Shopify CEO Tobi Lütke on navigating a downturn, innovating in compensation & more | E1568
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 24 September 2022
⏱️ 101 minutes
🧾️ Download transcript
Summary
Shopify CEO Tobi Lütke joins Jason for the third time to break down Shopify's wild ride over the past 2+ years (1:40), $SHOP's new compensation system (14:19), competing with Amazon (45:38), Shop Pay (56:25), and more! Then, Producer Rachel welcomes Jules Terpak back for another segment of OK Boomer! (1:15:58)
(0:00) Jason intros today's segments!
(1:40) Shopify CEO Tobi Lütke joins to break down Shopify's wild ride over the past 2+ years and the state of the e-commerce market post-COVID peaks
(13:00) Spokn - Get 3 months free at https://getspokn.com/twist
(14:19) Dealing with stock price distractions during periods of volatility, innovating Shopify's compensation system
(27:56) Masterworks - Skip the waitlist to invest in fine art using at https://Masterworks.io/twist
(29:23) Tobi breaks down the ideation of Shopify's new "Flex Comp" system
(38:53) Helpware - Go to https://helpware.com/TWIST to get $1000 off your first invoice
(40:09) Laying off 10% of staff over the summer
(45:38) Competing with Amazon, innovating in fulfillment
(56:25) Shop Pay, BNPL, and remote work quirks
(1:15:58) Producer Rachel welcomes Jules Terpak back for another OK Boomer segment covering Gen Z online life, the entertainment economy, social media backlash, "Sharenting" and more
FOLLOW Tobi: https://twitter.com/tobi
FOLLOW Jules: https://twitter.com/julesterpak
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood
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Transcript
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| 0:00.0 | All right, everybody, it's a huge show today. |
| 0:02.8 | It's Friday, we're bringing back our heavy hitters |
| 0:05.8 | for interviews. |
| 0:06.6 | And today, you're not going to believe it. |
| 0:08.2 | Shopify, CEO and founder, Toby Luca is back. |
| 0:13.3 | He's amazing. |
| 0:14.2 | This is the third or fourth time on the show. |
| 0:16.2 | We've got a great rapport. |
| 0:17.3 | He's super honest, he's super candid. |
| 0:19.5 | We go deep on running companies, scaling companies. |
| 0:23.2 | My God, what a massive pull forward. |
| 0:25.9 | The pandemic was for Shopify, the stock price, |
| 0:28.8 | dealing with employees with RSUs underwater. |
| 0:31.9 | What an amazing interview. |
| 0:32.9 | He's so thoughtful. |
| 0:34.1 | This is a must listen. |
| 0:35.3 | Slow it down, keep it on one X speed, |
| 0:37.6 | and you're probably going to want to listen to it twice. |
| 0:40.0 | Stick with us. |
| 0:41.0 | This is an amazing episode. |
| 0:43.0 | This week in Startups is brought to you by Spoken. |
| 0:47.0 | Finally, there is a way to build culture and connection |
... |
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