people have already figured out so you can apply |
0:57.7 | their insights to your life. If you're listening to this you're missing out. If you'd like access |
1:03.6 | to the podcast before public release, private episodes that only appear in your feed, |
1:08.9 | hand edited transcripts and more, you can join at fs.blog slash membership. Check out the show notes |
1:15.4 | for a link. My guest today is Toby Lutke, co-founder and CEO of Shopify. |
1:21.5 | Toby is a friend, listener of the Knowledge Project and is that perhaps one of the hardest |
1:27.0 | jobs in the world for the past few years. I'll warn you now this conversation is wide and deep. |
1:34.4 | We cover the differences between founders and CEOs, how his job has changed, the Shopify has grown, |
1:40.6 | fighting bureaucracy and how he thinks about innovation in a large company. |
1:45.4 | We also explore how he thinks about compensation, what businesses can learn from programming, |
1:50.3 | and how he keeps his head when everyone around him is losing theirs. |
1:54.4 | We also discuss ideas that have left a formative impact on him, including Paul Graham's |
1:59.6 | essay on conformism and the idea of the infinite game. But that's not all. We also cover the |
2:06.0 | technology's most excited about what he used to spend time on that he now sees as a waste, |
2:11.3 | and how he fixed his sleep. Long time listeners will note this is the second time Toby has appeared |
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