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Tobi Lütke

👤 Speaker
1443 total appearances

Appearances Over Time

Podcast Appearances

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

A company is like a collection of individuals that we just call a company.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Every company is getting... Like a company can't gain skills by itself.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

It's just the individuals in the company might develop a skill or you might bring in someone new to gain a new skill.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

So it's kind of like...

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Honestly, the beautiful thing about companies is that they get to align a lot of people's incentives all in the same direction.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And then everyone gets to spend their day together doing hard things, hopefully, unique things and so on and so on.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Reality is, there's a huge amount of complexity in just getting these incentives aligned.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

It's so often that lots of people just end up grinding against each other, and all the energy is diffused by the grinding noise they make, by just being in each other's way.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And the solution to this is like,

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I mean, it's like one of two things, right?

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

It's like, it's either you drive people towards making a consensus decision, like, or there's going to be leadership.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And those things are kind of opposite.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And I don't think that's a commonly held belief.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

So how do you set this up?

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I mean, I'm a big fan of small teams.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I think small teams in general are...

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I mean, the best size team is one person.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

That's just like anything that one single person can do should be done by one single person.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Because, you know, like that requires zero coordination.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

It's like you sort of in your head, you can consult.