John Collison: belief

Transcript context

…We had several moments where we ran out of money. We had that moment, obviously, in the fall of 2013. We had three very difficult years, 2016, '17, '18, where we had two rounds of financing that were incredibly difficult for us, the Series C and Series D. COVID was interesting because COVID started actually… Again, I think it's easy to forget these things because I think humans, we adjust very quickly. COVID, the first week, actually, the business tanked 80%. It tanked massively because everything was shut down. Then the next week, all of the dining rooms were closed, but the kitchens were open. Boom, we see this massive doubling of the business in a week. There are a lot of these moments. You've seen this at Stripe, obviously, a lot, where you have these moments as an entrepreneur where you have very, very low lows. The highs don't feel as high as maybe they get, but that's what you get. As I think about the funding rounds you mentioned being hard, one of the investors I know who has consistently had the most steadfast belief about DoorDash is Michael Abramson, who was at Sequoia back in the day. Why was he so convicted? What was it? I think you're going to have to have him on the show to ask him.…

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