Eric Glyman: belief

Transcript context

…So if you want to see who owns stripe.com in 1999, well it was free in 1999. If you invented the time machine, go run that WHOIS query in your terminal. But you can't do that. So you have to pay them. But all that data is free, or FlightAware with ADS-B data. So you have a lot of these weird businesses and of course this is not a new idea like FactSet, Bloomberg…You have aggregators of data, but that becomes so much more valuable. Because your 10,000 geniuses cannot do that. 100%. And you always experience this if you hire someone extraordinarily talented, top of the class at MIT and you say, “Alright, join the engineering team and go ship the code.” And they ship something kind of crazy on the first day and it's sort of slow. And it's like, you can have someone who is intellectually an absolute giant, but learning how a company does things the way it does, learning the procedures and nuances of an organization takes time. It's part of what makes working with interns or junior engineers fun. I think their learning curve is obviously immensely steep. And I think the speed at which, with sufficient access to the data and the procedures of a company, they're going to get there very, very fast. But these moats are real, you know? Well, the other moat I would argue is the dark mattered moat.…

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