Lots of software talks about money, keeps records about money, does calculations about money, but can't *touch* money.
One of the big promises of software is composability. You can build rich, powerful experiences out of basic building blocks.
APIs add new things to the toolbox. For example: Treasury, which lets an app/platform store, move, and track a business’
Lots of software talks about money, keeps records about money, does calculations about money, but can't *touch* money.
So you generally push work to the operator.
You need to be able to read bank transactions to reconcile. You probably can't. The owner can. So you ask the owner to do mind-numbing work a computer does better.
There is some software to write but it is not rocket science.
But let me speculate a bit:
They can automate its operations.
https://t.co/fMOqHh2Tlv
We made it *better* for your users than many business bank accounts.
"When do I get my money?"
Can you imagine needing to email Google to ask when that email that you know was sent will arrive?
Why is money *so slow* and *so opaque*?
In the U.S., you’ll often be blocked on the ACH network. Fast compared to stagecoach; slow compared to email.
Stripe has an arrangement with the banks that ultimately hold the business users’ funds.
(We are working on making that even faster by default. It’s not called HTTP 200 Check Back In An Hour.)
Putting together fintech products is historically a pain in the keister.
Then your engineering team receives the spec, and the *real* fun begins.
No negotiation required. No bespoke legal work. More of the necessary levels of complexity in touching money businesses depend on; less of the overhead.
You can build all of that on Stripe APIs now.
AAAAAAAARGH.
It is managed at most banks as an offshoot of personal banking, because the userbase is basically the same people who show up at the branch.
But the needs are quite different.
(Narrator: This is not, in fact, an adequate spec for a checking account.)
So do graveyards. And hotels. And landlords. And spas. And tutors. And yoga teachers. And...
Not enough dentists pay not enough dollars for banks to put software teams against dental practice UX.
We can then take that package to leading banks. That reach is *very interesting* to them.
A pizzeria can't walk into Goldman Sachs and walk out with a bank account.
A software company serving pizzerias could if they had, uh, a lot of dough.
And so our partner banks have made great products available, at pricing and terms that small businesses just don't usually get in direct banking relationships.
I know exactly how many times I paid the $14 account maintenance fee for my software businesses, ten years later. That’s how much I hated them.
One way to think of it is that banks have huge expenses to attract SMB deposits, including marketing campaigns and branch networks, and those drive the pricing of SMB banking.
Nationwide advertising, branches, and sales reps aren’t as cheap as cron jobs.
I'm very excited to see what software people do with the Stripe Treasury.
No. This was my number two. You're welcome to your guess at the number one. (Though, who knows, I heard of a new project last week and might steal the zeroth spot for it.)
https://t.co/osjjx8gNM0
Part of the needle threading is making sure that one is still developing some things which are uniquely exciting to developers and smaller shops.
— Patrick McKenzie (@patio11) September 23, 2020
Which: I can\u2019t spoil it, but one thing in the pipeline is maybe my favorite Stripe product since Stripe Atlas if we do it right.
More from Patrick McKenzie
Here's how I'd measure the health of any tech company:
— Jeff Atwood (@codinghorror) October 25, 2018
How long, as measured from the inception of idea to the modified software arriving in the user's hands, does it take to roll out a *1 word copy change* in your primary product?
Hiring efficiency:
How long does it take, measured from initial expression of interest through offer of employment signed, for a typical candidate cold inbounding to the company?
What is the *theoretical minimum* for *any* candidate?
How long does it take, as a developer newly hired at the company:
* To get a fully credentialed machine issued to you
* To get a fully functional development environment on that machine which could push code to production immediately
* To solo ship one material quanta of work
How long does it take, from first idea floated to "It's on the Internet", to create a piece of marketing collateral.
(For bonus points: break down by ambitiousness / form factor.)
How many people have to say yes to do something which is clearly worth doing which costs $5,000 / $15,000 / $250,000 and has never been done before.
More from Software
the year kicked off with shmuplations' first big video project: a subtitled translation of a 2016 NHK documentary on the 30th anniversary of Dragon Quest which features interviews with Yuji Horii, Koichi Nakamura, Akira Toriyama, and Koichi Sugiyama https://t.co/JCWA15RTlx

following DQ30 was one of the most popular articles of the year: an assortment of interviews with composers Yuzo Koshiro and Motohiro Kawashima concerning the music of Streets of Rage 1, 2 & 3 https://t.co/QUtyC9W12Z their comments on SoR3 in particular were full of gems

Game Designers: The Next Generation profiled six potential successors to the likes of Shigeru Miyamoto & Hironobu Sakaguchi, some of who you may recognise: Kazuma Kaneko, Takeshi Miyaji (1966-2011), Noboru Harada, Kan Naitou, Takashi Tokita & Ryoji Amano https://t.co/lWZU3PLvwX

from the 2010 Akumajou Dracula Best Music Collections Box, a subbed video feature on long-time Castlevania composer Michiru Yamane https://t.co/NMJe4ROozR sadly, Chiruru has since passed; Yamane wrote these albums in his honor
https://t.co/orlgPTDsKK
https://t.co/QnQl8KI9IX

You May Also Like
Flat Earth conference attendees explain how they have been brainwashed by YouTube and Infowarshttps://t.co/gqZwGXPOoc
— Raw Story (@RawStory) November 18, 2018
This spring at SxSW, @SusanWojcicki promised "Wikipedia snippets" on debated videos. But they didn't put them on flat earth videos, and instead @YouTube is promoting merchandising such as "NASA lies - Never Trust a Snake". 2/

A few example of flat earth videos that were promoted by YouTube #today:
https://t.co/TumQiX2tlj 3/
https://t.co/uAORIJ5BYX 4/
https://t.co/yOGZ0pLfHG 5/
119/7 = 17 & Q = 17
https://t.co/LQShObYZqn

119 \u27977 is now the Chairman of the Public Interest Declassification Board. This new information could be of importance to many. I wonder what that could mean for those who have taken actions to obscure potentially damaging information from the public view?
— 337Tomahawk (@absitminded) December 23, 2020
I can’t find the like , or it appears to have been “unliked” but here’s a video of someone who claims it was there just a few hours ago
— Dr. A. non Questry (@DQuestry) December 27, 2020
This comes from the JFK grandchildren video singing “Timber”
@ 0:50 👀
https://t.co/AmjDZ74kCl

Check the domino. Posted to 4ch it has zero returns on tineye

Now check the domino
Posted to 4ch it has zero returns on tineye
