Invest Like The Best
Episode 393 Building Islands of Innovation
Invest Like The Best

Episode 393: Building Islands of Innovation

Invest Like The Best

Episode 393

Building Islands of Innovation

Tobi Lütke is the co-founder and CEO of Shopify. We cover the biggest changes he's observed in the wider tech ecosystem with the advent of AI, his unique way of interpreting and implementing "founder mode" at Shopify, and how we can promote more entrepreneurs to build on "islands of innovation" away from the mainstream.

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Show Notes:

(00:00:00) Welcome to Invest Like the Best

(00:05:38) Technological Innovations and AI

(00:07:13) Experimenting with AI in Real-World Scenarios

(00:15:04) The Role of Founders and Company Culture

(00:24:24) Navigating Business Changes and Strategic Decisions

(00:31:15) The Concept of Islands in Innovation

(00:36:38) The Essence of Open Source Marketplaces

(00:37:10) Building Shopify: From Personal Project to Public Company

(00:38:42) Philosophy of Product Development

(00:42:38) Marketing and Mainstream vs. Island Approach

(00:46:52) The Glory of Entrepreneurship

(00:54:17) AI and the Future of Human-Computer Interaction

(01:00:30) Trust and Principles in Organizational Culture

(01:04:31) Investor Insights and Long-Term Vision

Building Islands of Innovation

Introduction

Patrick
My guest today is Tobi Lütke, the co-founder and CEO of Shopify. I've spoken to Tobi on this podcast twice before, first in 2020 and then again in 2022. Needless to say, a lot has changed—both about the world and about Shopify—since we last spoke, and we start by talking about the biggest change of all: AI.

But I'll remember this conversation for the next set of ideas that we discuss: Tobi's very unique take on the very popular concept of founder mode, raising the temperature of an organization, and the importance of building on an island that's distinct from the mainstream.

Tobi embodies the concept of life's work that I believe so much in, and this episode is a shining example of it. Tobi, along with nine other leaders we believe are doing their life's work, will also be featured in the first issue of an upcoming print publication we've been working on. If you're interested in hearing first when pre-orders go on sale, head to joincolossus.com/print. For now, please enjoy this great conversation with Tobi Lütke.

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