I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money we have.

We're often told that imitation is the most sincere form of flattery.

But let's be honest, everyone hates a copycat.

Well everyone except to my guest today, Jim McHelvie.

Jim created the product Square alongside his co-founder Jack Dorsey.

Square is a payment tool that has been a real game changer for small businesses.

You've probably made a purchase through Square even if you didn't realize it at the time.

And when Jim and Jack started Square, they did the unthinkable.

They beat Amazon.

In the early days of Square, Amazon made a competing tool which, in the case of most small businesses

competing with the behemoth, means the beginning of the end.

But not for Square.

Jim and Jack beat Amazon.

And today, Jim explains how they did it through what Jim calls innovation stack.

Jim McHelvie, welcome to Money Rehab.

Hey Nicole, thank you for having me.

You have written so much about an awesome phenomenon that you call innovation stack.

You say it's an asset that Square used to beat what you call the scariest monster on

the planet.

Who is the scariest monster on the planet?

Well, if you're a startup, it's Amazon. And when Amazon decides that they want to take

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